Goals vs. Objectives and Strategy

First, lets give a quick clarification of definitions. Goals are your general intentions, the big picture aims or you or your company.

Your objectives are the outcomes that represent achievement of that goal. Things you can actually observe. In order to be classified as an objective, you have to measure them. You need a way of defining whether you have or have not completed them successfully.

Strategies are the action plans you’ll execute to reach the objective. Tactics are the pieces and parts of the strategy:

• GOAL: To increase our company’s footprint through participation in social media.
• OBJECTIVES: Increase our blog subscribers by 15% in 6 months. Grow our LinkedIn connections by 250 members (a 25% increase) by the end of the year. Establish a Facebook Page with 500 fans within 6 months to 9 months
• STRATEGIES: Develop a strategy or set of strategies for each one. It is a roadmap for how you will get there.

So that is the set hierarchy. Set these rules in place for 2010 to increase your exposure to the world and build your social media portfolio.

Losing Is Never Fun

Losing is never fun. When you invest significant time and resources pursuing a deal and it falls through, it’s frustrating – and invariably causes some self-reflection.

Why weren’t we successful this time? What could we have done differently? Implementing a process to learn from your losses can yield great dividends – and is often the best way to lock in the next potential customer you approach.

There are plenty of reasons deals fall through. See if any of these sounds familiar:

· The price was too high

· The competition had a personal relationship with the buyer

· The product was missing a key feature

· The product isn’t a comprehensive solution

· The sales rep didn’t position our product correctly

· The lack of a reference customer in the industry

· The customer didn’t believe they have the problem you solve

· The competition simply outsold your firm

· The lack of an ROI toolkit

The list goes on but by taking the time to formally analyze your losses, you discover a wealth of valuable

information that can impact your overall vision and strategy. Here are 10 quidelines you can apply to your own

loss analysis:

1. Interview internally and externally

2. Choose an objective individual to conduct the interview

3. Don't wait to long

4. Understand the customer need

5. Get their prospective on your product

6. Get pricing feedback

7. Get competitive insights

8. Review their key decision criteria

9. Evaluate the sales process

10. Review the effectiveness of your marketing

If you build this in as a normal part of your sales process you not only will get valuable feedback, but you will

indicate to them that you are a company that is continually looking to improve your products and services. More

importantly, if you are engaged in a similar opportunity in the future, you will be armed to win.

Exceeding Expectations in Sales

There was a feature article in Selling Power this month (July/August 2009) that outlined how to set expectations for sales people. This is a add on to my previous post "Sales Managers - Don't Shoot Yourself in the Foot." (7/29)

As sales managers in a transition economy you should do the following as Selling Power outlines:

• set expectations that are attainable with a stretch not unattainable or unrealistic
• goals should be tied to variables the sales staff can control
• goals should be customized to fit the salesperson situation or territory - goals should be broken down into small bites - management must sit down with sales people and show them a clear path they will take to achieve the stretch target
• if you have to adjust the goals based on economic conditions, re-motivate the team with a goal they consider to be fair.

So are you following these easy steps or are you totally or partially disrupting the dynamics of your team with new goals, alignments, and added duties that take their eye off the goal?