| Noel Paton Is it all about the money, money, money? |
Hello everyone, my name is Noel Paton and I'm the Head of Sales in Europe, the Middle East and Africa for global software company Varicent.
What we do at Varicent is offer other sales team leaders, like you, solutions for managing and maximising your sales compensation and commission schemes. However, as I join your community here, I'm conscious that the debates are raging about whether money even is the main motivator for the best sales people. For example on that, here is a Sales Tip of the Week I noticed...
What is the best sales incentive? Cash or...
So we can start there, if you like, and try to discover what the best blend of Autonomy, Mastery & Purpose (plus Cash) is?
Take it from me though (and your sales staff), that the last thing they're ever going to do is to work for free, bringing you and all their other company colleagues order after order after order – and without any cash payments for themselves. I wouldn't, and nor would you, no doubt?
We do need to therefore spend some time, somewhere, and somehow, discussing how all this modern selling performance is to be maximised and maintained, so that's why I'm here. And for those of you who would prefer to give it some more serious consideration I've organised an event in London on Tuesday 6th March from 8.30am - 10:30 am, to which you are invited.
You can book your complimentary seat via this page...
http://www.varicent-events.com/
Come along and see what you think. Or feel free to ask me questions here below, directly on LinkedIn, and both before and after the physical event on 6th March.
| I'm Christine Matla |
However, at the time of posting this, I'm physically in South Africa for most of the week (Feb 20 – 24, and with more limited internet access), so let me also introduce my Marketing colleague Christine Matla, who will equally be delighted to help you and answer any questions.
Questions & Comments
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...if you use the "login with LinkedIn" button and just confirm the email you use, these pages and people are now linked back there - for example if you click on Christine or Noel's name, or now mine below this.
Posted by Neil Warren on
How to Optimize Front Line Sales to Grow the Bottom Line
Hello Everyone,
Here is an interesting piece of research recently completed by the Aberdeen Group? Sales Performance Management 2012: How the Best-In-Class Optimize the Front Line to Grow the Bottom Line.
While we are seeing a recovery from the economic downturn, the distribution and pace is not being enjoyed by all companies, industries or geographies. One of the most significant opportunities an organization has to grow their revenue and market share is to hit their quota consistently. They do this by tapping into the human capital of their sales team. Download the research here http://bit.ly/A9BRXG to learn what distinguishes the selling organizations within Best-In-Class companies.
If you would like to learn how business are closing the gap between strategy and sales performance, I invite you to join us for a complimentary seminar taking place Tuesday 6 March in London. You can find the details here http://bit.ly/wapRbI
Christine
Posted by Christine Matla on
Money, Money, Money
Commission and pay structures are something I come across frequently! Well, we have trained 50,000 sales staff!
To be honest I've never met a sales person who is not motivated by money. (Correction....I've never met a SUCCESSFUL sales person who is not motivated by money in some way!)
That's not to say that it's the be all or end all but it's at the top of the list if not right up there.
But so many companies use complex matrices, formulas and DNA linked algorithms that it just puts people off.
So anything that helps with this, cuts through all the red tape and makes it easy to earn money is a winner!
Great stuff
Sean
Posted by Sean McPheat on
But about behavior?
The Aberdeen report ranks as the first 2 goals by the respondents as: 1. Higher Margins and 2. Increased visibility and of the activities of the best in class these were: 1. Drive repeatable behaviour among Sales reps.
Compensation management has a short term role in helping focus field sales staff on short term sales but what it can not do is to either identify which elements of behaviour the sales reps should be repeating and then allow management the visibility to see.
One of my i-snapshot clients I believe has the best answer of the sales teams discretionary commission/bonus, they pay 50% based on achieving sales, 30% on an i-snapshot score which measures field behaviours (who seen, how often, which products) and the last 20% on product knowledge.
Know your products, Do the Right things consistently ensure your LONG TERM SUCCESS while the short term commission looks after this quarter. And I believe these 3 correlate to the findings in the Aberdeen report
Posted by Alan Timothy on
"Scientific" proof versus guess, anecdote, intuition and common-sense...
My apologies to you Noel / Christine / Sean / Alan and any other passing readers for the bouncing back and forth between our LinkedIn Group and the main site here (it's hard work blending the platforms and the people).
But we have some breaking news / discussions going on here...
http://www.linkedin.com/groups/New-Power-Base-Selling-1328087.S.104393505
...that are now referencing this whole area, and I wondered if anyone had some more light they could shed on matters, either from the event above, or your ongoing client and prospect dealings?
Posted by Neil Warren on
Linking up the problems and the people - and introducing McKinsey...
Readers and contributors will see that the problems and discussions continue all over the world, if you look here...
http://www.linkedin.com/groups/Motivating-People-Getting-Beyond-Money-1328087.S.107361103
But then consider that it'll be better if UK-based Modern Selling LinkedIn-equipped people, like us, could also get to grips and start actually discussing and acting on any of it, surely?
Posted by Neil Warren on
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