Over the years I have ran over 13,000 sales meetings, made over 100,000 cold calls and have done over 2,000 stand up presentations. Most people think I’m all about quantity.
I’m a big believer in the hustle! I do believe in quantity, but you have to have the right amount of quality to crush it!
I recently had a conversation with a sales rep who took over a new territory for the now manager. The manager had some scheduled appointments. The two of them were meeting for the lunch appointment, but the manager thought it would be good to do a cold call before the meeting.
The cold call turned out to be to an unqualified office and a waste of time. They couldn’t meet with anyone and were told that nobody there would ever utilize their product. Now I’m all for cold calling, but in today’s market place you can even make a qualified cold by know your customers and prospects.
Could this sales rep better utilized their time?
What I say isn’t that the Appointment Metric is dead, but companies and sales people need to evolve into the…
SALES FUNNEL METRIC
The Sale Funnel Metric states that you should measure quantity and quality. It takes 7 to 12 contacts to close most people. So you want to have a quantity of calls with the right quality of prospect or client.
You start by…
REVERSE ENGINEERING YOUR NUMBERS
What is your sales target / goal? Daily, Weekly, Monthly, Quarterly and Yearly?
How many appointments / calls to have the capacity to make?
How much do you have to sell in every appointment?
Now you need to figure out how many clients or prospects you can handle.
I want to introduce you to the 80/20 Farm Team Method.
Take your current clients that you serve and put them into the 80/20 Farm Team Method.
How this breaks down is your…
4% of your clients = 64% of your business
16% of your clients = 16% of your business
80% of your clients = 20% of your business
Identify how many A Team and B Team members you have?
How much time do they take up? Meaning you only have so much capacity for meetings and phone calls. How many meetings are going to have with you A Team and B Team members?
How many appointments are left? These appointments are set aside for your Farm Team. Your Farm Team are your next A and B Team members. Take the amount of appointments you have left and divide by the number of meetings you need to close a prospect and that is how many prospects you should have on your Farm Team.
Instead of just running appointment to run appointments and hit some metric. You need to measure how many of your appointments are with you A Team, B Team and Farm Team.
I say that you should have 80% of your appointments with them.
When you design your SALES FUNNEL METRIC you should also measure other contacts you make to close prospects or sell more to current clients.
You need to identify what are your….
ACTIONABLE INCREMENTS – these are the massive actions you take. What makes up this list are…
· Direct Mail
The APPOINTMENT METRIC is alive and well, but should not solely be base on amount. It needs to be based on quality.
Spend more time on the right prospects and clients and you’ll have more success.
I say MEASURE EVERY
THING. Maximize your time, Maximize your effort, Maximize your contact with the qualified…
· A Team Members
· B Team Members
· Farm Team Members
This is the start of your funnel. Next you have to identify the timing of the rotation of appointments, calls, emails, etc.
Start building you A Team, B Team and Farm Team and start increasing the Quality of the investment you make with your time and money.
DOMINATE THE COMPETITION!