Sales goals and their objectives are critical because they instill a culture of accountability and achievement across the team, which drives productivity. This feeds directly into revenue growth which is what we all want.
Sales goals and their underlying objectives are used by management to help outline how these goals align directly with the overall company initiatives. If positioned correctly, the sales team will be able to see a direct link between the activity they do and its effect on the bottom line.
The structuring of these goals should take the SMART approach. It is a tested system standing for Specific, Measurable, Achievable, Realistic and Time-Bound. Using this framework, a business (and an individual) can start to structure their day with these goals in mind.
If one starts with a goal, this can then be broken down into objectives in order to hit that goal. One step further than this is to outline the daily, tactical activities that will hit these objectives which in turn will achieve these goals. A framework we use at Sales for Startups is called the G.O.A. framework:
To build upon this idea, one can group one’s goals often into three different categories:
- Activity Goals
- Annual Goals
- Team Goals
Clearly, Activity Goals are those that one can directly influence, but the biggest and best goals can only be achieved if the whole team works together and works in the same timescale. A good way of considering this would be to start with the Annual Goals, and then break it down into quarters, asking yourself questions of what strategies can I employ to hit these objectives? What resources will I need and what outside influences should I be aware of that may be able to help me?
Sales goals differ from company to company and from person to person. What I have outlined below are those goals which are good, but then their revision to make them more specific and therefore more achievable;
- ‘Reduce sales cycle’ revised to ‘Reduce sales cycle by 7 days in the next quarter‘
- ‘Increase conversations’ revised to ‘Increase the number of discovery calls per week from 2 to 4‘
- ‘Increase leads’ revised to ‘Increase lead acquisitions by 5% across all social channels for next quarter‘
- ‘Upsell to current customers’ revised to ‘In the next 6 months, upsell to at least 50% of current customers‘
- ‘Make more revenue’ revised to ‘Bring in 5% more revenue each month considering both increasing the average customer value (ACV) or obtaining more customers‘