Close rate in sales refers to the percentage of sales opportunities that are won or closed successfully out of the total number of opportunities in the sales pipeline. It is an important metric to track sales team and process effectiveness.
Here are the steps to run a report in Salesforce to determine the close rate:
- Go to the Reports tab and click on ‘New Report’.
- Select the report type as ‘Opportunities’.
- In the report builder, add the following columns:
- Opportunity Name
- Stage
- Amount
- Close Date
- Add a filter on Stage and select ‘Closed Won’ and ‘Closed Lost’.
- Run the report.
- To calculate close rate, use this formula: (Total number of opportunities closed won / Total number of opportunities closed won + Total number of opportunities closed lost) x 100
- The percentage obtained is the close rate. Higher the percentage, the better the close rate.
You can further filter by date range, sales rep, product etc. to get a close rate analysis for different cuts and compare performance. This report provides great insight into sales efficiency.