As a Sales Executive, you can use the rule to calculate the monthly quota expected of your team. Let’s say you want to acquire $1,000,000 in new revenue for 2017. Simply divide your total new annual revenue goal by the rule of 78 to get your monthly sales goal.
New sales revenue goal = $1,000,000 / 78 = $12, 821 (monthly sales goal)
This means your total new clients have to provide around $13,000 of recurring revenue monthly. From here you can calculate the exact quote you expect from each sales person. You simply take your monthly sales goal and divide it by the number of salespeople. Let’s say you have a team of 4, this means each employee must reach a monthly quota of $3205.25 to meet your new revenue goal for 2017.
Monthly sales quota per person: $12,821 / 4 people = $3205.25
Now you know a simple reason why your sales friend Joe works extra hard at the beginning of the year.
Wingmate recognizes the significance of increasing your sales revenue. More importantly, we understand why you need to evaluate each method of growth before executing. This is why we have built a Benefits Calculator that will estimate exactly how much sales revenue you can acquire on the Wingmate platform. Not only that, our intuitive benefit calculator incorporates the Rule of 78 into its formula! It also allows you to input your company’s exact figures to give you the most accurate estimate possible.
Go ahead and check it out here.
.svg){kind=small}