As women entrepreneurs, time really is our most precious commodity.
Unfortunately, I repeatedly hear from other women experts that they’re overwhelmed with where to spend their time and what to focus on.
They’re battling problems like procrastination and imposter syndrome, and they just need some sort of framework or benchmark to help them focus on what really matters.
There are actually five key metrics that can help you eliminate some of the challenges in your business and drive toward the growth you are seeking. They are:
1. How Many Prospects Have I Contacted This Week?
Prospecting is not about contacting everyone under the sun, but rather, it’s about identifying and finding those leads who are a good fit for your business solution and the outcomes you create.
According to Hubspot, more than 7 out of 10 buyers want to hear from salespeople early on in the buying process. Furthermore, 82% of buyers accept meetings when a salesperson reaches out first.
So, needless to say, it’s a pretty important and effective aspect of selling yourself and what you offer to prospective corporate clients.
If we drop the “sales lingo” for just a moment- prospecting is about initiating and cultivating relationships.
We are all in the business of people. Are you reaching out to potential clients with pertinent insights? Are you introducing yourself as a valuable resource?
If you are struggling to contact prospects every week, perhaps you should identify the root of your challenge.
Are you avoiding the task, altogether? Are you not sure what to say? Are you intimidated? Are you unsure of where to find executive buyer prospects in the marketplace?
Tracking these metrics is about more than just entering a number in your CRM (client relationship management). These numbers illuminate your strengths and opportunities.
You have complete control over how many people you reach out to weekly.
If week over week you find yourself with excuse after excuse for why you haven’t initiated conversations with your ideal buyers, it’s time to face the music and be honest about why that’s the case. More importantly, I strongly recommend you devise a plan for how to change those zeroes into massive, imperfect action.
2. How Many Discovery Conversations Have I Had This Week?
Discovery calls are the most important part of the sales process, in my humble opinion. When done correctly, your discovery call process will position you in a league of your own.
You get the opportunity to inquire about your buyer’s pain points, their needs, gain a further understanding of their status quo and shed light on an advantageous path forward.
But it’s quite more than that…
In the words of Simon Sinek,
“People don’t buy what you do; they buy why you do it and what you do simply proves what you believe.”
The discovery call conversation is a way of illuminating beliefs and identifying if there is alignment between your business values and your prospect’s organizational values.
If each week you’re having several discovery calls and thus winning several deals, you are in a great position!
But, if week after week, you are struggling to book discovery calls with your ideal buyer- that is a red flag.
You must be in conversation with executive buyers to close corporate deals.
However, (most) buyers aren’t going to jump on a call to do you a favor.
Instead, they are looking for specialized expertise. They need to believe that a mere conversation with you is going to be worth their time and present a “quick win”.
Are you positioned in the marketplace as someone who adds value in each interaction?
Or are you simply hoping someone is going to give you 30 minutes of their time so you can figure out what to sell to them?
3. How Many Proposals Have I Presented This Week?
Being asked to present a proposal is quite a positive step in the corporate buying process.
You and the buyer have identified a connection- and now it’s time to agree to the next steps!
I believe that you truly win the business in the discovery process. The proposal phase is about nailing down the terms, conditions and investment level.
If you’re consistently earning opportunities to present proposals, that signifies you’re consistently having fruitful discovery conversations with qualified buyers.
If you’re having several discovery calls weekly but those calls are not advancing to the proposal phase…
Is it because you’re not talking to actual decision-makers?
Is it because you’re poorly positioned in the marketplace so buyers are booking calls with you without a clear understanding of the services you provide?
Are you failing to lead as a trusted advisor and carve out clear solutions?
4. How Many Deals Have I Won This Week?
If the answer is several — then clearly, whatever process you are following and message you are relaying to corporate buyers is working! In which case, I would say, keep doing what you’re doing.
But, if it’s been a while since you have had a new client sign-on, it might be time to look back at the previous three metrics and troubleshoot where you may be making a misstep.
Is it because you’re simply not reaching out to enough prospects? If so, why is that? What is holding you back? Perhaps you need a little guidance from a coach to point you in the right direction in the corporate marketplace or help you re-establish your confidence in positioning yourself.
Is it because you’re losing them in the discovery call stage? If so, what might you be able to shift or adjust in terms of how you are co-creating your solution?
If you are submitting several proposals but not getting much positive response, you may want to take that as a signal that the messaging in your proposals may not be aligned with what your buyers are searching for.
5. How Many Deals Have I Lost This Week?
This is an important metric to keep track of because, again, it shows you where you might need to tweak, improve or realign what it is you are selling, who you are selling it to, how you are selling it or how you are delivering on the promises you made.
Being an entrepreneur is hard work, and whenever something is not moving forward how we expected it to, it’s simply a learning opportunity.
We celebrate deals lost inside of The #BigMoney Movement!
There are several valuable lessons that come from the opportunities you don’t secure. Most of us pay closer attention to our missteps than our victories.
For many of the women entrepreneurs we serve, “deals lost” are actually deals where they choose not to work with clients due to a red flag that shows up on behalf of the client during the sales process.
It signifies awareness that even as service providers, we have the power to be selective in who we serve.
Want more strategies to grow your business with corporate clients, and deepen the impact of your business? Apply for access to my complimentary masterclass training at thebigmoneymovement.com.
Or, if you need a leg-up on how to approach executive buyers to book more meetings, download three of my proven sales scripts at corporateclientscripts.com.
About The Author: Liz J. Simpson
Liz J. Simpson has been recognized by LinkedIn as a Top 15 Sales Influencer. She is a speaker, sales strategist and trainer.
She has been featured in NBC, CBS, SXSW, 40 under 40 and as a Hubspot INBOUND Fellow. She’s been recognized as a Demand Gen Thought Leader award winner as well as a SalesHacker Top Sales Leader and Female Speaker.
As founder of the sales consultancy, Stimulyst, her team specializes in empowering organizations to accelerate growth through personal branding, strategic relationship-building, and consultative new business development.
Liz is also the founder of The #BigMoney Movement, a global movement empowering thousands of women entrepreneurs across the globe to take up space, shatter gender disparities and close 6-figure corporate deals.
When she’s not out training professionals to become “fluent in #bigmoney talk”, you’ll find her at home with her husband and three children, aged 5, 16 and 17.
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