How to hit your quota in Q4 easily
(Tips + Calculator)
Read time: 3 min
When I joined Chili Piper, I didn't hit my quota in Q4.
In January, I had a coaching session with one of our sales leaders. Leader: "Check your numbers, go figure out what's wrong with your process.”. I never reviewed my process before this conversation.
After this conversation, the same month I hit my quota.
Today, I want to share how I use this strategy and how you can apply it to your own life to perform to your full potential and hit your quota in Q4.
The problem with how we usually set goals.
Leadership: “your expectations for Q4 are: 45 qualified demos”.
It’s really hard. Because we don’t have a plan, and we just start Q4 without a plan. I know I’ve committed this error many times myself.) The problem is this: we set a deadline, but not a plan.
It's much easier when you break it down, and have a daily game plan.
How to hit your quota in Q4 easily
Step 1: Review
Review your performance in Q3: your conversion rates (quality) and your activities (quantity).
Go on your CRM or Sales Engagement Platform.
Make a list of all the meetings you booked by prospecting channels
How many emails did you send? How many qualified demos?
How many calls did you make? How many qualified demos?
How many LinkedIn messages did you send? How many qualified demos?
How many videos did you send? How many qualified demos?
How many people did you add to a cadence?
How many accounts did you prospect?
What’s the quality of those accounts?
What work? What didn’t?
Etc
New SDR: “But Elric, I just started as an SDR, I don’t have those numbers. What should I do?”
Elric: “Great question!”
Here’s what you can do:
You take the average of the team
If you don't have a team, focus on activities then review your previous week and iterate.
Step 2: Plan
Now time to plan Q4 based on your review.
How many business days in Q4 2022?
October: 20 days
November: 20 days
December: 21 days
Total: 65 business days
But during Thanksgiving in November, people take 1 week off and the same for Christmas (if you work with customers that celebrate Christmas), but they take 2 weeks off.
So the real number of business days:
October: 20 days
November: 17 days
December: 12 days
Total: 49
To get 45 qualified demos with a 70% show rate.
You need: 65 meetings booked.
Daily: 1.3 meeting booked
October: 27
November: 22
December: 16
After reviewing your metrics in Q3, you booked:
20% of your meetings via LinkedIn with a 2% conversion rate
45% of your meetings via cold calls with a 1% conversion rate
35% of your meetings via cold emails with a 0.32% conversion rate
In Q4, you need:
2 893 cold calls made to book 29 demos
7 031 emails sent to book 23 demos
643 LinkedIn messaged to book 13 demos
Your daily and weekly game plan:
Step 3: Schedule
Time to schedule your gameplan
Now, you are going to time block your days to make sure you are doing your activities every day to hit your quota in Q4.
Daily gameplan
Calls: 2 blocks x 1h - 30 calls
Emails: 3 blocks x 1h - 41 emails
LinkedIn: 1 block x 1h - 13 messages
6h of Revenue Generating Activities that you need to do every day to hit your quota in Q4.
Step 4: “Monetize”
I just learned about this thanks to Rodrigo Seruya Cabral on my Thursday’s LinkedIn post.
To motivate yourself and think about your commissions differently. And how much revenue you bring to your company, let’s think about:
How much $ do you earn for each activity?
How much $ does your company earn for each one of your activity?
Let’s say our commissions for Q3 are $3k USD and our goal for sourced ARR is $45k USD.
Here’s what your earn and what your company earns:
Now you can motivate yourself by seeing how much money you earn for each one of your activities, and how much revenue you bring to your company.
If you don’t know how to do all of this, I created a spreadsheet you can use to break it down and hit your quota in Q4.
You can find it here, and make a copy.
I made this video to show you how you can use it.
To recap, to hit quota in Q4, try this:
Step 1: Review
Step 2: Plan
Step 3: Schedule
Step 4: Monetize
It’s not easy.
But it's easier than seeing 45 qualified demos with no plan.
Next step?
Copy the spreadsheet, review your Q3 performance, use the spreadsheet, make your own: plan, schedule and monetize your Q4.
Thanks for reading.
That's all for this Sunday. 1 simple process for SDRs.
Quick Reminder: If you like my emails please do “add to address book” or reply.
See you next week.
Happy prospecting,
Elric
PS: Here're the 3 last issues if you miss them:
#22 - 3 ways to handle "running into a meeting" objection on the phone
#20 - Prospect says ”Not interested” via email. Here's how to handle it.
If you want to read the previous ones, you can here.
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