follow-up

Designing Sales Compensation Plans That Drive Performance

By soshaughnessey

The success of any sales-driven organization in the business-to-business (B2B) space hinges on the sales team’s compensation plan. Over my four decades in B2B sales, I’ve observed that nothing influences the performance of sales personnel more directly than the design and implementation of their compensation plans. Compensation is not merely about rewarding sales achievements but crafting a strategy aligning individual salespeople’s goals with the company’s broader objectives.

A well-structured compensation plan acts as both a motivator and a guide. It compels sales teams not only to meet but exceed their targets, fostering an environment where continuous improvement is not just encouraged but becomes a natural byproduct of the system. For small business CEOs, understanding this dynamic is critical for sustaining and driving growth. Sales compensation is more than just a cost; it’s an investment in the company’s future.

In any sales environment, whether the market is brimming with potential or tightly contested, the compensation plan must be a living document that evolves in response to market conditions, company goals, and team performance. With this adaptability, companies can avoid stagnation or regression in their market positions. As businesses strive to scale and adapt, constructing a compensation plan that genuinely drives the right behaviors becomes all the more pertinent.

To delve deeper into this vital subject, CEOs should consider the immediate impacts of their compensation strategies and their long-term implications on sales culture and employee retention. For those ready to explore the intricacies of effective sales compensation and ensure their strategies are well-suited to their specific business contexts, I am here to lend my expertise. With extensive experience tailoring compensation plans to enhance sales productivity and company profitability, I invite you to reach out for further guidance on crafting a plan that meets and exceeds your strategic goals. You can set a time to talk to me using my link above Book Appointment With Sean.

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Two Tall Guys Talking Sales Podcast – From Missed Quotas to Major Wins: Turning Sales Pitfalls into Triumphs – E84

By soshaughnessey

In this insightful episode, hosts Kevin Lawson and Sean O’Shaughnessey discuss common pitfalls in sales management and strategies for maintaining customer relationships through effective tools like CRM systems. If you’ve ever missed a deal due to a forgotten follow-up or struggled with customer engagement, this episode is packed with practical advice to enhance your sales processes and hit your targets consistently.

Key Topics Discussed

The Importance of Follow-up: How missing follow-ups can impact sales and solutions to prevent these issues.
Effective Use of CRM Systems: Exploring how CRM systems can streamline operations and ensure nothing slips through the cracks.
Project Management and Deadline Adherence: Discussing the critical role of timely project delivery in sales success.
Real-world Sales Challenges: Analyzing scenarios from retail and construction to understand complex sales dynamics.
Building Lasting Customer Relationships: Strategies for staying top of mind without being overtly sales-driven.
Tools vs. Human Effort in Sales: Balancing technology and personal effort in managing customer relationships.

Key Quotes

Kevin Lawson: “There’s nobody else accountable for that but me and my brain. I’ve missed a quarterly quota because I wasn’t diligent and thoughtful enough about my follow-up.”

Sean O’Shaughnessey: “We need to just take care of our customers. Embracing the value of a CRM system is crucial because today, most of us don’t have someone taking care of all the details for us.”

Kevin Lawson: “If you’re not asking your clients, ‘When do you need this by?’ or ‘How much do you need at what time?’ then you’re not really managing your sales effectively.”

Summary

Whether you’re a seasoned sales professional or just starting out, this episode of “Two Tall Guys Talking Sales” is a treasure trove of knowledge. Kevin and Sean tackle the realities of sales management, from the undeniable benefits of using CRM systems to ensuring punctuality in project deadlines. They share personal anecdotes and real-world examples that highlight common mistakes and pitfalls and offer actionable solutions to enhance your sales strategy. Tune in to learn how to leverage technology to boost your sales performance and build stronger, lasting customer relationships. Don’t miss out on transforming your sales approach—listen to this episode today!

The Follow-Up Formula: Driving Sales Success in the New Year – Video 7 of the New Year Motivation Series

By soshaughnessey

As we venture into the New Year, the key to propelling your sales, whether you’re a seasoned sales manager, a striving CEO of a small company, or an enthusiastic salesperson, lies in one critical skill: effective follow-up. My video series aims to arm you with best practices to ensure this year is your most successful yet.

A common pitfall in sales is failing to follow up swiftly and effectively. Every interaction with a client or prospect should be promptly followed by a thank you note or email. This small act signals your dedication and interest in the client’s needs. If you’re leading a team, make it a non-negotiable standard – a follow-up within 24 hours is a must.

A well-implemented CRM system is a game-changer for managing follow-ups. It should facilitate sending personalized emails with just a few clicks. If your CRM process is cumbersome, it’s time to reassess and streamline your approach. Remember, if following up feels like a chore, you’re not using your CRM effectively.

One of the golden rules in sales is to schedule the next one before ending a meeting. This practice helps maintain momentum and keeps you at the forefront of your client’s mind. It eliminates the hassle of tracking someone down later and significantly reduces the chances of being ‘ghosted.’

Consistency in follow-up is vital, but so is adapting your strategy to fit your industry’s unique rhythm. Whether it’s a few days or a month later, re-engage with clients who haven’t responded. This persistence shows your commitment to providing solutions. However, constantly tailor your follow-up timing to suit the client’s needs and industry norms.

Make following up a habit, not an afterthought. Whether you’re a VP of Sales ensuring your team adheres to this practice or a CEO looking to make a significant impact this year, diligent follow-up can be the difference between a good year and a fantastic one. Set reminders, use calendar alerts, and let your CRM be your guide in this journey.

This year, let’s resolve to excel in our follow-up game. It’s not just a sales tactic; it’s a fundamental aspect of building lasting relationships and driving success. Check out my other videos for more insights and strategies to kick-start your sales year with a bang. With the right approach, 2024 can be a year of remarkable achievements in your sales career.

Happy selling, and here’s to making this year not just great but phenomenal!