Another important sales goal is to increase the number of new customers purchasing your products or services. Gaining new customers over time will lead to a healthy and profitable business, ensuring that profits don’t slide backwards when you lose longstanding customers.
Example: SpinzFlip set a goal of increasing its customer acquisition rate by 8.5% monthly. This is to offset the customer attrition rate of 7% while still ensuring growth.
4. Increase market share
A company’s market share is the total percentage of the sales they control in the market for their products or services. Increasing market share is a clear indicator of a company’s competitiveness. As a matter of fact, when a business improves its market share, it often improves profitability.
Example: The global roller skate industry is worth afghanistan phone number list about $600 million. SpinzFlip has $3 million in annual sales or about 0.5% of the market. If they want to double their market share, they need to set a goal to increase their annual sales to $6 million.
5. Increase unit sales
If you want to get a specific product into market faster, you might set a goal for the number of units sold. Increasing the number of units each rep needs to sell pushes them to pursue more leads.
Example: SpinzFlip currently sells 60,000 pairs of skates annually. They want to double their unit sales, so their goal this year is to sell 120,000 pairs.
6. Minimize customer churn
Reducing customer churn (aka customer attrition), or the number of customers who leave your business during a specific period of time, is a worthwhile sales goal as it ensures you don’t have to constantly replace your customer base with new leads. If your business has a low churn rate, you are more likely to experience growth. For example, a subscription-based company likely needs more new subscriptions than lost subscriptions in a given period to be profitable.