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Tuesday, September 30, 2014

sales target ?



Step 1: Sales Goals and Targets
Setting your annual sales goals and revenue targets
Prioritize challenges that could keep you from hitting your targets and create a defensive strategy for each
Define changes and investments that must be made to achieve success
1.  Setting Sales Goals and Revenue Targets
Although goals and targets are often used synonymously, they are in fact quite different.    Compare their definitions*
Goals: Destinations or where we want the business to be and feel, for example:
-      Relationships
-      Reputation
-      Image
-      Sustainability
-      Culture
Targets: Specific results we want the business to achieve, progress markers to attaining goals; for example:
-      Revenue
-      Profit
-      Market share
-      Recognition
An example of how Goals and Targets work together in this opening section of your sales plan could look like this.
Goal: Establish two new relationships per quarter in the US Financial and Accounting Outsourcing practice.  The targeted annual contract value of each new relationship is $2 million.
2. Prioritizing Challenges and Creating Defensive Strategies
Consider your last couple sales years and think about those things that kept you from achieving all your sales targets.  Be as specific as possible while keeping it functionally focused – not personal.   For example: Need more qualified output from marketing’s lead generation programs (instead of actually naming the VP of Marketing as the problem).
Here’s a simple but effective template for listing out challenges, their impact and priority, and assigning responsibility to minimizing them.

3.  Defining Changes and Investments Needed to Achieve Success
You are likely in the same boat as most sales leaders heading into a new year: You’re getting a quota increase. In the old days we might grumble a little, play around with territories and headcount then tell the CEO we need another seven incremental sales reps to meet the new number.  Your best expectation would have been for one or two of the seven to make quota.  The others become permanent “C” players or simply fail miserably.
More Effective Approaches to Investing in Sales Success
Yes, headcount is still a critical success factor for a sales team expected to make its number.   However, studies of best-in-class sales teams clearly demonstrate many other vital approaches to improving effectiveness and revenue that simply make your existing A, B and even C performers better.   (Fire the D’s, but that’s already in your plan, right?).
Here are five areas of your sales model that will benefit big time from focus and investment.   They are proven to create permanent increases in both win-rates and quota attainment for B2B sales teams.
Establishing a formalized sales process, including targeted account planning
Sales manager effectiveness training and industry-specific rep training
Lead segmentation and a marketing automation system
Sales leaders dashboard
Sales intelligence, prospect profiling and industry monitoring