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What your CEO needs to know about sales compensation : connecting the corner office to the front line
Featuring insightful interviews with Fortune 1000 C-level executives and real lessons from the field, this essential book reveals the tough questions leaders should be asking about how sales incentives drive the business.
Book
The Innovative Sale
When it comes to strategies, salespeople usually veer toward one of two extremes: operating analytically…or by the seat of their pants. In this groundbreaking book on sales creativity, readers will learn how to integrate the right-brain aptitude for innovation with the left-brain affinity for logic and process. The result is a fresh, dynamic approach that addresses customers’ needs while expanding the salesperson’s entire way of thinking. Packed with real-life examples and powerful principles, The Innovative Sale reveals how to: • Define the sales challenge• Question assumptions and look for ways to reframe the problem• Mine unrelated situations for fresh solutions• Get comfortable with feeling lost as you explore new directions• Break some rules and learn to “grow with the flow” The Innovative Sale draws on the work of pioneering geniuses in design, architecture, and the arts to help salespeople develop a predictable creative process. With the tools and tips of this game-changing book in hand, they’ll unleash their own unique powers of intuition and innovation, and land more sales than ever before—in ways they never imagined possible.
eBook
What Your CEO Needs to Know About Sales Compensation
The way a company designs its sales compensation program has a greater impact on behavior and results than any sales training, sales management method, or leadership message. Yet most senior executives fail to see the big picture, leading to fundamental misalignments between sales strategy and organizational goals.
Featuring insightful interviews with Fortune 1000 C-level executives and real lessons from the field, this essential book reveals the tough questions leaders should be asking about how sales incentives drive the business. It provides valuable thought models and a Revenue Roadmap identifying the four major competency areas and 16 related disciplines that must connect for an organization to grow profitably. Last but not least, readers will find an interactive report card they can use to grade their own compensation plans.
Sales compensation powers the performance of the entire business. What Your CEO Needs to Know about Sales Compensation casts a spotlight on how leaders at all levels can leverage the strategic power of incentives to reach the ultimate goals of their organization.
eBook
The innovative sale
In this groundbreaking book on sales creativity, readers will learn how to integrate the right-brain aptitude for innovation with the left-brain affinity for logic and process. The result is a fresh, dynamic approach that addresses customers' needs while expanding the salesperson's entire way of thinking. Packed with real-life examples and powerful principles
eBook
What your CEO needs to know about sales compensation : connecting the corner office to the front line
The way a company designs its sales compensation program has a greater impact on behavior and results than any sales training, sales management method, or leadership message. Yet most senior executives fail to see the big picture, leading to fundamental misalignments between sales strategy and organizational goals. Featuring insightful interviews with Fortune 1000 C-level executives and real lessons from the field, this essential book reveals the tough questions leaders should be asking about how sales incentives drive the business. It provides valuable thought models and a Revenue Roadmap identifying the four major competency areas and 16 related disciplines that must connect for an organization to grow profitably. Last but not least, readers will find an interactive report card they can use to grade their own compensation plans. Sales compensation powers the performance of the entire business. \"What Your CEO Needs to Know about Sales Compensation\" casts a spotlight on how leaders at all levels can leverage the strategic power of incentives to reach the ultimate goals of their organization.
eBook
Sales Capacity Is the Intersection of Time, Workload, and Talent
Here's a simple explanation of sales time and workload, which touches upon a company's sales talent: * Sales time: the number of annual hours a rep spends on selling * Workload: the number of hours it takes a rep to win a new sale (for new account or new deal sellers) or the number of hours it takes annually to manage an account (for account managers). Workload In sales capacity language, workload comprises the number of hours it takes for the average deal in the pipeline to move through each step of the sales process, the number of deals in the pipeline at each stage that require those hours, conversion rates at each stage of the pipeline, and the average time it takes for a deal to move from the top of the pipeline to close. [...]use your talent inventory to take action by training your team according to a development road map and curriculum, moving people to roles that are a better fit (even if they're in the job market outside your company), and upgrading your talent by hiring the right people with the right fit to be successful. To understand your inventory, you must understand what you're looking for in each type of job Solving Quota Problems: The People Portion When SalesGlobe talks with clients about solving their sales quota problems, we break it clown into three dimensions: sales capacity, market opportunity, and people.
Trade Publication Article
Sales Incentives Are Powerful, So Use Them for Good
When Wells Fargo designed its incentive compensation program, leaders most certainly did not expect its impact: $185 million in fines; the firing of 5,300 employees; the clawback of $75 million in compensation from top former executives; the ouster of the CEO; and a global scandal in which as many as two million customer accounts were opened illegally. Without upside potential, the incentive compensation plan favors the company but leaves it with only average sales talent. Current customer retention will offer the highest ROI, because you’ll have a huge installed base relative to the amount of sales compensation it takes to manage that base. * Penetrated revenue. If your strategy has a heavy focus on new customer growth, you’ll have to pay those higher rates for the short term, and then over the next year or two convert that new customer revenue to account management, which carries a lower cost of sales. If caught in a dilemma where you’re paying new customer-acquisition rates for business the company has had for years, you should restructure your incentive compensation plan and lower your cost of sales. Mark Donnolo is managing partner of SalesGlobe and the author of three books: “What Your CEO Needs...
Trade Publication Article