1.  Mr. Vivek Bindra  Director - Global ACT  www.vivekbindra.com www.vivekbindra.com  www.globalact.org.in www.globalact.org.in

2. Meet/exceed sales quota! Develop your team!

3. Monitoring Salespeople Market Conditions Following Up Competitor Reactions Instituting Corrective Actions

4.  Sales goal (quota): performance standard by which salespeople are measured  Sales goals are useful for several reasons Synchronize direction and efforts of sales force with plans developed by top managers Benchmark performance Achievement of goals can be motivating and is usually tied to compensation

5.  Most people agree on the big picture, but their implementation of sales management practices reflects nuances unique to their home cultures  Some researchers believe that globalization is causing sales management practices to converge  There are still variations Short-term goals in US Long-term goals in Japan “God willing” in Middle East

6. Input-Based Goals  Relate to the observable selling efforts a salesperson must make  Number of sales calls  Number of presentations  Number of proposals  Number of new clients contacted  Ensure the reps are performing core selling activities Output-Based Goals  Selling results a rep is expected to achieve  Number of orders received  Revenue generated  Sales volumes  Profits

7.  “All-or-Nothing” approach vs.  Reward for reaching part of a goal 90% threshold goal 100% actual goal 110% stretch goal

8.  Many firms solicit input from sales force about the goals finally set for them  Helps improve rep morale because managers better understand obstacles  Disadvantage: reps have incentive to “lowball” goals

9.  Flawed sales projections based on limited marketing research  Changes in marketing mix variables resulting in inferior products or services  Increase in cost of supplies passed on to buyers via higher product prices  Promotional campaigns don’t produce projected results  Delays or other problems with distribution of products  New competitors and competing products entering marketplace  Environmental factors affect customer demand and cause customers to postpone or cancel their purchases  Change in laws and regulations preventing or restricting use of products and services or making them more expensive  Changes in the way firms do business, for example, as a result of new technology

10.  SMART format for establishing goals: S pecific M easurable A chievable, yet challenging R ealistic T ime-based

11. Set goals that are easy for sales representatives to understand, a reasonable challenge to achieve and have clear deadlines for completion 1 Important tasks not included as a goal may get ignored; if it’s important, then set a goal for its accomplishment 2 Having too many goals can create stress, keep the number of goals to a reasonable number; clarify importance for prioritization 3 Get your sales reps to commit (“buy in”) to their goals by explaining how they have been set and involve 4

12. Clearly indicate how the sales performance will be measured and rewarded 5 Provide feedback as frequently as possible; encourage reps to use alternative approaches to sell if initial approaches don’t work 6 Make sure people know you have confidence in their ability to achieve their goals 7 Failing to achieve a goal should not be viewed as a “total failure,” since it should be considered progress on the road to success 8

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14. Thank You