With the economic outlook looking positive many companies I am meeting are once again focusing on sales. The goal of increasing sales above your industry’s growth rate should be a primary goal of every aspiring high growth business
Here are four key factors and best practices to deliver sales growth this year:
1. Define your sales goals
Most managing directors insist on sales targets in numbers of clients and value, but few hold their sales team accountable for such measures as 1) Calls and live contacts per day, 2) Sales meetings per week and month, 3) Opportunities created in your CRM software per week and month, as well as, 4) Sales in value per month, quarter and year and other critical sales KPI’s. Put your sales goals in writing and review them with your sales team monthly. Consistently conduct weekly sales meetings and make your sales goals a healthy competition linked directly to sales compensation. By creating urgency and clearly communicating all of your sales goals, your sales productivity will increase and sales cycles will be reduced resulting in higher sales.
2. Effective Sales Compensation Plan
Incentivising your sales team properly with the right balance of base salary, commissions and bonuses to create added urgency is key to creating an ambitious, productive sales team. Provide the right training, leadership, recognition for achieving sales goals combined with the right sales compensation plan, and your sales will multiply.
3. Recruit Closers
Recruiting the right sales team who are hunters, self-motivated, hungry, trainable, professional and most of all closers is critical to your company’s success. You will meet your sales goals with a strong sales strategy and sales team that is focused on closing sales verses hoping the opportunities will close themselves.
4. Get Involved to Generate Results
Motivating your sales team is essential. Leadership is a powerful motivator. Get involved by attending initial sales meetings and pitches with each of your sales team this quarter. Sales management and leadership instills loyalty and hard work, and ensures that your sales team is running optimally to achieve your goals.