Hit rate
Encyclopedia
Hit rate is a metric or measure of business performance traditionally associated with sales
. Defined as:
Sales can be measured either as the sum of dollars pursued or the number of deals pursued. Accurate calculation requires clear definition of when a sales opportunity is firm enough to be included in the metric, as well as firm disposition of the opportunity (i.e. the deal has reached a point where it is considered won, lost or abandoned).
The hit rate may be measured for the whole sales force or by sales region, sales person or product group. It may be used to benchmark the different sales periods and to benchmark
the effectiveness of the own sales force with other companies of the same sector.
Due to the high costs involved with making proposals the hit rate is a very useful tool especially for companies in industrial marketing
.
Sales
A sale is the act of selling a product or service in return for money or other compensation. It is an act of completion of a commercial activity....
. Defined as:
Sales can be measured either as the sum of dollars pursued or the number of deals pursued. Accurate calculation requires clear definition of when a sales opportunity is firm enough to be included in the metric, as well as firm disposition of the opportunity (i.e. the deal has reached a point where it is considered won, lost or abandoned).
The hit rate may be measured for the whole sales force or by sales region, sales person or product group. It may be used to benchmark the different sales periods and to benchmark
Benchmarking
Benchmarking is the process of comparing one's business processes and performance metrics to industry bests and/or best practices from other industries. Dimensions typically measured are quality, time and cost...
the effectiveness of the own sales force with other companies of the same sector.
Due to the high costs involved with making proposals the hit rate is a very useful tool especially for companies in industrial marketing
Industrial marketing
Industrial marketing is the marketing of goods and services by one business to another. Industrial goods are those an industry uses to produce an end product from one or more raw materials....
.