Turbocharge Your Sales Process

"People behave according to their compensation model."
Jeff White, Managing Director, Optivity Group  

A successful sales process can be condensed into three major topics:

Market Approach   //   Compensation   //   Measurement

Market Approach - Getting To The Best Buyers

To be successful and grow your business there must be consistent efforts in marketing and sales processes. Sales is a process and should be well defined and continuously improved.

Most businesses experience the Pareto Principle of the "80-20 Rule", being that 80% of sales will come from 20% of your clients. To support your marketing and sales these 6 Key Tactics require defined processes and regular effort.

  • Advertising - Budget aligned with competition's ad spend
  • Direct Mail - Whether your business is B2C or B2B, a direct mail program to key clients and prospects can trump email mail marketing
  • Corporate Literature - Develop engaging brochures, sales sheets and promotion pieces
  • Personal Contact - Scheduled follow up calls from salespeople or customer service representative creates the personal touch
  • Market Education - Demonstrate thought leadership at trade shows, speaking arrangements and writing articles for submission to trade publications
  • Internet - Your website should have sufficient content to educate your buyers and prospects, develop effective email campaigns

Compensation - Optimize Your Salespeople's Behaviors

"People behave according to their compensation model."

Motivate your sales team with incentives that encourage them to take the correct actions daily to achieve sales goals. 

  • ​Establish a minimum salary that creates a financial stretch
  • Variable commission based on most profitable products or services
  • Caps on commissions limit selling, avoid upside caps
  • Tiered bonus monthly and quarterly to reward short and long term efforts, encourage 
  • Annual bonus for sales manager, director and/or VP
  • ​Set realistic growth goals, measure, tune, improve
  • Encourage honest sales tactics and good client relationships
  • Remove under-performers and team members that utilize unethical sales tactics 

Measurement - You Can Manage What You Measure!

"You can't manage what you don't measure" is an old management adage. It's as true today as it was nearly a century ago. To properly manage your business there must be Key Performance Indicators (KPI) identified, measured and reported. KPIs can measure sales effectiveness, inventory management, manufacturing processes, and many other business functions.

When starting out with KPI measurements, it's important to limit to no more than 5 KPIs that are core to each functional area or department. Some of the steps to KPI measurement and reporting include:

  • Define KPIs to measure in a functional area or department
  • Implement a Sales Pipeline Management Tool
  • Set reporting periods to weekly and monthly as appropriate
  • Summarize data on a reporting dashboard for leadership review
  • Review the KPI Dashboard with your Sales Teams
  • Celebrate successes with the team!
  • Identify opportunities for improvement

Learn More - Turbocharge Your Sales!