How We Build a 90% Failure Rate into the Sales Process

I recently began doing training in the banking industry. Across the board, successful bankers close between 2% and 6% of the prospects they call on, starting from their first prospecting call.

Not only are those numbers abysmal, they are considered normal. In other words, bankers are expected to fail at least 94% of their time. The insurance industry has the same odds.

In general, every industry closes less than 10% of the prospects they call (first call to close), with over 90% falling in the 7% category. And, since there is no scientific way of knowing which prospects fall into the 7%, we continue running after all