The annual forecasting process is riveting, right? No. It’s laborious, frustrating – pulling teeth often sounds better. But it is an essential part of business planning. A Sales consultant has extensive experience in budgeting and forecasting.
The only drawback with forecasting is that when you try to communicate it to your sales reps they often do not know how to take a big annual target and convert it into “what can I do today to deliver my target?” language and often they get overwhelmed, paralysed and underperform. By the time you realise it, it can often be too late in the financial year to rectify. You may need the help of sales consultants.
So what should it contain? In very simple language a solid 90 Sales Plan should deliver 1 Quarter of your annual sales – repeated 4 times in the year and your sales person achieves their annual target.
It should contain the following elements:
– How many Prospects should I meet every week
– How many existing customers should I meet every week/month
– How much business should I be quoting every week
– How many quotes should I raise every week
– How much business should I close every week
Looks straight forward doesn’t it – so where does it fall down?
Most sales people don’t know how to prospect on a continuous basis. Without that element working it is very hard to meet any sales target. A lot of sales people get involved in non-sales activities like customer service, calling operations, technology not working when they are on the road, poor training/product knowledge.
As your sales consultant we would recommend you have everyone in your sales team put together a 90 Day Sales Plan. Have them explain it to you. Make sure the numbers stack up, e.g. if they need to meet 10 new prospects every week is that possible. If they need to close €50k of business every week how much pipeline do they need and is that number realistic? Measure, manage and feedback their performance weekly.
If you do these simple things then you will be well ahead of the game.