We have looked at the cost of meetings scheduled and how to cut that down by 10x. But, most sales leader respond to cost with things like:
“Ryan, the cost is not that important. Our SDRs do more than just make calls.”
“Ryan, we don’t pay that much for our reps.”
You may be thinking the same thing. So, let’s look at this from another lens: SPEED.
If you have a team of reps who make cold calls and they make 50 dials a day, their average connect to conversion meeting rate is 10% (10 conversations to 1 meeting).
In all cases, we are assuming:
- SAME REP
- SAME LIST
- SAME MESSAGE
- SAME CONVERSION RATE
The only variable we are changing is the average D2C %.
This is how long it takes them to schedule a meeting:
Avg. Dial to Connect 2% (50 Dials to 1 Connect) = 10 Days to 1 Meeting Scheduled
Avg. Dial to Connect 3% (33 Dials to 1 Connect) = 7 Days to 1 Meeting Scheduled
Avg. Dial to Connect 5% (20 Dials to 1 Connect) = 4 Days to 1 Meeting Scheduled
Avg. Dial to Connect 8% (13 Dials to 1 Connect) = 3 Days to 1 Meeting Scheduled
Avg. Dial to Connect 10% (10 Dials to 1 Connect) = 2 Days to 1 Meeting Scheduled
Avg. Dial to Connect 20% (5 Dials to 1 Connect) = 1 Day to 1 Meeting Scheduled
Avg. Dial to Connect 30% (3 Dials to 1 Connect) = .7 Day to 1 Meeting Scheduled
Avg. Dial to Connect 40% (2.5 Dials to 1 Connect) = .5 Day to 1 Meeting Schedule
Let’s be honest, most SDRs are not even making 50 dials a day.
Look what happens when they are only making 40 dials a day. Their conversion rate remains the same at an average of 10%:
Avg. Dial to Connect 2% (50 Dials to 1 Connect) = 13 Days to 1 Meeting Scheduled
Avg. Dial to Connect 3% (33 Dials to 1 Connect) = 8 Days to 1 Meeting Scheduled
Avg. Dial to Connect 5% (20 Dials to 1 Connect) = 5 Days to 1 Meeting Scheduled
Avg. Dial to Connect 8% (13 Dials to 1 Connect) = 3.1 Days to 1 Meeting Scheduled
Avg. Dial to Connect 10% (10 Dials to 1 Connect) = 2.5 Days to 1 Meeting Scheduled
Avg. Dial to Connect 20% (5 Dials to 1 Connect) = 1.3 Days to 1 Meeting Scheduled
Avg. Dial to Connect 30% (3 Dials to 1 Connect) = .8 Day to 1 Meeting Scheduled
Avg. Dial to Connect 40% (2.5 Dials to 1 Connect) = .6 Day to 1 Meeting Schedule
Calculate your own time spent on getting meetings scheduled using this calculator.
Your speed to market is important because it dictates how fast you’ll get your product to your customers and whether you’re faster than your competition.
Delivering your product before your competitors is a market advantage and can help you develop a reputation as an industry leader.
If you are going to be in a market, you want to dominate a market (cc Math of Sales Market Domination).
Just imagine being able to cut the number of days it takes to reach the same person your competition is trying to reach by 10x.
How? Today, your reps waste 80 – 90% of their time dialing people who will never answer the phone.
Want to change that? Get started here.
