How to Set More-Realistic Sales Targets using Historical Data
How to set more-realistic sales targets using historical data and Predictive Analytics.
To replace the legendary Jack Welch as CEO, the General Electric (GE) Board had selected Jeffrey Immelt in November 2000. As he took the reins, Immelt set an ambitious sales target: “We believe that GE can grow two to three times faster than world gross domestic product, which translates to about 8 per cent sustained sales growth.”
To give you some perspective, the industrial segment of GE had grown 4 per cent historically.
Likewise, on December 4, 2003, Rockwell Automation announced that its board of directors had elected Keith Nosbusch as president and chief executive officer.
How Predictive Sales is Transforming the KPIs You Must Be Measuring
A straightforward question: is your sales team using the same sales performance KPI they did five years ago? If your answer is yes, you better watch out, you might not be using the right KPIs.
Of course, sales per quarter and sales quota attainment are still sensible KPIs to measure. However, total revenues or sales vs quota are lagging indicators. They are “slow KPIs” in the nowadays dynamics B2B sales world. They come way too late.