National Sales Center

Year End Sales Plans That Work

Most corporations end their Fiscal Year as the New Year Ball falls in Time Square. This makes the fourth quarter a very busy period, especially for the Sales Organization. Here is some advice on how a sales team can get the most out of their year end sales plan.

I’ve worked with some companies that ended their fiscal year on June 30th. I prefer June 30th to December 31st because there are fewer distractions. I rather enjoy Christmas and Thanksgiving instead of trying to fit them in my work schedule. However, we are not here to restructure how Finance reports. We just want to get the most out of it with a solid year end sales plan.

Sales Organizations have a lot on the line during the 4th Quarter. Some are in a “Do Or Die” situation to make their numbers. Others want to maximize their compensation because they are in Bonus territory. Still others need a few more orders to move into First Place. Add the Holidays to that mixture and you can see why the 4th Quarter is the most hectic time of the year. Unfortunately, it only gets worse and that’s why you need a year end sales plan.

What do I mean when I say “it only gets worse”? Many executives and staffers are busy developing plans for the New Year. It’s time for a new compensation plan and don’t forget the “Fast Start” National Sales Meeting in January. All this is happening during the height of the winter cold and flue season. Developing a year end sales plan is the only way to stay focused on the job at hand. Never take your eye off the sales process.

Elements Of A Year End Sales Plan

The goal of a year end sales plan is two fold. First, you want insure all the available potential sales close by 12/31. Second (and often overlooked), is the need to get the New Year off to a fast start.

I don’t believe in sandbagging orders. If that’s your “fast start” plan, forget it! I want all the business right now. That’s why I like Commission Plans that include bonuses or accelerators. A solid year end sales plan is focused on closing business right now and with great urgency.

Begin your year end sales plan by taking inventory of your sales funnels or pipelines. Each qualified opportunity should be placed in specific buckets.

• “A” – Prospects that should close by 12/31
• “B” – Prospects that could close by 12/31
• “C” – Prospects that will not close by 12/31

Your first priority is the “A” Bucket. You must insure that the deal that should close by 12/31 actually get booked by that date.

Your next priority is the “B” Bucket. Consider creative ways to close prospects that could close by 12/31. Your year end sales plan must incorporate ways to shorten the sales cycle for those opportunities that found their way into your “B” Bucket.

Your “C” Bucket is your lowest priority but that’s not to say that these opportunities should be overlooked or placed on hold. The key is to keep the sales momentum going in these opportunities because you’ll need them in January. A year end sales plan balances ending one year while starting a new year.

Year End Sales Plan – Part II

A year end sales plan is also about insuring your new sales year is off to a fast start. Reps that don’t have many “A” and “B” opportunities should be blitzing. Pack your sales funnels with new qualified prospects by focusing on sales prospecting activities.

January is also an excellent time for a sales contest but protect against sandbagging by not announcing the sales contest until the first week of January.

A fast start to the new sales year is important but you also want to drive success throughout the year. So, now is the time to get involved with employee development projects. The sales team with the best sales skills will always get the biggest piece of the pie. Therefore, your year end sales plan must include some sales training. Start by reviewing the basics and then move into some advanced sales techniques and strategies.

I hope this advice on year end sales plans will help you succeed this year and get you off with a fast start to the New Year.

Nick

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Tags: sales advice