The purpose of this tool is to help you set realistic sales targets.
This tool is designed for the following audiences:
The tool is used for two purposes:
Take the following examples.
A website estimates its sales rate for a new product will be 10% (1 sale per 10 visits). In its first week, of the 10 visits to the information page of this product, there was 1 sale. The sales percentage macro calculates the odds of surpassing the target sales rate of 10% as 2.3 to 1. The corresponding probability is 69.7%.
In the year-to-date (the end of the previous month), a commission salesperson has had 40 sales calls, resulting in 4 sales. The target rate is 15%. In the current month, the salesperson has had 10 sales calls, resulting in 2 sales. The sales percentage macro calculates the odds of surpassing the target sales rate of 15% as 1.1 to 1. The corresponding probability is 53.1%
A store is looking for an average sale to exceed $100. In sales from the previous two weeks, the average was $100.35. For the current week, the average is $102.13. The sales amount macro gives the odds of exceeding an average of $100 as 13.1 to 1 with a corresponding probability of 92.9%. If this were a new store with no prior data, using just the data from the current week, the odds would be 8.7 to 1 with a corresponding probability of 89.6%.
The two tools can be used in tandem. For example, suppose the odds of exceeding a sales rate of 10% are 3 to 1 (corresponding probability of 75%) and further suppose the odds of exceeding an average sale of $500 are also 3 to 1. Then, for 100 sales calls, the salesperson can expect to make at least 10 sales each earning an average of $500 for a total of $5,000.
We are nearing the end of the beta testing period. To test the macro, you must become a member of Bayesoft.com. Within a week of registeration, you will be asked to complete a survey in which we ask you about the usefulness of the product and what it should be priced at.
Become a member of Bayesoft.com.