Setting Realistic Sales Goals amid a Pandemic

We just got through a really crazy year, didn't we? 2020 is definitely one for the books. And although it gave us a lot of headaches and heartaches, it also gave us several opportunities to reevaluate what's important and to fix our eyes on things that are meaningful. It realigned us and our values in ways that we already forgot.

And while lofty dreams and ambitions are not bad but actually good for businesses, the pandemic grounded us and brought us back to reality. We now face a new year with a slightly different approach from the way we did in previous years.

​One of the areas where this difference is quite evident is in the way businesses have set goals for this year. In light of the pandemic's adverse effect, business owners and corporations have outlined more realistic goals for their companies, especially when it comes to sales and conversions.

One of the biggest considerations that they factored in was the financial capability of consumers given the present global health and economic climate.​

What makes goals realistic and attainable?
It has always been said that when you set goals, they should be smart -- not the word "smart" but the acronym S.M.A.R.T.

Specific. Measurable. Attainable. Relevant. Time-bound.

Goals should be smart enough to adapt to certain situations. They should be outlined with a certain flexibility to it that will allow it to still be beneficial despite any disruptions, like COVID-19.

Given the number of businesses that closed shop, the millions of people who were laid off and furloughed, and the ones who are now working at home, all of these statistics should be factored into how you set your sales goals for 2021.

Simple Steps to Setting Realistic Sales Goals amid a Pandemic

Step 1: Revisit your 2020 goals and see where you're at.
A good business always, no matter what it is, whether it's a traditional brick-and-mortar retail shop or a buy-and-sell-property-online type of business, has a specific set of goals for each year that it operates. Now would be a good time to dig up the goals you have written down for 2020 and see how much of it has been met and accomplished. An honest-to-goodness evaluation is needed to determine how successful you are. However, you will also want to consider the pandemic if you didn't hit your annual goals, just like almost everyone else.

Step 2: Go over your long-term plans.
Before you start making your plans and outlining your goals for this year, it is recommended that you dig up your long-term plans first.

Considering how disastrous 2020 was, you might want to reevaluate your long-term plans because of the many changes and disruptions the pandemic caused. A lot of your plans would either be no longer feasible or outdated with everything that's happening now.

Medical and business experts all agree that, even with the vaccine, this new normal we have now will likely last longer.

Step 3: Take a look at your sales trends from the past year.
Because we're still in a pandemic, it's important for business owners and corporations to manage expectations by reviewing data from the previous year and facing the hard facts.

If your company was one of the few that performed exceptionally despite the health crisis, good for you. However, not everyone is as fortunate. Since most experts believe that 2021 is most likely just an extension of 2020, you need to manage your expectations that you will probably do the same, if not a little bit better, than last year. This will give you a good idea of what your main goals are in terms of leads, conversions, and sales.

Step 4: Find out what the competition is doing.
In any industry, competition is one of the main driving forces of innovation and progress. Business owners become highly creative and innovative just to stay ahead of the competition. Acquiring knowledge about what your competitors are doing to boost their sales during this time will be a valuable resource for your company's own survival.

Step 5: Identify your sales capacity.
One of the biggest parts of sales planning is sales capacity. With a lot of companies affected by the pandemic, it would be wise for you to take a closer look at your sales capacity. Check the production level of each of your people, especially those in sales, and based on the total generated production or revenue, you will have an idea of what your sales capacity is. You can use this information to generate an estimated volume that your team can realistically handle and deliver this year.

Adjusting your goals and making them more realistic does not necessarily mean you're lowering your standards and compromising your company. It just shows that you are willing to adapt and adjust accordingly to the signs of the times. The ability to adapt to changes is one of the traits that will keep you in business during and beyond a crisis.

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By IC mag Contributors