Five cold calling performance metrics for every organization

by on February 1, 2010 · 0 Comment POSTED IN: Selling Essentials Info Center

The five Cold Calling Ratios to watch for success

How do you know how effective you are with cold calling? Of course, the number of sales you make is the best measure of success. But there are other numbers – key ratios – that can be a big help in keeping your cold call efforts on target.

Five must have cold calling metrics
There are five ratios it pays to watch. You can measure them initially as a baseline, then compare every quarter to see whether you’re making progress or regressing.

Here are the key cold calling ratios:

  1. Total calls connected. This ratio measures the number of cold calls you make against the number of prospects you either get through to, or who return your call. If you don’t hear back within 48-72 hours, record the call as a nonconnect.
  2. Management contacts made. This is a refinement of total calls connected. It measures contact with senior decision-makers of the prospect company – the people who are likely to give the ultimate thumbs up or down.
  3. Talk time. This measures the a average amount of time you spend on the phone with each prospect. Longer is better.
  4. Meaningful callbacks. This ratio compares the number of contacts you make with the number of “next-step” calls you get prospects to agree to, and to actually take.
  5. Warm vs. cold calls. This ratio measures your number of cold calls against the number of “warm calls” – those where you had a referral or other introduction. There’s no ideal warm-to-cold ratio, but you probably don’t want it to get far out of balance either way.

Based on material from Skip Miller. Published by AMACOM.

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