Reverse Engineering YOUR Numbers

So, there are a number of theories and opinions around what one of our partners and longtime colleagues has so appropriately called the “Math of Sales.” Some people propose that there is one magic number of touches to make into a pool of leads or targets to get your optimal returns. In fact, we are often asked what that number is as we start working with new clients, as other outsourced sales businesses have proposed they know THE number. Much like our friends at Salesvue believe – we follow the methodology that there could be any number of equations that work for your sales process.

In my early days in sales, I did not have the success that I was supposed to have selling life accident and health insurance. I was following the proposed single equation given to me by management and never hit my numbers. I couldn’t understand it, and my wallet was paying the price as I was on 100% commission. Fortunately for me, I had a mentor at the time who pointed me towards the secret formula – there is no one set of numbers.

Knowing your numbers and reverse engineering the Math of Sales that works for you as a rep, as a sales channel, or as a team must be a priority and first step when results do not match expectations. We follow a process now that backs into the numbers you need to be successful based on conversion rates instead of just looking at raw numbers. Understanding the rate at which you connect from call, to conversation, to opportunity, to close is far more important than just the number of dials you can make in a day.

As a motivated sales professional looking to grow, establish your baseline and then figure out these statistics for your own efforts. In my insurance days I turned my production around when I figured out that my show ratio on appointments was always around 60% of the company average. Instead of setting the prescribed 10 appointments in 2 days, I had to work to average 18-20 in order to see the same number of leads.

Of course, this all seems pretty easy and straight forward, but it is often skipped in sales management teams and regular performance reviews. Most managers look at low production and begin to work on increasing activity. Instead, look at your ratios and figure out where there is a shortfall and how to address it. Knowing this math of sales for yourself will unlock increased sales production.[/fusion_text][/fullwidth]