It’s often I can hear excuses for a low Hit Rate %, such as e.g. that the product is wrong, the market is too tough, it’s to few sales reps, more marketing is needed etc.
A low Hit Rate is mostly based on your own performance
A Hit Rate should be high, over 50 % even if your product / solution not is the market-leading one. Hit Rate % is largely based on your ability to plan and work strategically towards the right market at the right time.
Here are five actions that significantly improve your Hit Rate:
- Target Groups – Define your Target Groups in detail, even if your company already has one.
- Value Propositions – Define net based value propositions for each Target Groups
- Business Model – Create a specific business model for each target Target Group
- Optimize communication – Plan the best way to communicate, event, meetings, lectures etc, and when
- Optimize Meetings – Plan your meetings in detail, when, how, with who, and don’t do anything with out a thought. Work tactically and let the customer close.
Take those specified actions and you will guaranteed improve your Hit Rate above 50 %.