Sunday, October 24, 2010

Cold Calling: How many calls should you be able to make an hour?

So how many cold calls should you or your team be expected to make in an hour? The answer has many variables. Depends if you are selling B2B (Business to Business) or B2C (Business to Consumer). It depends if you are using a CRM, how many fields and/or pages you have to fill out. Is your list is ready or are you making it up on the fly.

The short answer is 12 - 15 calls an hour.

In a perfect world your list would be prepared, you would know who you were calling and your introductions ready. If you are using a CRM, your list is in the CRM and you are using a filter so you can make one click to pull up your next lead record.

It can take 1 to 4 minutes to dial and reach your intended target. (Depends on if you have to go through a switch board or direct dial.) Depends on if you know who you are asking for or if ou are fishing for a contact. It will take another minute or so to leave a message and if you are a good multi tasker, you would have been entering or writing notes.

A minimum of 2 minutes a call x 12 calls = 24 minutes
At 5 minutes a call X 12 calls = 60 minutes

You can see how an hour can get used up pretty quickly.

If you are lucky, you will get someone who is interested in your service and you may only make 8 calls but gain a qualified prospect.

Here are some tips on Cold Calling Best Practices:
- Have your list ready and if you are interested in making commission, do your lists outside of prime cold calling hours.
- Make your notes while you are on the call if possible. As you are listening to hold music or waiting to leave a message.
- Make good notes when you find a prospect. Outline hot buttons, objectives, other buying influencers in the organization and the general conversation. If you are making 50 + cold calls a day, you can't remember everything. Your notes will save you!
- Don't stop! Don't stop for a coffee, don't start a follow up email, set a minimum number of calls or a time frame and stick with your goal
- Get their email address and set a follow up. Even if they are not interested, set a follow up for 6 to 9 months out. Their requirements may have changed or your contact may have left the company which makes a new opportunity.
- Do your follow up emails during non peak cold calling hours. Maximize your time.

If you look at the math, if you generate one more cold call a day x 220 work days and your close ratio is 10% - you could generate 22 more sales a year. If your sales are worth $1,000 = $22,000 more in sales.

1 extra call a day could be the tipping point to bigger commissions!

Good luck and happy calling!

Susan Corcoran

Friday, October 15, 2010

What truly Motivates People?

This is a fascinating study on motivation and what truly moves people to achievement.

Every entrepreneur should watch this. This is the future

If you like this video, has many topics such as Freakanomics, How the Past Present and Future shape actions, Left Brain/Right Brain etc.

Time well spent.

All the best,

Susan Corcoran

Friday, October 1, 2010

Glass Door: What are your employees saying about you? is an unmoderated web site where employees can post comments and feed back about their employer.

I have to admit, I had a good laugh. I looked up my old employer, NetSuite, and there were, in my opinion, a few truths as well as just a lot of disenchanted people looking to vent.

For Example:

“Roll the Dice” written be a former NetSuite Toronto Sales Rep.

interesting product
SaaS is hot
not a lot of competitors in space


management steers good leads to its favorites
churn and burn approach to reps
selling to micro companies, less than $10 million in revenue
former uk based vp of sales was a jerk
oracle wannabe
immature attitude
being successful seems to be more a matter of luck than skill and hard work (and having manager feed you the good leads)
Advice to Senior Management

grow up; treat sales people well

To avoid going line by line, I will keep it short. Clearly an unsuccessful rep looking to deflect lack of achievement. Managers can't feed leads. The lead queue is automated by the NetSuite software. In my opinion, they held on to too many bad reps out of affection or sheer hope they could turn it around.

The VP from the UK, Dean, was a jerk. BUT, he was a jerk with a purpose. Skillfully delivered Simon Cowels (American Idol) type communication style which he executed on flawlessly. His tirades were legendary! Like Good Cop Bad Cop. He was the bad cop and I will tell you, he scared people straight and kept the soldiers in line. He was/is a GENIUS. If you take the fact that he has a photographic memory into account, he was the hired gun slinger that made sure reports were accurate, Managers managed their reps and the company objectives were moved forward. You could never pull a fast one on him. He could recall every detail of previous meetings and nail your coffin shut with your own words. Silly rabbit, look beyond the "jerk" and think about what people do and why they do it! He is probably one of the smartest, most effective people I have ever worked with. Now don't confuse respect for fondness, because I didn't bond with him either. If you take the personality out of the job and ask, did he do his job? The answer is - better than anyone.

If you are looking for a few moments of entertainment, look up some old employers, but remember, this is for entertainment only. Truth here is warped like a good movie script.

All the best,