IBM Sales Performance Management (SPM) for DummiesLuke Farrell
IBM Incentive Compensation Management enables organizations to automate the process of administering, calculating, reporting and analyzing variable-based pay programs. It enhances incentive compensation management by increasing accuracy, reducing costs and improving visibility into sales performance and compensation plans. IBM Incentive Compensation Management is offered on-premise or as a cloud solution to help you get up and running more quickly, and reduce the burden on IT teams.
IBM Incentive Compensation Management provides:
An intuitive, easy-to-use interface with wizards and drag-and-drop features to increase your organization's agility and sales force alignment.
Workflow management and audit tracking to support incentive compensation management (ICM) processes such as communication, inquiries/disputes, splits, adjustments and more.
Reports, dashboards, analytics and modeling for more efficient ICM.
Automated processes, scheduling and task management to streamline system activities and reduce administration costs.
High performance and scalability across multiple plans, participants and transactions (from hundreds to billions).
Collaboration, mobility and unified analytics when accessed through IBM Concert
How To Quickly Attract High Value Clients And Create A Group Coaching ProgramKenny Goodman
In this presentation Kenny Goodman reveals his Client Accelerator Formula so you can attract high value clients and leverage your service delivery so you can create more freedom from your business.
Endeavor Management announces the launch of our Sales Excellence Practice. Partner with us to develop high performance sales professionals and customer focused environments.
Part of your perks for attending the 2014 Summit in Denver was to get first access to the deliverables from the Crowdsourcing session led by Joe Galvin. Read the 12 Best Practices You Can Start Using Today .
Making an Impact With Sales CompensationJohn Kolencik
Sales Compensation is a misunderstood, yet ALWAYS scrutinized facet of sales. Every sales organization has a “commission plan” but is it truly designed to make an impact with both the company and the sales representative? Will it motivate sales success day-to-day, month-to-month, quarter-to-quarter and year-to-year?
IBM Sales Performance Management (SPM) for DummiesLuke Farrell
IBM Incentive Compensation Management enables organizations to automate the process of administering, calculating, reporting and analyzing variable-based pay programs. It enhances incentive compensation management by increasing accuracy, reducing costs and improving visibility into sales performance and compensation plans. IBM Incentive Compensation Management is offered on-premise or as a cloud solution to help you get up and running more quickly, and reduce the burden on IT teams.
IBM Incentive Compensation Management provides:
An intuitive, easy-to-use interface with wizards and drag-and-drop features to increase your organization's agility and sales force alignment.
Workflow management and audit tracking to support incentive compensation management (ICM) processes such as communication, inquiries/disputes, splits, adjustments and more.
Reports, dashboards, analytics and modeling for more efficient ICM.
Automated processes, scheduling and task management to streamline system activities and reduce administration costs.
High performance and scalability across multiple plans, participants and transactions (from hundreds to billions).
Collaboration, mobility and unified analytics when accessed through IBM Concert
How To Quickly Attract High Value Clients And Create A Group Coaching ProgramKenny Goodman
In this presentation Kenny Goodman reveals his Client Accelerator Formula so you can attract high value clients and leverage your service delivery so you can create more freedom from your business.
Endeavor Management announces the launch of our Sales Excellence Practice. Partner with us to develop high performance sales professionals and customer focused environments.
Part of your perks for attending the 2014 Summit in Denver was to get first access to the deliverables from the Crowdsourcing session led by Joe Galvin. Read the 12 Best Practices You Can Start Using Today .
Making an Impact With Sales CompensationJohn Kolencik
Sales Compensation is a misunderstood, yet ALWAYS scrutinized facet of sales. Every sales organization has a “commission plan” but is it truly designed to make an impact with both the company and the sales representative? Will it motivate sales success day-to-day, month-to-month, quarter-to-quarter and year-to-year?
Nurturing Best Practices for Demand GenAsad Haroon
Most companies have a database of leads that have been set aside after initial closing attempts failed to produce the desired results. These leads should not be ignored, as they can prove at least as valuable as fresh leads, and are worth working. The truth is, even the best leads will not produce the results you want if they are not managed and nurtured well.
8 Critical Success Factorsfor Lead GenerationGil.B
Until now, "lead generation" was associated with direct mail campaigns, sometimes supported by a flashy website, sporadic trade show appearances, intense email blasts or stabs at telemarketing, but with very little, if any, special attention brought to bear on the complex sale.
Meanwhile, marketers are constantly reminded that the company needs more sales leads NOW. Unfortunately, that immediacy often means sacrificing quality for sheer quantity.
A flood of ordinary, low-quality leads doesn\'t mean better sales - so why waste your time? The challenge is to adopt lead generation programs that will increase the odds of creating better sales leads, ultimately resulting in long-term, happy and profitable customers.
https://bestonlinemarketingconsultants.com/marketing-mindset-less-selling-more-buying/
Addressing Marketing Mindset is an important issue to any business owner concerned with growth, profitability, and market share.
Leaders who often have essential skills of leader and essential qualities of a leader are great leaders. There are few crucial skills of leadership that are also essential elements of leadership. To get a detailed note visit, https://www.yatharthmarketing.com/essential-skills-of-leadership/
What does the new insurance agency sales manager need to learn. This presentation details the changes that need to be addressed. This presentation was given at the ACT/AUGIE meeting in Tampa FL February 2011 by Steve Anderson. Contact Steve at http://www.steveanderson.com
IN THIS SUMMARY
Sales people play an important role in winning revenue for companies. It is in every organization’s best interest to enhance sales performance, especially during challenging economic times. In Turbulent Times Leadership for Sales Managers, Tom Connellan applies his research on high performance to sales teams. He demonstrates how sales managers can improve their sales representatives’ effectiveness by conveying confidence, demanding accountability, and giving supportive feedback.
SUBSCRIBE TODAY
http://www.bizsum.com/summaries/turbulent-times-leadership-sales-managers
Nurturing Best Practices for Demand GenAsad Haroon
Most companies have a database of leads that have been set aside after initial closing attempts failed to produce the desired results. These leads should not be ignored, as they can prove at least as valuable as fresh leads, and are worth working. The truth is, even the best leads will not produce the results you want if they are not managed and nurtured well.
8 Critical Success Factorsfor Lead GenerationGil.B
Until now, "lead generation" was associated with direct mail campaigns, sometimes supported by a flashy website, sporadic trade show appearances, intense email blasts or stabs at telemarketing, but with very little, if any, special attention brought to bear on the complex sale.
Meanwhile, marketers are constantly reminded that the company needs more sales leads NOW. Unfortunately, that immediacy often means sacrificing quality for sheer quantity.
A flood of ordinary, low-quality leads doesn\'t mean better sales - so why waste your time? The challenge is to adopt lead generation programs that will increase the odds of creating better sales leads, ultimately resulting in long-term, happy and profitable customers.
https://bestonlinemarketingconsultants.com/marketing-mindset-less-selling-more-buying/
Addressing Marketing Mindset is an important issue to any business owner concerned with growth, profitability, and market share.
Leaders who often have essential skills of leader and essential qualities of a leader are great leaders. There are few crucial skills of leadership that are also essential elements of leadership. To get a detailed note visit, https://www.yatharthmarketing.com/essential-skills-of-leadership/
What does the new insurance agency sales manager need to learn. This presentation details the changes that need to be addressed. This presentation was given at the ACT/AUGIE meeting in Tampa FL February 2011 by Steve Anderson. Contact Steve at http://www.steveanderson.com
IN THIS SUMMARY
Sales people play an important role in winning revenue for companies. It is in every organization’s best interest to enhance sales performance, especially during challenging economic times. In Turbulent Times Leadership for Sales Managers, Tom Connellan applies his research on high performance to sales teams. He demonstrates how sales managers can improve their sales representatives’ effectiveness by conveying confidence, demanding accountability, and giving supportive feedback.
SUBSCRIBE TODAY
http://www.bizsum.com/summaries/turbulent-times-leadership-sales-managers
Looking to pump some excitement into your sales team,? Sales incentives, sales contests, increase sales, increase revenue, to your company. Your sales team will love these promotion ideas to help get them excited about winning new accounts.
You're Ready to Start Marketing. Now What? (Series: Digital Marketing Tips fo...Financial Poise
Business owners should certainly have a clear plan for their marketing and should understand which channels are the best fit for their marketing mix. However, there are a few more things that should be done, once it’s time to start marketing. As an example, it’s important to have Google Analytics setup on the company’s website. This will be incredibly beneficial for tracking success. It’s a free tool from Google, but it won’t work until it’s been added to the website’s coding. Upon completion of this episode, the business owner will discover a variety of marketing tips which will increase their online exposure and improve their ability to refine their marketing plan for greater results.
To listen to this webinar on-demand, go to: https://www.financialpoise.com/financial-poise-webinars/youre-ready-to-start-marketing-now-what-2020/
Investing in a sales training program is the amongst best investments to make your business grow exponentially. Here are the 9 valuable tips for sales coaching that you must know.
https://www.yatharthmarketing.com/valuable-tips-for-sales-coaching/
Introducing Network Marketing Lifelines – Everything You Need to Know About Uplines and Downlines. Inside this eBook, you will discover the topics about upline basics, make sure your upline sponsor knows the product, make sure upline has a positive outlook, make sure upline is consistent, make sure upline has a good reputation, downline basics, learn recruiting techniques, teach duplication and the importance of training.
These are a few common mistakes you need to be aware to ensure a flawless sales promotion. You should do everything possible to learn whatever you can about the complexities and nuances of your industry or profession--and not just once, but regularly. By knowing the potential bottom-line of impact of your sales promotion, you’ll have the information to invest the energy necessary to host a strong flawless sales promotion that will deliver boosting results over the time period it covers.
While sales process implementation is not a simple task and may require more of your time now than you'd like to attribute to it, the rewards justify your investment and payback comes much sooner than you would think.
Let us begin with understanding what we mean by sales and marketing alignment. Sales and marketing alignment is when the two departments work together closely to achieve common goals. This can be beneficial for businesses because it can lead to increased sales and higher customer satisfaction.
https://www.yatharthmarketing.com/steps-towards-marketing-and-sales-alignment-and-business-growth/
Understanding The Impact of Sales to Cash Flow & Capital Planning in Micro, S...Nino Mayvi Dian
Sales planning in SME is crucial for determining cash flow & planning. Why? Because sales planning will reveal how much capital will be needed to fulfil the sales revenues.
Effects of Good Procurement Practices for Company Financial ManagementNino Mayvi Dian
Procurement is one the most important function in all kind of businesses, because of its direct effect on company’s revenues and financial performance.
SME (Small & Medium Enterprises) mostly treat procurement function not as important compare to sales, operation, & finance functions (except for trading business), because they think this function could be done simultaneously by operation or finance functions, which this isn’t wrong, but it could be more optimized
Sales cycle steps for conquering your sales targets(published)
How to make effective sales incentive programs?
1. www.esmconsultant.com Page 1
How to make effective sales incentive programs?
By M. Nino Mayvi Dian
Sales incentive is one of the motivation drivers for every sales person I‟ve known. Most people
said that salesman is a job that can have „unlimited‟ income and that income is gained from
sales incentives. The word „unlimited‟ doesn‟t literally mean no limit at all, because every
businesses must earn profits and these incentive programs must not reduce it. But, it has to be
seen „unlimited‟ for your sales persons, but in the same time it will cause no harm to the
business profits.
I‟ve wrote this article to share simple ways of creating efficient, effective, and attractive sales
incentives programs. I‟ve been worked in sales field for more than 13 years, and mostly in big
companies that created multi millions dollar revenues, but I‟ve felt that their sales incentive
programs weren‟t so attractive to me.
Once I‟ve asked to my superior about the incentive programs, why the programs weren‟t made
so incredibly attractive to boost sales person‟s motivation. And, he said that there were
limitations caused by the company‟s rules, which I concluded that the programs were made just
as it is, regardless it is effective or not.
If you‟re a top level sales person in the company, and you have all the freedom and authorities
to make sales incentive programs, you should make incredibly attractive programs. Great and
attractive sales incentive programs don‟t mean that it will cost more to business profits, if you‟re
using the correct principles when you create it.
So, let‟s not forget the 3 basic principles when you‟re making sales incentive programs:
1. It should be ‘unlimited’ and ‘easy to get’,
Sales incentive programs should create „unlimited‟ income and „easy to get‟ perception
for your sales persons. Most sales persons perceive the word „unlimited‟ related to the
amount of money or benefits that they‟ll receive. And, „easy to get‟ means that it doesn‟t
have too many boundaries, constraints, and restrictions to receive incentives. And how
much is perceived to be „unlimited‟? Also, what is „easy to get‟ perceived by your sales
person? Every sales person has their own perception about „unlimited‟ and „easy to get‟.
Then how will you know the appropriate answers about those questions that it will
represent most of your sales person perceptions? Conduct a simple research by group
discussions, sharing moments, and any other ways to seek information about your sales
person perception. Do not use only your point of view when you create the programs,
because in the end you‟re not the person who‟s going to receive the incentives.
Make good questions in your questionnaires. Good questions will result good answers,
which it will reflect most of your sales people perception about „unlimited‟ and „easy to
get‟.
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If your company has multiple sales areas or locations and possibly involve different
cultures and habits, I strongly suggest that you give the authority to make the research
and incentive programs by your local sales leaders. I won‟t recommend generalization of
sales incentive programs for multiple sales areas, otherwise your programs will be
possibly ineffective and the program goals won‟t be achieved. All you have to do is
giving the guidance and monitoring the implementations.
After you have and analyze the research results, all your sales incentive programs must
be based on it and accommodate your sales persons needs.
2. It should not cost on company’s profits,
This second principle is strongly related to the first principle. Because, incentives are
expenses and expenses are reducing profits. Therefore, the second principle is always
give ultimate priority for company‟s profits. What‟s the point to have an incredibly
effective and attractive sales incentive programs, but the programs reduce the
company‟s profits at overall.
The question is how to make an incredibly effective and attractive program, but in the
same time, company‟s profits aren‟t jeopardizing at all.
Terms and conditions are the ways to maintain it. Create terms and conditions for sales
and incentive programs with business goals as the point of views.
Some of you will ask how to elaborate these terms and conditions with business goals?
Will it be still perceived „unlimited‟ and „easy to get‟?
According to my opinion, terms and conditions must support the achievement of
business goals, especially on profit achievement. Programs should be made in such
ways, that when a sales person is going to receive certain amount of incentives, it
should have carefully considered and calculated that it won‟t have unwanted effects to
company‟s profits.
For example, your incentive programs must have direct correlation with company‟s
account receivables. After all, company pays the incentives from customer payments,
doesn‟t it? I think it‟s still perceived „unlimited‟, because you don‟t limit the incentives
amount. You just limit on how your sales persons will receive the incentives, which they‟ll
receive the incentives after customer make payments of their orders.
If your company‟s business is mostly on project basis and progress payments are
applied, then all you have to do is just make adjustments on incentive payments, make it
as progress incentive payments. I believe that your sales persons will not have objection
about it. If your sales person is refused about it, because they think collections aren‟t
their responsibilities, then you can apply additional incentive for assisting customer to
make on time payments, which it will directly encourage your sales person to help
collection team for following up delayed payments. I believe that it‟s still applicable.
Because your company must has daily sales outstanding (DSO) target, and your board
of management won‟t be pleased if sales targets are achieved, but in the same time the
DSO target isn‟t achieved.
There are many ways to make terms and conditions for sales incentive programs, and it
depends on the business models of your company.
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3. It should be understandable and motivate,
This last principle is essential for supporting successfulness of sales incentive programs.
It doesn‟t care how good and attractive of your programs, but your sales persons don‟t
understand about it, which it could make your sales persons don‟t get motivated by it.
This last principle is mostly forgotten by most companies (according to my experiences).
According to my opinion, your sales incentive programs could be one of the attractant to
get best sales talents. Share it briefly to the candidates in the interview process. Let
them know what the company‟s rewards for the best performers. Brief introduction
doesn‟t mean that you only say, “We have incredibly attractive sales incentives for best
performers”, or “Yes, we do have sales incentives for you if you‟re achieving your sales
targets”.
You must make it as one of the SOP when company conducts recruitment process for
sales persons. The explanations or introductions must be standardized, written and
verbally. So, every HR people who conduct the recruitment process must know about
the programs, even not in details.
Don‟t you ever underestimate about the importance of sales incentive programs
introduction for potential sales person candidates. It could be one of your company‟s
weapons to get the best talents. Best talents will be received many attractive offerings
from many companies, and if your company, probably not have high popularity in the
employment market, these sales incentive programs could be made as your company‟s
competitive advantage, and gain significant leverages for your company‟s popularity.
I‟ve been experienced many job interviews, and rarely the recruiters mentioned about
the sales incentive programs. Often, I had to ask first about it. But, their answers were
just so ordinary, such as, “Yes, we have sales incentive programs”, or even worse if the
interviewer was an HR person, he/she answered “Ooh, let me check first with the user”.
Prevent those things happen in your sales person recruitment process. Otherwise, the
candidates will assume that your company isn‟t the best place for them.
That‟s my opinion about the effect of sales incentive programs toward sales person
recruitment process. Then for our existing sales persons, how do we ensure that our
sales persons understand and motivate by our sales incentive programs? The answers
are doing the socialization and periodic evaluation of the program‟s effectiveness.
Socialization, this process could be done by annual sales kick off meeting, regular sales
meeting, morning sales briefing, etc. The important thing is about spending the
manager‟s time to share about the incentive programs. If you share more, I believe that
your sales team will understand it. You should use these sharing moments for motivating
your sales people. Make them know that these programs are made for them, and
intentionally to increase their employee benefits. Drive them to make these incentive
programs as one of their career goals that must be achieved.
Periodic evaluation of the program‟s effectiveness is must be conducted to know how
well the impact of the programs toward actual sales achievement. It might not the only
factor that cause unachieved sales targets, but it could be one of it.
4. www.esmconsultant.com Page 4
How do we know that our incentive programs aren‟t effective? First, your sales
achievement is far below from the target. Yes, it might not cause by incentive programs,
but you should evaluate and discuss it with your sales people. Ask them, is it caused by
unattractive incentives? Or the target tends to be unrealistic to achieve? If most of your
sales people said that your incentives were not attractive enough, then you should
review whether you have used the first principle properly. But, if your sales people said
that the target tends to be unrealistic to achieve, then you should read my previous
article about how to set company‟s sales targets (“6 Steps to Set Company‟s Sales
Targets).
Sales incentive programs should be flexible and adjustable as along as the sales targets will be
achieved with support from these programs. You can modify it at anytime when you‟ve found
that the programs aren‟t effective. You might say that how can we modify it any time while it is
directly related to the budget? Yes, you can do it. Budget only mentioned about numbers, nor
the methods, terms and conditions, etc. Therefore, you can still modify it at anytime as long as
you don‟t modify the numbers.
Ensure that you‟re using sales incentive programs as one of your people management tools.
The best incentive programs should be able to drive sales people motivation significantly, and it
has direct effect on the sales achievement.
Achieving company‟s goals is the ultimate objective, and we, as managers, must use all the
tools and resources that we have to achieve the goals. Sales incentive program is one the tools
to achieve company‟s goals, so there‟s no excuse why your company isn‟t able to make
attractive incentive programs.