Salespeople are measured on how well they attain their sales quota. Sales target is set for a specific period and it is either measured in revenues or in the number of products or services sold. Sales professionals are under constant pressure to hit their quota and to perform at their best. So, it is crucial for sales managers to set realistic goals for their reps and provide them with enough guidance to achieve the same.
According to the TAS Group, 67% of all sales people miss their quota. And 23% of companies surveyed don’t know if their teams achieve sales quota or not.
Despite the above mentioned fact, meeting your sales quota doesn’t have to be an intimidating task. In fact, follow the 7 key strategies mentioned below to reach your numbers at the end of every month, quarter or year.
Properly Qualify Leads from Pipeline
It is very important to focus on the right opportunities. Eliminate the leads from your pipeline that won’t close in reality. You can do this by asking certain lead qualification questions to your prospects. If they don’t qualify, leave them. Try to figure out the real opportunities and stop wasting your precious time on unqualified leads. Good sales performers concentrate on valuable and potential prospects by trimming down their pipeline to a more realistic one.
Learn as Much as Possible
Keep developing your professional skills on a daily basis. Identify the competencies that are holding your performance back, by evaluating yourself. After discovering your areas of improvement, spend some time daily on skilling them up. Have an in depth knowledge about the product or service you sell by spending quality time with the product manager. Make it a routine habit to read the latest industry news and developments as well as about your prospects.
Find yourself a Mentor
Think of an office colleague who is constantly crushing his sales targets and is someone you trust. Talk to him, listen to his client calls, demonstrations and proposal reviews. Learn his skills and try to inspect what he is doing to excel. This will be a great learning opportunity to help attain your sales quota.
Establish Strong Relationships with Existing Key Accounts
In most businesses, between 75% and 80% of the revenue comes from only 25% of the customers they do business with. And it’s very likely true for your own book of business. Get closer to your key accounts and set a goal to renew their need on a quarterly basis. May be they have new needs that require new solutions. This can provide you with excellent opportunity to pitch new solution and sell it as you are already in good terms with the decision makers. This is a very superb strategy to make your sales quota because it is easier to make money by establishing strong relationships with existing customers rather than chasing new customers.
Follow up Intelligently
Following up with prospects within a few days after the initial sales call is critical to sales conversion. Studies show that there are optimum time of the day and day of the week when the sales leads should be contacted. Follow up with customers in a proper time to gain optimum response and increase your chances of conversion.
Don’t Pitch your Product
Instead of convincing your prospect to buy your product because it has the best features in the market, tell them how your product can solve their problems profitably. Describe the unique capabilities of your product that can orchestrate the needs of the customer. Stop pitching and make your product look bigger by putting on genuine expertise.
Be an Expert in Listening
This is perhaps the most neglected characteristic of a successful sales professional. The ability to listen to the customer properly and clearly understand their needs is pivotal to selling, no matter how much product or industry knowledge you have or how good your product is. Those who possess an art of listening tend to be better at selling than those who try to dominate the discussions every time.