Sales value is a direct reflection of your company. A practical goal setting is significant for a company to succeed. The reason is simple – if you have a set goal in your mind and know exactly what you want to achieve, then you can focus all your efforts on finding the most efficient route to achieve that said goal.
Before moving forward towards your target, it is crucial to know where you are standing now. Along with gaining focus, your company should be motivated enough to work towards the goal. This article talks about seven highly essential tips that can help you achieve your sales goal.
Helpful tips to beating your sales goals
Achieving your goals is not an easy task. Most of the time, companies lack what it takes to meet those targets. The following are some of the tips that can help you in achieving this year’s sales goals.
1. Customer knowledge
Top performing businesses reveal that their sales team has expert customer knowledge, and their sales process is customer-centric and flexible enough to incorporate various buyers and their wishes. Customer feedback is an excellent opportunity to increase sales and long term loyalty. Many brands like Netflix, Starbucks, and Amazon have reaped excellent results by centring their business on their customers.
Customer knowledge should be used to understand the needs of customers better and then optimize business processes to meet their needs and increase overall sales. Your sales and business growth depend upon customer satisfaction, so it is essential to have a sales team equipped with ways to engage customers and make them feel important.
A more practical approach is to look for sales training Dubai based courses that will enable your staff to build their interaction with clients so that clients walk away from a purchase feeling understood. Training helps in building communication skills among salespeople. Communication skills are essential as it ensures that customers understand the services offered.
2. Focus on value
Your sales strategy should focus on value, not only profits. The foremost thing in sales is to provide a superior service to the customers. Top performing companies focus their sales strategy on driving maximum value for their customers. With a high focus on the value, you are more likely to grow and have lower undesired sales turnover.
3. Discount less
From a marketing and sales perspective, discounting makes sense, especially if your business is not doing well. By giving high discounts, you get to attract new customers, encouraging them to buy your products. It may seem like a brilliant strategy, but it can hurt your business in the long run.
When you offer high discount rates like 50 percent, it shows that you don’t believe that you can sell your products at a standard price. As soon as you lower your price, there is no going back as your customers expect to see the same thing next time and will wait for the next big sale. Hence, it is terrible for business. With a considerable discount rate at 50 percent, you will have to sell twice as much to reach your revenue target.
4. Maximize sales with existing accounts
Your salesperson should be well equipped so they can discover additional areas of growth opportunities in their accounts to sell the full capabilities of the organization. To fully utilize your accounts, analyse to improve additional areas of value, a company can offer their accounts.
To increase sales, account management should be a top priority. Therefore, it is essential to develop strategic account management and sales skill among the employees.
5. Set challenging goals and targets
Working towards a goal is something that we all do at a personal level as human beings. Effective goal setting is vital to develop and achieve targeted revenues. To outperform in the industry, set higher sales goals and work to achieve them. If you set more challenging goals, you might not hit your target, but it will help you achieve better results overall.
Once you have evaluated your needs and areas of improvement, set goals by using the ‘SMART’ rule:
S – Specific: clear goals are easier to achieve.
M – Measurable: measurable goals and progress.
A – Attainable: make sure your goals are possible to achieve in case of materials, personnel, and process.
R – Realistic: your goals must be realistic. If you have big goals, then break them into different phases, so they are easier to realize.
T – Timely: set a specific time frame for each goal.
6. Sales Strategy review
Once per week, make sure to review your goals with your business partners, mentors, friends, or any person you explicitly work within the business. It ensures that you stay on top of your set goals, stay committed, and keep pushing yourself forward. Along with goals, discuss any potholes that may be holding your business back so that you can fight your way through those hurdles.
Businesses often suffer from low sales because they keep using those old, redundant strategies. Once per month, take some time to review new strategies to grow your business. Come up with new ideas and marketing strategies to capture the consumer market and increase sales value.
7. Invest in sales training
In todays’ competitive business environment, it is crucial to have an advantage over the competition. One of the most useful tools that a company can have is a reliable and competitive sales team to ensure that the business always stays one step ahead. A trained sales team helps in the generation of new opportunities, which leads to huge returns for the company.
Employees training is very beneficial for organization’s talent development, and it seems that many companies are well aware of its importance. ADT recent research shows that in 2019, organizations spent an average of 2,326 US dollars per salesperson on sales training annually. So invest in getting your sales team trained by a good corporate training company in Dubai to help meet your sales goals effectively.
Become a top-performing sales organization
To increase retention and effectiveness, companies should offer additional training programs at times of need, allowing them opportunities to practice their skills. Set a target for yourself and your company and see if you have an answer to the question: “Does my company has the desire to achieve this goal?” If your answer is yes, then get started.