You Don’t Know What You Don’t Know
Last week I gave a talk at Seed Sumo for a group of start up tech companies on the importance of using real data from customers to make educated decisions on the direction to take a business, in this case it was software. I titled the talk “You Don’t Know What You Don’t Know” where I discussed how Ignorance is NOT Bliss when trying to run a company. Targeting in on specific KPI’s will allow you to pivot faster and make decisions that will change the direction of the company for the better.
But it is no different in what the users of SPOTIO are doing. After all, it is why the app was created in the first place; to use data collected from the field to make decisions on how to increase revenue and reduce expenses.
During my interactions with customers, SPOTIO users seem to fall into two different categories: the individual sales rep who is looking to increase their income by working their territory and leads better and the manager/owner who wants to increase their revenue by ensuring their team is working the areas assigned to them in the fashion that they (sales rep and manager/owner) both agreed upon.
[pullquote]In ALL cases it is the data that is driving the decisions for SPOTIO users.[/pullquote]
Let’s dive a little deeper into the data that SPOTIO users can, do and should use for accurate door to door tracking. I’ve already talked about specific KPI’s that every door knocker should know in this post “3 MUST KNOW Metrics for Door to Door Sales” so I won’t touch on those too much but I do encourage you to read that post and put it into action.
First off, I would like to commend the individuals that use tools like SPOTIO because they are willing to be completely honest with themselves. More times than not in my sales management career did I learn that underperforming sales reps didn’t want to know how little they actually did on a daily basis so wouldn’t even dream of using a tool like SPOTIO unless it was forced upon them by management and they still would offer up protest. Keep on keeping on!
1: Are you even working?
If you aren’t trying then you won’t make any sales. The first thing SPOTIO users are learning is how many doors are being knocked per day. If your personal sales are low or your team isn’t performing how you think they should then this is always where to start. You will be shocked at how few doors underperforming reps are knocking each day. It may seem like you are out there all day because its hot or attitudes are terrible but hitting 6 doors isn’t going to bring home the bacon.
Once you have established that a minimum number of doors are being knocked each day, let’s call it 50, its time to get more advanced.
Data to Know:
– How many doors knocked per day, week, month.
Goal either yourself or your team on how many doors the top rep in the company is knocking. This will give a good starting point.
2: Territory Management
Whole books are written on this subject so I won’t elaborate too much here for lack of space but its all about turning the Not Homes into Leads and the Leads into Sales. Are you knocking the Not Home doors at least 3 different times during the day? From 9 – 12, 1 – 4 and 4 to dark? How long has it been since you have been back through that neighborhood? The corner house there was Not Interested last time but do you know why? You have a paying, happy customer 3 doors down but do you know their name and what product they bought? You should.
This is proper territory management. Don’t half ass work a neighborhood and move on to the next because “this block has been hit hard.” Know what stage in the buying process each home is in so that you can move them through the pipeline.
Data to Know:
– What stage is the home at in the buying process
– Date/Time of last attempt
Have reps work a neighborhood until each house is knocked at the three different times and the contact ratio is at least at 85%.
3: We have Confirmed you are Working, Now its Time to Get Better!
The “Infinite Monkey Theorem” (according to Wikipedia) states that given enough time, a hypothetical chimpanzee typing at random would re-create all the works of Shakespeare.
How the heck does this relate back to door to door sales tracking you ask?
Well, if you put that same monkey on the street knocking doors sure it might sell $1,000,000 worth of product and be on the top of the leaderboard but do you want to wait 45 years for that to happen? I don’t think so.
Its about getting better on an individual basis. As long as a minimum number of doors are being knocked each day then all the other ratios fall in line after that. How many people are you actually talking to? How many leads are you getting out of those contacts and how many Sales are coming from those Leads.
This is where continued training comes in. So you are talking to 85% of the people at the doors you knock but only getting 10% of leads? Well, its time to work on your pitch at the door. Or you are getting a ton of leads but only a small % of Sales? Work on closing.
Data to Know:
– Contact Rate
– Lead Rate
– Close Rate
– Show Rate: if you are using appointment setters
Not all reps have the same strengths and weaknesses. Know where you stand on each ratio so that you can get better. If you are an individual going at this along with nobody to benchmark off of then just pick one of the ratios above and practice on increasing it.
Companies today are being valued at billions of dollars not because they earn billions in revenue but because they have so much DATA about you.
As an individual rep or especially a team you are already out in the field walking houses so you might as well pay a little more attention to what is going on and record some good data.
What am I talking about here? It all depends on what product you are selling. For instance, let’s say you are selling windows for a remodeling company so you go into a neighborhood and start knocking. Not Home, Not Home, Not Home, Not Home… 10 doors in a row of people not answering their doors.
Is it a waste of time? Maybe…
BUT, what if out of those 10 homes you notice that 6 of them had old single pane, wooden windows that are costing the homeowner hundreds if not thousands a year in additional utilities charges. You could then send targeted mailers to these homes offering them a “free” consultation on how much money they could save each month by upgrading their windows. You’re not going to send mailers to the 4 other Not Home’s that have double pane, low e, vinyl windows because the likelihood of them wanting to upgrade again, now, is slim to none. You just cut your marketing expense by 40% by spending a few extra seconds checking out the surroundings.
Now, don’t be a creeper and look like you are casing the joint for a later attempted robbery. If your product is for the inside of the home its not a good idea to start peeking in the windows to see if you can see what kind of cable box they have next to their TV.
Data to Know:
– Does the Home need what you are offering?
Spend an extra 3 seconds as you walk to the next house to visually inspect what is going on and mark it in SPOTIO.
5: Be Backs or Second Chance Closes
Probably more than any other type of sales, door to door sales are typically one call closes. If that is only your business model then this section isn’t for you. But for those that can and should follow up on a hot lead, pay attention.
Studies have been done that show 44% of salespeople give up after one “no.” Customers are trained from an early age to say no. Expect it. But if you get a “sounds great but let’s set an appointment for tomorrow night” or “I love it but I need to talk it over with my husband first” how many times do you go back? Probably close to ZERO.
Data to Know:
– “Interested”, “Be Back” or “Proposal Given” status
– Specific follow up time/date
Have a tickler file of all your warm leads that you can either call during driving time or stop back by when you are in the neighborhood.
Don’t wait until the end of the day to try and remember who you need to go back and see. Mark it down immediately and set an appointment in your calendar.
While it is extra work to record what happens at each door, if used properly the data can be very, very valuable to both individuals and companies as long as it is used and put to work. If you are just getting into SPOTIO start by just tracking how many doors are knocked on a daily basis and then work up from there. Tools and technology are here to stay and getting better each and every day so you need to be taking advantage of it because I guarantee
YOUR COMPETITORS ARE!
If you want to find out more about how SPOTIO can help you and your organization in door to door tracking then reach out today. Call us at 866-212-1250 or email at email@example.com.