When Are You Making the Most Money? – A Data Driven AnswerTrey Gibson
At Spotio we see doors being knocked all the way from 7 in the morning to 10 at night. Wouldn’t you like to know what times are bringing home the most bacon? With the “bacon” being defined as leads and sales.
That is what Steve, one of our loyal Spotio customers in Arizona wanted to know. He works in the route business and typically starts knocking doors at 9am. He sent me an email asking how he could make an easy to read chart that would tell him this.
It is always nice to view the data on a graph so I put this spreadsheet together so you can copy and paste your data right in here and we do all the work for you and spit out a visual representation of where you make the most money.
Easy, Free and Helpful. Doesn’t get any better than that!
So the data I am going to be using today is from his Spotio account. Of course you can use your knock times from any system as long as they are in an Excel format.
Download the Free Spreadsheet HERE
Rather than take two hours with screen shots and typing I made a quick video that goest through the steps one by one.
Here’s the results we found with Steve’s data:
I wrote some notes on the chart image as I was reviewing them. We can see that he starts knocking at about 8am and stops in the early afternoon around 4pm. My suggestions to Steve would be to go out a little later in the morning and stay out a little later in the evening to see what happens to the contact rate.
Notice his leads and sales spike around 10am to 1pm which is what? That’s right, when people are home for lunch.
Other Data Sets
I looked at a couple of other companies numbers that were wondering the same things:
This company starts knocking doors early as we can see by the big red red line. Notice that their contacts are pretty much flat lined for 4 hours until about 2pm. This is waisting quite a bit of time and wearing out the canvassers/sales reps. How would you like to knock doors or prospect for 4 hours without getting a hold of anybody? By the time you actually get to give your pitch you will be too tired to spit it out. This company should wait until 1pm to go out knocking and then go until later in the evening.
A similar situation for this group. They start pounding the pavement at 8am but don’t really start seeing anything good till 12pm. Although they are getting some traction at 10am as I can see by the top left chart. I would suggest getting more data by splitting the times of day to go canvass. One week go from 10am until 2pm and the next week go from 2pm to 6pm and see what the contact rates are like.
As I wrote about in the other blog post you are going to want to work neighborhoods at different times in order to maximize the contact rate. If you see a trend emerge that is telling you to focus on a certain time of the day for a certain neighborhood then pay attention to it. A retiree area will product good contact rates early whereas another area may flatline until the afternoon.
Another interesting thing I see in the top right chart is the number of Not Interested’s early in the morning. Meaning they are catching people at home but not getting any traction with them. I wonder if the homeowners are students or unemployed and therefore have less expendable income?
You can analyze yourself to paralysis if you wanted to. My point of creating this method is to not spend hours each week understanding when you should be knocking but rather let you get a visual representation of when you are having success.
Try different things, keep accurate data, review the data and get better. Continued learning and improvement is possible for everybody.