COMMENTS
Matt,
Great post here, and you're totally right regarding THE metric. Meaningful conversations, quality conversations, are the metric that should be tracked first and foremost, certainly not number of dials.
So, if the trick is , "finding the right balance between pre-call planning and activity that makes the process repeatable and scalable," what is your suggestion to get to that end? Determine the number of meaningful conversations per day that you want to hit, and then work back from there? Meaning, if you want to hit 15 per day, you need to make "x" number of calls while being able to spend "y" number of minutes pre-call planning. I know that sounds simplistic, but I'm curious as to what you think?
Thanks,
Chris
Matt,
Great post. I almost did not notice I was mentioned as I was so stuck on the John Madden story for several seconds. Ouch!
Chris,
Great question. In the end time management is maybe the most important sales skill in my opinion.
Coincidentally, I just wrote a new blog post today based on some data from Joanne Black and David Nour that suggests combining a referral with some pre-call planning (on a platform like LinkedIn for example) is 117 times more efficient than volume cold calling.
Now 117 is a huge multiple so my instinct is you can spend quite a bit of TIME preparing for one laser-focused call instead of doing those 116 unprepared cold calls.
I don't have precise data for you on time comparison (yet, I think it's something we should do) but that's my first thought.
What prep could one do in the time you would otherwise be making 116 smile-and-dial cold calls? A bit I think.
Nigel
@nigel thanks for the data point
@chris it's "the trick" for a reason - it is tricky. In mind math geek / marketer's mind, I would argue for a track/compare/optimize approach.
#1 we have to tracking both "conversations" & "conversation results" (eg no interest, referral/shunt, next step, etc.)
#2 do we have a point of comparison? is 1 of my Reps massively out dialing another (who does a little more pre-call planning)
#3 once we find out which Rep is having more "positive" conversation results (in my words meaningful conversations), let's look for incremental improvement. How does adding an extra step, say linkedin / google news research impact the process? Positively? Negatively? Not at all?
Just my quick thoughts.
-Matt
Great post Matt,
I remember reading that John Madden story before. It is a classic! Nigel, great points. Having an internal referral and a triggering event is magic. On the topic of pre-call planning and rapport, I would say that it does not end once you have set that first appointment. If we really are trying to cover too many bases and don't always have time to do our homework, we need to continually be adding value during the sales process. A little goes a long way. There really is no excuse with all the information readily available on the web. Sign up for Google alerts, visit their press releases, read the industry blogs, hell just pick up a newspaper! etc. Nothing better than pinging a prospect and congratulating them on their quote in the new york times as a way to wake up an opportunity or just build rapport....
If any of you are interested in a very systematic approach to pre-call planning that helps provide a re-usable framework and leverages software, check out
www.precallpro.com! Happy Hunting!
-Brian
Nigel, Matt - thanks for getting back to me! Appreciate the responses!
Chris