Holy Smokes! Today was the first day using the Mojo Dialer and it is out of this world. First a little background. I am a hardcore Cold Caller. I really don't mind being told no because I know there are a few golden nuggets (when people tell me Yes) in there every day. For the most part, I only call small biz because it takes forever for anyone to answer when calling residential. My baseline is 50 dials over the course of 45-50 minutes with a 10 minute break. I usually crank out 200 plus per day. The highest day ever was 300 dials. Also, my baseline contact rate is 10%...anything higher than that is just gravy, but history has shown that dialing during the day gives me a 10% contact rate. I consider a contact to be when I reach the decisionmaker. It doesn't matter if they say "don't ever call me again" or rush off the phone, a contact is only when I reach the decisionmaker which in my case is the owner of the company.
So, in 4 hours of dialing (50 dials per hour) or 200 dials, I typically reach 20 people. On average, 23 contacts get me an appointment. 30% of the held appointments become clients. Bottomline, a weeks worth of dialing yields 100 contacts, approximately 5 appointments, and roughly 1 client. I am in the financial services space so I am not selling a product, I am selling a service that is a combination of mutiple products. Each client has averaged a $200,000 portfolio so I am bringing in right at $800,000 per month in net new assets and my return on assets is right under 1.3%.
Back to today's results. I cranked up the dialer at 8 am which is my normal kick off time and started cranking. As a small caveat, when calling small biz, someone generally always answers the phone so I was initially concerned about the multiple line thing so i only used two lines. In the first hour (50 minutes actually), I made 115 dials, and spoke with 12 people! The numbers varied by fractions for the next two hours, but I ended a 3 hour session with 37 contacts and 339 dials. From those 37 contacts, I set two appointments (a little ahead of my average) and put one guy in the hopper who is really a warm lead for 3 months from now.
Are you kidding me? This is absolutely ridiculous! I just completed two days worth of work (what would have taken me 8 hours of manual dialing) in only 3 hours. I use Reference USA for business leads (FREE!) so my only cost is my time and the Mojo monthly fee so the upside is huge.
Here is the downside. I really don't like how the call disposition buttons are set up for my line of work. They can be customized, but I didn't spend a lot of time viewing the training video that shows you how to do it. We will see if this is a moot point after I take a look at the videos tonight to see if I can set them up the way I want.
Also, I am not a fan of how it counts a contact. For example, all of the call disposition buttons count someone as a contact with the exception of the No Message button. This is the button you click when an answering machine picks up and you make the determination to leave a message or just hang up. Again, for me, a contact is only when I speak to the decison maker...not when Sally Gatekeeper picks up the phone and tells me Bob BusinessOwner is on "another call" (Geez, how many times have you heard that one!
One day is only one day, but I am going to roll for 4 hours tomorrow and see what results I get. If today's results are any indication, I should crack the mythical mark or come pretty damn close to 50 contacts for the day. My goal is 200 contacts for the week which should put me over the Million per month Net New Asset goal I have set for the year. To be exact, I go from averaging 5 meetings to having right at 8.6 meetings. If my 30% close stays the same, we are talking about 2.5 clients per week or 10 a month versus my old rate of 4 clients per month. If my velocity of 1.3% holds true (no reason it shouldn't since most of what I do is managed money), we are talking a ridiculous bump in annuitized fees per year. Geez! It becomes even scarier if I put a couple of folks in A shares. Just insane numbers!!
Again, only one day worth of results, so none of this is statistically valid, but for a first day, I think this is pretty fantastic!
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Started an hour later than I intended today. Just completed my first call block. Dialed for 45 minutes and ended up with 121 dials and 17 contacts (based on my definition of reaching the actual decision maker). 1 appointment set. The guys is qualified although he is slightly beneath my minimum and my spidey sense tells me the appointment won't hold...but we will see. The downer was that I called one small biz and the owner died five years ago even though he is still listed as the owner. So goes "dialing for dollars".
Ten more minutes left on my break and then I am going to crank up the dialer again. BTW, I will never go back to manual dialing again!
So, in 4 hours of dialing (50 dials per hour) or 200 dials, I typically reach 20 people. On average, 23 contacts get me an appointment. 30% of the held appointments become clients. Bottomline, a weeks worth of dialing yields 100 contacts, approximately 5 appointments, and roughly 1 client. I am in the financial services space so I am not selling a product, I am selling a service that is a combination of mutiple products. Each client has averaged a $200,000 portfolio so I am bringing in right at $800,000 per month in net new assets and my return on assets is right under 1.3%.
Back to today's results. I cranked up the dialer at 8 am which is my normal kick off time and started cranking. As a small caveat, when calling small biz, someone generally always answers the phone so I was initially concerned about the multiple line thing so i only used two lines. In the first hour (50 minutes actually), I made 115 dials, and spoke with 12 people! The numbers varied by fractions for the next two hours, but I ended a 3 hour session with 37 contacts and 339 dials. From those 37 contacts, I set two appointments (a little ahead of my average) and put one guy in the hopper who is really a warm lead for 3 months from now.
Are you kidding me? This is absolutely ridiculous! I just completed two days worth of work (what would have taken me 8 hours of manual dialing) in only 3 hours. I use Reference USA for business leads (FREE!) so my only cost is my time and the Mojo monthly fee so the upside is huge.
Here is the downside. I really don't like how the call disposition buttons are set up for my line of work. They can be customized, but I didn't spend a lot of time viewing the training video that shows you how to do it. We will see if this is a moot point after I take a look at the videos tonight to see if I can set them up the way I want.
Also, I am not a fan of how it counts a contact. For example, all of the call disposition buttons count someone as a contact with the exception of the No Message button. This is the button you click when an answering machine picks up and you make the determination to leave a message or just hang up. Again, for me, a contact is only when I speak to the decison maker...not when Sally Gatekeeper picks up the phone and tells me Bob BusinessOwner is on "another call" (Geez, how many times have you heard that one!
One day is only one day, but I am going to roll for 4 hours tomorrow and see what results I get. If today's results are any indication, I should crack the mythical mark or come pretty damn close to 50 contacts for the day. My goal is 200 contacts for the week which should put me over the Million per month Net New Asset goal I have set for the year. To be exact, I go from averaging 5 meetings to having right at 8.6 meetings. If my 30% close stays the same, we are talking about 2.5 clients per week or 10 a month versus my old rate of 4 clients per month. If my velocity of 1.3% holds true (no reason it shouldn't since most of what I do is managed money), we are talking a ridiculous bump in annuitized fees per year. Geez! It becomes even scarier if I put a couple of folks in A shares. Just insane numbers!!
Again, only one day worth of results, so none of this is statistically valid, but for a first day, I think this is pretty fantastic!
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Started an hour later than I intended today. Just completed my first call block. Dialed for 45 minutes and ended up with 121 dials and 17 contacts (based on my definition of reaching the actual decision maker). 1 appointment set. The guys is qualified although he is slightly beneath my minimum and my spidey sense tells me the appointment won't hold...but we will see. The downer was that I called one small biz and the owner died five years ago even though he is still listed as the owner. So goes "dialing for dollars".
Ten more minutes left on my break and then I am going to crank up the dialer again. BTW, I will never go back to manual dialing again!
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It's actually good to hear someone who dials by hand say that it works, in a practical, commonsense way. No grandious claims of dialing 400 leads an hour, or claims of talking for 50 minutes an hour, but a good practical 2 lines got me twice as much type of story.
