Everyone wants to increase sales and grow their business, but it’s not easy to know the best way to set the goals that will support that success. Don’t worry; we’ve put together plenty of helpful examples of sales goals that any small business can use.
Whether you’re selling handmade jewelry or large machinery, you’ll find great ideas for setting achievable objectives and scaling your business.
So make sure to check out our list of setting sales goals you can set on a day, week, and monthly basis: get motivated and bring in more revenue today!
1. Increase Your Revenue
Increase revenue from current customers by providing incentives such as discounts or special offers. These incentives will help motivate customers to buy more products or spend more money on your products and services. This encourages businesses to focus on creating relationships with customers that will last and bring in repeat business.
2. Improve Market Share
Focus on improving market share is key to a business’s success. This requires businesses to consider their current market share and look ahead to what they would like to achieve.
A business could set a goal to increase its market share by a certain percentage each quarter or year. This encourages the business to focus on certain aspects of marketing, such as improving customer service or increasing its online presence to reach its desired market share.
Businesses can also use their current market share as a benchmark to set aspirational goals. This could involve setting reachable goals for obtaining a certain percentage of the overall market.
3. Increase Qualified Leads
Aim to double the number of qualified leads created from the current quarter by the end of the next quarter. Businesses can use sales software and tools to help attain this goal. For reference, you can check this software. This goal should include the use of or improvement of successful lead-generation strategies, such as content marketing, search engine optimization, and email campaigns.
4. Improve Customer Retention
Improving customer retention goals can be straightforward and achievable. A goal such as “increase customer retention rate by 2% within three months” can measurably measure success.
You can also use customer feedback, especially by analyzing reviews or surveys, to identify areas that need improvement. Utilizing incentives such as discounts or rewards to encourage customers to come back can be an effective way to improve customer retention.
5. Increase Cold Calls
A business may aim to increase its monthly call volume by 10%, meaning they need to make 10% more cold calls than the previous month. They can also set a goal to make 5 cold calls each weekday, to gain 2 new customers by the end of the month. Weekly and daily goals can be made to further push sales teams and ensure they are reaching their monthly goals.
6. Lower Customer Acquisition Cost
By setting and achieving lower customer acquisition costs, a business can experience greater revenue and profits in the long term. This can be achieved through a variety of tactics, such as increasing their customer base through referrals and improving the efficiency of their sales and marketing teams. Furthermore, by utilizing modern digital technologies such as automation and artificial intelligence to more accurately target and convert prospects.
7. Lessen Sales Cycle Time
This means decreasing the amount of time it takes from the initial contact to the closing of a sale. The more quickly this is accomplished, the more potential sales are available, and the increased efficiency leads to increased profits.
8. Schedule More Demos
Make sure to increase the number of demos booked in a given month. This can help potential customers get to know more about your product before they make an informed buying decision. It also builds trust and helps garner interest in the product.
To achieve this goal, businesses can produce a consistent social media presence and release informative content about the product. Businesses can also engage in eager customer communication, host webinars, and utilize research-based case studies to show the efficiencies of the product.
One could look into providing incentives to encourage more customers to sign up for demos. Having a targeted number of met goals per month can help keep everyone on the same page and working together to reach the goal.
9. Reduce Customer Churn
This focuses on repairing customer relationships with prompt customer service. Successful businesses will also have goals in place surrounding the investigation and resolution of customer complaints.
Improving customer service responsiveness and providing personalized sales experiences to build customer trust. By setting these goals, businesses can take steps toward reducing customer churn and increasing customer loyalty.
10. Tracking Sales Time per Week
Tracking sales time per week is an effective way to measure progress and stay on track toward reaching your goals. Small business owners should set realistic and achievable weekly goals for their sales team to strive for. If the sales team has a few members, base goals on the number of hours, each person should work to reach a realistic target.
If it isn’t possible to set a common goal that applies to all team members due to the diverse nature of their roles, set individual goals based on each team member. A business can also set sales goals based on the number of calls or meetings made per week and track how long each took to complete, as well as how many were successful.
Start Setting Sales Goals To Grow Your Business
Setting sales goals is essential for any business to grow. Start by determining your goals, breaking them into actionable tasks, monitoring progress, and adjusting your strategies as needed. This can be achieved through a variety of tactics, such as increasing their customer base through referrals, improving the efficiency of their sales and marketing teams, and setting and achieving sales OKRs .
With well-crafted business goals, you can propel your business to success. Take action today – set up your sales goals, so you can achieve your long-term business objectives.
Find this article helpful. If you do, make sure to take a look at some of our other posts for more business-related guides and tips.