Quotes serve a purpose: to convince a customer to purchase your product or service. That means you would prefer every one of your offers to become a contract. But everyone knows it doesn’t work like that. Sometimes you win, and sometimes you lose.
win ratio = all quotations approved by customer / all quotations issued in x time
How do you know if your win ratio is correct? It depends on the sector and the service or product of a good win ratio on offers. There are some important parameters:
- How many competitors do you have?
- How well-known is your product/service?
- Are the competitors very similar to you, or do they offer something different?
- How big a contract is you trying to make?
- Are you a key player in this market?
Want to learn more about how these parameters affect your odds of winning? Read more about odds here.