The Benefits of a Sales Plan

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A sales plan keeps the sales department on track, considering the details of how they must operate to hit their targets and achieve company objectives. Since the sales team is the No. 1 driver of revenue, it is an incredibly important document. "It's extremely important to have a sales plan in place, almost a must," said Leah Adams, director of client success at Point3 Security. "Without this plan, it's almost impossible to get through the year and hit the company's sales goals." It's not uncommon to encounter obstacles along the way, however. A good sales plan accounts for that, Adams added. "Almost always, you'll run into the speed bumps along the way, but with a plan in place, it makes it a whole lot easier to navigate through it all,"…
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Identify Unique Circumstances and Expectations

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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…
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