Have you decided what sales goals you need to achieve in 2022? The new year is right around the corner, and many of us have started making plans for 2022 now, since budgets and calendars are being set. What about your sales goals? They are as important as deciding on budgets. But more than that, setting the right sales objections is also important. You have to select those goals that are attainable and help to meet your revenue goals.
So, let’s look at some of the sales goals examples in 2022.
Six sales objectives examples for your sales team
There can be different sales goals to consider for your sales team. Some of these can be meeting monthly recurring revenue (MRR) goals, goals to reduce or increase churn, specific goals to improve certain/all parts of your sales process.
It’s always tempting to set as many goals as possible to meet the sales target. But it’s always important to consider your top priorities and try to work in that direction. So, try to decide on a healthy number of sales goals that your team can meet without getting distracted or confused.
Sales objective 1: increasing your monthly or annual revenue
Revenue sales goals are some of the basic objectives and are also considered as ‘large-scale’ sales goals.
A good example of this sales goal can be: increasing your monthly/yearly revenue by 15%. You can decide to set monthly or yearly revenue goals based on your requirements.
You can discuss with your sales team to set the specific revenue goal and break it down further into separate sales goals for each sales team member depending on their experiences.
Setting a revenue sales goal is important to ensure everything is on track, and continued growth can be seen.
To meet the revenue goals, you can put it on top of the list, motivate your team, and set daily activity goals. Some of the daily activity goals can be:
- Total number of sales goals to meet a daily quota.
- Total amount of demos need to be done each week.
- Number of leads to qualify in the sales process
You can also use a sales performance management tool to keep track of daily activities, to ensure where your leads are in their sales journey.
Sales objective 2: reducing customer churn
Another important sales goal to consider is to reduce customer churn. This can be done by making sure your customer is happy and regularly checking up on your customer regularly.
The ideal sales goal is to reduce customer churn by 1%.
This goal is especially crucial to consider when you’re selling a subscription-based business, where maintaining a low-level churn means all the world.
To set out this sales goal, you need to figure out the type of churn (delinquent churn, combat churn, user churn, or account churn) and work accordingly to reduce that particular churn.
Sales objective 3: increase customer lifetime value
Customer lifetime value means the total monetary value a customer contributes to your company during the period they use your products.
Your sales team looks over the prospect’s account they sell to, then, boosting each customer’s lifetime value.
The ideal sales goal can be: boost customer lifetime value by 15% YOY.
As you know, retaining the old customer is much cheaper than acquiring the new ones. Stats show that it costs five times more effort to get sales from the new customers as compared to the old ones.
If you’re planning to add customer lifetime value as a new year sales goal, focus on upselling and cross selling to the customer. Keep some time aside to regularly check in with them and find out if they come across any problem while using your product.
Sales objective 4: increase win rates
Using ‘win rates’ as your sales goal is one way to explore the potentials of your sales team members. By studying the sales data and analyzing the strategy, you can figure out what’s working and what’s not. And based on the results, you can decide on the win rates goals that you want to achieve.
A typical sales goal can be: increase monthly win rates by 7%.
Other variations of this sales goal can be:
- Reduce loss-to-competitor rates by 7%.
- Reduce loss to-no-decision rates by 7%.
This sales goal is important to consider as depending on experience, skills, strong and weak areas, each sales rep will have different expectations and goals to work upon. It will help you to better analyze their skills, and figure out ways to help them be better.
Moreover, by working on win-rate goals you better gauge the productiveness of your sales funnel. It can also let you know how your product is working as compared to other competitors.
Sales objective 5: lower customer acquisition costs
Focusing on reducing customer acquisition costs can help you to put a positive effect on the sales approach you take for internal processes and the bottom part of the sales funnel.
The ideal sales goal will be lowering customer acquisition costs by 5%.
It’s important to look for ‘reducing customer acquisition costs’ as a sales goal because customer acquisition costs represent all types of costs from sales, marketing, other business expenses, and salaries.
Hence, you need to make sure that customer lifetime value outnumber the customer acquisition costs. Reducing some CAC can also help with your goal, along with reducing the total number of cycle times.
Other than that, you can analyze your sales process, ensure that you’re targeting the right customers, see where they are coming from and target more of those areas.
Sales objective 6: track sales times every week
Tracking sales times every week is a simple sales goal but it’s quite an effective goal. The goal can be used to ensure that apart from admin, research and account based work, sales reps are given enough time to do the selling part.
The ideal sales goal will be to increase weekly selling time up to 25%.
You can achieve this goal by introducing cold calling scripts, automating repetitive tasks, making daily to-do lists and keeping track of your time.
