What is minutes per sale in SAP CRM-IC-RTD - Real-Time Decisioning?

SAP Term: minutes per sale

• Component: CRM-IC-RTD

• Component Name: Real-Time Decisioning

• Description: Average time it takes an agent to sell a real-time offer during a session. Example A session in which no real-time offer is promoted takes an average of 5 minutes. A session in which a real-time offer is promoted takes about 8 minutes. Total: 10 sessions In 4 sessions, no real-time offers were promoted. In 6 sessions, real-time offers were promoted, 2 of which have been accepted by the customer. Minutes per sale: [Total duration of sessions with promoted real-time offers - Average duration of sessions without promotion x number of sessions with promotions]/ Total number of accepted real-time offers = [6x8-5x6]/2 = 18/2 = 9 min

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• Key Concepts: 
  Minutes per sale is a metric used to measure the efficiency of the CRM-IC-RTD Real-Time Decisioning component of SAP. It is calculated by dividing the total number of minutes spent on a sales process by the total number of sales completed. This metric helps to identify areas where the sales process can be improved and streamlined. 
  
  How to use it: 
  To calculate minutes per sale, first determine the total number of minutes spent on a sales process. This can be done by tracking the time spent on each step of the process, such as customer research, product selection, and payment processing. Then, divide this number by the total number of sales completed. The result is the minutes per sale metric. 
  
  Tips & Tricks: 
  To maximize efficiency, it is important to identify areas where time can be saved in the sales process. For example, automating certain steps or streamlining customer research can help reduce the time spent on each sale. Additionally, tracking customer data can help identify trends and patterns that can be used to improve future sales processes. 
  
  Related Information: 
  The minutes per sale metric is closely related to other metrics such as average order value and customer lifetime value. These metrics can be used together to gain a better understanding of customer behavior and optimize sales processes accordingly. Additionally, understanding how customers interact with different products and services can help identify areas for improvement in order to increase customer satisfaction and loyalty.