There are also elements common to all businesses, while some industries have specific considerations. It’s also necessary to spell out commission structures, and how sales volume or certain customers might bring in higher commissions.
“The only real difference is how sales count,” stated Bailey. “In petroleum-based products like VCMs and PVCs, a few big clients are necessary. Compensation needs to be structured not just in contract value, but in graduated terms: above $1 million, commissions move from 5% to 9%, and so forth. In smaller-volume enterprises, commissions might be front-loaded with higher percentages early, then graduated down. You have to reward what you want.”
Assign goals and responsibilities to each team member to make expectations clear. This is true whether each team member has the same goals, or if goals are individualized to each sales member.
“We meet with each individual to come up with a plan that works for them so that they can reach their goals,” Adams said. “We measure results based on numbers. Each team member has his own plan and how they’re going to get there.”
Support your sales plan with training.
Along the way, some training might be necessary to keep up the momentum.
“What’s important to us is that we’re teaching these individuals to be the best salesperson they can be. We help them do that by constantly training them and giving them knowledge of what’s going on in our industry,” said Adams. “Everything stays on track because each member of the team knows their individual goal, though each person has a number they also know the ultimate goal is for the entire team to hit.”
Adams says an effective CRM keeps things organized, and helps delegate tasks and responsibilities on a schedule that uses the company’s lead information.