What metrics can you measure when you do cold calls to see if you're improving, even when you don't get an appointment or make a sale?
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What "parameters" makes sense to measure/benchmark when doing cold calls, so that you know when you're making progress even if you don't close the call for an appointment or a sale? For example, in football, even if you lose a game, there are certain parameters that you can measure and see improvement... a goalkeeper might have improved his defense ratio vs past games... ball possession might have improved vs past games... etc so that even when you lose you know you're making progress. What would be the significant parameters in cold calling? What parameters makes sense to measure/are significant/ can contribute to a higher probability of appointment/sale when cold calling?
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Answer:
Such parameters would be very specific to the nature of cold calling, the audience, benchmark of previous audience response (other than agreeing to an appointment) and what you are trying to achieve from it. You can't get "better" without records of a past benchmark or industry benchmarks if you don't have your own. Eg if you are selling insurance if currently 9/10 people bang the phone down the moment they hear it's a telecaller. "Better" could mean that every third person hears you out before they say yes or no and you have benchmark data that states that on an average for every 50 persons who say no 1 says yes. You know then you are improving! However in a case - say trying to raise funds for a charity - everyone hears you out till the but only 1/100 actually donate. If you have benchmark data that says that of every 20 people that ask a clarifying question one makes a donation and currently only 20/100 ask a question. "Better" would be if on an average 40/100 ask clarifying questions. Hope this helps.
Madhuri Sen at Quora Visit the source
Other answers
I did some cold-calling back in my high-school days for a small company, I can understand how frustrating it can be. In general, you are concerned with 2 main metrics: Calls made & Completed Sales. But, as you said you want to measure progress. I would start by setting up a "Cold Call Sales Framework". Document all the necessary steps (In excel or a platform) a customer needs to perform to get to "Completed Sales". Then start applying ratios of those steps to Calls made & Completed Sales. This is a very simple framework, but it would allow you to measure where you are improving. Hope that helps!
Rohit Divate
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