How to Set up and Achieve Sales Target:
Meeting 100% of the sales target is probably hard nut to crack for the sales executive, however one could make it happen and achieve his targets comfortably by executing a few significant steps properly. Most of the sales representatives don’t know how to achieve sales target easily by planning certain steps and strategies.
Sales Targets are typically allotted to everyone by the company itself according to its future vision and aspirations. For some sale executives, their monthly target becomes like a burden though they will be able to accept it easily if followed these steps accordingly.
In this article, we will guide you step by step how to achieve sales target.
Step 1 Bifurcate You Monthly Target into weekly or daily targets:
The first step is to set up your total target into tiny daily targets. This will facilitate you to prepare mentally and psychologically. Due to this, your targets become achievable, tiny and possible if you think of it. Most sales executives become afraid of just listening to their huge sales target.
They become frustrated and demoralised and not able to even think of achieving their targets. Therefore, one should equally divide the whole target value into small values. For instance, if your monthly target is of 1.0 lac, you should bifurcate it into 4 tiny targets of value 25,000, obviously, the time period will also reduce. Now you have to calculate how many new leads do you need weekly so that you will be able to achieve your weekly target.
Step 2 Prepare Action plan accordingly:
The next step to prepare an action plan on a daily basis such as target potential customers, proper market survey, right products to the right customer and mode of approaching to the customers, generating new leads. This would prepare a blueprint for your sales target.
Conduct a survey to identify the new potential customers in your territory, ask with your colleagues, relatives and existing subscribers for new leads. This means you are going to expand your area of operations, hence there exits more probability of finding new potential customers.
Always try to improve your performance, approach, strategies and follow up as compared to the previous day or a couple of days. How aggressively you follow up and approach your new customers, matter a lot whether you will be able to achieve your target or not. Hence your enthusiasm, motivation, persistence, passion will play a vital role.
Step 3 Utilize Available Resources:
There are various resources which you can use to meet your daily objectives. Most of the companies provide customer relationships management programs to please and develop relationships with their customers. You can utilize this type of resources to build a strong relationship with your customers.
Once you made a good relation with the customer, he will surely contribute to your sale target some or the other way. If you are unable to convince your customer, call your boss and ask him to meet your customer together.
Some companies provide gifts and certain services to their clients, ask your superior to grab these opportunities into your territory because these resources are limited and your boss should have some other teammates as well. Therefore, always keep in touch and never hesitate to ask for any help.
Step 4 Evaluate Your Performance Regularly:
You job is not only to prepare the action plan or implement those strategies but at the same time, you’ll have to analyse your self-performance regularly. Write down your plan and actual achievements on the piece of paper, bring out the differences and again prepare an action plan to feed those gaps.
Once you’ve found out the gaps between planned objectives and actual results, next you will have to formulate different strategies and approach to fulfil these gaps within the limited time frame so that you’ll be able to achieve your goals on stipulated time period.
Step 5 Follow up your distributors or supplier to deliver the goods on time:
If you belong to those industries where you are responsible for selling the number of products, then supply chains or distributors network plays a vital role in achieving your sales target. Hence you have to continuously follow up regarding the availability of products in the market. If your leading products became short, your sales will surely affect a lot.
Therefore, the delivery of products on time shouldn’t be taken casually, a sales executive has to continuously monitor the distribution system on priority.
Step 6 Make a list of Prime Customers and Don’t hesitate while asking for Referral:
Your 80% of sales target is contributed by 20% of customers. Therefore always focus on your core customers and get in touch via mobile, email, personal meeting or whatever the best way to interact with them.
Build a strong relationship with your prime customers and ask them to enhance their contribution as well as request for referrals. Never hesitate while asking for referrals because once he is completely satisfied with your products why will they not refer to others.
Step 7 Focus on secondary sales rather than dumping stocks (Inventory):
You must focus on enhancing secondary sales rather than focusing on how to dump stocks on stockiest/ distributors. This is because if you dump stocks, maybe you could achieve your current monthly target but next month your sales are surely going to compromise.
Hence you should always plan your monthly sales based on secondary sales, that means your action plans should be regarding how to liquidate the existing inventory available on distributors, sub-distributors and retailers.
Make a list of customers who are at the verge of conversion and follow them twice or thrice in a week. Request them at least for a free trial of your products or services and don’t forget to ask for feedback regarding responses, pros and cons which they faced or felt.
Always promote those products or services which the customers actually need otherwise they could give negative feedback about your products and if happened so you won’t be able never to promote the same or other products or services. As the customers will make a pre assumption that none of the products from this particular company are useful and positive response.
Hope you have gone through the above step by step guide on how to set up and achieve your sales target. This guide will surely help you to meet your sales goal whether you belong to any kind of industry.
In a nutshell, your persistence, motivation, passion and approach towards your goal is going to play a vital role when it comes to any kinds of goals whether it is related to sales or any other objectives in your life. There are no magic rules which you apply and things are automatically done without any efforts.
Hence you should follow the above steps with dedication, passion and enthusiasm and you will be able to meet your goal definitely.
You may also be interested in the following articles.
How to Start Business | 10 Simple Steps7
Tips to Stay Motivated in Struggling Phase of Business
Importance of Planning in Management