MSP Cold Calling KPIs from the first “Call Lab” Session

We have the team at Mosaic Voice running analytics on our cold calling lab sessions so if you’re too busy to watch you can skip the 3.5 hours belowand skip right to the MSP cold calling KPIs!

Great Cold Calling is Only As Good As Your Ability to Replicate It

Anyone can have a great day calling.  Anyone can have a terrible day.  It just so happened that my first Call Lab day in May was also my best Call Lab day, total!  We had Mosaic Voice, a leader in sales training technology, send us their analysis of Call Lab, Day One:

The MSP Cold Calling KPIs we’re measuring with Mosaic Voice are: compliance with script requirements.

How Did I Do?

Did I introduce myself properly?  Yes, 92% compliance.

Did I qualify the lead on the first call by number of workstations?  Oooh, only 36% of the time.

I only asked the company that took the meeting about IT spend and servers.

48% of my calls went right to voicemail.

What Do These Numbers Tell Us?

Over one 3.5 hour calling block?  Not very much.

Over 20 x 3.5 hour calling blocks?  A lot.

There Are Very Few Unsolvable Sales Prospecting Problems

Most cold calling issues center around volume (you’re not making enough calls), consistency (you’re not disciplined in your approach to calling) and time (you’re not giving your calling campaign enough time to work).

Most Important KPI:

Is the agent attempting first call qualification whether or not the call outcome is successful?

If they are not, that one moment of non-compliance to process can burn several valuable hours of calling over the course of the next few months – if we don’t know how many computers they have, we could be on a wild goose chase, trying to track down the decision maker of a company….that only had three computers to begin with.

Not a qualified lead.

Not a lead worth making 17 more calls to.

A lead we could have disqualified, and spent those 17 calls far more productively.

The “no’s” are extremely important if you want to get to “yes” – and the faster you can get leads into or out of your bucket, the better it is for your sales pipeline.  It only takes one caller dialing fifty unqualified leads to burn months of calling time.  Scale that up by ten callers…then by thirty…and you can easily see why process adherance is essential for cold calling success.

The Issue With Managing to One Metric Only

The compliance questions tell us how often the agent asks the question – but not how effective they are at getting their question answered.  To decide if the agent is struggling with initial gatekeeper converstaions we’ll need more data.

Are they asking the question at the right time in the conversation, or are they just spitting out the question to game the system and get their compliance percentage ranking up?  Every KPI needs a “counter KPI” – or more simply, a second metric that makes gaming the first one impossible.

Bonusing your team on one KPI leads to a lot of those one things – meetings, for example.

But does it lead to highly qualified meetings?  No.

How Do You Choose a Quality Control Counter-Metric?

For highly qualified meetings you would need the counter KPI of a low no-show rate.  You could technically schedule meetings all day long – they’re not hard to get if you’re good at cold calling and charming.  However, ultimately your goal is cold calls that convert to paying clients.  To achieve this you need to look at multiple data points over several months of cold calling.

Three months of outsourced cold calling is a good baseline to create realistic and attainable KPIs to manage your (or our) team to.

Seven months of outsourced cold calling should see your initiative hitting the point of revenue neutrality – anything above this point is now a return on your investment.

Twelve months of outsourced cold calling should provide you with a 200% return on your investment, if you’re charging at least $100 per user per month, and you’re only signing contracts that have a minimum of 20 employees that require support.  See Our ROI calculator here to see if an outsourced approach to cold calling would make sense for you!

Thanks for following along with The Call Lab!

We’re taking a few weeks off from our live online calling, we’ll be back at it mid-June.  Thanks again to Mosaic Voice for providing us with the metrics behind the scenes!

Looking for more cold calling tips for your MSP?  Check out this interview with Managed Services Platform!

Interested in Cold Calling for your MSP, or to the MSP market?  We’d love to help.  Email hello@managedsalespros.com or fill out the form below and someone will get back to you quickly!

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