Demystifying Sales Target

Today, we shall be discussing how to break down the sales target.

As we know, the sales profession is one of the easiest disciplines to appraise!- the numbers are clear!

A target is given to every salesperson for one reason- ACHIEVEMENT!

Salespeople fall into the temptation of immediately RUNNING with their numbers without proper planning.

Sales planning is required to unbundle the assigned target in order to understand what needs to be done, how what needs to be done should be done when the activities must be done and support required per activity.

Asking these sets of questions help to unbundle your target.

As an example, an enterprise salesperson has a quarterly target of N10,000,000.

What do I have to sell? List your product portfolio. Salespeople need to have clarity as to all available product/solutions available for sale.

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What is the average selling price of each of the product/solution? The knowledge of how much would accrue per sale on the average is key to knowing how to focus your sales effort and time.

What’s my target market(s)? Who are those my solutions MIGHT appeal to? With the understanding of my product/solutions, what type of needs of identified prospects will be met? The type of benefit that accrues to the prospect can help lead you to the prospect with an understanding of what type of needs they might have.

Where is my target market(s)? Once you understand the benefit that comes from your solution and the type of customers or industry that should benefit from it, you then need to know where these prospects can be found. 

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How can I find/gain access to my target market(s)? Some prospects can be reached via social media platforms like LinkedIn. Others require you to find them physically and make an attempt to know key decision-makers or those responsible for making a buying decision or user department in the organisation. You need to find them!

What is my conversion rate? i.e what percentage of engaged prospects are converted to sales? If you need to close five new deals, how many should you target? Your hit rate or conversion rate must be known on the average. It helps your pipeline management.

What is my proficiency level per product/solution? The more you know about a solution, the more you are willing to pitch and sell it. Knowledge helps confidence. Confidence is a key weapon in the battlefield of sales.

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What do I need to bridge my knowledge gap? Training, joint visit, certification, coaching etc. These are some of the ways to bridge your knowledge gap.

What other support do I need to close more sales? Identify other things that position you for faster sale closure and conversion 

The questions can be endless.

The more you can populate and answer these questions, the closer you are to getting very prepared for a positive sales outing for the period.

Sales is a consequence of the RIGHT Activities.

See you some other time.

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