Running your business, do you only assign your reps with one sales target, like completing sales quota? If so, you haven’t done the right strategy. One strategy that can be done to achieve sales targets is to use sales software that can compile sales targets, optimize sales activities, and increase the productivity of your company’s sales team. In addition, giving your sales team specific targets per month or per week can be a good strategy so that they can sell more products. Smaller targets can build the confidence of your sales team and make them more focused.
This article will explain how to determine individual or team sales targets. These points may look like a burden for you, but the result will not disappoint you.
Table of Content:
Table of Content
Calculate Monthly Target Sales
Before setting a target per individual or per team, you must ensure that the target plan matches the annual target. After determining the annual target, calculate how many departments, teams, and sales people must be involved to meet these targets each month.
Apply the Sales Target Gradually
Budget for ramp-up time cost for employees if you are going to implement a new target. Let’s say, you have this target: your sales now send 50 emails per week and you want to increase to 100.
You can’t jump suddenly to the new target. Instead, do it slowly. Increase it by 60 this week, 70 the next week, and so on until your target is reached.
This is important because if the reps are unable to meet the new target, they will feel that they have failed and hence lose their motivation. With this strategy applied, they do not get burnout from the task given hence, they can perform in much better quality.
Sequence Sales Target
In other words, determine your priorities. Decide which target will bring you higher profits and prioritize it. But if you are going to set a target for junior sales, set targets that can help them improve.
Sequencing the sales target will be useful if it turns out the reps are not able to meet all the targets. At least, with the prioritized target has been put first, companies still can earn profits.
Change Sales Target Number to Activities Target
To determine what needs to be done in order to achieve the target, consider your employee’s track record through the sales system pipeline to see what they have done to reach the previous targets. In this way, you can change the sales target (which may be somewhat daunting) to metrics that can be organized.
Determine the Sales Incentives
What incentives do you give to the reps if they meet the sales quota? Bonuses and compensation are what keeps them motivated to do their best. However, what are the incentives for smaller targets?
Be attentive to what makes your sales excited. You can promise them a cash bonus or a fun weekend getaway. Do you have a limited incentives budget? No problem. You can give them a chance for networking or additional leave as a bonus.
Also read: How to Write a Successful Sales Report
Monitor the Sales Target Progress
The whole strategy will be in vain if it is not being monitored. You can keep track of your company progress through the dashboard in your sales system in real-time. If you find reps who do not meet the target, talk to them immediately before their monthly target gets disrupted.
Provide Training for the Reps
If your reps have prolonged difficulties in meeting their targets, do train them or give them a mentor. Then explain to them the framework that you want them to work with or you can ask them to think about that with their mentor.
To have somebody to share with is perhaps exactly what they need.
Related article: 5 Tips To Manage Sales Leads Effectively
Conclusion
Determining sales targets is important to determine the revenue your team wants to achieve. To do so, of course, requires good coordination between the sales team and managers, so managers need to compile sales targets wisely. Communicating sales targets and monitoring them should the team do so effectively and optimally as possible. So you can optimize your sales targets with HashMicro’s sales system integrated with CRM systems to make it easier for you to monitor sales activity thoroughly, manage lead data, get sales reports in real-time, and more. Thus, the company will be able to make maximum sales. Get a free demo now!
