Become a Member
Guides and Reports
Show All »
Metrics & ROI
Search Engine Marketing
More Marketing Topics »
MarketingProfs Enterprise Solutions
See All »
Schedule of Events
Virtual Conference Series
Products and Services
Post a Question
Quick Start Guide
Find and Post Jobs
Real-World Education for Modern Marketers
Join Over 600,000 Marketing Professionals
Ask your question ... sign up today! It's FREE!
Just for Fun
Search more Know-How Exchange Q&A from Marketing Experts
This question has been answered, and points have been awarded.
Ratio Throughout Sales Funnel
Posted by Anonymous on
10/28/2005 at 3:55 PM ET
Throughout the sales funnel (industry: supplemental insurance, e.g. Aflac), what are the average ratios throughout the sales cycle from cold calling to close ... and to renewal? For example, this many calls gets x meetings, x meetings to get y proposals, y proposals to get z closes.
10/31/2005 at 10:46 AM
Wow! There are averages for this?
Even if there were, I'd stay away from them. Do you work and keep track. Unless you're looking for an inside secret from AFLAC, you're better off developing one specific to your company. You'll then be in a better position to adjust and measure.
11/3/2005 at 8:00 PM
Use your own averages (over a year, for example) as a benchmark. Only in this way you will know if you make any progress.
Focus on bottlenecks. Improving from 50% to 55% may be even harder than moving form 0,5% to 1% but the latter creates 2 times more business.
I do not think it would be possible to develop meaningful averages across organizations.
Do not forget to set targets.
11/6/2005 at 4:26 PM
Michael and Agnieszka are 100% right.
It doesn't matter one bit what someone else is doing.
What matters is what you're achieving now; and what you can do to improve it.
If someone told you AFLAC achieves 75% at every step, would you be any the wiser?
In any case, conversion won't always be consistent. Certain campaigns may prompt enquiries from better qualified prospects than others leading to increased conversion rates.
What you need to to benchmark yourself, look for ways to improve, measure the improvement, and set in place a continuous improvement program to micro-tune the changes to your own business performance.
Don't forget, you also need to measure funnel LAG, i.e. how long it takes to get from one step to the next, along with LEAKAGE or conversion rates between steps.
Hope that helps.
11/7/2005 at 3:21 PM
Let me clarify my point. The company I am working with has never tracked their sales funnel. I am wanting to set benchmarks. Knowing that Aflac gets 75% at each level would be of huge importance. Tracking will be done but management needs to know what to expect so that they may take actions to correct underperforming areas. They may find that 15% at one level - does this need correcting? Not if the industry standard is 10%.
Telling me that I need to track is not an answer.
BACK TO TOP
Post a Comment
Six B2B Takeaways From Six Great Facebook Ads
by Daniel Kushner
How to Craft Outreach Emails That Convert
by David Mercer
How to Elicit and Use Employee Stories in Your Content Marketing
by Ryan Michael McDonald
The Mathematical Reason SEO Is the Best Long-Term Marketing ...
by Timothy Carter
Beginner's Guide to Creating Fleshed-Out Buyer Personas for B2B ...
by Carly Schoonhoven
See more marketing articles »
MarketingProfs uses single
sign-on with Facebook, Twitter, Google and others to make subscribing and signing in easier for you. That's it, and nothing more! Rest assured that
provide your social data to 3rd parties
contact friends on your network
post messages on your behalf
interact with your social accounts
Your data is secure with