Use non-sales-based potential factors
Business users can incorporate a variety of potential gauging factors outside of the sales ecosystem such as marketing spend, key accounts, patient demographics, # of specialized physicians, etc.
National quota allocation, modeling, analysis, and management tool with built-in life sciences focused target setting methodologies. It allows you to set achievable and fair targets across geographies using a variety of sales and non-sales-based potential factors. In addition, it enables the application of caps & floors to improve the quality of goals for outliers. Business users can also iteratively model and analyze with pre-built analysis, bias checks, and statistics and compare performance across model configurations.
Business users can incorporate a variety of potential gauging factors outside of the sales ecosystem such as marketing spend, key accounts, patient demographics, # of specialized physicians, etc.
Allocate national quotas to underlying geographies based on different performance scenarios such as optimist, realist, pessimist, etc.
Trend geography level sales for individual products using embedded machine learning frameworks with the option to select platform identified best methodology or manual selection
Localize language on the platform for easy understanding of the flow for non-native English users
Evaluate the quality of allocated quotas based on historical period testing and visually analyze performance across modeled scenarios using historical performance markers such as historical product volume, market volume, etc.
Configurable quota allocation using a workflow that empowers business users to model different scenarios without having to rely on external consultants
Embedded sales trending parameter for modeling to account for individual geographical level adoption variations
Configurable historical periods, caps, and floors to manage outliers and ensure that quota distribution is aligned with organizational goals
Integrated rule-based quota refinement to ensure that an appropriate quota set is available across desired hierarchy levels for zero-sum changes within pre-configured constraints
Automate the flow of sales and non-sales-based parameters for quota allocation at the desired periodic frequency
Sales quotas are a powerful and effective tool that provides the salesforce visibility of expectations and helps them work towards strategic organizational goals. Apart from helping you achieve your strategic objectives for different layers such as sales, market, and financial, it also assigns a definite timeline. While the right goal setting could do wonders for your business, setting the wrong quota could leave your salesforce demotivated and dissatisfied – the individuals happen to be the backbone of your organization and overall growth.
During every incentive cycle, the sales operations team and sales leadership have to deal with setting challenging yet fair sales targets. As a business, you have to ensure that your sales goals are engaging and realistic and that your sales team can meet their goals effectively while driving your business toward growth.
A lack of a thorough understanding of the market dynamics along with other external factors can make the process of goal setting inaccurate and challenging. Some of the common indicators that show there might be a problem with your sales quota include –
When sales quota is ineffective, it can end up being demotivational to the employees, impacting the employee morale and hence the company revenue. For a goal setting process to be effective, the set quotas need to be tested to ensure they are unbiased, fair, and able to deliver the desired outcome.
The right quota in sales can not only keep your salesforce productive and satisfied but also help you drive toward your organizational goals. Here are a few best practices that sales operations teams should keep in mind to set the right sales quota –
Automating your quota in sales process can benefit your business in more than one way. With the right quota management tool, you can –
Sales quotas are a valuable metric to measure the overall performance scorecard of your sales team. Other than that, it also acts as an incentive to motivate employees to work and achieve specific goals. However, if you want them to be effective, you must know how to set them right.
With Aurochs’ Quota Manager, you can set fair and achievable target earnings report for your employees while allowing you to track their performance. If you want to increase the quality of your sales targets, get in touch with us to leverage the power and potential of our Quota Manager platform to drive your business forward.
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