I would say that Sales is a science.
If you do things in a planned and systematic way, you are guaranteed of the Same results anywhere you are on the planet.
I am a Sales representative in a Company, I have clearly defined targets to
- Increase Market Share of my products from 10% to 30%.
- I have to achieve Sales volumes of 1,000 units a week.
- Daily Sales Calls of 25 retailers a day.
For those of us not in Sales
- Market Share :A percentage of total sales volume in a market captured by a brand, product, or company.Read more: http://www.businessdictionary.com/definition/market-share.html
2. Numeric and Weighted Distribution: This is simplified to say how many of your products are on the Shelves , so the more products on the Shelf, the more popular your brand, the more people see your brand to buy, the more volumes etc.
- Increase Market share from X% to Y%
Steps to follow
- Innovation: Creativity is always a classic winner. As Sales representatives/Managers we tend to be laid back, we believe that it is not our job to be creative. Absolutely Wrong!!!!. Thinking out of the box in a different variations will give you different results. Remember Einstein’s Quote “It is insanity doing things the same way and expecting different results.
- Strengthen on the Positive: Of course some things are working, it maybe strong customers/distributors/wholesalers/retailers, the territory may be densely populated, Competition may not be so strong, your Company may have superior delivery or trade terms, whatever it is “strengthen the positive.”
- Facing the facts and put everything into Alignment (ADAPTABILITY): Adaptation is an essential skill for any Living Organism, Sales and Businesses are living organisms. Do not be afraid to talk up or correct errors when they occur. Increasing the Market is similar to growing a garden, you have to weed, trim the shrubs, and water the garden regularly.
The next KPI
2. I have to achieve Sales volumes of 1,000 units a week.
In every Business or Sales territory, we have to determine “What minimum quantity does everyone has to sell make us profitable?” so 1,000 units a week was assigned to my territory.
How do I Achieve this?
- Leading Indicators: A leading indicator is a measurable factor that changes before the Sales starts to follow a particular pattern or trend. Leading indicators are used to predict changes in the economy, but they are not always accurate. Examples of leading indicators are daily Sales calls, average purchase by retailer or consumer. So let’s paint a picture, you visit an average of 10 retailers a day and achieve 100 units, Leading indicator says if you increase your output 10 times more you would get the 1,000 units sold.
- Lagging Indicator: A lagging indicator is a measurable factor that changes only after the Sales has begun to follow a particular pattern or trend. Summarised that this is what happens after the Sales Process, you can use this trend pattern to correct, align and ensure the ship is steady.
Daily Sales calls of 25 retailers each day
Develop an action Plan:
- How do you want to achieve this goal?
- When is the best time to make these calls to obtain your objective?
- How long do you intend to spend at each retailer?
Get yourself into the groove:
Sincerely, this happens to me also, you never want to do the things you are told to do, this is were Self Motivation comes in, each day dig dip and do what you have to do to achieve your goals.
Execution is an important element in Sales. Sales is a Science.
A feedback mechanism I enjoy using is SPLY ( Same period Last year) This I use to monitor Sales, “whatever is not growing is dying” So I set a target based on Industry growth and Company Growth. I ensure that we do at least 10%
Now the above looks simplified. Sales is so easy, not so true, anything you can not explain to a 6 year old, you yourself do not old. ( one of my favorite Albert Einstein quotes).
I know, Moral is low, but I tell you as a Salesman to another, close your eyes and your ears and face the job squarely.
This may brighten your day.