What term describes the ratio of successful sales to total sales attempts?

The term that describes the ratio of successful sales to total sales attempts is known as the closing ratio. This metric is essential in sales as it quantifies the effectiveness of a salesperson or a sales team in converting leads into actual sales. The closing ratio provides insights into how well sales strategies are being executed and highlights areas for improvement in the sales process.

By calculating the closing ratio, businesses can assess their performance in turning prospects into paying customers, which ultimately affects revenue generation. It focuses specifically on the outcomes of sales interactions, allowing for targeted training and adjustments in sales tactics.

While sales conversion rate is often used interchangeably with closing ratio, it can sometimes encompass different contexts depending on how it is defined, such as overall engagement versus specific successful transactions. In contrast, sales effectiveness is a broader term that can include various factors and metrics related to the success of the sales process, beyond just the closing ratio. Customer retention rate deals with the ability to retain existing customers, which is a distinct metric from measuring sales success in initial transactions. Thus, the closing ratio is the most precise answer to this question.