Hitting your Targets,

Not even the best performer can hit their target unless they know where to aim.

In sales, most people are content with a soft goal such as “I want my sales to be better than last years.”  But ultimately, everyone wants their numbers to be better than last year’s, and that isn’t a specific enough target.  Doing ‘better’ does not allow you to build the plans to ensure that you grow your sales number or be certain that you succeed.

Know your number!

In order to reach your sales goals, you have to start with a real and specific number.  If you did $100,000 in sales last year, would you be satisfied with sales of $101,000?  It’s highly doubtful.  The lack of a truly specific goal and the plan to achieve it is exactly why many businesses and sales teams produce the same totals year in and year out.

They do not have clear and realistic goals, and they do not make real plans.  It is important to start by choosing a real revenue goal for 2020. Be specific.  Look to make a 15% increase over your previous sales year.  This will allow you to build a real plan.  But there is more.

More questions that you want to ask yourself will include, where did your revenue come from last year? How many customers/clients did it take for you to achieve your sales number?  Here is the formula using your actual numbers as you build your plan.

  1. Let’s assume that your $$ was generated by billing X number of clients over the course of the year. These two numbers will give you your next number, the average “spend” – when you divide your revenue by the number of customers.
  2. What’s your number? You will now have what you need to start deciding now we bridge the $$ gap between 2019 and 2020.
  3. Thus you need X number of customers. Maybe?

Existing Customers

Before pursuing new clients (something you will definitely need to accomplish as part of your plan), you will need to look at the customers you already have.

As we all know, it takes time to develop new clients. You have to market and gain their attention.  You might have to prospect and schedule appointments.  It takes time to work through the sales process, and you may have to negotiate contracts.  You do not have to do these things to sell more to your existing customers.  They already know, like and trust you.

Here are some key questions to keep in mind:

  1. Which of your customers also buy from your competitors?
  2. What will you need to do to capture a share of that spend that you have not yet captured?
  3. How do you earn the right to that business? You may find what X number of your total number of present customers will need to spend X number of dollars on average annually with you.
  4. How are you going to sell more to these clients?
  5. What contacts within your existing clientele do you need to meet with in order to increase your sales?
  6. What new value can you bring so you can capture the currently missing part of their spend?

New Acquisitions

This is where a good portion of your work will need to happen when planning.  You will still need to land X number of clients spending X number of dollars each.  This is where bad assumptions are made.  The easy math says you need to acquire a couple of customers per month to reach your goal however, this is only holds true only if those couple of new clients spend the whole amount of money with you in the month you acquire their business.  You will need one more number and that is …the dollar value of your average sale.

The way to ensure you achieve your 2020 sales goals is to build the action plan to acquire these new customers/clients.  The mix of activities will vary from one company to the next, and answering these questions will help you build your action plan.

How much will you need to spend on marketing?  Where will you advertise?  What percentage of your opportunities will you close?  How many opportunities do you need to create to win the number of new clients you need?  How many appointments do you need to set with prospective new clients to generate those opportunities?

By doing this math, it will allow you to plan your weeks and days so that you can take the necessary actions to achieving your goals.

The road is paved with good intentions.  However, having unclear goals will not be enough to ensure you achieve your numbers in 2020.  Start by setting specific goals and determining the actions necessary to reach that goal.

Now, with your plan in hand, you are ready to do the real work of executing and making your goals reality.

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