The Real Cost of Ignoring Your Call Data

Here are the stats to set the record straight:

• According to Salesforce, high-performing sales teams are 1.5x more likely to base forecasts on data-driven insights.

• HubSpot reports that 40% of salespeople say getting a response from prospects is getting harder.

But forget the industry stats for a second.

Let me tell you how I learned this lesson myself.

Back when I was running my first startup, I thought I had sales "figured out".

My team was making calls, closing deals, and living the dream (or so I thought).

One day, I sat down to really analyze my team's performance. Turns out, we were wasting 70% of our time on low-quality leads and using a pitch that was completely useless.

After realizing our best closers weren't even using our pitch-deck, and that 70% of lost deals all had the same 2 things in common. We completely revamped our sales process, and began qualifying leads harder.

The next month we closed an additional $50,000 in cash collected WITHOUT hiring any additional team members, or changing a single thing (just the sales deck, and the lead-routing process).

That means…. I had basically wasted $150,000 in lost profit over the previous 3 months, simply because I wasn't looking at the numbers…. Ouch.

This is why data is gold.

Key Call Metrics That Actually Matter

Alright, let's get into the meat of it. What should you actually be tracking?

Here are the metrics that separate the A-Players, from all the others:

1. Close Rate: How many calls is your salesrep closing?

2. Cash Collected Per Call: For each call you send salesreps A, B, or C; how much cash are the collecting?

3. Revenue Per Call: Similar to cash collected per call, how much is each one of your reps closing in contract value per call?

4. Calls Completed: How many calls is each salesrep doing?

With these numbers you'll easily be able to see who's not only closing the most deals, but who is generating the MOST VALUE per deal, who is creating the most cash-flow for your company (your lifeblood), and how consistently they can keep this up before performance starts dipping (is it 50 calls, 80 calls, 120 calls?).

With this data you can begin to hyper optimize your sales process, who get's the best leads, and how many calls you send to all of your salesreps.

Doing this, you can EASILY add an additional 20-30% to your bottom-line within the first 30 days of implementation.

Without this info, you're completely in the dark….

Not a smart move IMO.

How to Set Up Effective Call Tracking (Without the Hassle)

Now, I know what you're thinking. "Great, Julian, more stuff to track. Just what I needed."

But hear me out. The old way of tracking calls was about as fun as watching paint dry.

Spreadsheets, manual entry, the whole nine yards

But we're in 2024. There's a better way.

Here's how you set up call tracking with Cosmicly in less time than it takes to make your morning coffee:

1. Sign up for Cosmicly (duh).

2. Connect your Calendly account.

3. Link your Stripe account.

4. Watch the magic happen.

Seriously, that's it.

From that point on, every call you make through Calendly and every invoice you close through Cosmicly/Stripe gets automatically logged and analyzed.

Analyzing Your Call Data: Beyond the Basics

Alright, you've got the data. Now what?

It's time to start looking for patterns, in your most successful salesreps.

You might notice your successful reps:

• Have longer call durations

• Listen more than they talk

• Get more questions asked by the prospect

• Have specific objections they were able to overcome

On the flip side, underperforming reps might have:

• Shorter durations

• They doing all the talking

• Fewer questions from the prospect

• Unaddressed objections at the end of calls

Regardless of what the patterns are, Cosmicly helps you identify your highest performing salesreps in 2 minutes.

Best part is, we give you detailed-insights WITHOUT having to crunch all the numbers yourself (saving you countless hours of spreadsheet admin hassles).

Turning Data into Action: Practical Strategies to Boost Your Close Rate

Now, onto the good stuff.

Here's how to take those insights and turn them into cold, hard cash:

1. Optimize Call Duration: If your data shows successful calls lasting around 30 minutes, aim for that sweet spot. Don't rush, but don't drag it out either.

2. Master the Art of Listening: Aim for a 40:60 talk-to-listen ratio. That means you're listening more than you're talking. Trust me, it works.

3. Craft Better Questions: Use your data to identify the questions that lead to successful closes. Then, make them a standard part of your pitch.

4. Level Up Your Objection Handling: If you're consistently losing deals to the same objections, it's time to revamp your rebuttals, and objection SOP's.

And remember, at this point this isn't theory anymore.

These will be battle-tested decisions based on your actual team's data.

Common Pitfalls in Call Data Analysis (And How to Avoid Them)

Alright, time for some tough love.

Even with all this data at your fingertips, it's easy to screw up.

Here are the landmines to watch out for:

1. Correlation ≠ Causation: Just because two things happen together doesn't mean one caused the other. Be careful with your conclusions.

2. Vanity Metrics: Number of calls made means jack if you're not closing. Focus on metrics that directly impact your bottom line.

3. Ignoring Context: A technique that works for enterprise sales might bomb in SMB. Always consider the context of your data.

Automating Your Sales Process with Data Insights

Here's where Cosmicly really shines. We're not just about collecting data; we're about making your life easier.

Integrate your Call Data, Commission Data, Invoicing, and Payroll Automation all in 1 place.

• Track your team's performance

• Track commissions automatically

• Invoice & bill customers seamlessly.

• Pay your team in 2 clicks.

Cosmicly doesn't just give you data; we give you sales superpowers for commission based sales teams.

So, let's wrap it all up.

Here's the action plan to get started:

1. Sign up for Cosmicly (seriously, what are you waiting for?)

2. Set up your integrations

3. Start tracking your calls

4. Analyze your first week of data

5. Implement one change based on your insights

6. Rinse and repeat

Remember, in sales, knowledge isn't just power - it's profit.

So start turning your team's data into dollars.

Your future self (and your bank account) will thank you.

Now, let's go close some deals!

Best,

Julian