Return to our Home page Search
Click here for the hotel and hospitality news from around the globe Hotel, Travel and Hospitality Articles Videos and in-depth Interviews
Read more now
Read more now
Read more now
Why Do I Need a Sales Plan?
By Rick Johnson
Thursday, 9th January 2014

Sales planning is critical to sales success; return on Time Invested (ROTI) should be key criteria that every salesperson should use when evaluating their account base.

The biggest asset a salesperson has is their time. It is imperative that they manage this asset carefully.
A 120 Day Sales Plan must be implemented. This plan is the company’s first attempt to build an integrated business plan. You are being asked to evaluate your territory with respect to economic conditions, competitive pressures, opportunities, threats and key customer and vendor objectives.

What is really needed is to step back from the trees so you can see the forest. Some quality thinking will give you your baseline and then you can set your own goals, as well as plan out the major actions to achieve them.
You will repeat this process later in the year. You should strive to be realistic and also stretch in setting your objectives. This means that your “gut feel” says there is an 80% chance that you will achieve 100% of your goal.

The company is going to be making investments in resources and support so that a significant second half growth rate can be achieved. There will be some ramp up benefit during this planning window, so be open minded rather than optimistic or cynical.
First you need to list your key objectives for the next 120 days.
Next list the key action items that are required to achieve your plan. Each section item must have a brief task description, a tangible output (i.e. meeting held, quote submitted, credit approved, management visit made, return authorized etc.), a person named who is responsible for the output and a due date.
Then interview your top 10 customers and work out your best estimate of their predicted sales and gross profit volumes.
A formal sales plan for 2014/2015 is probably the most important activity that you should engage in during the economic challenges we are facing now and throughout the year. I am not talking about the typical DREF, (Delusional Rectal Exaggerated Forecast) that many of us have become accustomed to. I am talking about a realistic, documented plan that lists the specific activities required to accomplish the objectives set for targeted accounts with identified growth potential...

A sales plan is a schedule of events and responsibilities that details the actions to be taken in order to accomplish the goals and objectives necessary to be successful. The plan ensures everyone knows what needs to get done, coordinates their efforts and keeps close track of progress.

Rick Johnson, expert speaker, wholesale distribution’s “Leadership Strategist”, founder of CEO Strategist, LLC a firm that helps clients create and maintain competitive advantage. Need a speaker for your next event, E-mail Don’t forget to check out the Lead Wolf Series that can help you put more profit into your business.

Advertise with ...[Click for More]

~ Important Notice ~
Articles appearing here contain copyright material. They are meant for your personal use and may not be reproduced or redistributed. While 4Hoteliers makes every effort to ensure accuracy, we can not be held responsible for the content nor the views expressed, which may not necessarily be those of either the original author or 4Hoteliers or its agents.

Learn more about DigiJames - in room technology
 Related Articles  (Click title to read)
The 'WOW' Factor.
Sales Strategists.
Direct Sales: Some Challenges for Leadership.
Data Driven Employee Performance and Customer Satisfaction.
 Latest News  (Click title to read article)
Using science fiction to innovate
Wednesday, 20th August 2014

5% increase in passenger traffic in first half of 2014 recorded
Wednesday, 20th August 2014

3 things hoteliers must budget for in 2015
Wednesday, 20th August 2014

US resorts spark investor interest
Wednesday, 20th August 2014

Hospitality2015: game changers or spectators?
Wednesday, 20th August 2014
 Latest Articles  (Click title to read)
Ritz-Carlton Brings Brand Insights To LinkedIn
Wednesday, 20th August 2014

Global Update: Who's Where and Doing What - July 2014
Wednesday, 20th August 2014

SEO is a Journey, Not a Destination
Wednesday, 20th August 2014

Smartphone Check-Ins: Not Quite an Aladin's Lamp
Tuesday, 19th August 2014

How Hotels Can Engage Gen X and Millennial Guests
Tuesday, 19th August 2014
 Most Read Articles  (Click title to read)
Global Update: Who's Where and Doing What - June 2014
5 Social Media Trends to Embrace this Year
Global Update: Who's Where and Doing What - May 2014
Marriott Offering Rewards Points for Social Media Posts
New HR Study: Candid Recruitment Experiences with LinkedIn

© Copyright 4Hoteliers 2001-2014 ~ unless stated otherwise, all rights reserved.
You can read more about 4Hoteliers and our company here

Use of this web site is subject to our
terms & conditions of service and privacy policy