Jen Abel: evaluation

Transcript context

…While we're on this topic. What's a good conversion rate of these sorts of cold outreaches? Conversion rate is interesting. Because everyone's so focused on conversion rate. I get that in the beginning until you have some wins, you have to focus there. But I just want to reverse engineer it backwards a bit. Once you kind of have this, and I'll talk about it in a sec, which is win rate. Win rate is if I got Lenny on a phone call, and he went through the sales process, and I signed him up. And I spoke to 10 Lenny's and only Lenny R was the one that signed. That's one out of 10, that's a 10% win rate. So if you have a really high win rate, let's say 30 or 40%, you actually don't need as high of a conversion rate on the outbound, because you know if you get someone in the funnel, the throughput is very healthy. If your win rate is really low, you need that conversion rate to be much, much higher, because you need more and more and more at bats. So conversion rate is a funny thing. In the beginning I get it because you don't have a lot of customers going through the pipeline yet. But there's people focus on it in a little bit of a false sense because interest rate truly is also dictated by win rate. So I just want to specify that. That's a really good point.…

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