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July 31, 2010 12:10 AM
Many companies have inserted "balanced selling" mechanisms into their sales incentive plan, with the intent of encouraging their sales forces to sell multiple products—and penalizing them if they don't. Yet these same companies eventually scrap the balanced selling incentive because it doesn't work, is overly complicated, or in some cases, actually reduces sales.
July 31, 2010 12:10 AM
Organizations set aggressive company-level financial targets, which in turn, are allocated to the sales force. The result is challenging national and individual sales goals that less than two-thirds of salespeople can meet. While every company may strive for a sales force that is so strong that most salespeople can achieve a stretch goal, rarely does actual performance meet that expectation.
July 31, 2010 12:10 AM
Sales incentive compensation plans need to be simple enough so salespeople understand exactly how their performance correlates with pay. Overly complex plans that make it difficult for administrators to calculate payouts—and for salespeople to understand their payout structure—will result in wasted money and frustrated, less productive salespeople.
July 31, 2010 12:10 AM
Recent articles have discussed the merits of paying high school students for good marks. Do these incentives work? What are the unintended consequences…and what are the parallels to salespeople?
July 31, 2010 12:10 AM
Incentive programs are designed to motivate salespeople to excel. At a time when many companies are strapped for cash, executives may be pressured into cutting these programs by those who assume the sales force should "suffer with the rest of us," When sales are harder to come by, however, even the best sales representatives need an extra boost to maintain a high level of performance.
July 31, 2010 12:10 AM
While setting fair and effective quotas is easier said than done, it's crucial companies take the time to do it right. Unfair or inaccurate sales quotas can lead to a loss of motivation that saps morale and hurts revenue. Fortunately, there are proven strategies to rely upon.
July 31, 2010 12:15 AM
Incentive defends the motivation industry from recent proposed legislation seeking to severely restrict employee incentive and loyalty programs by launching this week saveemployeemotivation.org and revising its existing Motivation Masters award program.
July 31, 2010 12:14 AM
All too often the incentive program comes across like a bribe or a trick to get the sales team to sell more. But it doesn't work because management doesn't explain all the true benefits for the salesperson in a compelling way.
July 31, 2010 12:14 AM
Deloitte research shows consumers thinking about increasing holiday budgets
July 31, 2010 12:20 AM
InDorse Technologies has announced the release of Call-Home, a network-based file assurance security solution.
July 31, 2010 12:13 AM
If you examine the customer list of most small and mid-size manufacturers, it's common to see only 10 percent of their customers accounting for most of their sales volume. Needless to say, the profitability of these customers becomes a very serious issue.
July 31, 2010 12:12 AM
Premix, Inc. named Jeff Cash corporate director of sales and marketing.
July 31, 2010 12:18 AM
infoGROUP has announced the expansion of its MarketZone online suite of products, now offering information on over 1.5 million Canadian businesses.
July 31, 2010 12:18 AM
Infor has launched CRM i Edition, a new offering providing enhanced CRM capabilities to customers with Infor ERP solutions on IBM System i platforms.
July 31, 2010 12:18 AM
Data analysis tool InfoZoom is entering the North American market this month, and effort supported by a multifaceted product, support, and marketing effort.
July 31, 2010 12:15 AM
X Prize Foundation and BT Global Services release 10-part series that highlights how innovation can solve some of the world's greatest challenges, even during uncertain times.
July 31, 2010 12:18 AM
CRM consulting firm Innoveer Solutions has introduced its new Innoveer Insights monthly blog, targeted toward executives looking to improve the efficiency of CRM-related initiatives.
July 31, 2010 12:20 AM
Innoveer Solutions, a CRM consulting firm for various industries, has assisted Kronos Incorporated, a provider of workforce management solutions, in developing and implementing an enhanced lead management program.
July 31, 2010 12:12 AM
By Scott R. Scheaffer; BookSurge Publishing, 174 pp., $12.99 "The reasons organizations, both big and small, are loaded with incompetent management and seem to continuously make poor business decisions are a result of beliefs we hold that go unquestioned or unrecognized."
July 31, 2010 12:12 AM
New research reveals the very best salespeople have found another group of people with whom to get cozy. No, not new types of customers or even new business partners. Surprisingly, the best salespeople are standouts at wooing their own co-workers.
July 31, 2010 12:18 AM
InsideView has announced enhancements to the integration of its SalesView sales intelligence application with both Oracle CRM On Demand and Siebel CRM applications.
July 31, 2010 12:18 AM
InsideView and NetSuite have partnered to release InsideView for NetSuite, a social intelligence application intended to bring social media to both CRM and ERP.
July 31, 2010 12:18 AM
InstantPresenter, a developer of online meeting and presentation services, has made PayPal available to users for charging admission to live Webinars or access to recorded presentations.
July 31, 2010 12:13 AM
With the economic downturn taking its toll on marketing budgets, running an effective integrated trade show marketing campaign has become more important than ever. The following suggestions can help put you on the right track.
July 31, 2010 12:12 AM
The pathway to profitability for marketers will be determined by the ability to integrate mobile, TV and Internet traffic and advertising data into a holistic, effective, multi-strand fabric that blankets the consumer in a traceable, measurable way.