8 Tips for Setting Smart Effective Sales GoalsPublished on July 11, 2018
Setting sales goals is never an easy-peasy process because of a number of vagaries that exist all around us. By setting sales goals, we insulate ourselves from all the negative energy and use what’s left to focus on providing solutions. Goals have the ability to shape our dreams and ambitions. As a salesperson, you can effectively hone your skills to ensure that you’re able to continuously meet your sales goals.
Avid believers in goal setting might argue that achieving the sales goals is not the most important section of the equation. At times, the process may be just as exhilarating as the attainment of the goal. Whatever one’s beliefs are, we can all agree that goal setting helps enhance our personalities whilst boosting the ROI. We’ve listed out a couple of great pointers that can help you navigate towards a better tomorrow where all your sales goals are met. Read on!
1. Conceptualizing realistic targets
As a salesperson, you can be your very own worst enemy, even without intending to. The goal setting process can be an arduous task to undertake. You need to strike a balance between challenging yet achievable objectives. The targets need to fall somewhere between your comfort zone and overkill. A little less or more would not be helpful to your ambitions.
Some experts suggest trying out the 70% rule when it comes to conceptualizing sales goals. This particular rule suggests that you should only set goals that you are certain of hitting at least 70% of the time. Else, such goals would be too risky to try out. At the same time, setting goals that you can meet in 90% of circumstances means that you are not willing to go for the jugular.
2. Manage Sales Quota Timeframes
When thinking about how to sales goals setting, an ideal scenario is where you break down your sales targets in bits. You should first start off with an annual revenue goal before proceeding to develop quarterly and then monthly targets. If you’re in charge of your sales team, it would make absolute sense for you to have periodic timeframes on a daily basis.
By implementing frequent sales quotas, you can help push your fellow associates to their limits whilst providing them with enough motivation. The Harvard Business Review recently quipped that daily quotas help ensure that salespersons are not able to fall into the trap of being lackadaisical when handling monthly quotas.
This particular habit has been noted to happen most among individuals who start off the month with bad projections. As the month progresses, such individuals are less likely to commit to improving their numbers after realizing that they won’t meet laid down targets.
3. Knowledge is Power
As a salesperson, you should be super sharp about the products and services that your company offers. It is through the understanding of what the company represents that you can motivate yourself on an individual level and get to setting sales goals. As a cog in the big wheel of events, you begin to realize that your input is important to guarantee the success of the whole.
The FAB (features, advantages, and benefits) formula is one that has been put to good use by a number of salespeople. The three qualities represent unique takes on various products and services dispensed. Through the technique, you can be able to gain full comprehension of various products.
4. Traffic Generation
At times, setting goals is not a means to an end. While being focused on dreams and possibilities can help you achieve laser-sharp focus, you need to sell your services to customers. If you’re running a store or online website to get sales, you should focus on ensuring that you have adequate traffic. You can do this by improving the overall look of the store and/or website to be more attractive to potential clients. Holding events and promoting content through ads and promotions can help you get your project out there in the open.
5. Constantly Contemplate
The dream of the sales goal setting should not be where it all ends. Instead, you should actively seek to remind yourself about the targets you’ve set. That way, you will be able to live in a semi-woke state of objectivity. To do this, you can decide to spend a couple of minutes every day talking about your goals and the firm’s ambitions going forward. In doing so, you can hold yourself accountable and remain motivated to undertake various ventures.
6. Visual Aids
As Napoleon Hill famously quipped, “Whatever the mind can conceive and believe, the mind can achieve.” Occasionally, you may find yourself unable to live up to the grand dream of your objectives. Success can at times be a never-ending rabbit hole whose definition keeps changing.
To ensure that you always remember the why and how you set up sales goals in the first place, you should try incorporating a number of visual aids around the work environment. If you handle a POS system, you can add a small section on there to constantly remind yourself to keep on track. If you work on a desk, you can jot down your sales goals. You can alternatively opt to have a picture representing what you would do once you’re able to succeed.
If you’re the top sales honcho at your company, you should make utility of the gaming concept at the workplace. Holding regular contests while at work can have a positive ricochet effect on everyone’s output and efficiency. Ray Riley, the CEO of People in Progress Global is a firm believer that gamification can have a positive impact on your work ethic. Not just on an individual level, but the company as a whole.
Success is first attained on a mental sense of being. It’s no coincidence that most positive people always seem to be jolly and tend to get more things done. As a salesperson, you should have firm belief that things will eventually pan out in your favor. That way, you will remain steadfast in your sales goals objectives without losing the faith. Positivity is the single most important attribute everyone needs to have to ensure that they are able to meet their targets.