Salesperson Closing Ratios
Are you having issues with your Salesperson Closing Ratios not adding up correctly?
This article will explore this item on the MarketSharp Dashboard and help shed some light on the reason why your figures don't match what the dashboard shows.
Before we move further into this discussion, let me first mention to always check your date range on this section of the dashboard as it doesn't always stick with current dates. You can change the dates here by clicking in the box that shows the dates and it will give you a variety of options.
If you have selected the applicable date range and you are certain your ratio is still off then continue through the rest of this article as I will explain this dashboard item more clearly.
How does the Dashboard calculate this ratio?
The Marketsharp Dashboard item for closing ratios uses a hard coded formula of Appointments Set that are divided by the number of appointments resulting as sold.
The Formula: Appointments Set ÷ Appointment Resulting in Sold
Let's look at an example of what this means.
In the illustration above, we see our Salesperson has two appointments listed on this one contact record. Out of the two appointments however, only one of these resulted in a sale. In this case, the Dashboard would award this salesperson a 50% closing ratio for this example.
This is also just one contact. the overall ratio will be less with the more appointments listed for our salesperson.
If you do not want to count every appointment against your salesperson then I will show you how to change appointment results around and then how to build a report to show this.
If you wish for each appointment to count against your salesman for their closing ratios, you can stop here because this is what the dashboard is already doing.
Creating Different Appointment Results
Let's navigate to the Admin Page of MarketSharp.
Find the header listed for Company Setup and click the link for Editable Drop Down Lists
In this setup page, locate the list for Appointment Results and click the blue icon next to it.
As you can see in the menu below, the appointment results for Demo/ Sold & Demo/ Maybe are counted as a Presentation. What you could do is create a new item and call it Sold and make sure to not check the "Presentation" check box.
To do this click the blue button on the left for Add New Item. For the example I will name my new result Sold (no presentation). I will be making sure I Do Not select presentation but that I do select Sold. Be sure to save these changes.
Let's now go back to my contact record and change the appointment result.
By clicking Edit on the appointment that I wish to change the result on I can change the result from the Appointment Result drop down.
Now that we have 1 appointment listed as a presentation and 1 appointment listed as Sold (without it being a presentation) our closing ratio for our Salesperson is now 100%.
Creating A Report That Will Check For Presentations vs Total Sold
We now have the way we want to result our appointments. Now we will create a report to help us get a more desirable ratio for the Salesperson.
Go to the Reporting Tab
Scroll down till you get to the standard reports section and look for a report called Detailed Sales Report.
In the illustration above, you can choose the following settings:
- Use Appointment Date Range
- In the Group setup select Salesperson in Group 1
- Choose Uncheck All for the Show Report Columns & Show Detail Fields
- Check Presentation & Total Sold in the Report Column
I would choose to save the settings on this report so you will be able to run this regularly without forgetting settings.
Here is what the report will look like once it has been ran.
Then using Simple division you divide the two numbers to get your Closing Ratio.