How many phone calls does it take to close a sale?
You may not know the answer right offhand, but with some diligent activity tracking, you will be able to calculate this valuable number.
When I was selling life insurance, I knew that if I wanted to make 3 sales on any given day, I just had to make 75 phone calls. My formula was 25 calls = 1 closed deal.
How did I know this?
I tracked my activity.
Every day I would put a scrap piece of paper near my phone. Every time I made a phone call, I put down a tic mark under 'Calls.' If the person I was calling picked up, I put a mark under 'Contact.' I also tracked how many personalized emails I sent every day, how many proposals I sent out, and how many deals I closed.
By tracking this activity for 3 months, I was able to uncover my formula.
Using a simple spreadsheet (like this Google Doc, which you are welcome to copy and use) you can determine how many phone calls, how many contacts, and how many proposals it takes you to close a sale.
You can also watch this screencast to see the Ace of Sales Calling Formula in action.
We would love to know your experiences in working with this. Has tracking your activity helped you to become more efficient? Tell us in the comments below!