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Discover effective incentive compensation strategies for driving profitable sales. Three case study plans are presented, and best practice design considerations.
WebcastPreparing the Sales Plan: Best Practice Approaches from High Performing Sales Forces
October 29, 2014
It’s planning season for sales organizations – a whirlwind of activity that includes reviewing performance, assessing forecasts, assigning growth targets, building budgets, aligning territories, and allocating quotas. Unfortunately, many sales plans don’t produce what the sales organization most needs: insight into what changes are required to meet performance expectation, and to align with company strategy. This webcast details how the best sales plans provide insight and alignment, and offers best practice guidance on sales planning practices from leading sales organizations.
New research from Aberdeen Group shows that the leading goal among today’s sales leaders is not merely to sell more product, but to do so profitably. This represents a significant shift from traditional sales initiatives, which focused purely on gross revenue. Join Aberdeen’s Peter Ostrow and Ron Baden, Vice President of Services from Host Analytics, in this webinar to learn how the most successful Sales Operations teams leverage big data, predictive analytics, and intelligent forecasting to turn their line of business into…a real business.
Topics addressed include:
- Eliminating inefficient planning and forecasting processes
- Reducing planning cycle times
- Providing an integrated view to key stakeholders, including executive leadership and Finance
- Leveraging technology to improve planning speed and quality
- Applying analytics to generate management insight
WebcastEscaping the Horrors of Sales Compensation
October 29, 2014
There are few things more critical to a company’s top and bottom line results than sales compensation. Businesses can't survive without sales, and sales compensation is the primary vehicle to inspire motivation and track and reward sales success.
Yet even as businesses turn to enterprise systems to streamline key processes and achieve better results, when it comes to managing variable compensation, most continue to rely heavily on time-consuming manual-based spreadsheets. Not only is creating and maintaining sales compensation plans time-consuming in spreadsheets, but paying your reps on-time and accurately can be exponentially more stressful.
In this webinar you will learn:
- How to optimize a sales incentive compensation plan, avoiding the pitfalls and navigating the trade-offs.
- How to attain the highest levels of employee motivation.
- How to avoid risky accelerators that can wipe out your profits.
WebcastBuilding a Smart Sales Plan
October 09, 2014
A recent Aberdeen report on sales performance effectiveness reveals that there’s a large gap between best-in class firms and the rest of the pack when it comes to meeting quotas. While 84% of the best-in-class companies met quota, only 55% of average and 15% of laggard companies reported hitting their targets. This significant gap underscores the shortcomings in the typical sales planning process. While best in class sales organizations execute flawlessly on their plans, many others struggle to meet their targets, delivering consistently underwhelming results.
So what’s going wrong?
Effective sales plans rely on alignment across a wide range of parameters: segmentation strategy, territory and quota assignments, channel management, performance targets, compensation strategies, revenue and expense forecasts, deal execution, etc. This alignment is not an easy task, thanks to the multiple inputs and decision points, from corporate levels all the way down to the account level.
In this webinar, we’ll discuss how to effectively integrate full data sets on rep coverage, quota, accounts, product mix, territories, overlays, and channel partners to create data centric plans.
Attend this session and learn from industry experts how to:
- Spot and adapt to sales disruptions such as attrition, churn, and coverage gaps early in your sales cycles
- Combine disparate data streams in real-time to create and operationalize data-driven sales plans
- Improve sales productivity and effectiveness by aligning all the moving parts of your process
- Leverage on-the-ground expertise of your territory managers and collaboratively align top-down and bottoms-up inputs
WebcastHow to Avoid the 5 Most Common Mistakes with Sales Incentive Systems
October 08, 2014
By now, most companies have put in place an Incentive Compensation Management system to automate incentive calculations. Discover the 5 most common things that are holding back these companies from truly realizing the promise of Sales Performance Management systems. From poorly designed dashboards to ineffective use of data, most firms can be doing much more to get a better ROI out of their sales incentive systems - and more importantly get a leg up on their competition.
- Examples of common practices of IBM's most successful clients
- Suggested tactics and strategies for your firm
- Where is SPM going, and how can you be ready for it?
WebcastRefocusing Sales Enablement Investments – On Sales Enablement
October 06, 2014
Sales enablement solutions – even successfully implemented ones – don’t always improve salesperson effectiveness. Instead, they improve Marketing’s ability to reliably deliver content into the hands of prospects and customers. Along the way, actual selling activity often gets lost.
Today’s savvy buyers have heightened expectations of your reps, often giving them just minutes to demonstrate value. Yet nearly 1/3 of enterprise sales reps – even those with extensive market and product training – arrive at sales calls unprepared to apply the information and context needed to drive buying decisions.
So how do firms properly enable that, and successfully apply their investments to actually influence reps’ behavior? This webinar helps sales enablement pros move beyond content management processes and share new approaches for knowledge reinforcement and behavior changes that are proven to enhance sales performance.
WebcastCompensating Sales Managers
October 02, 2014
Management spends plenty of effort designing salesperson incentive compensation plans, but the first-line sales manager pay plan is often an afterthought. This webcast reviews essential plan design principles important for first line sales managers; explores common plan design pitfalls; and takes a close look at three commonly-used manager pay plans.
WebcastDriving Sales Profitability through Incentive Compensation
September 25, 2014
Sales organizations must do more than simply grow the top line – they must grow revenue profitably. And most firms empower salespeople with enough decision-making authority to impact profitability. Decisions that involve pricing, product mix, solution development, and customer expense management can all profoundly affect profits as well as sales.
How should sales organizations manage performance across two opposing objectives – growing top line, while managing the bottom line? Incentive compensation represents an essential component of any firm’s approach to appropriately directing salespeople to profitably grow revenue. This webcast outlines effective incentive compensation strategies for driving profitable sales.
WebcastSocial Selling: From Cold to Close
September 02, 2014
Social selling - a trendy, yet ill-defined phrase. How many business-to-business salespeople are actually using social media to sell – and how? In this session we introduce a framework for leveraging social media to improve sales productivity, and share examples of sales organizations who have unlocked the power of social for their direct sales force. This presentation address the following questions:
- What is “social selling?”
- How do we move social selling beyond networking to cultivate and expand key relationships?
- How can I improve sales productivity by improving the efficiency and effectiveness of reps’ social media skills?
- How can our reps use social to “listen” more effectively to their buyers?
- How do we ensure that our reps online presences aligns to the offline presence we strive for?
WebcastThree Best Practices for Modernizing Lead-to-Money Processes
August 22, 2014
Smart devices, cloud platforms, and mobile applications promise productivity increases for sales organizations. By 2020, 450 billion business transactions will take place on the Internet daily, and already mobile device sales are out-pacing those of PCs. But some sales organizations may find themselves scrambling to keep pace with these changes, while transitioning away from spreadsheet and paper-based processes.
This webcast presents three best-practice approaches for modernizing sales processes essential for converting leads to revenue.
Specific topics addressed include:
- How to shorten the sales cycle through electronic workflows and approval processes
- How technology can help you reduce errors in contract, product selection and pricing
- How to increase productivity
- How to eliminate paper, hassles and wasted time
WebcastAligning Strategy and Sales
August 20, 2014
The most crucial connection in an organization seeking to grow is between sales and strategy. US companies, for example, spend more than 3x on sales efforts than they spend on all media advertising and 20x more than the total spent on digital marketing. Yet, research indicates that, on average, companies deliver only about 50-60% of the financial performance their strategies promise. That’s a lot of wasted money and managerial effort.
In this webinar, Frank Cespedes, author of Aligning Strategy and Sales: The Choices, Systems, and Behaviors that Drive Effective Selling (Harvard Business Review Press, 2014), can help your firm improve performance. He focuses on what both strategists and sales leaders must do to close the gap, provide practical advice about pricing and sales productivity, and leave you with diagnostics that you can use with your team after the webinar.
Frank Cespedes teaches at Harvard Business School. He has run a business, served on Boards for start-ups and corporations, and consulted to many companies around the world. He is the author of five books as well as articles in Harvard Business Review, Wall Street Journal, California Management Review, and other publications.