If you dial for dollars, the question should not be, “How many dials does it take for me to make a dollar?”

The question should be, “How many dollars do I make every time I make a dial?”

Here’s why: Let’s say you are a full cycle AE who sells a $15,000 product or subscription.

Your base salary is $60,000/year with a $120,000 OTE.

Your commission rate is 20%.

This means you make $5,000/month and $3,000 for every deal you close.

You know that you close 20% of your SQLs (deals that you forecast into your pipeline).

You know that you only convert 40% of the meetings that attend your introduction/discovery process (only 4 out of 10 meetings are forecasted into your pipeline).

So what this means is that it takes ~13 held meetings for you to close 1 deal.

For you to generate a held meeting for yourself using the phone (dialing for dollars).

You know that 75% of the meetings you schedule over the phone actually show up to your appointments (if you book a meeting 3 out of 4 actually eventually show up to your discovery call).

You know that 15% of the conversations you have when you finally reach a prospect schedule a meeting with you (it takes ~7 conversations to schedule 1 meeting).

So what this means is that it takes ~9 conversations to get 1 meeting to hold.

And what that means is that it takes ~111 Conversations to close 1 deal @ $15,000.

So this is where you need to pay attention to why knowing your “Dollar Per Dial” matters.

I mean it really matters because let’s assume that you are working the exact same list you always work. For example, 1,000 cold leads researched on LinkedIn and enriched with premium direct dial & mobile phone data where we learn the average D2C is 5%.

You are using the exact same workflow/sequence/cadence you always use to produce the funnel math we outlined above.

Said differently, the three dialing for dollar examples I am about to share assume you would be talking to the same people with the same message. The only difference is how you get to the conversation.

**Example 1**: Status Quo

Load up your list and call through each of the 1,000 records 1x through.

You average 50 dials a day against this list.

After 1,000 dials you reach 50 prospects (5% D2C).

And this has taken you 1 month to complete.

50 Conversations

7.5 Meetings Scheduled

5.625 Meetings Held

2.25 Opportunities Created

0.45 Future Deals (Or $1,350 of future commissions earned)

With this performance you are sitting around 27% of quota.

You would make $5,000 (base) + $1,350 (Commission) = $6,350/month

You will be taking home $76,200 on the year.

This is $43,800 below your OTE.

Your “Dollar Per Dial” = $6.35.

**Example 2**: Dial More!

If dials = conversations and conversations = $, then let’s just double down on the dials!

Load up your list and call through each of the 1,000 records 2x through.

You average 100 dials a day against this list.

After 2,000 dials you reach 100 prospects (5% D2C).

And this has taken you 20 business days to complete.

100 Conversations

15 Meetings Scheduled

11.25 Meetings Held

4.5 Opportunities Created

0.9 Future Deals (Or $2,700 of future commissions earned)

With this performance, you are sitting around 54% of quota.

You would make $5,000 (base) + $2,700 (Commission) = $7,700/month.

You will be taking home $92,400 on the year.

You just worked 2x harder and yet you are only on track to make $16,200 more for the year.

This is still $27,600 below your OTE.

Your “Dollar Per Dial” now = $3.85.

You are now making $2.50 less per dial than you did in example 1.

**Example 3**: Use Phone Ready Leads® Predictive Phone Number Scoring Algorithm

You first send your list to PRL® and score your data.

You decided to follow PRLs® best practices and call through 400 of the 1000 records.

You average 50 dials a day (the same as Example 1).

After 1,000 dials, you reach 200 prospects (20% D2C).

And this has taken you 20 business days to complete.

200 Conversations

30 Meetings Scheduled

22.5 Meetings Held

9 Opportunities Created

1.8 Future Deals (Or $5.400 of future commissions earned)

With this performance, you are sitting around 108% of quota.

You would make $5,000 (base) + $5,400 (Commission) = $10,400/month.

You will be taking home $124,800 on the year.

This is $4,800 over your OTE.

Your “Dollar Per Dial” = $10.40.

You are now making $4.05 more per dial than you did in example 1.

If you dial for dollars, then you should know your “Dollar Per Dial”. Nobody wants to make more dials just to make more dollars. But top performing reps have no problem making dials that make them more dollars!

This might sound like the same thing, but there is a big difference as you have seen in this simple exercise.

Not convinced yet? Click on the video below for more examples:

Would you like to learn what your current “Dollar Per Dial” Metric is? Schedule a free consultation to learn your exact number.