“Make more dials!” goes the typical sales manager mantra. But is that the best way to set more cold calling appointments?
Many customers we’ve worked with originally only had their sales teams reporting to management each week the number of dials they were making to set appointments. A few more would also track the number of appointments set. But even in those situations that track them both, it’s not enough to effectively manage the process.
We believe that both must be tracked along with one other interim result; conversations with decision makers. Why? Because in order to help a sales professional improve at appointment setting we need to track three metrics, not just one or two. They are:
- The number of dials being made.
- The number of conversations that occurred with decision makers. From the first two numbers, we can then determine the ratio between the number of dials and the number of conversations. We call it the Conversation Ratio.
- The number of appointments actually set with those decision makers. From this and the number of conversations, we can determine the ratio between the number of conversations and the number of appointments set. We call this the Appointment Ratio.
Here’s why we want those three metrics.
- The number of dials being made is an indicator of effort. Are they making the dials we believe they should be making or not?
- If the Conversation Ratio is too low there are only three reasons for it:
- The list they’re calling off of is bad.
- They are not leaving voicemails and (where possible) emails that get returned enough.
- They are struggling with Gatekeepers.
- If the Appointment Ratio is too low, there are only two reasons for that:
- Again the list is bad and the targets are not qualified.
- They’re not able to effectively handle the initial ‘no’ they’ll almost invariably hear.
If our selling process truly necessitates finding new customers through telephone prospecting, accurately tracking these metrics is critical to our success. If we don’t, our turnover will unnecessarily be too high (lack of early success) and our sales will be too low. Both of these negatives can be addressed if know how to appropriately focus our effort to help our charges improve.
Lastly, the metrics must be accurate and timely. There is still only one product we’re aware of that will provide that information automatically and accurately. That product is called Klpz.
Caponi Performance Group and Contact Science jointly market the telephone prospecting and cold calling solution called The Prospector’s Academy™ under the brand name Coldcalling101. It is the only comprehensive solution to solving the biggest barrier to success in most selling organizations – the inability to secure enough Initial Appointments to begin the selling process. We accomplish that through simultaneously addressing both the efficiency and effectiveness of the process. We can be reached at 214 483-5800 or at barry@coldcalling101.com.
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