Do you love cold calling? I don’t. Most people I know, including my clients, don’t even like picking up the phone to make a follow up call – forget about a cold call! While the telephone can be one of the most vital tools to growing your sales, it is often one of the most feared tools.
You are not alone. Sadly, sales professionals and entrepreneurs will find thousands of other things they’d rather do than pick up the phone to call a prospect. In reality, though, you might need to make fewer calls than you think.
During our Selling with Intention courses, the last half of the class is dedicated to writing scripts and making real prospecting calls to clients. During just 30 minutes of telephone calls, my clients are amazed at how easy it can be to not only make an appointment, but make several appointments in such a short time span. Yes, just 30 minutes!
Now, let’s get into the numbers. By the way, you HAVE to know and understand your specific Sales Formula (your numbers). In other words, how many new clients do you want each month? What is your closing ratio (the amount of prospects you need to meet with to make a sale)? For the ease of numbers, let’s say that you want 20 new clients every month. Each client is worth $1,000.00 to you, so your goal is $20,000.00 per month. Your closing ratio is 50%, meaning that you close 50% of the prospects that you meet with. Based on that scenario, how many prospects would you need to meet with to reach that goal?
If you guessed 40, you are correct! If you need to set 40 appointments, how many follow up or cold calls do need to make? Again, let’s say that your closing ratio for appointments (warm and cold) is 50%. Then you would need to only make 80 calls to get the 40 appointments you need to close 20 sales this month. If there are 20 working days in a month, and you want to focus on calling the first 10 days of the month to ensure you have enough time to close your sales, then you would need to make just 8 calls per day-for 10 days!
Knowing your numbers can make reaching your monthly and annual sales goals so much easier! Everyone is going to have different numbers, so it’s up to you to figure out your own formula. However, my guess is that the amount of calls you really need to make will be less than you thought!
Action Item: Following the formula above, calculate how many calls you need to make each month. Is it less than you thought?
Reaching your sales goals can happen in just 30 minutes per day of calling. For some it will be more and others it might be less time, but when you know your numbers, and create a plan to get there, it can be easier than you think! Decide how many days of the month you will be making calls and schedule your calling time on your calendar.