How can you set and track media sales goals and key performance indicators (KPIs)?

1 SMART Goals

The first step to setting and tracking media sales goals is to make them SMART: Specific, Measurable, Achievable, Relevant, and Time-bound. SMART goals help you define what you want to achieve, how you will measure it, whether it is realistic, how it aligns with your overall strategy, and when you will accomplish it. For example, a SMART goal for a media salesperson could be: Increase the number of new clients by 10% in the next quarter by making 20 cold calls per week and following up with 10 prospects.

2 KPIs and Metrics

The next step is to identify the key performance indicators (KPIs) and metrics that will help you track your progress towards your SMART goals. KPIs are the critical indicators of success that reflect your performance and impact. Metrics are the specific numbers or data points that measure your KPIs. For example, if your KPI is to increase the number of new clients, your metrics could be the number of cold calls, the number of prospects, the conversion rate, and the revenue generated.

3 Data Sources and Tools

The third step is to determine the data sources and tools that will help you collect, analyze, and report your KPIs and metrics. Data sources are the places where you can find the relevant information for your media sales performance, such as CRM systems, analytics platforms, surveys, or feedback forms. Tools are the applications or software that help you organize, visualize, and communicate your data, such as spreadsheets, dashboards, or presentations. For example, you could use a CRM system to track your cold calls and prospects, an analytics platform to measure your conversion rate and revenue, and a dashboard to display your KPIs and metrics.

4 Review and Action

The fourth step is to review and act on your data regularly and consistently. Reviewing your data means comparing your actual performance with your expected performance, identifying the gaps, and understanding the reasons behind them. Acting on your data means taking the necessary steps to improve your performance, such as adjusting your strategy, tactics, or resources. For example, you could review your data weekly or monthly and see if you are on track to meet your SMART goals. If not, you could act on your data by changing your approach, increasing your efforts, or seeking feedback.

5 Communication and Collaboration

The fifth step is to communicate and collaborate with your stakeholders and team members about your media sales goals and KPIs. Communication means sharing your data, insights, and achievements with the relevant people, such as your manager, clients, or colleagues. Collaboration means working together with others to achieve your goals, such as asking for support, feedback, or advice. For example, you could communicate your progress and challenges with your manager in regular meetings and reports, and collaborate with your colleagues to share best practices and learn from each other.

6 Continuous Improvement

The sixth and final step is to continuously improve your media sales goals and KPIs based on your data, feedback, and learning. Continuous improvement means constantly evaluating and refining your goals, KPIs, metrics, data sources, tools, and actions to ensure they are relevant, accurate, and effective. It also means embracing a growth mindset and seeking new opportunities and challenges to enhance your media sales skills and results. For example, you could improve your goals and KPIs by setting higher standards, adding new dimensions, or exploring new markets.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?