13 Ways to Set Sales Goals That Get Results
Goals are important. They give us direction and purpose. Not to mention, they give us something to look forward to. They march us down the the path towards success. Don’t beat yourself up (or beat your team up!) if sales numbers have been lacking as of late. You may have set the wrong goals. Or you didn’t bother setting any goals.
First, you’ve got to determine what your team’s goals need to be. Next, you can chop those goals up into smaller steps and actions. Those steps and actions have one aim in mind: achievement. The intention of this article is to examine the best thirteen ways you can can set up sales goals for your team. Let’s get right into it.
You’ve got to ask yourself questions that might seem obvious on the surface. But when you ask them, look past the obvious. Think long and hard about your answers. Here are some questions to ask yourself during the evaluation:
-Who’s on your sales team?
-What are they good at?
-What are they not good at?
The results of the next quarter won’t be good if you have’t solved the issues that held your team back last quarter. The first sales goal you put in place shouldn’t involve any metrics or numbers. It should focus on your team as a whole. Test out their capabilities. Identify their weaknesses. Then, and only then, can you work with them to set sales goals.
The days of wasting time are over. And it’s a huge waste of time when you’re selling to the wrong audience. That’s why every salesperson must know exactly who his or her audience is. It’s important to set sales goals that involve your specific customer as much as possible. First, identify who they are. Next, come up with a specific plan to reach your target audience.
Use the data that your company has gathered to your advantage. Identify important points such as the following:
-What’s the average age?
-How many males?
-How many females?
-What’s the average income?
There are plenty of business management tools available online. They all will assist you in determining these factors. You’ll be able to have a clearer perception of who’s buying your product or service. You’ll also understand the type of person that’s interacting with your company the most.
Don’t forget- you can also feature polls on the company website. These will offer a great deal of insight into your specific customers. Plus, you can use the information later on in certain campaigns.
One more thing- don’t get scared to ask for feedback from prospects and customers. Most are happy offer it. Feedback will tell you what deals, promotions, etc. are getting the most traction. It’s also a way to realize what needs to get improved in your sales process. The more you know your audience, the more you’ll sell.
What’s a USP, you ask? It’s your unique selling point/proposition. This is what separates your company from others. Let’s say a stranger were to approach you right now and ask what your USP is. Would you be able to offer a brief yet captivating response? If not, you better draw on up soon and share it with your team.
Once salespeople know their USP, they’re in prime position for a great campaign. With their USP in place, your salespeople will be able to sell with more ease. That’s because a USP shows a prospect what makes your product or service special.
What’s the aim for your business? It should be to increase revenue compared to last year. A great sales goal is never vague. It’s specific and involves numbers. You and your team will miss your target unless you’re as specific as you all can be.
When a year is reaching its conclusion, you should compare that year’s revenue with the previous year. This comparison allow ayou to determine if you need to kick your sales team into high gear. If your numbers are good, it will also allow you to understand you need to keep your strategy the same.
Remember, every fiscal year calls for a new revenue plan. Make that plan as specific as possible. Next, draft up an increase in percentage. Do your best to make the percentage grounded in reality and realistic. Don’t despair if dealing with numbers isn’t your strong-suit. Consider bringing in a sales consultant who knows how to crunch numbers. He or she will help you forecast a realistic percentage increase. This will give you and your team something to strive for.
Now you know the desired percentage increase for the new fiscal year. But it might seem too lofty and intimidating. That’s okay. It needs to be. It’s go big or go home when it comes to sales. Always aim high and strive for excellence. Modest goals are for failing companies. Are you a failure? Are you a loser? OF COURSE NOT! Never take any action that a loser takes.
Try to make your sales goals doable. You can do this by breaking them down into a series of small goals. Here’s an example. Let’s say your aim is to increase sales by twelve percent. Break down percentage increases to three percent each quarter. That’s only one percent a month.
Don’t be too hard on yourself. If your team has fallen well below sales targets, it doesn’t always mean the product or service you’re selling is bad. It might only mean that your sales team isn’t PRESENTING the product to service in the correct way.
Look into educating your team about content marketing. It’s a great way to boost awareness about your product. If done right, your team’s conversion numbers will improve. Content marketing accomplishes a major tasks. It educates people while also engaging them. Be sure that your content outlines the most important benefits of what you’re selling.
Content marketing builds brands. That’s why your company should be making media. (Blog posts, producing podcasts, filming videos, etc.) A sales team can only do so much. It’s up to the rest of your company to drive prospects towards your product.
Many studies claim that customer service is more important than the product or price. It’s simple. Better customer service equals better sales numbers. That’s why some of your goals must include some sort of devotion to the improvement of customer service.
Customers who feel appreciated are much more inclined to become LIFELONG customers. And get this. Studies conclude it’s more cost effective to keep current customers than get new ones.
Customer service involves meeting all needs of all customers. That’s why your company may want to have a live chat service on its website. This way, all questions and concerns can get taken care of fast. Of course, your salespeople should get trained on all aspects of customer service. They must be masters of conversation who treat prospects like they’re family.
Begin by figuring out which goals get the highest value of return. Then, ensure that your salespeople are meeting those goals first. But don’t stop there. Focus on the goals of each individual rep. Some need to get better at prospecting. Some need to get better at negotiation. Some need to get better at closing.
Here’s an example. Say you have a rep that’s struggling with prospecting. Make it a goal to have the rep increase his or her number of outreach calls by ten percent every week.
Your salespeople may not be able to reach every goal. But they need to reach the ones that matter most to your company’s bottomline.
Team and personal goals should always align with annual sales goals. Determine the monthly sales goal by evaluating the company’s annual revenue target. After the target gets defined, calculate how many sales need to get made to meet the goal. This goes for your department, teams, specific reps, etc.
Make sure you account for staff fluctuations. For example, say you’re onboarding five new reps next quarter. It’ll be extra difficult to meet your goals for that quarter. But don’t take the easy way out. Get your team to push hard and meet their goals for the current quarter.
Stretch goals don’t work for everyone. Struggling reps have no business taking part in stretch goals. These are only for high performing reps. For example, say you have a high-performing salesperson who’s knocking it out of the park. Give him or her a stretch goal. It could be around 125% of the other reps’ goals. Stretch goals always motivate high performers.
Without regular monitoring, goals mean nothing. The simplest way to keep track of progress is to use a CRM. You can also have your salespeople enter their data into weekly Excel spreadsheets.
Don’t hesitate to talk to a salesperson if you notice he or she isn’t meet their desired numbers. But don’t put it off. Talk to them fast before the problem gets worse. You don’t want your monthly quota destroyed because you postponed assisting a rep.
Of course, the main incentive for a rep to sell should be for him or her to keep their job. But you can also offer a variety of bonuses. For example, you can offer a $24 Starbucks gift card to the rep who exceeds the weekly goal by the most.
Don’t stress out if your company doesn’t have the funds to offer bonuses. Your bonuses don’t have to cost extra money. You could offer extra vacation time to the rep who exceeds certain goals by the most.
There’s no shame in bringing in a sales consultant who can offer help. A consultant will be able to determine what goals your team needs and how to reach them. Even the biggest corporations bring in outside help to provide a fresh perspective.
Don’t put off putting in place a series of sales goals. You’ll feel so much better when your reps have clear, defined objectives to meet. Not to mention, the reps will get motivated to please you and meet their individual goals. Next thing you know, your company will be bringing in more sales revenue than ever before.