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DPS asked leading industry speaker, consultant and author Michael Marks to expand upon topics covered in "What's Your Plan? Smart Salesforce Compensation In Wholesale Distribution". Check out the previously recorded webcasts from the third and fourth quarters of 2006.
“Lean Distribution: Creating Sales Compensation Effectiveness”
Recorded November 16, 2006
Featuring Leading Industry Consultant & Author,
Michael Marks, Indian River Consulting Group
Click here to access the recorded session
For our fourth quarter webcast, we asked Michael Marks to expand upon topics he discussed in our September presentation, “Lean Distribution: Creating Sales Force Effectiveness”.
You’ve probably weighed in on the debate in the past: Is it better to pay sales reps primarily through commissions, “to keep them hungry,” or pay a large salary, “so they aren’t fixated on the short-term?” Do you increase market share by paying a commission where a sales rep receives “a piece” of all the sales he or she makes, or with a bonus where nothing is paid until “an acceptable” level of performance is achieved?
Guess what? It doesn’t matter!
In the past, this debate has raged without concrete data to help determine the answer. Now, the surprising research results are detailed in “What’s Your Plan?,” authored by Mike Marks and Mike Emerson of IRCG, and published by the Distribution Research and Education Foundation of the National Association of Wholesaler-Distributors. The authors surveyed 584 companies on compensation practices and performed in-depth interviews with a sample of the market share gainers and market share losers. Findings were consistent throughout the cross-industry study, independent of firm size, line of trade, years in business, or any other factor.
The #1 Finding: There is absolutely no relationship whatsoever between a company’s sales incentive plan structure and its gain or loss in market share.
Using questions from the webcast attendees as a basis, Mike shared the highlights of the research findings. Topics discussed include:
- The key elements that separate share gainers from share losers
- The role of an effective sales management process
- Best practices for developing and implementing effective sales incentive structures
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"Lean Distribution: Creating Sales Force Effectiveness"
Recorded September 13, 2006
Featuring Leading Industry Consultant & Author,
Michael Marks, Indian River Consulting Group
Click here to access the recorded session
“The grossly inefficient processes of the field sales force are blindingly obvious within the enterprise.” Mike Marks, 2006
If you could give your sales force a "Purple Pill" that would boost their effectiveness by 25% or more, would you do it? Well, there's no "Purple Pill" to increase profit, revenue or market share. However, there is a Sales Effectiveness Process (SEP) proven to continuously improve sales force performance through focus, discipline and a platform of accountability.
A SEP is not a Customer Relationship Management (CRM) system. CRM concentrates on the effectiveness of interactions with the customer, not the effectiveness of the sales force. It is not a Sales Force Automation (SFA) system. SFA deals with improving the efficiency of the sales force: performing administrative duties more efficiently.
A SEP improves the effectiveness of the sales force; doing the right things rather than just doing things right. It is a set of best sales practices with a small amount of automation thrown in. Join Mike Marks, a leading proponent of SEP, to learn more about the concept based on "Managing activities and measuring results."
Attendees will learn:
How to create a realistic plan.
What to manage.
How to provide feedback.
The role of the monthly territory review.
J. Michael Marks is Principal and Managing Partner of Indian River Consulting Group, an experience-driven firm that focuses on channel design, marketing strategies, supply chain management, compensation plans, and practical application of technology. Marks founded IRCG in 1986 and is well known throughout the wholesale-distribution industry as both a speaker and consultant. Marks, a Fellow of NAW's Distribution and Research Education Foundation, is co-author of “What’s Your Plan? Smart Salesforce Compensation in Wholesale Distribution” and “Working at Cross-Purposes: How Distributors and Manufacturers Can Manage Conflict Successfully”. For more information about Mike Marks, visit http://www.ircg.com/ or call 321-956-8617.
Copyright © Indian River Consulting Group LLC. All Rights Reserved.
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