Stats and numbers; two words tossed around more in the door-to-door industry than a bowl of chicken wings at a Super Bowl party. We track and report them daily, but what is the real purpose of stats and which stats, out of the gazillion available, should you track?
So before we begin, what exactly is a stat? According to our best friend Webster, and our stats 110 college professor a stat is, “the practice or science of collecting and analyzing numerical data in large quantities, especially for the purpose of inferring proportions in a whole from those in a representative sample.”
Thanks Webster, and now an analogy to better understand the purpose/importance of stats.
Let’s look at this beautiful house for a moment; did it magically and effortlessly appear? The answer is NO because a home takes time, care, and a specific process.
We don’t know all the logistics of home building, but you need a foundation, framing, drywall, electric, plumbing, etc.
And we use this analogy because it’s hard to build something great in our industry without tracking the right stats to get to there.
When you track the right stats, you create a solid foundation for your sales team to build a beautiful, well-constructed home (aka SALES). Pass on multiple stats and you’re building a home without concrete. And we’re not as well-versed with building beautiful structures like Bob the Builder, but a home without a foundation is a disaster. You’re better off building sand castles.
So the purpose/importance of tracking multiple stats is to:
- Evaluate your reps’ performance and make adjustments to help them close more sales.
- Know reps’ strengths and weaknesses to create better training messages.
- Give more direction in correlation meetings
- Holds reps accountable for their work.
- Knock doors with a purpose.
- Help reps meet their goals.
Meaningful stats help you as managers and owners make better decisions. It’s that simple.
And we know it’s easy to only focus on tracking the #1 most important stat: SALES. But we encourage you to do better with tracking other stats that get you to the sale.
Here is a list of five stats we suggest you track closely so you continue greatness with your team.
Doors Knocked: The number of doors knocked is self-explanatory. You need to know how hard reps work in their assigned area. So if you’re tired of wondering if reps knock 10 doors without a sale and then go to the beach or a movie, this stat is for you!
People talked to: This builds on the foundation of doors knocked because knocking 100 doors sounds like a great stat, but reps don’t sell if they don’t talk to potential customers.
Conversion Percentage: The number of doors knocked divided by the customers. How many doors a rep needs to knock to get a sale.
Closing Percentage: The number of people talked to divided by the customers. How many people a rep needs to talk to until they get a sale.
Sales: And now the stat you have waited for; SALES (a no-brainer)! This is the culmination of the other four stats. Your reps will sell more because you guided them the entire process.
For more information on building your own custom stats visit salesrabbit.zendesk.com/hc/en-us/articles/205233667-How-to-Build-Custom-Stats
Did you find this useful? Anything you would add? Leave a comment and let us know.