Maximizing your commission


Published on

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.

Published in: Business
  • Be the first to comment

  • Be the first to like this

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide

Maximizing your commission

  1. 1. 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 />
  2. 2. Tip #1- Begin at the End.<br /><ul><li>Set goals based on your desires, not simply your quota!
  3. 3. How much money do you want to make at the end of the month?
  4. 4. Why do you want/need this money? Are you planning a trip? Paying off debt? Saving for a new car?
  5. 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.</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.
  6. 6. You can’t control buyer’s remorse.
  7. 7. You can’t control if the field rep makes the sale.
  8. 8. You can’t control if the customer goes with another company.
  9. 9. You can’t control if our equipment does not meet needs.
  10. 10. What can you control?
  11. 11. You control the number of customer contacts you make/take daily.
  12. 12. 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?
  13. 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. 14. Divide total commission by total contacts and you will know how much each contact is worth.
  15. 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. 16. How can you improve the value of a customer contact?
  17. 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.</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?
  18. 18. Review calls with your supervisor and listen for ways you can close more. Review calls where you presented, but did not close.
  19. 19. Did you ask for the sale?
  20. 20. Did you address objections?
  21. 21. Did you sell to the customers needs?
  22. 22. You probably did all those things (you can’t close everyone), but it never hurts to review and look for improvement areas.
  23. 23. Track your scheduled installs/Appts.
  24. 24. Confirm jobs.
  25. 25. Make sure appointments are being ran.
  26. 26. Break your month down.
  27. 27. Track your progress daily and weekly.
  28. 28. Are you making enough contacts?
  29. 29. What does your sales pipeline look like?
  30. 30. 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?
  31. 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. 32. If you need ways to make more contacts just ask, we have plenty of leads to call.
  33. 33. Take an active role in your progress.
  34. 34. Don’t wait for your supervisor to schedule a call review, bring a call to them that you would like to hear.
  35. 35. Share your ideas with your peers- We can all learn by sharing what works.
  36. 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.</li>