Secret Formula for Sales Success Part V

I / $S= #S
#S X #P/S = #P
#P X #C /P = #C
#C X #A /C= #A 
#A / WORKING DAYS = #A/DAY
I / #A = VALUE OF EACH A

In the last 4 steps of the Secret Formula for Sales Success you have established your Income Goal (I), the number of sales you need to reach that income goal (#S), and the number of presentations you need to make to reach your sales number and income goal (#P). The next step is to determine how many sales contacts you must make in order to make one presentation (#C/P). This then allows you to solve for the total number of contacts you need to make to reach your presentation and sales numbers and ultimately your income goal.
First, let's define exactly what a contact is and how you should be tracking them.  A sales contact is :
1). Face to face contact with someone where what you sell is discussed.
2).  Telephone contact with someone where what you sell is discussed.
3).  Email conversation with someone where what you sell is discussed.
4).  Text message conversation with someone where what you sell is discussed.
5).  Social Media conversation with someone where what you sell is discussed.
The source of these contacts varies by industry and salesperson.  They could be a referral, lead, previous customer, call in to your business, walk in to your business, inquiry from your website, message or comment on a social media site etc. The typical outcome of these contacts is an appointment to make a presentation.  However, it could be a face to face contact  or telephone contact that leads directly into a presentation.  For example, at a car dealership a sales person greets a person on the lot for the first time and this leads directly to a walk around presentation, demo ride, write up and sale.  This scenario acheived 1 contact to 1 presentation to 1 sale. 
What we want to determine is how many of these contacts does it take to get to a presentation which includes telling them how they can own your product or in other words asking for the deal right now.  Again, you must know your numbers.  It is vital to your success that you document on paper or electronically how many people you are making contact with and how many presentations you are making.  Go back through your calendar for the last 90 days if possible and total the number of contacts you have made from the 5 sources above.  Then total the number of presentations you made in that same timeframe. Then divide your number of contacts by your number of presentations (#C/P). This gives your number of contacts needed for 1 presentation and then we take that number of contacts X our presentation number (#P) that we established yesterday.  This gives you your contact number (#C) required to reach your numbers and ultimately your income goal.
If you don't know your contact and presentation numbers, consult with your management.  But, I cannot stress enough that you must know your numbers.  The numbers don't lie!
Now that you have your (#C) you can move onto the next step.

Expect to Win!

--Jim