This debate appears to be as outdated as the idea of gross sales…and plenty of issues in life, however we are going to maintain it to gross sales and advertising and marketing for the objective of this text.
Many I communicate with will fall solidly in the “quality” camp. In truth, I assume that for a lot of of you studying this, your reply may be high quality. Some of you would possibly reply “both” simply because you recognize me and the way I like to arrange a subject.
But, deep down inside, we in all probability take into consideration high quality as the winner of the debate.
…and to a big extent, there’s fact to this.
That stated, if you happen to’ve “grown-up” in any severe gross sales setting, you could sit on the different aspect of the equation. And when you might not agree with anything he ever stated, you would possibly suppose that Joseph Stalin was onto one thing when he said, “quantity has a quality of its own.”
When I began my gross sales profession 25 years in the past, I labored for Morgan Stanley Dean Witter. In that setting, you have been handed a cellphone e book, sat down in entrance of a cellphone, and advised to begin dialing—typically with no coaching aside from what you picked up throughout licensing. If you’ve ever seen the film Boiler Room, you have got a great sense of my early days. The premium was on amount, not essentially high quality.
This, too, was a sensible method. That was then. What about now?
The Debate Is Wrong
The debate about high quality versus amount is improper. You can’t presumably determine on one versus the different in the dialogue. Ultimately, as you might have suspected, you want each—and one different component I’ll point out shortly.
So, why do you want each amount and high quality?
Many of you have got labored with some form of e mail advertising and marketing. How efficient is it to ship only one e mail to the database? Not very. What if it’s a completely crafted e mail written by a resurrected Ogilvy or Collier? Still not very profitable. And, realistically, how many people persistently keep an open price of 100%? One immaculately constructed e mail merely isn’t going to attain everybody.
You might say the similar about our method to content material on social media. What are your probabilities of going viral with one put up and immediately placing your self on the map? It might occur, however I wouldn’t guess on these odds, regardless of how good the video is—even in a world the place a 10-year outdated makes $55 million a 12 months on YouTube.
So, let’s apply this to your gross sales efforts. What if you happen to have been to attain out to a handful of individuals each few months with a top-quality value-laden message? Either you get fortunate, or more probably, you find yourself with nothing. And but, for a lot of company homeowners and solopreneurs I communicate with, that is their “sales plan.”
Here is what I see continuously occur with salespeople and enterprise homeowners alike. You put some effort into your prospecting or, more typically, get a referral or two. You catch a number of wins alongside the approach, after which immediately you’re busy, and cash is coming in.
Are you continue to prospecting? Probably not.
And therein lies the subject with the debate about amount over high quality. You want each, and it’s lacking a important consider the equation—sustained effort.
There are few in a single day successes. Many studying this text are aware of Gary Vaynerchuk. We know him as a super-successful man with a large following on social media. But he frequently talks about the indisputable fact that it took lots of of movies earlier than he had any significant traction.
I ran a video sequence for a few years, RightMind Mashup, and I shot 22 straight weeks of video earlier than somebody talked about that they had seen any of them. It was my brother-in-law. And whereas I like him, he isn’t precisely my ideally suited buyer. It wasn’t till week 36 that I closed a sale due to the movies.
At this level, I’ve generated over $900,000 in gross sales from that sequence, however it took sustained effort and in the end more than 70 movies. I had high quality content material. I wanted amount to begin making a distinction. But, the driving pressure for each parts was sustained effort.
Beyond needing each amount and high quality, you should give some thought to the ratio of every issue. It appears one thing like this:
Quality + (Quantity/X) x Sustained effort = Success
I do know. Algebra won’t be your favourite topic. Oddly, it was one among mine, however I digress.
The divisor, X, in the equation signifies that you just want to alter the amount to maintain the high quality. What do I imply by that?
There isn’t any query that it’s difficult to sustain a excessive quantity of high quality content material over a sustained interval. Unless you have got a content material workforce, it may be almost unattainable to produce content material as you proceed to run your enterprise and handle purchasers. So, you have got to alter the amount to maintain the high quality.
When somebody joins my mastermind group, they typically discuss how they need to produce content material daily to assist increase their enterprise. For most, this isn’t practical.
Writers know all about “writer’s block.” Musicians have related points. I’d think about that each “creative” on the market suffers from this at occasions. Trying to go from zero to day by day content material on a social media platform is a recipe for frustration and burnout, or at a minimal, a discount in high quality.
So, alter the amount so you possibly can maintain the high quality.
The similar method holds on your gross sales efforts. Keeping up a excessive quantity of high quality gross sales calls (applies to all communications: e mail, messenger, texts, and so forth.) over time is difficult if you happen to don’t have a salesman. As an apart, I warning enterprise homeowners in opposition to hiring a salesman too quickly. They are costly, and except you have got a rock-solid, documented gross sales course of, you’re throwing good cash after unhealthy outcomes.
When referring to high quality in your gross sales calls, this includes more than what you say. While that’s essential, most of your success is dependent upon your constant follow-up with prospects. Pre-pandemic, the common salesperson—and, in case you are a enterprise proprietor, you’re a salesperson—adopted up with prospects twice. In 2021? Once.
According to Hubspot, the variety of calls wanted to attain a prospect elevated from 8 pre-pandemic to a minimum of 18 calls since 2021.
In quick, the high quality of your gross sales is dependent upon the amount and sustainability of your follow-up. The third component, sustained effort, is the multiplier that defines the size of your success in the market.
As purchaser conduct continues to evolve, our gross sales efforts should adapt. As a younger funding man, I might get away with the amount method as a result of that is how everybody did it, and nobody had Caller ID. Buyers immediately educate themselves on-line, display calls on their cellular units, and make money working from home. These circumstances change all the things about how we method prospects immediately.
Rather than participating in a debate of high quality over amount, proceed to keep high quality with ahead sustainability —that is the key to your long-term success in enterprise.
Rather than participating in a debate of high quality over amount, perceive that you just want each in a approach that you may maintain long-term. This turns into the method for future success.
Founder of RightMind, Inc. Dominic helps leaders and entrepreneurs discover and fulfill their objective. At RightMind, we imagine you began your enterprise with a fantastic objective in thoughts. The problem may be serving to your purchasers “get it.”