In professional sports, everything is measured. Statistics are so important in baseball they’ve earned a new name – saber metrics.
Big business does a great job of measuring performance as well, with key indicator reporting part of the culture in many companies.
But what about financial services sales professionals? How well do we do at keeping score?
What should we measure?
There are just a few keys to sales success:
- How many qualified prospects are in my sales funnel?
- How many new contacts will I make this week/month/year?
- How many interviews will I conduct this week/month/year?
- How many applications will I write this week/month/year?
- How much premium will I write this week/month/year?
- How much first year/renewal commission will I earn?
Creating goals around each of these metrics establishes a basis for measuring your performance.
Now you can begin to know your numbers and keep score:
- What’s your contact to interview ratio?
- What’s your interview to application ratio?
- What’s your policy placement rate?
- How much commission are you generating per prospect?
It doesn’t matter if you are motivated by your earnings or by the number of people you help plan for their future long-term care needs, knowing your numbers and keeping score is an important step in building your business.
At USA, we’re ready to work with you to produce the numbers you want to achieve in your business. Let’s step on the field together!