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Strategies to Meet Your Sales Goals

Writing sales goals is often more challenging than people anticipate. It is important to employ proven strategies to ensure that you will meet or even exceed your target. You can still offer input if your sales goals are assigned to you by a manager. This shows that you take your job seriously and you are always looking for ways to improve.

Break Down the Big Numbers into Something More Manageable

As with any long-term goal, it is important not to get overwhelmed by how much there is to accomplish and give up before you ever get started. If you write goals by the year, break your sales quotas down into months and weeks to make the numbers more manageable. Also, keep in mind that even the number for the annual goal will shrink as the year goes by.

Start with Your Existing Accounts

Your current customers already know what kind of products and services you deliver. However, that doesn't mean that you can't offer them something new. You may have new products or add-on services that your existing customers could really use. When you are establishing new quotas, plan for a realistic amount of growth from customers you already have. It can be a source of great encouragement to you when you subtract that total from your existing quota and see a smaller number.

Plan for Some Lost Revenue

While you can plan on some increased revenue from existing clients, you also need to accept the opposite. Some clients will stop buying from your company in the coming year and take their business elsewhere. If you sense this coming, focus on what you can do to better meet the customer's needs. You should deduct your projected losses from your sales goals just to be on the safe side. Hopefully, you can prevent the losses from happening and end up pleasantly surprised by your revenue total at the end of the year. Sales management experts advise people to add 20 percent to their revenue goal to leave room for unexpected losses and deals that fall through at the last minute.

Brainstorm Ways to Generate New Leads

Once you have considered your existing accounts and business you might lose during the year, it's time to plan how you are going to generate enough new business to meet your sales quotas. The next step is to create activity goals to help you meet or exceed expectations. You can do this by answering the following questions:

  • How many new customers do you need to reach in order to meet established revenue goals?
  • Based on your past percentage of closed sales, how many new leads will it take to get those new accounts?
  • What lead generation campaigns can you use to get the number of new accounts you need?

After determining the exact number of new leads you need, you must come up with several creative ways to reach them. The following possibilities can help you find new leads in areas you may have never considered:

  • Allot a certain amount of time every week to prospect for new customers. Don't allow anything to distract you from this goal unless it is an issue with your boss or an existing client that can't wait.
  • Expand your company's reach into new geographical areas, target demographics or even new industries. Have a brainstorming session where you remove all rules about the types of customers you can pursue as leads.
  • Always ask for referrals and have your business card available. A current customer who is pleased with your company's products and services most likely knows several other people who would be also. Don't be afraid to ask them for referrals at the end of each meeting. Also, keep a stack of business cards in your purse or wallet to hand out to people when the conversation naturally turns to business.
  • Generate excitement with your new leads by letting them know that you have increased your value proposition.
  • You should aim to have a constant visual presence on the Internet and print media. When new customers are ready to buy, they will remember your company's name and follow through with gathering information.

1st Commercial Credit provides financing to businesses of all industries. Meet your goals by utilizing one of our cash flow services.