If you find your team is not making quota, it’s time for you to understand why, and what to do. So why aren’t they making quota? Let’s review why they may not be making quota.
Unattainable Quota – is 50% or more of the sales team missing quota? If so, perhaps upper management is not being realistic about what is achievable. If they make quotas unattainable, they create an atmosphere where sales reps begin to lose confidence in management. But more importantly, unattainable sales quotas impact companies financially and managerially. If you don’t want to see your sales reps jump ship – then admit there is a problem and readjust sales quotas for your sales team. Target that 67%+ can do so.
Now, let’s say it is individual reps who aren’t attaining quota. Here’s how to fix it:
Recognize the Problem – investigate your sales teams’ progress or lack of, and look at four things: appointments set, appointments held, deal size, win rate/ opportunities closed. Know the stats of all territory over the last two years. This should give you a good idea of the numbers. Figure out what appointment rates they need to hit, in order to have enough opportunities in the pipeline to close to meet the quota.
Provide Mentors – Ask sales managers or someone who you respect to help the team see where a sales approach might be going wrong. Share your research and numbers, and ask them to provide feedback. Swallow your ego, the truth may hurt a little, but your sales manager or mentor has your best interest in mind.
Focus on Deal Quality– Beyond deal flow milestones, rate each deal, 1-5 on these statuses. Leaks in the boat (per deal) will instantly appear, which can then be plugged.
- Are we talking directly to the DECIDER or Lower?
- Is the DECIDER the Champion?
- Strong, full ROI story presented and bought into?
- Process Improvement/SOWneeds defined and accepted?
- Is there a budget or can it be garnished with certainty?
- Are all recommenders behind you?
- No one internally is against you?
- Is there change seeking/driven orientation and culture?
- No strong competitors, including IT?
- No consultant pushback?
- The solution significantly meets needs as is?
- Any needed tweaking is achievable and on the roadmap?
Instil New Mindsets aka Motivation – Help them find the “Magnet(s)” that will provide the emotional energy needed to go over, around or through the inevitable challenges they will face.
Foster Exceeding the Quota—Increasing percents or rewards above quota is a motivator.
Help Them Make the Best Use of Time – productivity does not make them attain quota, it’s how effective they are with their time. Have them be smart with their time, learn the shortcuts on how to use Boolean search strings and social media tools, like LinkedIn and Twitter, to find important golden nuggets of information that they can use to engage with their prospects.
Use SOAR Selling to get high prospecting returns and recommend they listen to RareAgent’s webinar, Pitfalls to Prospecting. If you find it is a resource issue and that your sales team does not have enough time in the day to get all their work done, then consider outsourcing the top of the funnels to RareAgent. We have several sales reps that use our agents to help them do outbound calling to set up conversations with decision makers.
We can help with many go-to-market services as well, like marketing content generation, social media, and blogging.
Reach out to us at 770.367.2795 or www.rareagent.com