Maximizing your commission

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5 tips to improve your commission earnings in Inside Sales. Some of the material is industry specific, but the ideas a general enough in nature to be useful.

5 tips to improve your commission earnings in Inside Sales. Some of the material is industry specific, but the ideas a general enough in nature to be useful.

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  • 1. Maximizing Your Inside Sales Commission Plan
    5 Tips to put more Money in your Pocket.
    10/4/2011
    1
    By: Greg Bush
  • 2. Tip #1- Begin at the End.
    • Set goals based on your desires, not simply your quota!
    • 3. How much money do you want to make at the end of the month?
    • 4. Why do you want/need this money? Are you planning a trip? Paying off debt? Saving for a new car?
    • 5. Make your financial goals realistic. If your saving for a big goal (i.e. new car) its probably not possible to earn enough commission in one month. In that case make your one month goal to pay for 10% of that car.
  • Tip#2 – Focus on Actions, not Results.
    • While installs ultimately pay the bills, they are for the most part out of your control.
    • 6. You can’t control buyer’s remorse.
    • 7. You can’t control if the field rep makes the sale.
    • 8. You can’t control if the customer goes with another company.
    • 9. You can’t control if our equipment does not meet needs.
    • 10. What can you control?
    • 11. You control the number of customer contacts you make/take daily.
    • 12. You control your phone presentation.
  • Tip# 3 – Know your Stats.
    • How much money is each customer contact worth?
    • 13. Every dial you make or inbound call you take is worth something. Look at your last couple of months total contacts (dials + Inbound Calls), then add up your total commission earned during that time.
    • 14. Divide total commission by total contacts and you will know how much each contact is worth.
    • 15. Example: you earned a total of $3,000 during the last two months and you made a total of 6,000 contacts, then each contact is worth $0.50 (3,000/6,000 = .50)
    • 16. How can you improve the value of a customer contact?
    • 17. Improve your close rate. Work on your presentation. Be sure to ask for the sale and overcome objections whenever possible. Track and confirm your sales/appts to make sure they install.
  • Tip #4 – Track Your Progress
    • Monitor the value of each contact (see tip 3). Is it going up or down?
    • 18. Review calls with your supervisor and listen for ways you can close more. Review calls where you presented, but did not close.
    • 19. Did you ask for the sale?
    • 20. Did you address objections?
    • 21. Did you sell to the customers needs?
    • 22. You probably did all those things (you can’t close everyone), but it never hurts to review and look for improvement areas.
    • 23. Track your scheduled installs/Appts.
    • 24. Confirm jobs.
    • 25. Make sure appointments are being ran.
    • 26. Break your month down.
    • 27. Track your progress daily and weekly.
    • 28. Are you making enough contacts?
    • 29. What does your sales pipeline look like?
    • 30. How much are you on track to earn?
  • Tip #5 – Work the System.
    • How many contacts should you make everyday to reach your goal?
    • 31. Stay busy- If I told you I would give you $1 for every call you made, then most of you would probably short circuit our phone system. Well, some of you may already be at $1 per call or can make a few simple changes to get there.
    • 32. If you need ways to make more contacts just ask, we have plenty of leads to call.
    • 33. Take an active role in your progress.
    • 34. Don’t wait for your supervisor to schedule a call review, bring a call to them that you would like to hear.
    • 35. Share your ideas with your peers- We can all learn by sharing what works.
    • 36. Seek out training- there are many good books on phone sales. Read a variety, all it takes is one good idea to make you more money.