Meddic metrics for logistics

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all right jeremy miner here welcome to another episode of closers or losers today i'm with my host my business partner our ceo matt ryder who's in our sydney australia office coming live here from our scottsdale zone office it's only 107 degrees here i'm glad the fall has arrived it's so nice so balmy it's so nice the the cool breeze that's coming in today we're going to talk about more on really what what it takes to like lead a sales team we're going to talk about certain things that you should look into your sales team like what metrics do they need those type of things now sometimes it varies industry to industry and we train 158 different industries at this point probably the industry that you're in listening or watching to us right now so there's going to be a few tweaks to that but we want to a lot of people have been asking like hey what metrics should i look at my sales team or what should i do about this guy or i've got this guy that does this or this lady that does that matt what are your thoughts i mean you're the expert in like metrics of a sales team what's your thoughts on this subject yeah so i think obviously sales process plays a pretty significant role into kind of what you need to track but i think that there are some sales metrics that matter and some that don't right [Music] [Applause] so like when i'm when i'm looking at a sales person to see if they're being effective like a lot of people jump to close rate which i don't think is an effective mechanism of telling if someone's being effective or not because like close rate it can be quite fluid depending on what type of cell you're doing also like the appetite because like for me when i was full-time selling my close rate would fluctuate greatly depending on lead flow so if i had a ton of leads like an excess of leads my closure would be really high yeah really high because i had the ability to kind of put a little bit of a barrier in between getting to me so i could add some friction points yeah like i could have a more of a disqualification discovery or i could have someone being a little bit tighter with who they let through or if we had like a like an application form we could tighten that up yeah that way i'm stacked always because i always want to be full i always want to be doing like 40 50 calls a week yeah so i'm stacked but those people are all a bit more qualified yeah so my close rates are higher now if if the lead flow drops then i go okay drop that mechanism because i still want to be full yeah so but i'm talking to less qualified people but so i'm still making the same amount of sales or even you know but my close rates lower yeah and it really depends on your industry like if you know because you're mainly talking about like inbound leads right so inbound leads that book on your calendar that you're actually talking to yeah let's say you're in an industry like life insurance or some other industry where you're just straight doing outbound leads and you've got let's say you know the company gives you 500 leads a week and you're only getting a hold of let's say you know would be good to get a hold of a hundred of those people and out of those hundred people you close 30 well that company will count your close rate like 30 sales from 500 leads not 30 sales from the 100 people that actually answered the phone because yeah they can't really tell so you know that industry you let's say you have a 15 closing rate and you could be making 500 grand a year with that but if you said to somebody on inbound leads hey my closing rate was 15 they'd be like that's horrible you know you got to have at least 40 or 50 percent for inbound so a lot of it just depends on if you're inbound outbound yeah whatever industry you're in for sure yeah i actually made a like i actually made an income calculator um which we can which we can put in the description below yeah and it was basically like it was for our guys to figure out how much activity how much they need to work given their current metrics so it's like put in your goal income so what i did is i said went to the guys and i said all right guys um you want to earn uh say twenty thousand dollars a month right you get nine percent as the cash is collected so let's just say you know you take 3 500. from there so you need this is without back-end recurrings yeah right you need 63 sales a month so 15 sales a week you have a close rate of 30 that means you take 49 sales calls with a show up rate of 75 you'd have 66 sales calls booked right then from there 66 sales goals booked if you're if you're doing a discovery call if you're disqualifying 50 percent you need to have this many triages or discovery calls taken and show up right anyway you need to work 112 hours which is obviously not going to happen right so it's like all right cool so then this gives them an ability to go oh okay cool like what is the lever that i need to pull right so it's like if i work on my triage show up right getting to eighty percent yeah i work on like my my close rate getting to 38 now i'm at 59 hours yeah sweet now let's just work on getting this to 6 100. average high higher price point yeah exactly so and that's just cash collection right and you can do a lot of things to collect cash but what it did is it gave them all like they all want to make 50k a month yeah but with their disqualification rates or with their cash collection rates they're like oh i have to work 700 hours a week so it's obviously not going to happen so it's like i wanted to give them an idea on paper in black and white as to exactly what levers they need to pull because small levers open big doors with sales i'm lucky with my brain works very good in pattern recognition so i've always innately been able to do this myself and whenever i was my own sales guy i had to look at all of my data so i had a look at so this is let's say i had an outbounder doing like lead magnet they were just outbounding someone booking them into a triage how many of those discovery calls did i have and what was the show up right then from there from the show up right how many did i qualify through then from the qualified through to the sales call how many did i how many showed up from the show up how many did i sign on my first call how many did i sign later on and what was my average cash collection what was my average commission then from there i look at all the lowest performing metrics now sometimes it was the fact that the show up right to that first call which wasn't me yeah so what i would do is i would train that person you train better yeah right so i train that person because that's the lever that i can pull because if i go from a percent show up right to a seventy percent show up right on that call my opportunity is massively increased the biggest lever that i pulled by learning any pq with you was not close rate it was none of that it was show up right to sales call yeah i had a shocking like 50 show up rate so if i would book 40 calls 20 would show up i went from i went to an 85 percent show up right yeah which is about as good as you're ever going to get it right yeah and so i went from having 40 from having 20 sales calls that i would take and signing about like 12 15. yeah but holding like 35 sales calls and then closing like like 28 of them so i literally doubles your income pretty much doubled my income through fixing one thing which was like not inducing sales assistance on my discovery call that's it and i made that money without even switching my sales call to nepq yeah and then as i switched my sales quote and apq my close rate went even higher and then all of a sudden i was making like a lot more money but like those small little levers in sales and and i think like one of the ways that i can tell a really good salesperson is i can say what's your close rate how many leads what's your cash collection what's your average commission like this this this and they all know it off the top of their head and that is someone who in my opinion is taking this seriously yeah as an actual job right yeah so if somebody doesn't know it that's a big red flag then it's a huge red flag like if i interview sales reps all i have to do is bang off those numbers and i'll bang them off in random order because if i ask them what your leads show up and i ask you an order they can just make that up so i'll ask it out of order and then i'll write it all down and then go well that doesn't make sense because you can't be earning that money yeah having that show up right with that commission with that cash yeah doesn't make any sense and they're like oh dear but if it all makes sense in a random order i know they know it yeah we just hired a new guy named scott yeah i he knew every single metric and when he he because he wanted us to coach him so i came on and i coached him myself because he started to inner circle and then he wanted me to help him so i did and and yeah and i was like okay cool send me your data and because i've been in sales for a while i knew exactly what one thing to work on and he went he just posted a testimonial i think he went from 14 to 40 000 a month yeah right in like 10 weeks yeah it was it was like a couple months yeah he was he was making on average like 15 16 grand a month and then he shot up to 35 like in two months and then the next or he shot up to 35 like in like six or 30 in six weeks they almost doubled and then he went to 40 last month yeah and it's all because like we just one he adapted an epq but second like me and him worked on like what is that little lever yeah we could pull because he had his daughter and he understood so like when you're in when you're a full-time selling because obviously you're the guru right like what were the things that you really paid attention to you know what i mean in terms of like what were the things that you were working on constantly to make sure that you could make the money because you made a shitload of money you made about three times more than what i ever did well it was it was my process so like i just had a process depending on the industry the processes were different right so i have a process where let's say like the last industry i sold in so i sold in four industries you know i sold my first industries b2c alarm sales right that was in college for like five years then i got into b2b sales like debt relief services for like another five years then i got into network marketing about four and a half which is a different process and then i got into like selling more i don't know if it i guess you could call it high ticket but it was more like financial investing events and stuff like that these were high ticket events like 30 50 grand so i just had a process so like monday through thursday those were the days where i moved people kind of forward in my sales system that i would kind of have because it wasn't like a one call close right in three or four times have different discussions they'd go through some content that they paid a little bit of money for off like online they might pay 100 bucks 500 bucks online there's your more you know high like high stake investors they might spend 500 on some type of training right to make more money and trading or whatever and then kind of go through this process we'd have these daily check-in calls for like five ten about 10 minutes i would say on zoom kind of in a group right so i take them through this process monday through thursday that's all i was doing monday through thursday so the very first call that i had with each peop of these people was like a discovery call right pulled out their emotions why they wanted to change all this stuff then the next three appointments were like on group calls okay where they got where i got to know more and like what they were learning and some of the content that they had purchased right because i was up selling them into like a much higher program they went from like a coaching like yeah yeah they were almost like if they bought something for like a thousand then i'm up selling them to 50 000 you're not going to do that on one call a lot harder so i would have like one call discovery bring out the emotion why they want to change blah blah blah then the next three group calls with like 10 15 people each on there and do like three or four of those a day for 15 minutes each that was about an hour of my time and in between those calls i would be having appointments checking appointments with people while they were getting their funding together for the 50 grand stuff that they were buying like the events and all that stuff right so i was constantly checking to make sure their loans were coming in they're getting money from their 401k always making sure that we had appointments and then on fridays i did something where i did like i don't want to call might be like a something like a business plan type of thing where basically we go through all their goals why they want to change do it in a group and then at the end of that i would have like 15 minutes appointments with like let's say 10 people so back to back to back so fridays i was always working like seven eight hours and i would basically close those people that's all i did on friday were just the business plan with the big group and then making sure our appointments with them back to back to back closing them to get their funding and then monday through thursday was the moving people forward process like a factory it was like a machine and it just spit out stuff now a lot of people in the industry like i was making 200 grand a month the average person in industry was maybe making 60 grand a year their process was chaotic it was all over calling people trying to do one-on-ones you know working 12 hours a day um you know they wouldn't do follow-ups really with people that were getting their funding they would just let them you know go off for a couple weeks and call back two weeks later hey did you get your funding and then no one would answer because they would you know something would happen was the group training sessions part of your process or was that part of the company's process it was part of a process i had actually instilled in most companies because everybody was always wondering what i was doing right so the owners would always be like hey can you teach other sales salespeople how to do this yeah i mean overwrite i can't i know right you give me an override i can't that's what would always happen so that was the last industry that i was in so because it was like a factory like that like my mind the way my mind works is like i have to have a step-by-step process because that's how any pq is developed a step-by-step structure right so that's the way my mind works because i if i can compartmentalize things and do them in a specific order i know i'm going to get the end result right now it might not be every time but i know that it's kind of like the roulette will right you saw me play on the roulette well i never lose but it's because i have a process that if i stick to the process i know i'm going to win most of the time and so to me sales is the same thing that's why there's connecting questions in situation then problem awareness because i know if i follow that process i'm going to get the end result that i want which is a sale most of the time well most sales people don't have that they're just chaotic and they wing it and because they don't have a process it's hard for the company because all their sales people are saying different things doing different things the company has no way to really monitor what gaps their sales people have if that makes sense right so when they're all on one sales process and they're all asking connecting questions and situations i'm awareness and if somebody's not as performing as well you can go in and listen to their calls like oh you're missing it connecting questions you're triggering resistance you need to slow down your tonality you're talking too fast or your situation questions you're asking the wrong ones and so if you could is a company when you learn that and you learn that process you have measurable data to know where you can fix the gaps but if all your sales people are doing different things you have no idea where to start that's the problem and i think the way that it'll work is like you sort of have to constantly calibrate sales teams yeah because you put everyone in a process and then from there everyone starts to think that they know better right and they do like slap them back so like that's kind of the process i'm at the moment with our team is like had them on a process everyone then starts to do it starts to widen out now i'm just batting them back in we'll do that three months later i'll have to do the same thing that's sales people like sales people are inherently kind of rogue yeah i mean yeah that's just the the inherent like you know good sales people are good sales people are difficult to manage yeah you know because like they do know their worth like i was and i i looked back and i was frustrated yesterday but i looked back and i was like man i was difficult to manage as a sales rep because like because i would just i would go to them and they would go hey can you do this and i go no i mean yeah but here's the thing here's the difference if you're making a certain amount of money and you're difficult to manage like companies will put up with that but if you're not performing at the top of the if you're not like one of the very best sales people that company has and you are hard to manage you're going to be one of the first ones out of the door i'm just telling you exactly yeah like i've told people many times you're not worth the hassle making a millions of dollars a year and that's why they you know you could do whatever you want if you have a sales person that's that good and they don't do their admin you can hire someone to do their admin for them yeah right like if they're that good but like you like and that's the thing like when you crap like when i figured out when i cracked sales like you told me you're like hey man congratulations you never have to worry about money ever again i was like sweet and uh i realized that and i was like man i can do this anywhere and then like i just i started banging so many deals for these guys and they were like can you train the team and i was like why oh so everyone can get better i was like how does that benefit me yeah exactly and they go like oh i'm a team player i go yeah but like i'm a commissioner sales rep in my own country like doing my own thing and i was like i was like brother like right now you're so dependent on me when i come to you for an enormous commission increase you have to say yes i go so if i train these guys to be even a third as good as me i was like that just lowers my level of influence over this company and he looked at me like oh no you figured it out i was like bro this is not my first rodeo i was like yeah it was like brother yeah and then um after that they kept asking me to do stuff and i left and came full time seventh level yeah no i remember it's so true it's like when you would you have the ability to to earn that the company that much money you have a lot of leverage in said company even if it's a very large company it's true like i you know i got promoted in my first organization the first company i worked for you know from sales person to like sales manager while selling and managing teams then to like you know vice president of sales and i wasn't the greatest at admin but because i trained everybody in the company was crushing it it wasn't like the company was like gonna kick me out because you suck at admin they just hired somebody to follow me around and did all the admin because they realized my skill sets were training everybody how to sell more not like typing in data so they just hired somebody and paid them ten dollars an hour to type in the data and it was like i was the perfect combo you know yeah exactly i have to do that it's funny but you got to be good remember we had a sales guy a while ago trying to say that to us that we ended up letting go and it was like yeah but you're not good enough it's like you're just not good enough it was like the best person since sliced bread and we're like well you're not even like the top like couple of two or three guys here like i mean you're good but you're not great like if you stay here longer and you learn more you can become great yeah you're good right now like you're trying to pull this on it's like we can just hire somebody and train them the real problem is people people who have only sold in one industry they have a like they just don't understand and so like i see it with like even some of our like competitors and stuff like that like they then they were successful sales people somewhat like you know 40 40 grand a month type earners but in one industry yeah and it's like i've sold in a couple industries you've always sold in a bunch of industries you you absorb a lot through different sales processes and different types of selling like in-person selling i've done a lot of in-person selling it's very different than on the phone but like you learn a lot of stuff from that yeah and you learn how to problem solve things and then i did just outbound leads just outbound leads for years you learn a lot from that right and then when i've done inbound leads i was like okay you learn a lot from that too so the combination of experience allows you to be pretty lethal when it comes to going and fixing stuff that's how you figure out every industry as a sales training firm like if i had only sold in one industry let's say my first industry which was door-to-door sales alarms and then after a year and a half i was like oh i'm gonna start my own sales training company well the only thing i could train would be door-to-door sales people probably alarms because i wouldn't have enough experience even if i was the you know i was the number one person in that industry that's all i could do it's not like i could be like oh i'm going to train uh insurance sales people how to sell more i'm going to train car sales people how to sell more i'm going to be able to write scripts you couldn't conceptualize and problem solve without years of experience i mean i had 17 years worth of experience that's why i can train you know we train 158 different industries that's why i can do that because i have the experience in b to c and b to b if i wasn't if i just stayed in one industry for a few years then start a company we wouldn't be here talking no exactly and yeah it just doesn't work so that's kind of what i see is the biggest floor in a lot of sales training and people who are very even like someone like a jordan belford hyper specialized in an industry sure like it just doesn't it doesn't hurt it's very difficult to convert and and and being able to sell in multiple industries and do it and kind of sell anything to anyone yeah um is it is a really really rare skill set and yeah like when i left alarms you know because i resigned as the the vp of that company very large company and got out of it they're like oh you're just gonna come back six months later you'll be back you won't be able to sell those other companies you can only make money in this in the alarm industry and i'm like oh just you just wait don't worry about me i'll be fine you know six months later they'll call me like hey do you want to come back here they said no no i'm good i'm making triple what i was making there don't worry about me i'm good like i don't i'm not good it's like i figured it out i don't want to sell like i can go sell them yeah really matter like i understand human behavior i don't just have like a script and i just know a few like rebuttals and keywords so i can sell a lot of here but i can't take that to a different industry like i went from b to c door-to-door sales to complex selling b2b debt relief services completely different i'm talking to homeowners in the ghetto of detroit door-to-door and now i'm talking to like ceos of like small cap companies sometimes larger completely different sales process you couldn't you could i mean you're talking night and day difference so when you have those the skill level you can pretty much leverage do anything you want and that's that you want sales people like you want a mixture right you want great sales people like that and you want a sales process that can take your your below average people and get them good enough to be average you want to take your app you want to have a sales process and take your average people and make them good you want to have a sales process take your good people and make them great you do that that alone right there probably quadruple your sales absolutely and where where would they go to find out this information yeah let's so let's say hey you guys want to learn a little bit more we're going to give you a little nibbles here we give you a little hors d'oeuvres go to our free facebook group first before you get involved in any of our training go to .salesrevolution.pro so we'll have a link here sales revolution dot pro right when you join the facebook group got about 30 000 people or so in there just like you a lot of them are in the same industry as you guys are listening to us right now right when you join check your messages on facebook and somebody on our team or myself will message you over free training called the nepq 101 mini course it's a list of like different nepq questions matt did that that's kind of going to break it down that will help you sell more whatever you're doing and we go live in the facebook group about three to four times a week different trainings different q and a's different client scripts that we break down a lot of them in your industry and if you guys want more advanced training that you just message us in those facebook groups you know put a post in there and somebody can reach out to you with different training options that we do for people in your industry because i can assure you that we are training people in your industry and companies that are making three five even 10 times more than you are right now even if you're doing good after they learned any pq matt thanks for time guys we'll see you guys soon bye guys hey guys if you enjoyed this here's another you can watch right over here right over here join our free sales revolution group click the link below join us and we're going to help you thanks for watching we'll see you real soon