A sales hit rate is a metric that counts the number of sales divided by the number of prospects. While a prospect can be defined in different ways, the general idea is to quantify the number of product visitors who have converted into customers.
Sales hit rates are often used to measure an individual rep’s performance. They can also be used to help calculate sales forecasts, define productivity-per-rep and quotas, and as part of a business’ financial model.
Calculating a hit rate can be a simple ratio.
Number of Sales / Number of Prospects * 100 = Hit Rate
It’s important to note that there is no magic number for a good sales hit rate. In eCommerce we often hear of “1% conversion rates” or other common notable figures. This is not applicable to individual sales reps as they all have different methods, styles and approaches to prospecting.
For example, a sales rep may choose to prospect a high volume of leads and only close a small number of deals. Others may be very selective of the qualified leads they pursue and only talk to a handful of prospects. The 2 reps might close the same number of deals but would have drastically different hit rates.