Setting Sales Goals That Lead To SMASHED Sales Targets | Salesman Podcast

Here you are—another year gone by. And you almost, aaaaaalmost hit your sales goal this time! Just like last year. And the year before that. And the year before that… But this year is going to be different. Maybe it’s the world rapidly changing around you. Or maybe it’s you getting another year older. But this year, it’s time to get serious about setting sales goals and adapting your sales process. And I’ve got just the framework to help. In just eight steps, you can map out where you want to be next year, strategize the steps you need to take to get there, narrow down which goals are a good fit, and more. Ready to go? Let’s hit it. Setting Sales Goals: Why It Works Why should you be setting your own sales goals? And just as importantly, why should you start setting your goals strategically so that you don’t give up on them four months into the year? As it turns out, setting sales goals is one of the easiest low-investment, high-return wins sales reps can make. Here’s why setting your own sales targets is such a game-changer. A) A Clear Path to Success First and foremost, setting sales goals gives you a clear, indisputable path towards achieving massive professional success. We can all agree that if you don’t know where you’re heading, it’s going to be a real pain to get there. And setting well-defined goals lets you plan out your path to success milestone by milestone. What’s more, when you continually improve upon those goals (e.g., “I’m going to close 5% more deals than last year”), you’re creating the impetus you need to keep moving forward. And that means less career stagnation and consistent forward progression. Having a clear path to success is also valuable for sales managers and sales teams too. When you can effectively communicate your sales cycle and where the sales revenue is going to come from, management will get off your back and allow you to get on with your job. B) It Lets You Plan Ahead Setting sales metrics (that are reasonable, mind you) also gives you a better indication of what lies ahead. If, say, you need to close on 12 accounts this quarter, that means you need to aim for four accounts per month. If you’ve only closed two in the first month, that means you’ll have to work extra hard to close five in the other two months. Setting annual sales goals based on numbers rather than more a subjective sales goal like “improving customer lifetime value” enables you to directly track progress too. Added to that, your goals also help identify your busy seasons, your lulls, and when you should focus on other goals like filling your pipeline, streamlining your processes, or even taking a vacation. C) Feel More Fulfilled at Work Last (but certainly not least), setting and achieving your sales objectives boosts your confidence, teaches you self-management, and increases your proficiency on the job. All these perks allow for faster upward mobility which often leads to greater satisfaction. Don’t forget—achieving sales goals is often directly connected to bonuses and raises. And as we all know, compensation has a huge effect on overall job satisfaction. The Setting Sales Goals Framework Now that we’re agreed on why setting sales goals is so important, let’s jump into the how of it all. How do you set sales objectives? Is there a sales goals template you can use? What do I need to do to set me up for success this year? I developed The Setting Sales Goals Framework to answer these questions (and more). With this framework, you can evaluate your priorities, identify areas of improvement, establish impactful goals, and set yourself up for your best year yet. Plus,