Using the 100 percent commission model may seem like an easy way to save money, but the numerous hidden costs associated with sales rep turnover will actually end up costing you more money in the long run. In addition to a fiscal loss, there are various intangible opportunity costs that may negatively impact your company culture and performance. Before implementing the 100 percent commission model, learn what these costs are and how they will affect your company.
By Steven A. Rosen
Last week I had a monthly coaching session with one of the top sales managers I work with. Tony started with a new company in January and had made it a point to work in the field with each of his reps twice in the first two months. Tony’s team is made up of the company’s “top” sales reps that have been promoted to launch a new product.
He had worked with Sally twice and was very perplexed and desperately looking for insights on how to coach her. [...Continue Reading...]
By Bob Croston (RAIN SELLING Blog)
Talking about the differences between men and women is a tricky thing. But we need to deal with tricky things if we want to be good sales managers.
The recently published book, Top Dog: The Science of Winning and Losing, by Po Bronson and Ashley Merryman, has a nugget of knowledge every sales manager should know. As the title suggests, it’s about the science behind why some people win and others struggle.
This is not a sales book, but some of its findings relate to sales and have implications for how to manage a sales team. (Note: for detailed, sales-specific research on what makes a sales winner, take a look at RAIN Group’s recent research report, What Sales Winners Do Differently.)
While Bronson and Merryman’s book covers a variety of topics, it’s what they have to say on risk and its implications for sales management that deserves attention, especially the surprising results when comparing men and women. While the authors struggled to accept these findings at first, the science pointed to differences too large to ignore.
According to the research, women are far better at assessing odds than men. However, Bronson and Merryman also found that focusing on the odds often means increased avoidance of risk.
Risk taking is important in sales. Let’s say you have a client who is about to make a bad decision. Do you let them do it, or do you help them see that they might be walking into a trap? If you decide to help them see the pitfalls that lie ahead (and you should), you may create a tense discussion. This is risky.
You may need to spend days or weeks preparing for a major presentation and then fly a team out to the prospect’s site to give the full court press on winning a deal. This is expensive. And risky. You might lose!
You may ignore a bunch of smaller opportunities because you want to win a huge one. Risky!
Sales leaders are often under a lot of pressure and time constraints, which can result in quick decisions and short-term fixes. Keep reading for 3 leadership strategies that will prevent these mishaps and improve sales performance.
What other strategies could help sales leaders improve sales performance?
Fast Company by Courtney Seiter
Great communication skills are not just reserved for journalists or writers. Having these skills can help in every day conversations at work and with networking too. Keep reading for 6 communication tricks from professional interviewers to help make you the best conversationalist in the room.
What are you favorite conversation starters?
LinkedIn has proven to be a valuable networking and branding tool. Make sure you’re taking advantage of all LinkedIn has to offer with these 22 often-overlooked and little-known secrets to showcasing your personal brand.
What are your LinkedIn tips for success?
Dave Stein’s ES Research Group has been guiding companies through sales training provider evaluation and selection processes since 2005.