Sales Lead Management Today

How do you estimate the number of Inquiries needed to make quota!

I made an entry in the Linkedin SLMA Group that asked the following question: 

A company selling a product with an average sales price of $12,000 needs to sell $3,000,000 of product in the coming year.

$1,000,000 will come in from the existing pipeline.

The closing ratio is 25% of the buyers (which is a percent of the total inquiries).

Follow-up of inquiries by the salespeople  is 50%.

How many inquiries will it take to create $2,000,000 in new business? Tell us how you came to your conclusion.

Scott Tate of the greater Boston area responded with his estimate of the answer.  To see Scott’s answer go to the Sales Lead Management Association Linkedin Group. But that is cheating. 

Come up with your own answer.

SLMA Radio 5 PM PST – Phil Fernandez, Anneke Seley and Michael Michalowicz

Our lineup tonight is to hear from three industry movers and shakers.  These are truly influential people in their industries with strong opinions and they are passionate about positive business growth. 

Tune in at 5 PM PST on SLMA Radio to hear the commentary from Phil Fernandez, CEO of Marketo , and interviews with Anneke Seley (author of Sales 2.0), who is CEO of Phone Works and Michael Michalowicz  (author of The Toilet Paper Entrepreneur ) and  founder of 3 multi-million dollar businesses who is also a Columnist for The Wall Street Journal

Tune in