Maximizing Your Inside Sales Commission Plan<br />5 Tips to put more Money in your Pocket.<br />10/4/2011<br />1<br />By: Greg Bush<br />
Tip #1- Begin at the End.<br /><ul><li>Set goals based on your desires, not simply your quota!
How much money do you want to make at the end of the month?
Why do you want/need this money? Are you planning a trip? Paying off debt? Saving for a new car?
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.</li></li></ul><li>Tip#2 – Focus on Actions, not Results.<br /><ul><li>While installs ultimately pay the bills, they are for the most part out of your control.
You control the number of customer contacts you make/take daily.
You control your phone presentation.</li></li></ul><li>Tip# 3 – Know your Stats.<br /><ul><li>How much money is each customer contact worth?
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.
Divide total commission by total contacts and you will know how much each contact is worth.
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)
How can you improve the value of a customer contact?
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.</li></li></ul><li>Tip #4 – Track Your Progress<br /><ul><li>Monitor the value of each contact (see tip 3). Is it going up or down?
Review calls with your supervisor and listen for ways you can close more. Review calls where you presented, but did not close.
How much are you on track to earn?</li></li></ul><li>Tip #5 – Work the System.<br /><ul><li> How many contacts should you make everyday to reach your goal?
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.
If you need ways to make more contacts just ask, we have plenty of leads to call.