What is a hit rate?
Hit rate is a sales-related business performance metric that refers to the success rate of business-related activities. It represents the number of linked contacts as a fraction of the total number of attempts.
Consider a call center representative that makes approximately 30 calls each day and has more than 30 opportunities or prospects to calculate the hit rate. The agents will very certainly sell out of his merchandise to a subset of those prospects.
The hit rate is usually influenced by contact base quality, lead routing or contact distribution between agents, and modern call center software.
How to calculate the hit rate?
The hit rate is calculated using the sales funnel, which counts the sales prospects at various sales pipeline stages. The sales hit rate is the total sales made as a percentage of the number of options identified.
The hit rate formula looks like this:
number of sales/number of prospects x 100
Importance of hit rate
The hit rate gives managers immediate visibility on how many outbound calls on their lead list are answered by prospective consumers.
Evaluating your hit rate metric is significant since a low hit rate can imply a contact list that requires substantial changes. Therefore, examine your hit rate to see how frequently calls are answered and what changes your lead list may require.