Being great at sales and hitting big numbers is not a mystery. There are very specific things that go into being great at sales and one of them is simply increasing the sales quota. It’s similar to when Roger Bannister broke the 4 minute mile back in 1954. It had never been done so no one even tried. It was just ridiculous. Then Roger broke record and set the new standard. By the way, the current record is 3:43 seconds.
The point here is that if you never reset the bar, people won’t even try to get better. By resetting the bar you improve everyone. The thing you must consider is that if you are going to reset the bar, your team will likely need more training and help from you to achieve the new standard.
Here are 8 things you can do to help your team reach full potential:
1. Double the quota – Doubling the quota is strategy number one. It might freak some people out, but that’s good at this stage. Get their input and brainstorm how they think they can achieve this.
2. Increase it annually – Don’t stop at just one increase. Raise it annually. It may not double each year, but it should increase by at least some percentage.
3. Decrease commission over time – Don’t let your sales people get lazy by building a client base that hits their numbers. Decrease the commission over a reasonable period of time or create two buckets of numbers. One for repeat business and one for new business.
4. Improve their time management – In order to do more, your people have to get better at managing their time. Sign them up for a time management course or conduct a book study on the subject.
5. Improve their prospecting skills – Show your team how to target ideal prospects and how to get to the decision maker. Ultimately, they have to increase their leads.
6. Increase conversion rate skills – Measure and train on conversion strategies. Invest 50% of your training in this area. If there’s a silver bullet strategy in sales, this is it! Teach your team how to follow up and never give up on a sale if there is even a glimmer of hope.
7. Increase average dollar sale – A fast way to improve sales numbers is to up sell, cross sell, and add on sale. Make sure your team understands all your products and services and how to add them to an order.
8. Increase referrals – Many businesses NEVER ask for referrals. You can’t sit back and hope for referrals. Do a 180 with this and get ACTIVE about asking your clients for referrals.
Lastly, understand that FEAR of the unknown is mostly likely the biggest stumbling block between you and increasing your quotas. Understand that if you position it right and provide the right tools for your team, they will see it for the positive it really is.