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how effective are your staff? Using the Statistics One of the greatest things about using numbers, is that they allow no room for opinion, simply facts. On the surface, judging you sales staff by their conversion rate may appear to be relatively straight forward. But in reality, conversion rates will tell you much more than just how many people out of ten your salespeople are selling to. Using our two salespeople, Joe and Jane, look at Figure A and let’s analyse their conversion rate figures: Figure A: Weekly Conversion Rate Joe Jane Monday 30% 70% Tuesday 10% 80% Wednesday 40% 50% Thursday 20% 90% Friday 10% 60% Saturday 30% 80% Sunday 40% 70% Gross Sales £2,000 £2,000 Both Joe and Jane each had £2,000 in gross sales for the week. On this basis it may seem that they are comparable salespeople. In reality, they are really quite different and each must take different steps to improve their performance. Based on Joe’s low daily conversion rates you may conclude that he either sells more items per sale than Jane, or he sells higher ticket items. In this case, the way for Joe to increase his gross sales is to sell to more people. You see that once Joe establishes a relationship with a customer, the customer is likely to spend quite a bit of money. You could conclude that in order for Joe to get into more conversations with customers, he needs to work on his communication skills along with his opening and probing techniques. Jane’s high conversion rate tells us that she is already selling something nearly every time she makes a demonstration. Advising her to approach more customers would be useless. What Jane needs to do is to sell more to each customer. To accomplish this Jane should be encouraged to demonstrate higher ticket items, as well as attempting more accessory and add-on sales. Very different advice for two salespeople selling the same weekly volume isn’t it? Neither Joe or Jane should be considered poor salespeople. But, if you had to model your staff after just one, you’d be far better off with Jane-clones than Joe-clones. Why? Jane has a much larger customer base than Joe. Generally, repeat customers buy more than new ones and can bring in more referral business. This makes Jane’s potential for making more sales greater. The rule to remember here is: First sell everyone something, then sell them more. As you can see, besides knowing how many customers your salespeople are selling to, conversion rates also tell you how they are selling. So, if you had to make a decision on who to keep and who to let go in your store, conversion rates give you a quantitative number on which to base your decision. Who are your salespeople most like, Joe or Jane? Don’t guess as you might be in for a big surprise. Take responsibility and track their conversion rates for a month. It will make your job as the ‘coach’ of your sales staff much easier. C Further information Nick Waller, Owner of Driving Performance Ltd, specialists in improving sales and service performance. Nick can be contacted on T: +44 (0) 1892 524 824 or +44 (0)7811 251 367, E: nick@driving-performance.co.uk, www.driving-performance.co.uk 76 craftfocus
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Issue 25 June/July 2011 www.craftfo
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