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As per recent reports, only 17.6% of salespersons rated their job satisfaction as outstanding.
While this is alarming, this can be fixed with some age-old tactics and their modern adaptations.
Building a strong incentive strategy for sales teams is a consistent challenge for the
management. The task lies in ensuring that the company’s goals translate into sales objectives
and eventually reflect in the commission strategies designed for you.
It all started with the Principal-Agent theory that emerged in the 1970s. Agents in this case are
sales reps and the principal is the company. More often than not the interests of a principal and
an agent are not aligned – the principal wants to earn more revenue while the agent is simply
looking to make more money. This results in mismatched incentives and the solution here is to
align their interests. The company needs to allow sales reps to earn a percentage of the profits
on the products or services they sell – in other words, earn commissions for the sales they
make.
Top 8 ways to increase your commissionable sales -
1. Your commissions matter -
Yes, giving priority to your commissions is the
first rule of the game. Most salespeople
overlook this part of their compensation
package for a variety of reasons, including a
lack of understanding of the commission
structure, a lack of sales drive, and so on. This
mental impediment must be overcome.
2. Choose the right product and the
right time to sell - The sales
commission plans vary
depending on the roles of your
team members. For example, an
incentive plan for a branch
manager would be different from
that of an account manager.
Chart out the different roles in
your sales team and find out
what are the responsibilities
assigned to each of these roles.
3. Define your target market -
Before you go out and start approaching
your prospects – clearly outline the
persona of your customer base. Do
thorough research to identify specific
needs and characteristics of your target
audience and position your products or
services in a manner that would best suit
them.
To Know The All Ways To Increase Your Commissionable Sales :-
https://blog.unomok.com/how-you-can-accelerate-your-commissionable-sales/

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Increasing Salesperson Job Satisfaction Through Proper Incentive Strategies

  • 1.
  • 2. As per recent reports, only 17.6% of salespersons rated their job satisfaction as outstanding. While this is alarming, this can be fixed with some age-old tactics and their modern adaptations. Building a strong incentive strategy for sales teams is a consistent challenge for the management. The task lies in ensuring that the company’s goals translate into sales objectives and eventually reflect in the commission strategies designed for you.
  • 3. It all started with the Principal-Agent theory that emerged in the 1970s. Agents in this case are sales reps and the principal is the company. More often than not the interests of a principal and an agent are not aligned – the principal wants to earn more revenue while the agent is simply looking to make more money. This results in mismatched incentives and the solution here is to align their interests. The company needs to allow sales reps to earn a percentage of the profits on the products or services they sell – in other words, earn commissions for the sales they make. Top 8 ways to increase your commissionable sales -
  • 4. 1. Your commissions matter - Yes, giving priority to your commissions is the first rule of the game. Most salespeople overlook this part of their compensation package for a variety of reasons, including a lack of understanding of the commission structure, a lack of sales drive, and so on. This mental impediment must be overcome.
  • 5. 2. Choose the right product and the right time to sell - The sales commission plans vary depending on the roles of your team members. For example, an incentive plan for a branch manager would be different from that of an account manager. Chart out the different roles in your sales team and find out what are the responsibilities assigned to each of these roles.
  • 6. 3. Define your target market - Before you go out and start approaching your prospects – clearly outline the persona of your customer base. Do thorough research to identify specific needs and characteristics of your target audience and position your products or services in a manner that would best suit them.
  • 7. To Know The All Ways To Increase Your Commissionable Sales :- https://blog.unomok.com/how-you-can-accelerate-your-commissionable-sales/