Number of dials for experienced advisor

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Apr 13, 2010 8:31 am

I am solo Indy and already have a book of business and do receive client introductions.

I am looking to start a cold calling campaign to "supplement" what I am currently doing.

My goal is to only bring on one new household per month from cold calls.

What would be a good number of dials per day in order to achieve my goal.

Again this is only a supplement. What is a "realistic" number.

I appreciate your help.

Apr 13, 2010 10:43 am

I would start with 50 calls everyday for a week...and work up..

Ideally 125 calls/ day would probably work for you, but you might burn out if you start there.. I would do 25 in morning, 25 in afternoon/evening to start and build.(add 25 calls/day after 2 weeks of consistently hitting 50)..

Apr 13, 2010 7:10 pm

OMO, jeez, a math problem and me on my second beer. 

Here goes:

One contact for every 6 dials.

One lead for every 7 contacts.

One close for every 15 leads. 

You need 30 dials a day for one close a month.  You may want to add in that it takes 6 contacts before those one in 15 leads turns into a close.  That means the 30 is 30 cold calls a day, plus the contact to the leads every two weeks.  That math should turn into 21 dials a week to all those leads you found.  Grand total of 34 dials a day!

Yep, take Squash2's advice. 

Apr 13, 2010 11:50 pm

Think about how much spare time you have in your day.  Double whatever amount of time you came up with.  Call that long.  You will be happy with the results.

Apr 14, 2010 8:09 am

I need some help,,, I am a wussy and I make about 25 calls/day... My biggest fear with making more calls(like 200-250) is that I will burn through my list in a month.. and what if I get nothing? I know stupid, But that is how my mind rationalizes it... Any ideas?

Do I just say f*** it... And do the 250 calls/day and worry about the list at the end of the month?

Apr 14, 2010 8:56 am

I had this fear when i first started.. What happens when i burn my list in 30 days... Then i realized if you call 250 people for 30 days, you will get something.. And plus there will be additional people to call back(prospects) and others who didn't answer or were quick to dismiss to call back..

If you make 250 calls/day for 30 days you should be able to generate some decent business regardless if you call residential or business, offer product or service....

Apr 14, 2010 10:46 am

I'm not much of a cold-caller, but strictly from a business perspective, if you do 250 calls/day for 30 days, or 30 calls per day for 250 days, the only difference will be that the 250/day gets you the leads QUICKER.  If you make 30 calls per day, and you are getting NOTHING after 3 weeks, what are the chances that you continue doing it for 230 more days?  However, you could rationalize 30 days of punishment to see whether it would work or not.  If you start doing 250/day, and are getting some leads each day, then you could justify backing off on the daily volume knowing that you will get some results.  If I only did 30/day and got nothing, I might wonder whether I am not making enough calls, or whether it simply won't work (I'm doing something wrong).

Point is, 250/day for a few weeks might get you to your answers QUICKER than doing 30 per day.

Of course, this coming from the guy that doesn't cold call.

Apr 14, 2010 10:50 am

But it is logical...

Apr 15, 2010 6:46 pm

It's not about the number of dials, it's about how many contacts. My first year stats were as follows;

364 dials wold produce 14 or 15 people that were "open to new ideas" or what I would consider a lead. That's one of three or four contacted from a good list to become a lead.

I would make one of them a customer (vs. a client then partner.) after 9 contacts.

If this is a side show for you I would say you need eight new contacts a day (vs. 40+ if you're starting from scratch). That will give you a couple 'customers' a month and with luck one 'client/partner'

Apr 21, 2010 2:06 am

A targeted list with a targeted message will increase your conversions.

A lot of guys just blurt out the message without "hearing" the prospect, and the prospect feels like they are being bulldozed - and guess what? Click.  That is why guys dial their insane 250 daily  - I do about 20% of that with the same results. You will burn out with 250 daily I guarantee it. 

If you record yourself, you will improve by leaps and bounds. But, that is another painful obstacle especially if you play it for someone else to hear.