Sales goal planning is a task that can seem both easy and hard at the same time.
But, it’s safe to say that the process is crucial for success – and following a structure will increase the likelihood of you hitting your goals!
Things to Consider when Sales Goal Planning
Before you actually go ahead and crank out your sales goals, you need to make sure that you're taking all necessary factors into consideration.
Look at past performance and gauge the current situation before planning your sales goals, as this activity will determine where you should start.
Regardless of who you are setting sales goals for (be it yourself or someone on your team), you need to consider the skill level and experience of the individual as well.
This will help you set actual SMART goals.
Being SMART about Sales Goal Planning
When setting goals, it's beneficial to work within a framework like SMART. The acronym breaks down as follows:
S – Specific
M – Measurable
A – Attainable
R – Relevant or Realistic (both apply!)
T – Time-Bound
When it comes to being specific, ensure that your goals are exactly that.
Don’t present a goal as an estimate (for example, “closed about 5 sales”), but rather pinpoint what it should be (i.e. “closed 5 sales”).
Also refrain from using a range (“closed 2-3 sales”) because that comes across as confusing!
Ensure your goals are measurable as well.
A clear-cut goal like “closed 5 sales” is measurable, while something along the lines of “accept responsibility for the behavior of the team” (or your own behavior for that matter) is not.
All goals you set need to be attainable as well.
Look at past performance and ask yourself, is it feasible to reach this goal?
If a sales team of 2 individuals was consistently able to close 3 sales per month, do you think an attainable goal for the same team with no changes would be to close 9 sales?
As far as the “R” in SMART goes, it can be either relevant or realistic. Both make sense and apply, however you cut it.
In terms of relevancy, the goal you plan needs to be relevant, and if you ask me, in line with the greater goals of the organization.
In addition, the goal should be realistic. Being realistic connects back to attainability.
Additionally, goals need to be time-bound.
Saying that your goal is to “close 5 sales” is one thing – but planning to “close 5 sales in the first quarter” is another thing altogether!
Making your sales goals time-bound will ensure that you're able to hold individuals accountable for their performance.
Lastly, in order to make your sales goal planning effective, look closely at all the goals that you set and ask yourself whether they're challenging.
Give yourself or your team a run for your (or their) money.
Be encouraged to step outside of your comfort zone and kick it up a notch!
If you plan your attack, and then attack your plan, you will be putting yourself in a position where your sales goal planning will have done exactly what it is supposed to do – help you succeed!
This free eBook includes checklists for both sales managers and salespeople that were designed to help manage your sales activities and goals!
Download it today!