Here’s how to monetizing your prospecting.

This week I am going to share with you an exercise that I like to have the managers in the BT Dealerships I train conduct with their sales team.?

“Metrics” can seem arduous, but if a sales?executive?knew they made $39.00 every time they made a prospecting phone call for example, making ten more dials every day should be a no-brainer!?

Here is how you and your sales?executives can?figure out how?much money or the?“the rate of return”?they make or sell into their quota every time they make a prospecting touch via phone, voicemail, email?or foot.?Note:?A prospecting touch is anytime a sales executive reaches out to secure a net new meeting with a prospect when they know the prospect’s name.?

Step 1: How many touches to a Net New Meeting?

Count the number of prospecting touches that you completed in the last 4 weeks and total them, then count the number of 1st time visit net new meetings you scheduled for the month.???

Example, in the last 4 weeks you made:

• 120 Touches each week (120 touches x 4 weeks =480 touches)
• 20 Net New meetings (480 touches / 20 Net New =?24 touches to a Net New meeting)

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Step 2: How many Net New meetings to a Proposal?

Look again at those scheduled Net New meetings and count how many of those resulted in the writing of a proposal.?

Example:

• 8 proposals?written (20 Net New / 8 Proposals =?2.5 Net New to a proposal)

Step 3: Number of Proposals?written to close one sale?

Go into your proposal folder and count how many net new deals you closed in 4 months.

(If you are doing this exercise in July, go back and count Net New closes from February, March, April and May. Why leave out June? Because your sales cycle is usually longer than a month.)

Example:

• 10 Net New deals closed (32 Proposals / 10 Closed =?3.2 Proposals to a close)

Step 4:?So how much money do you make for every prospecting touch?

Let’s say the average deal is $7,500.?

Example:

• 24 Touches to a Net New meeting
• 2.5 Net New meetings to a proposal
• 3.2 Proposal to a closed deal

• 3.2 x 2.5 = 8?
• 8 x 24 = 192
• $7500 / 192 =?$39.00 for every prospecting touch!

Now you know how to plan for success in the remaining months of 2024. Guarantee your success by executing your plan, and by identifying how much make money every time you do.

Make More?Quality?Prospecting Touches = Make More Meetings = Make More Money!

Kate Kingston ~ 646.831.5184?~ [email protected]?

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