Sales targets are like New Year’s resolutions. Everyone has them, but no one knows how to achieve them. This is why potentials are often not recognized, resources are completely misused, priorities are not met, and sales development is neglected.
The SMART formula provides a remedy:
S = specific
M = measurable
A = attainable
R = realistic
T = time-bound
- Sales targets must be formulated as specific as possible. Instead of “more sales,” specifically state “xx percent increase in sales through the expansion of business unit xy” or “the development of new markets in yy.”
- The definition of the sales target must be measurable. You need to know when the sales target has been reached.
- High possible sales targets motivate every employee at the staff level.
- Sales targets must be in line with the company’s desires and values. This creates motivation and the sales target gets a real chance of being achieved.
- The sales target becomes binding through a clear time specification.
The sales target is divided into sub-targets, provided with concrete actions and a time window which is specified.
A sales target can therefore be achieved if it is: clearly prioritized, the path to achieving is clearly defined and there is also a good time and controlling existing.
Focus on new customer acquisition
If a company focuses only on existing customers, it is not very future-oriented. Of course, existing customers provide the company with its current success. But expanding business with existing customers is only one option. Particularly when competition is high or the business environment changes – a certain amount of customer loss have to be expected. It is therefore essential for every company to deal with new customer acquisition in addition to existing customer care.
A planned and systematic approach is particularly required here: it requires fixed time and personnel resources for planning and implementing measures that can range from telephone acquisition to data-based marketing & social selling. Fact is: New customer acquisition isn’t an in-between topic that somehow runs along. Structured and reliable customer acquisition is worth it because no company can rely on being found automatically by a customer nowadays.
Using potential of sales staff
Every strong company needs employees who, on the one hand, have good soft skills and, on the other hand, have professional skills (methods, conversational skills, tools, etc.) that set them apart from the crowd. Personality and methodology make the difference in sales success. After all, it’s not just about the product or service itself, it`s more important HOW it is sold.
Opportunity Coaching also makes a valuable contribution to the development of your sales people. Their sales opportunities are analyzed in detail. This helps to find ways and solutions how to reach the sales target. This analysis shows whether it will be worthwhile to invest further in an opportunity. The company benefits from lower sales costs but more business. Resources are scarce, so they must be used optimally.
Regular training for sales staff
The more regular training courses for sales staff are, the more they can help to ensure the success of the company. Sales employees can operate successfully on the market if they have acquired new skills and knowledge on a sustained basis through further training. This includes training on new products or product changes as well as new sales strategies. Using different training formats (face-to-face and online learning) and standardized tools that enable sales employees to keep track of their own learning path at all times. Top performance, as in sports, is only achieved through regular training.
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