We have probably all heard the phrase “Good, Better, and Best”. This is typically used in product comparisons. The same might hold true when related to performance. Let’s take sales as an example. While we all want to be the “best”, what if your current status is only “good”? Is being the best too far away or is just getting “better” the appropriate first step?
I think it is. Case in point. I am terrible at anything even remotely related to marketing. What if I could get a little bit better at it, and then maybe even a little better than that? My answer is … “O.K.”. Maybe I even use AI to assist me? I do and my best example is marketing messages and emails. Someone might say … “You could do better!” My answer would be … “This is better!”
They might also say … “You cheated! You used AI!” Oh, hell. If I am smart enough to deploy AI to assist me in becoming better … why not!? Please remember, I’m a marketing idiot. Now explain to me how leveraging AI is any different than hiring a marketing professional to help me. The only difference that I can see is that using AI costs me nothing and I’m probably becoming more educated and self-sufficient in the process.
Back to better as being good enough, at least to start. Let’s say that you could get 10% better at every aspect of selling. Your ratios of calls to appointments, appointments to proposals, proposals to sales. If you have never run the numbers, you will be amazed!
Here’s where you are now …
- Average sale = $10,000
- You make 20 prospecting call daily
- Number of prospecting calls needed to secure one appointment = 10
- Number of meetings resulting in one valid opportunity = 5
- Your closing ratio = 40%
We work the numbers backward …
- I make 20 calls per day = 100 per week = 400 per month
- From this I secure 40 (400/10)appointments
- I then have created 8 (40/5) valid opportunities
- I close 40% (8 x 10,000 x .4) of these = $32,000 in sales for the month
Next improve everything by 10% …
- 22 calls per day = 110 per week = 440
- One appointment for every 9 calls (10 – 10%) = 49
- 49 divided by 4.5 (5 – 10%) = 11 opportunities
- 11 x $10,000 x .44 (40 + 10%) = $4,400 in sales for the month!
All of this and … you are only 10% better. Your sales went up 37.5%!! Your dollar sales for the year increased from $384,000 to $528,000. Where I came from, a 10% commission rate was standard. That would be $14,400 in my pocket at the end of the year. Now think of what would happen if I also increased my average sale value.
There are so many variables where a measly 10% increase would deliver incredible results. Note that 90% of this exercise is directly related to your selling skills. In this example, the only extra effort started with you making only two additional prospecting calls per day! It’s based on improving your sales performance ratios!
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Are you thinking about a CRM? If you would like to explore whether or not Nimble CRM might be right for you, please book a free 30-minute Zoom consultation with me by going to my calendar. To learn more about our Nimble training and implementation services, please visit our Nimble CRM training services page.
In addition to Nimble CRM, I also offer sales training and training on LinkedIn as well as getting started with AI (Artificial Intelligence). I can even assist with hiring new salespeople with initial interviews and pre-hire DISC personality assessments.
I would also be happy to connect you to a marketing professional who I know and trust or to an automated yet personalized and human-to-human LinkedIn prospecting system. Please reach out to me at craig@adaptive-business.com for an introduction!
Craig M. Jamieson
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