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Last week, I mentioned I'd send out a newsletter about crafting an outbound sequence tailored for Asana. However, I overlooked the end of Q3. I'll get that out to you next week.
When I joined Chili Piper in 2020, Q4 felt like staring down an intimidating experiment.
The result? I missed my quota.
January brought a pivotal observation session with one of my sales mentors.
His hypothesis? "Dive into your data. Identify the anomaly in your methodology."
To be transparent?
I'd never truly applied the scientific method to my workflow. But after that insight? The quota? Achieved.
Let's decode that.
Because the beauty isn't just in the results—it's in the methodology. Drawing inspiration from scientific principles, I believe you can optimize your experiments (inputs) and achieve tangible outcomes in Q4.
Here's a common error in our goal-setting process: We’re handed a variable.
Like: “Objective? 45 demos for Q4.”
We dive in. No plan. Just hope.
But here's the twist: a goal without a plan is just a wish.
Here’s my 5-step formula:
Step 1: Analyse: Dive deep. Understand.
Step 2: Game plan: Map it out. See the path.
Step 3: Schedule: Time-block. Commit.
Step 4: Quantifying the Value of your RGAs
Step 5: Test: Keep iterating. Refine based on results.
Step 1: Analyse Q3
Dive into the lab of your CRM or Sales Engagement Platform.
Metrics: Compare your conversion rates (the quality) and your activities (the quantity).
Channel Examination: Categorize your meetings based on the medium of prospecting.
Make a list of all the meetings you booked by prospecting channels
How many emails did you send? How many qualified demos?
How many calls did you make? How many qualified demos?
How many LinkedIn messages did you send? How many qualified demos?
How many videos did you send? How many qualified demos?
How many people did you add to a cadence?
How many accounts did you prospect?
What’s the quality of those accounts?
Then, synthesize. Identify the patterns, constants, and variables.
Which formula yielded success? Where was there a mismatch?
To the newbies, the SDR initiates, you might wonder, "But Elric, I don’t have those numbers. What's the protocol here?"
Elric's Insight: “Great question!”
Start with a reference point. Use your team's average as your control group.
Don’t have SDR on your team? Zero in on activities, dissect your week, and refine.
Think of it as an iterative process, much like perfecting a formula.
Step 2: Game Plan for Q4
Now time to plan Q4 based on your review.
How many business days in Q4 2023?
October: 21 days
November: 20 days
December: 20 days
Total: 61 business days
But during Thanksgiving in November, people take 1 week off and the same for Christmas (if you work with customers that celebrate Christmas), but they take 2 weeks off.
Factor in the Thanksgiving and Christmas breaks, and our equation changes:
October: 21 days
November: 15 days
December: 11 days
This gives us 48 actionable days.
Your objective? 45 qualified demos at a 70% show-up rate.
That translates to 65 bookings. Break it down:
Daily: 1.17 meetings booked
October: 25
November: 18
December: 13
After reviewing your metrics in Q3, you booked:
40% of your meetings via LinkedIn with a 2% conversion rate
30% of your meetings via cold calls with a 1% conversion rate
30% of your meetings via cold emails with a 0.32% conversion rate
To replicate and amplify in Q4:
1 758 cold calls made to book 17 demos
5 515 emails sent to book 17 demos
1 124 LinkedIn messaged to book 23 demos
Your daily and weekly game plan:
Step 3: Schedule your game plan
Time to schedule your gameplan
Now, you are going to time block your days to make sure you are doing your activities every day to hit your quota in Q4.
Decoding the Daily Formula:
Calls: Schedule 2 focused blocks, each lasting 1 hour. Your aim? 30 calls.
Emails: Allocate 3 dedicated blocks, each spanning 1 hour. Target? Dispatch 41 tailored emails.
LinkedIn: Reserve a solid hour. Your mission? Engage with 13 potential leads through messages.
This formula sums up to 6 hours.
Think of these as 6 crucial hours of Revenue Generating Activities (RGAs) that, when executed daily, build the molecular structure of hitting quota in Q4.
So it gives you 2 hours to prepare your prospecting sessions, internal meetings, etc.
Step 4: Quantifying the Value of your RGAs
Let's dissect the monetary weight behind each of your daily tasks.
Why? Because understanding the fiscal significance not only supercharges motivation but also infuses purpose into every micro-action.
Ask yourself:
What's the financial value I extract from each task?
And, in the grand scheme, how much value does my company get from these actions?
Imagine: Q3 commissions sit pretty at $10k USD with a goal to hit a sourced ARR of $100k USD.
The Financial Breakdown: Delve into the spreadsheet attached. This isn't just data; it’s the monetary translation of your effort.
By understanding the tangible economic value of every task, you’re not just seeing numbers; you’re visualizing impact.
Each call isn’t just a call—it’s potential revenue. Each email isn’t just words—it’s currency.
Step 5: Evolve by Testing
Imagine being a scientist in a lab. Each day, the same experiment, the same tools, the same outcomes. Over time, the initial excitement fades. The antidote? Exploration.
I often echo with fellow SDRs and sense a recurring theme: the monotony trap. Here's a truth bomb: monotony isn’t a product of repetition. It’s born out of stagnation. The moment we halt our learning journey, monotony settles in.
Unleash Your Inner SDR Scientist:
Challenge your methodology.
Just like in a lab, not all experiments succeed. But every test teaches us something. Every change in procedure, every new element introduced brings fresh insights.
So, what's your hypothesis for this quarter?
Which facet of prospecting are you going to add a twist to?
My Q2 was earmarked for cold calls. As founding BDR, the terrain was new. Crafting the right message while juggling multiple tasks? That was a bit like trying to observe two reactions simultaneously. Not the most successful mix.
Come Q3, a new element entered my lab: ChatGPT at CastorDoc.
If you don’t know how to do all of this, I created a spreadsheet you can use to break it down and hit your quota in Q4.
You can find it here, and make a copy.
I made this video to show you how you can use it.
To recap, to hit quota in Q4, try this:
Step 1: Analyse
Step 2: Game plan
Step 3: Schedule
Step 4: Quantify
Step 5: Test
It’s not easy.
But it's easier than seeing 45 qualified demos with no plan.
Next step?
Copy the spreadsheet, review your Q3 performance, use the spreadsheet, and make your own: plan, schedule, and quantify Q4.
So, there we go. Thanks for reading.
That's all for this Sunday.
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See you again next Sunday.
Happy prospecting!
Elric
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