Hit rate is a metric or measure of business performance traditionally associated with sales. Defined as:
Sales can be measured either as the sum of dollars pursued or the number of deals pursued. Accurate calculation requires clear definition of when a sales opportunity is firm enough to be included in the metric, as well as firm disposition of the opportunity (i.e. the deal has reached a point where it is considered won, lost or abandoned).
The hit rate may be measured for the whole sales force or by sales region, sales person or product group. It may be used to benchmark the different sales periods and to benchmark the effectiveness of the own sales force with other companies of the same sector.
Due to the high costs involved with making proposals the hit rate is a very useful tool especially for companies in industrial marketing.
Famous quotes containing the words hit and/or rate:
“A really tight friendship is when you start to really care about the person. If he gets sick, you kind of start worrying about him—or if he gets hit by a car. An everyday friend, you say, I know that kid, he’s all right, and you don’t really think much of him. But a close friend you worry about more than yourself. Well, maybe not more, but about the same.”
—Anonymous Fifteen-Year-Old Boy. As quoted in Children’s Friendships by Zick Rubin, ch. 3 (1980)
“We all run on two clocks. One is the outside clock, which ticks away our decades and brings us ceaselessly to the dry season. The other is the inside clock, where you are your own timekeeper and determine your own chronology, your own internal weather and your own rate of living. Sometimes the inner clock runs itself out long before the outer one, and you see a dead man going through the motions of living.”
—Max Lerner (b. 1902)