In many industry segments, customers are changing the way they interact with, and purchase from, Vendors & Wholesale Distributors. As we’ve seen many times over, the change often seems imperceptible at first, but gains a momentum that soon becomes unstoppable. Technology and the rapid maturation of the web are a key driving force behind this transformation.
Sales Performance Management Best Practices Blog
Leading Wholesale Distributors are using sales compensation to keep pace with industry changes. Here is a quick summary of why and considerations you should be thinking about as you examine your own information technology & analytics investment priorities.
Sales Operations is an emerging discipline that essentially arose with the advent of CRM solutions. It’s a fairly amorphous role which may involve varying levels of ownership for processes such as forecasting to compensation, sales analytics to data quality and many things in between.
A collague recently forwarded over an informative video from Frank Cespedes of Harvard Business School focused on Sales Compensation and his views on its place in a best in class sales process. I've summarizing the highlights related specifically to Sales Compensation below and provided a link in case you have the time to view it.
In reading a recent article on the possibility of other life forms in outer space I was amazed at how an interesting principle they referenced could be applied to our thinking about Sales Compensation design.
The Alexander group recently conducted a survey of sales compensation trends with 135 sales organizations. The survey was conducted at the end of 2017 with expectations for 2018 an integral part of the exercise. Now at the mid-way point in 2018, an interesting question is not only how your sales organization matched up with the survey groups results & expectations, but now with six months in the books, what, if anything, has changed and why ? We take a look at several takeaways highlighted by the survey as ask a few questions to consider as you take stock of 2018 at the half way mark.
When growing your business, setting up and managing compensation plans for sales reps can be a daunting task. The temptation to add too much complexity too fast can sacrifice the strategic benefit of simplicity and clarity. The goal at the beginning should be to start with a solid basic plan structure that can evolve and adapt as your sales team grows and specializes.
Are you someone who thinks that humans are rational? What about Sales reps? The fact is that not everything we do is either smart or rational. In fact, understanding the patterns behind why we often make irrational decisions sets the stage for deeper understanding of human decisions and can yield some very surprising results.
We are happy to share with you the following 'guest post' contributed by Clinton Gott & Ted Briggs of Better Sales Comp Consultants focused on recent research they conducted focused on sales force turnover. In addition to some solid findings related to turnover, there are some tremendous best practices the pass along in the form of 'turnover counter moves' that may sound simple, but can be very hard to do well. Enjoy ...
World@Work recently posted an interesting interview that touched on an often overlooked aspect of the ‘Sales Performance Management’ analytics discussion which focuses on sales force feedback.