Keys to Achieving Annual Business Sales Targets

Jets.com managing director Edgar Alacan is an accomplished business executive with experience spearheading key business initiatives such as strategic management and sales. Since 2008, when he co-founded Jets.com, Edgar Alacan has expanded the private jet company, which now generates over $40 million in annual sales.

Achieving annual sales targets is a key aspect of sales management. Annual sales targets are more likely to be realized if businesses pay more attention to their existing customer base and monthly sales goals.

To begin, sales managers should carefully analyze their annual sales goals and make a comparison to past performances. Annual sales figures should then be put into perspective, with an aim of determining the sales potential of clients that contributed to achieving the previous year’s sales targets.

The best approach is to classify existing customers into three categories: limited, stable, and high potential. Limited accounts are customers who only had a one-time need, while stable accounts belong to clients who generated recurring revenue on their existing contracts. Lastly, high-potential clients are those whose accounts have great prospects for growth, including those who are running pilot programs, have placed initial orders, and have strong growth potential, as they have multiple departments/business units.

To track annual sales goals, it’s important to analyze how monthly sales figures evolve. For instance, if monthly sales increase or decrease, you can carry out an audit to find out what happened. Some events, such as hiring a new team member or selling a seasonal product, may impact changes in monthly sales. Analyzing key metrics, such as individual monthly sales rep goals, departmental monthly sales goals, and company monthly sales goals, can help businesses identify what they need to earn each month to realize their annual targets.