Forcing Yourself to Go and Go Until You Collapse in 2019?
Businesses often feel like they should always be selling more, more, more. But if you set realistic goals, you’ll have something to work towards strategically, rather than just forcing yourself to go and go until you collapse. You can also use your strategy to evaluate how you’re doing over time. If you’ve got a clear plan laid out, it’s easier to see what sales techniques are helping you approach your goals and what are just gumming up the works.
Making rational, realistic sales goals might be super-important, but it doesn’t have to be super-complex.
First, it's probably a good idea to break down your sales process into several steps. You’ve got to find potential customers (AKA generate leads), contact them, close the sales, and deliver the goods. Then, give each part of this process its own measurable goals.
Say you’re generating leads. Consider how many potential customers you want to find and what percentage of these leads need to turn into buyers to be worthwhile to you. The answers to these questions can become your goals.
Ask these types of questions for each part of your sales process, making sure each question leads to an objective you can measure and track. Then put all the info together, and you should have reasonable sales goals to pursue.
A great way to help keep your goals realistic is to imagine your ideal customers – the people most likely to buy your stuff. Consider their income, location, and interests. This can help you figure out how many people you can reach and how many of them might buy your products.
Sales goals aren’t just something to set for yourself. If you have a sales team, make sure you’re setting both individual and group goals for them, too.
Tools like bonuses, commission, and non-cash incentives can go a long way to helping your salespeople achieve the goals you’ve set for them. Remember: People like to be recognized for bringing in business.
Tracking your sales goals means measuring and collecting data on how your sales are performing. There are lots of ways to evaluate your sales methods: tallying the revenue you bring in, seeing how many leads you generate, etc.
Once you’re generating data, create a timeline for reviewing it. For example, sales from 1-week specials can be checked weekly. Results of other initiatives can take longer to see, so you might want to measure them quarterly or annually.
Benchmarking helps businesses measure which of their sales strategies are most effective. It also helps them see whether they’re keeping up with competitors and industry leaders.
You can use benchmarking for performance-based data like units sold, profit margins, etc. Or you can benchmark your processes to get insights on things like customer service, product reliability, or brand reputation.
When you benchmark your current processes against your past methods, as well as those of your competitors and industry leaders, you can see what’s most effective (AKA the “best practices”) for each process.
Keep benchmarking and evaluating over time. The more you learn about your business, the closer you can get to your goals as you hopefully become a lean, mean selling machine.
Track visits or purchases as conversions
Floodlight tags allow you to measure conversions — or in other words — whether your advertising campaign led to valuable customer action. But what constitutes a conversion? Well, that’s up to you, really! Depending on your campaign goals, there are two main ways to count conversions. We’ll review how these approaches differ and then talk about some bonus information you can capture with Floodlight tags.
Track purchases with the sales tag
The sales tag uses revenue from purchases to calculate conversions. There are a number of different ways to configure sales tracking. You can either count each transaction (may include multiple items) as a conversion using the “Sales - Transactions” tag or you can track each item purchased as a conversion, using the “Sales - Items Sold” tag.
Track visits with the counter tag
The counter tag counts each user visit to the advertiser’s site as a conversion. Use the counter tag if your main goal is to drive site visits or increase brand awareness.
You can choose to count each user visit as a conversion or you can filter out multiple visits from the same user by using the “Counter - Unique” tag, as opposed to the “Counter - Standard” tag.
In addition to tracking sales revenue and visitor interactions, Floodlight tags can also pass other information, such as promo codes, zip codes, product type, and so on. These are called "Custom variables." Campaign Manager can capture this information, as long as it’s not personally identifiable information like a full name or email address.
Get back in touch with your audience
The second main use for Floodlight tags is to create remarketing lists. These audience lists are groups of users who interacted with your site or app and are available to target ads to. There are many strategies to remarket based on audience lists.
Can you see how Floodlight can help you measure success against your campaign goals? Without Floodlight tracking, it’s very difficult to actually measure performance against specific goals. Floodlight gives you clear insight into your campaign performance so you can do more of what works, and less of what doesn’t.
Please comment share and like with someone like you that finds value in this blog post. Thank you in advance.