Is this correct and if so can you break it down for me?

[channel99]

"Do you give up too easily when pursuing new customers? Research indicates that 73% of sales people hear the word "no" at least 5 times before the word "yes." However, 92% of these sales people give up before hearing the fifth negative response. Consequently, the 8% of employees who persist past the 5th "no" earn 3109% more sales. Persistence pays."

I have been given this statement and all though it kind of makes sense I am unsure of the maths? Can someone break down the workings out for me or even rewrite it in a more clearer way?

Thanks in advance..

[another-view]

Exactly! 3109% of sales?? The figure is meaningless

[jake-the-peg]

The give away is always "reseach shows" without any further justification.

"Research shows that 8 out of 10 cat owners thought their cats had the appearance of fewer wrinkes after just 3 applications of Esso super unleaded"



Take 100 salesmen

73% ask at least 5 times
92% of the 73 give up before 5

The 8% is 8% of 73% not of the whole group.
and you're not told how many still get told no after 5 nos

27% get a yes quite easily

and earn 3109% more sales - compared to who? the ones who don't persist? or the 27% who get a yes first time (I know what I'd bet)

This has all the hallmarks of rubbish science

But that's not the point.

You're not meant to analyse this for rigour you're meant to be inspired by it.

It doesn't matter whether it's right or wrong - the only thing that matters is results.

Welcome to Sales!

[nightmare]

It is a classic example of CGSM.

(a Consignment of Geriatric Shoe- Menders) - or words to that effect.