Initial Close Rate
A sales metric that measures the percentage of sales opportunities that are successfully converted into customers at the first stage of the sales process. It typically refers to the conversion rate of leads or prospects who have expressed initial interest in a product or service and have been contacted by a sales representative. A high initial close rate indicates that the sales process is effective at converting interested prospects into paying customers, which is an important factor in driving revenue and growth for businesses.
An example of an initial close rate in business coaching could be the percentage of potential clients who sign up for a coaching program after an initial consultation call. For instance, if a business coach had 10 consultation calls and signed up 3 clients for their program, their initial close rate would be 30%. This metric can help the coach measure the effectiveness of their sales process and make adjustments to improve their conversion rate.
Initial Close Rate DEFINITION:
Initial Close Rate QUOTE:
1."Initial close rate: where the art of persuasion meets the science of probability (and a sprinkle of luck)." 2."Initial close rate: because closing the deal is like a game of chess, but with more handshakes and less castling."