How to Set Sales Goals for Yourself and Your Team

Managing a successful sales team involves consistent communication, teamwork, and clear expectations – this starts with knowing how to set sales goals. It’s important for you and your team members to be on the same page when it comes to setting sales goals and utilizing effective strategies to achieve them.

Setting sales goals requires a wholistic approach that takes into consideration past data to define objectives. Setting a “goal” might feel abstract, so breaking down your process into disparate steps will help you on your way to success. Here are our tips on how to set realistic sales goals for yourself and your team.

#1 Use the SMART Strategy

SMART is an acronym designed to help you define successful goals.

SMART stands for:

Specific: be clear about the goals you set and try to be detailed-oriented with your outline.

Measurable: use tools like deadlines, growth charts, and conversion rates to help you measure short and long-term success.

Achievable: while it’s important to dream big, setting unrealistic goals will only diminish morale. Make sure your goals are achievable.

Realistic: utilize your previous data, future projections, and timelines to define realistic sales goals.

Time-Based: define a timeframe in which to achieve your goals so you have a clear end-date to work towards.

#2 Calculate Monthly Goals

Although long-term sales goals provide important incentives for future growth, it’s hard to orient day-to-day sales towards an annual goal. This is why setting monthly sales goals can help your employees scale their efforts to fit a more achievable time-frame.

To calculate your monthly sales goal, start with an annual goal and work backwards. This way, you’ll have a pretty concrete idea of your monthly sales requirements in relation to your annual revenue. Take into consideration variables like seasonal fluctuations and employee retention to calculate your goals each month.

#3 Define Realistic Goals

Realistic sales goals look different for every business. If you notice that your employees are consistently missing the mark on their sales goals each month, you might need to reassess your target numbers. According to the Harvard Business Review, “When 10%–20% of salespeople miss goals, the problem might be the salespeople. But when most salespeople miss, the problem is their goals.”

Realistic goals hinge on past data. Look at your past growth rates, and compare those to your current goals. You can also take into consideration industry-wide trends to map-out future projections for your sales, but keep in mind that your company is unique, and don’t place too much weight on your competitors.

#4 Educate Your Sales Team

Education is a lifelong pursuit. Keeping your sales team up-to-date on the latest trends and sales strategies will help you maintain a competitive edge in the industry.

Coaching

One-on-one or group coaching is a fantastic way to impart feedback to sales employees. Spend time reviewing their strengths and discuss areas that could use growth. Make the feedback sessions collaborative, encourage questions, and offer employees a chance to practice skills before making important calls.

Product Knowledge
Employees need to be highly knowledgeable about the product they are trying to sell. Use live demos, webinars, and informative literature to update employees on new product features. Offer employees resources to share with clients to illustrate your product and its benefits.

#5 Incentivize Sales

Achieving a goal is much more appealing when there’s a reward at the end of the process. Utilizing sales incentives will energize employees and foster a sense of enthusiasm and friendly competition when striving towards a goal. Remember, incentivizing goals should not contribute to a cutthroat environment. Vary the prizes so it’s not always about money, and make sure to reward other aspects of the sales cycle, such as retention or cold calls, instead of solely focusing on sales numbers.

Reaching Your Sales Goals with Acquirent

Working with an outsourced lead generation and sales development service is a fantastic way to reach your sales goals and empower your team. At Acquirent, we offer personalized lead generation, sales team management and recruiting services designed to help your business succeed. Our team of sales professionals are committed to developing a sales strategy that fits your company’s goals. Whether you decide to fully outsource your sales efforts or incorporate Acquirent into your in-house team, Acquirent’s team will adapt to fit your specific needs. Interested in achieving your sales goals? Contact us today to get started.

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