## Bayesoft Sales Target Macro

The purpose of this tool is to help you set realistic sales targets.

This tool is designed for the following audiences:

• sales professionals
• sales managers
• marketing departments
• ecommerce sites

The tool is used for two purposes:

• calculate the odds of surpassing a target percentage based on prior sales history and current sales.
• calculate the odds of surpassing an average sales amount based on prior sales history and current sales.

Take the following examples.

A website estimates its sales rate for a new product will be 10% (1 sale per 10 visits). In its first week, of the 10 visits to the information page of this product, there was 1 sale. The sales percentage macro calculates the odds of surpassing the target sales rate of 10% as 2.3 to 1. The corresponding probability is 69.7%.

In the year-to-date (the end of the previous month), a commission salesperson has had 40 sales calls, resulting in 4 sales. The target rate is 15%. In the current month, the salesperson has had 10 sales calls, resulting in 2 sales. The sales percentage macro calculates the odds of surpassing the target sales rate of 15% as 1.1 to 1. The corresponding probability is 53.1%

A store is looking for an average sale to exceed \$100. In sales from the previous two weeks, the average was \$100.35. For the current week, the average is \$102.13. The sales amount macro gives the odds of exceeding an average of \$100 as 13.1 to 1 with a corresponding probability of 92.9%. If this were a new store with no prior data, using just the data from the current week, the odds would be 8.7 to 1 with a corresponding probability of 89.6%.

The two tools can be used in tandem. For example, suppose the odds of exceeding a sales rate of 10% are 3 to 1 (corresponding probability of 75%) and further suppose the odds of exceeding an average sale of \$500 are also 3 to 1. Then, for 100 sales calls, the salesperson can expect to make at least 10 sales each earning an average of \$500 for a total of \$5,000.

We are nearing the end of the beta testing period. To test the macro, you must become a member of Bayesoft.com. Within a week of registeration, you will be asked to complete a survey in which we ask you about the usefulness of the product and what it should be priced at.

Become a member of Bayesoft.com.