Simple Math Even Sales People Will Understand

 

When I first started my career in sales it was supposed to be a stepping stone into bigger and better things. I had visions of working in advertising or being a successful CMO but once I got my wings I realized that sales was where I belonged. In retrospect it’s a no brainer. I’m a type-A personality, I’m competitive, I’m driven by money and I have a good stomach to handle the highs and lows of the “sales game”. That’s the profile of most successful sales people yet I find that many of my colleagues have become complacent and have forgotten to invest in themselves.

When I first embarked on my career I got a few of the standard pieces of advice like “be on time for work”, “don’t have too many drinks at a cocktail party” etc… but the one that really stuck out to me came from my father. A career sales leader he advised me to make one more call every day before I left the office. It sounds simple enough yet most of us don’t do it which is hard for me to understand.

The quick math says that placing one last call per day means you’d make twenty additional calls per month. Now let’s say that your conversion from calls to leads to opportunities is 10% which isn’t unreasonable. That’s two extra opportunities per month and twenty-four per year. If you’re closing 10% of those opportunities then you’re closing roughly 2.5 more deals during the year. Now take your average deal size, multiply by 2.5 and then by your commission rate. That’s the magic number. That’s the number you should be putting on your white board and focusing on as it could mean the difference of going to President’s Club or staying home and writing up account plans and throwing Hail Mary’s to close an extra deal or two.

With all of that said, as wise as my father is there was one thing he was missing which has been proven to accelerate that equation I just gave you. Don’t just place a cold call to drive those extra opportunities, take the time to understand the relationships you, your colleagues, your partners, and your friends have to your prospects and leverage those instead. We know that a warm introduction typically leads to a higher average deal size and shorter cycle times while driving higher lead to opportunity conversion rates so why not take an extra 5 minutes and invest in yourself at the end of the day. I could think of worse ways to spend five minutes.


Introhive can give you back 5.5+ hours a week to make those extra calls by automating tedious data entry tasks in CRM. To find out how Introhive saves company’s hours of data entry time and provides powerful relationship intelligence, email us at info@introhive.com or click HERE to learn more.

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