Cold Calling, the numbers game

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Aug 4, 2009 3:52 pm


The following made its way into my office via another firm or broker... over the last 4-5 years it has hung on the board where we will keep track of dial, minutes, etc....

I believe that it is a good foundation reference point and as you get better on the phone and dealing with clients should find yourself beating the tar out of these numbers...

If you don't CC or believe in it, move on... what works for some, doesn't for all (Thank God!)...

Anyway I hope this helps....

THE NUMBERS GAME

 
The most important ingredient to being successful in this business is having a game plan. Championship football teams don’t win the super bowl by going out every Sunday and saying, “ Let’s throw the ball around a little, have some fun and try to score a few times.” Actually quite the opposite is true. Everything must be planned to the very last detail. Nothing left to chance.

 “The key to being successful is to do the common, uncommonly well.”

 

1.     INVENTORY:

 

Take an inventory of your business. This is the first step. As an account opener, your inventory should consist of:

 

a.     Do you have a lead source?

b.    How many leads do you have?

c.     How many cold callers getting you leads?

 

  2. The Numbers:

 

Remembering that the key to the business is the numbers game and that you MUST do the following:

            

a.     Cold Call

b.    500 dials per day = 10 QUALIFIED leads

c.     10 QUALIFIED leads x 30 days

d.    10 leads = 1 account

e.     300 leads = 30 accounts

 

It’s a simple formula that works if it is applied. So now you are ready to go out and apply the principles, the basics the numbers, and open accounts!!!          



A little cheese, but if you do it you'll thank me later...





Aug 4, 2009 11:01 pm

Noticed that you mention setting goals around dials. I have set goals based on contacts (actual conversations); however, this has often led to frustration because sometimes I simply cannot get ahold of many people. Setting goals around dials does free me up to focus more on what's under my control.

Aug 4, 2009 11:30 pm
Stonewall:

Noticed that you mention setting goals around dials. I have set goals based on contacts (actual conversations); however, this has often led to frustration because sometimes I simply cannot get ahold of many people. Setting goals around dials does free me up to focus more on what's under my control.

 
Read Nick Murray's information about Painless Prospecting. It really helps you focus on what you can control. When you focus on outcomes instead of inputs it is easy to get frustrated.
 
Full Disclosure - I work at a bank so I am a dumbass
Aug 5, 2009 10:24 am

Good stuff!!!

Dial and smile, exactly how i built my business.
 
Nick Murray is well worth the time and money to read.
 
I will add that being the rejector instead of the rejectee helps. What does that mean? Simply this: I'm the master of a world class financial advisory business. I specialize in helping rich folks reduce their taxes. And i'm good at what i do, i mean really good! Oh, Mr prospect, you want to miss this opportunity to deal with the best? Ok with me- Thankyouverymuch-click dialtone! Next!
 
And i was very good before i was good!