Stanford search stats - from initial reach-out to LOI

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April 30, 2024

by a searcher in St. Louis, MO, USA

Just saw these stats from Stanford. Here are the numbers:

STEP 1 - Initial reach-out: 3,404 STEP 2 - Response: 256 STEP 3 - Positive follow-up: 124 STEP 4 - Management Meetings: 25 STEP 5 - Indication of interest: 16 STEP 6 - LOI sent: 4 STEP 7 - LOI signed: 2

How does this compare to everyone's searches?

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Reply by a searcher
from The University of Chicago in Chicago, IL, United States
The response rate from the initial outreach is a lot lower than my experience. Maybe cause the initial outreach is very broad across multiple industries and relies on cold outreach ?

In our dental practice outreach we have relied on common connections , brokers , networking events where the response rate is much higher. Maybe because we are focused in one industry and specific geography our response rate is better.

The rest of the conversion % from step 2 to 7 seem reasonable.
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Reply by a searcher
in Baltimore, MD, USA
My proprietary outreach has been much more successful than those numbers, but I've focused my outreach in markets that I have experience in. Its my opinion that increased my credibility compared to the next guy has led to a much higher % of management meetings. However, the owners might have been more interested in a meeting to find out about what I'm doing from a defensive position - I could've been a competitor if a deal did not work out with them.
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