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billbenson
08-11-2009, 12:29 PM
I started tracking my closure rate on orders about a month ago. I'm turning about 44% of my quotes into orders. I can't say if thats because my site generates qualified leads or sales skills or more likely both. I still thought that was a pretty good number.

Steve B
08-11-2009, 05:00 PM
That sounds good to me. I'd be able to pay more bills if I closed that %.

orion_joel
08-11-2009, 07:57 PM
I think that is a fairly good closing rate. Now that you are tracking the closing rate, maybe you could see if there is any thing else that you can track to see if there is a pattern, in the sales you close over the ones you miss.

Maybe tracking where the quote requests come from that convert to sales, maybe you find that 30% of sales are from phone based enquirers and 14% are from web based. Or maybe the other way around, then you can use that to work on ways to improve which ever is the poorer option. The more you know the more power you have to find ways to improve it.

Dan Furman
08-12-2009, 12:01 PM
That's a good rate. Mine's a bit lower, but it works for me.

I wrote in Do The Web Write that there are no universal or "good" numbers when it comes to this sort of thing - you generally can't compare yourself to others, because there are too many circumstances. The only percentages that matter are your own against your own - if you do something and your 44% goes to 55%, you did good. If you do something and it goes to 33%, you did bad.

billbenson
08-12-2009, 03:37 PM
I think its a good number, particularly when my prices are higher than everybody else. If its an open bid, I discount some but not that much. I'm not going to try to compete with someone lowballing. They can have the business. In those bids, someone usually comes in at under my cost these days. So I quote it, but don't really expect to get the business. Sometimes I get it though.

The other thing that works, and people should consider when looking for products to sell. If someone is looking for the product they usually need to buy it. Consumers or tire kickers would never search for it.