Sales Strategy Execution, Metrics and Rewards
Executing your sales strategy requires an interaction of compensation, performance management and best-in-class quota setting. World-class companies have demonstrated that compensation is just one of the tools necessary to successfully execute a sales strategy.
Difficulties occur when execution is not aligned with the goals of the sales force, and compensation, quota setting and effective measurement of the sales force are at odds with the strategy.
Sibson can help companies by focusing on several key elements:
- Ongoing measurement: Use effective tools to measure the ongoing effectiveness of the plan to allow for mid-stream course corrections
- Sales Compensation: Develop plans that are simple and communicate to sales representatives what their day-to-day focus should be
- Setting the right quotas: Set appropriate targets to provide the highest level of focus and motivation for your sales force
Sales Compensation Assessment and Design Specialty Practice
Effective compensation assessment is driven by the organization’s decisions on strategy, market coverage and job roles. Through our work, we collect pay and performance data, as well as all essential incentive components that impact performance, to evaluate sales compensation plans.
Key Issues that Companies Face
Sibson Consulting can help you build strategies to solve the following issues:
- How to properly differentiate peak performers from the average performers
- Simplifying plans to improve line-of-sight to sales events
- Striking the balance between the pay program and supplemental incentives
- How to control the cost of sales under various performance scenarios while managing the costs of multiple jobs in the sales process
- Creating a pay for performance culture
- Implementing a market-based approach to setting and allocating quotas
- Understanding why the sales organization is making money when the company is not
- How to control policies, deals and costs
- How to track and manage a plan that will work
- Giving sales reps visibility into the administration and payment of compensation plans
Sales Compensation and Strategy Benchmark Specialty Practice
Industry and market intelligence are critical to supplementing the sales process, organizational structure and compensation plan design. As such, Sibson conducts industry-specific research and surveys, holds forums, and monitors databases that cover pertinent sales, marketing and compensation effectiveness related issues.