As a business, it is important to set your main goal which is why you’ve likely set revenue targets for your sales team. This goal encourages your sales team to their best.
But what will you do if your sales team is consistently coming up short of your revenue targets?
Here’s how to make sure your sales team meet revenue targets.
Set Smarter Goals
From the beginning, you should set smarter goals to make it easier for your sales team to achieve results. How?
Consider setting short term goals like monthly and weekly targets, not just yearly revenue targets.
By doing smaller monthly and weekly goals, your sales team can build their confidence gradually and all of these smaller wins will lead your team closer to meeting the bigger goal at the end.
The goals that you should set should be achievable but at the same time challenging.
Setting unrealistic goals makes it harder for your sales team to reach it. But they shouldn’t be too easy, either.
The key is to push your sales team to do better while setting them up for success.
Invest in employee training
We should never stop learning and growing, even though your sales team has a lot of experience.
Investing in training and seminars can help your to improve and become even more skilled at what they do.
Invest in online courses and workshops or you can do the training yourself by training them in the field or by bringing in consultants.
It is also important to motivate your team. They may have all the knowledge in the world, but they wouldn’t meet the revenue goals if they aren’t motivated to do so.
Motivate your sales team in these simple ways:
- Recognize: Simple recognition for a job well done is enough to motivate many employees. So, celebrate the big and small wins of your sales team with the entire office. You can make certificates, medals, or give just a simple token of appreciation.
- Reward: You can also offer actual rewards. Rewards is one way of motivation. For instance, you could offer a cash bonus every goal achieved, a free lunch or even a trophy to the employee who closes the most deals in a month.
- Gamification: If you don’t want to give out rewards, try gamification instead. Make working more fun for your team by adding or building a game around meeting revenue goals. You can be creative and innovative just to encourage skills from your sales team.
Focus on lead generation
If you want to ensure your sales team meets revenue targets, you need to give them more to work with.
Your company should be focusing on lead generation to provide your sales team with more opportunities to make sales.
The more leads you can send to the sales team, the more leads they can turn into customers.
Even if your company doesn’t have a big marketing team, there are many easy ways you can generate sales leads.
A few of them include:
- Live chat
- Email newsletters
- Social media marketing
- Networking events
- Referrals from existing customers
When you put an emphasis on lead generation, your sales team can crush their revenue targets.
Use lead scoring
Not all generated leads will be ready to be bought.
So that your sales team wouldn’t waste time and effort focusing on leads that aren’t sales-ready, you should have a lead scoring. But what is lead scoring?
Lead scoring is the method used to rank prospects in order to identify their sales-readiness.
Each lead is given points based on attributes and behaviors that indicate a lead is ready to buy in the near future.
Typically, the higher point value a lead has, the readier they are to buy.
For example, a lead that has subscribed to your email list and registered for a webinar would have a higher lead score than someone who hasn’t done either of those actions. With lead scoring, your sales team will know exactly what leads to focus on, which helps them close more deals.
Create a follow-up plan
It gets really frustrating when leads don’t seem to be ready to buy.
Your sales team are exhausted and tired also from all the work, but that doesn’t mean they should abandon those leads altogether.
If you don’t have a follow-up plan most of the potential leads will fall through the cracks.
Having a follow-up plan will make some of the forgotten, cold leads into hot new ones.
So, create a follow-up schedule for your sales team.
One effective and easy way to follow-up with leads is through email marketing. Send leads an email series that provides them with the exact information they need to convert.
If you’re tired of coming short of your revenue targets, it’s time to do something about it. Just a few small changes can make all the difference. With these tips, your sales team won’t simply meet their revenue goals — they’ll blow past them.