You need to use cold calling metrics to measure your success. By knowing the details around where you are performing best and where you are lacking, you can better adjust your strategy.
Cold calling metrics to track
1. Outgoing calls
Firstly, you need to track outgoing calls which could be by per sales person or total amount. You need to note how many calls are being made from each of your sales people because you will be able to determine who is performing best. This needs to be tracked over different time intervals because some times may be more favourable to more calls.
2. Average call time
Secondly, you need to track average call time that each sales person spends. Longer calls times reflect less effective sales pitches. If you are not able to grab the interest of the prospect quickly, you should adjust your pitch to be more direct. Thus, you must pitch aspects that highlight how your product or service is different from what currently exists.
3. Percentage of answered calls
Thirdly, how many people are you reaching in the calls that you make. Questions that you need to consider are: Is your database of phone numbers correct? Are you calling at the right time? Triggr has a free chrome plugin for you to gain access to accurate contact details fast to improve this metric.
Out of these calls, you need to identify which ones are qualified because if there is a low number, your lead list is outdated. In turn, you have to update your list and explore inbound opportunities.
4. Conversion rates
Finally, you need to track the conversion rates that you are experiencing from cold calling. For B2B companies, your goal might be to set up a demo or meeting for your product or service. You should measure this metric against each sales person because it will help you draw ties to what is working. Change your activity in accordance with your conversion rate, as this should be the most important metric. Industry standards for qualified leads is a 10% conversion rate.