an account manager has the following numbers this month: 50 customers who were up for contract renewal; 25…

an account manager has the following numbers this month: 50 customers who were up for contract renewal; 25 of those customers renewed. of those 25 who renewed, 20 bought additional products compared to their previous contract. what was the salespersons cross - sell rate? 50% 80% 40% 25%

an account manager has the following numbers this month: 50 customers who were up for contract renewal; 25 of those customers renewed. of those 25 who renewed, 20 bought additional products compared to their previous contract. what was the salespersons cross - sell rate? 50% 80% 40% 25%

Answer

Explanation:

Step1: Recall cross - sell rate formula

The cross - sell rate is calculated as the number of customers who bought additional products divided by the number of customers who renewed contracts.

Step2: Identify relevant numbers

The number of customers who renewed contracts is 25, and the number of customers who bought additional products among the renewing customers is 20.

Step3: Calculate cross - sell rate

The cross - sell rate $r=\frac{20}{25}\times100% = 80%$.

Answer:

80% (corresponding to the second option in the multiple - choice list)