Important Sales Objectives For Every Small Business

When trying to grow a small business, it’s important that you plan properly and set goals and objectives, especially when it comes to your sales. After all, sales is one of the most important functions of a business because without sales, there won’t be any revenue or income.

If you were to sign up for any kind of coaching for small business the first step of setting up your business for success is setting goals for the company. Every company will have their own unique set of goals, whether that means bringing in more revenue than ever or expanding the company to other localities or even countries. To reach these overarching goals, you must also set smaller goals that will be easier to achieve and have more concrete ways of being accomplished. A good rule of thumb here is to set SMART goals, these goals are:

  • Specific
  • Measurable
  • Attainable
  • Realistic
  • Time-bound

To put this into perspective, instead of setting a goal like “sell twice as many products”, it will be much better to phrase it as “Sell 5,000 units of our flagship product by year’s end”. The latter is specific on what product you need to sell, measurable in its amount, and has a definite deadline at the end of the year. Making sure your goals are attainable and realistic, they must be based on previous data and performance of your company.

Sales Objectives For A Small Business

Once your company has set its business and sales goals, an easier way to envision how you’ll reach these goals is to set sales objectives. There are 4 main kinds of small business sales objectives, with different specific objectives under each kind.

Market Coverage

These kinds of objectives target your sales team’s capability to cover and reach the market. You can choose to dominate a certain geographic location, age group, or industry/sector among many others. These objectives will determine how many people you need on your team and the budget & time allocated to finding prospects. Some examples of Market Coverage objectives are:

  1. Number of new hires
  2. Leads
  3. Market Penetration

Sales Force Capability

Objectives under sales force capability determine the effectiveness of your team to close deals. You can improve this by actively seeking new prospects and opportunities or cutting down the time and cost it takes for your team to close deals. Some examples of Sales Force Capability objectives are:

  1. Cycle Time
  2. Leads per month/quarter
  3. Win Rate
  4. Customer Acquisition Costs

Customer Focus

Customer Focus objectives are all about a sales team’s ability to attract, retain, and grow relationships with your partners and clients. Repeat customers are always more cost effective than finding new prospects. With an existing relationship, not only will you have a better idea of their needs, but it can also be easier to sell them other products or services that complement their needs. Some examples of Customer Focus metrics are:

  1. Customer Retention
  2. Churn Rate
  3. Cross-sell and upsell

Product Focus

Product Focus sales objectives look at your products and services and see how effective they are in reaching your goals. Often, this means looking at the revenue earned from each of your products or product lines and the profit margins the company enjoys from these. Using historic sales data can tell you which of your product lines or services are earning you the most/least money so you can decide which specific products your sales team should be pushing to your prospects and clients. A few examples of Product Focus metrics are:

  1. Revenue by product/product line
  2. Percentage of revenue from each product
  3. Profit Margins

Choosing The Right Objectives And Planning For Success

You can set any type of sales objective and any number of objectives, as long as these will still be feasible and attainable for your sales team. Remember though, not every objective will have a clear-cut solution to reach it. For example, while you may be able to automate emailing prospects to help cut cycle time, there might not be a single solution for improving your win rate. There will always be some trial and error to find the best way to reach your busines goals.

If you feel stuck with your planning and strategy, why not consider undergoing business coaching for small business? Enlist the help of a seasoned marketing practitioner like Shawn Tiberio. Shawn has years of experience coaching for small business and helping companies reach their full potential. Book a call today!

Recent Post
Developing Company Culture To Increase Sales

Developing Company Culture To Increase Sales

When you’re running a business, it’s easy to get caught up in the day-to-day tasks to keep things running and to make sure you stay profitable. However, when you only focus on the daily tasks and trying to lock in sales, you can lose sight of other areas of the...

How Email Marketing Is Still An Effective Tool To Increase Leads

How Email Marketing Is Still An Effective Tool To Increase Leads

We know what you’re thinking: Is email marketing for leads still effective? It’s a valid concern, especially in the age of SEO and social media marketing. However, it’s wise to not give up on email marketing just yet, especially if you can still get a substantial ROI...

Proper Sales Planning To Take Your Business To The Next Level

Proper Sales Planning To Take Your Business To The Next Level

Running a small business can be a challenge especially when you’re also trying to grow the company and expand. We all know sales is a huge factor in this. After all, if you aren’t making money, how do you expect to pay for the expansion? Fortunately, there are some...

The Importance Of Product Knowledge Training For Your Salesforce

The Importance Of Product Knowledge Training For Your Salesforce

When you think of sales, you often think of a smooth talking salesman who somehow gets everyone to buy whatever they’re selling. Some may think it’s a gift, but to those in the know, sales is a skill that you can build on and improve. While there are many skills,...

How Your Brand Voice Can Help Your Brand’s Identity

How Your Brand Voice Can Help Your Brand’s Identity

When coming up with your business architecture for the first time, developing your brand voice may be one of your last priorities. And we don’t blame you! Sometimes creating a logo first or coming up with the overall design elements of your brand is just more fun to...

Creating An Effective Business Plan For Your Start-up

Creating An Effective Business Plan For Your Start-up

Business planning for start-ups is a crucial first step to take for the business you envision to reach the goals you want it to reach, and even go beyond! Although the process may be daunting at first, with the right steps at your disposal, you should be able to...

Can A Social Media Presence Affect My Lead Generation

Can A Social Media Presence Affect My Lead Generation

Over half the world’s population is on social media – 3.96 billion users, to be exact. When it comes to your business’ social media presence, there’s a high chance that potential leads are somewhere in that sea of users. But your social media efforts don’t have to...

Follow Shawn on all Social Media:

Follow Me

On Facebook

Follow Me

On Instagram

Follow Me

On Tiktok

Follow Me

On LinkedIn


Your Mind