If you (or someone else) performs the sales function in your business – according to a recent study, there’s a good chance you are not hitting your sales goals. In fact the study (which surveyed over 200,000 sales professionals) found that less than 40 per cent of salespeople hit their goals. For many business owners – who may wear multiple hats in their business (including the sales function) – I would guess the same is true. So why? None of us like to fail – yet when it comes to sales goals or targets – we often do.
But before we get into those mistakes to look out for, it is very important for a business owner to be in control of, and understand, their sales goals and ratios, from hitting X number of sales to making X number of calls. We need to break each step in the process down and know the numbers of each. If your goal is 4 sales per month and you work 4 weeks a month, your goal per week is 1 sale. If you know your conversion rate is 60% of all sales calls – you will need to attend 2 calls a week. If you know that only 70% of calls booked – result in you actually attending – you need to book 3. Sounds simple, but many Sales people/business owners forget what it takes to make a sale. There is no point in having a goal when you do not work the numbers (and have the budget to go with it). Once you know what these ratios are, it will reveal the areas you need to work on. Why? Because selling is a numbers game and if you are not currently hitting your sales numbers there are some very specific reasons as to why.
If this sounds like you – here are the top 19 reasons why you or your sales team are not hitting their goals .
- Not enough prospects/referral sources to target
- Below average telephone skills
- Below average closing skills (not asking for the sale)
- Below average time management skills
- Below average presentation skills
- Projects a poor image
- Lacks passion/interest in what they sell
- Poor communication skills (oral and written)
- Does not know how to differentiate themselves/their business in the marketplace
- Does not ask the right type of probing questions with a prospect/referral source
- Sells on price and not on value
- Does zero research on the company or industry prior to the appointment
- Does not know the value of what they sell
- Does not know their competition (you need to understand who are your direct and indirect competition)
- Looking only for the “quick sale” (not nurturing those who are not ready to buy right now)
- Accepts “No, we are not interested” on their initial call (therefore, they never call back)
- Is happy with their current income
- Not willing to change or accept suggestions to modify their current method for selling
- Insufficient reward or consequence to hitting or not hitting weekly goals.
Can you relate to what I have listed above? If so, help yourself become better at hitting your goals by addressing these issues. Doing so will make a big difference in your business.