How do you track and measure the results of your phone calls for referrals?

1 Set your goals

Before you start making phone calls for referrals, you need to have a clear idea of what you want to achieve and how you will measure your success. For example, you may want to set goals for the number of calls you make, the number of referrals you ask for, the number of referrals you receive, and the number of referrals that convert into customers. Having specific and realistic goals will help you focus your efforts and evaluate your performance.

2 Use a CRM system

A CRM (customer relationship management) system is a software that helps you manage and track your interactions with your contacts, prospects, and customers. It can also help you record and measure your phone calls for referrals. For example, you can use a CRM system to log the details of each call, such as the date, time, duration, outcome, and follow-up actions. You can also use a CRM system to track the referrals you receive, such as their names, contact information, sources, and status. A CRM system can help you organize your data, automate your tasks, and generate reports and insights on your phone calls for referrals.

3 Monitor your conversion rates

One of the most important metrics to track and measure your phone calls for referrals is your conversion rate, which is the percentage of referrals that become customers. To calculate your conversion rate, you need to divide the number of referrals that buy from you by the number of referrals you receive. For example, if you receive 10 referrals and 2 of them buy from you, your conversion rate is 20%. You can also calculate your conversion rate for each stage of your sales funnel, such as the percentage of referrals that agree to a meeting, a demo, or a proposal. Monitoring your conversion rates can help you identify your strengths and weaknesses, optimize your sales process, and improve your results.

4 Ask for feedback

Another way to track and measure your phone calls for referrals is to ask for feedback from your contacts, prospects, customers, and referrals. Feedback can help you understand how satisfied they are with your service, how likely they are to refer you to others, and what challenges or objections they may have. You can ask for feedback in different ways, such as sending a survey, a testimonial request, or a thank-you note. You can also ask for feedback during or after your phone calls, such as by asking open-ended questions, listening actively, and acknowledging their opinions. Asking for feedback can help you build trust, loyalty, and rapport with your contacts, prospects, customers, and referrals.

5 Review your results

Finally, you need to review your results regularly and compare them with your goals. This can help you evaluate your progress, identify your gaps, and adjust your strategy accordingly. For example, you can review your results weekly, monthly, or quarterly, depending on your needs and preferences. You can also use different tools and methods to review your results, such as charts, graphs, dashboards, or meetings. Reviewing your results can help you celebrate your achievements, learn from your mistakes, and plan your next steps.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?