But the increase in productivity is the most powerful benefit. It is not at all unusual to see productivity gains of 30% in the first year sales representatives are given a choice of compensation plans.
There are six heuristics that are recognized as being widely used in our daily lives, and a lot of them are relevant here…
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To help determine a company's true profitability, here are the first three questions we ask brokers:
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While many companies focus on increasing profit, and therefore shareholder value, relatively few focus the same effort on improving their multiple. So, what drives this multiple?
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Explain why changes are needed. When reps understand the issues and are consulted, they are more likely to buy into the solution.
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Here is the process we use, which typically results in a 98% retention rate, a 30% increase in sales in the following year, and significantly enhanced profitability.
View each sales associate as if he or she were an individual company. (Your firm as a whole is then like a big conglomerate.)
In our work with hundreds of sales organizations, we see many making the same mistakes with regard to their top producers. To keep from losing your best sales reps, here's how to avoid these common pitfalls.
One of the issues we discuss often with managers is why offering a choice of compensation plans is such a smart strategic move for the business, especially in this market. Here is what we tell them...
CM Global Partner's CEO, David J. Cocks, has recently been interviewed by David Massover in an Ebook titled Your Front Line Sales Manager - Glorified Sales Rep or Driver of Growth.
