Franklin

What Your CEO Needs to Know about Sales Compensation : Connecting the Corner Office to the Front Line.

Author/Creator:
Donnolo, Mark.
Publication:
Nashville : AMACOM, 2013.
Format/Description:
Book
1 online resource (249 pages)
Edition:
1st ed.
Status/Location:
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Subjects:
Sales personnel -- Salaries, etc.
Compensation management.
Incentives in industry.
Sales management.
Form/Genre:
Electronic books.
Summary:
Put simply: money motivates. Yet most senior executives fail to see the big picture--and the strategic power of incentives. Learn how to evaluate and improve your sales incentive plan and help your organization reach its ultimate goals.
Contents:
Cover Page
Title Page
Copyright Page
Contents
Acknowledgements
Introduction
Chapter 1 Your Revenue Roadmap: Driving Your Sales Strategy with Sales Compensation
Aligning to the Strategy
The Four Layers of the Revenue Roadmap: Connecting Your Sales Strategy and Compensation
Insight
Sales Strategy
Customer Coverage
Enablement
Setting Your C-Level Goals
The Sales Compensation Diamond: The Facets of Evaluating and Designing a Sales Compensation Program
Determine Target Pay
Calibrate Pay Mix
Create Upside Potential
Establish Performance Thresholds
Develop Measures and Priorities
Define Levels and Timing
Design Mechanics
Align the Team
Set Objectives and Quotas
Institute the Governance Process
Operate the Program
Evaluate the Program
5 Questions You Should Ask Your Team About Sales Strategy
Chapter 2 Lapdogs, Dobermans, and Retrievers: Motivating the Breed that You Need
What Breed Do You Need? Aligning Sales Roles to Revenue Flows
The Three Strategies for Revenue Growth
Sales Roles and Their Canine Counterparts
The Big Picture on Sales Roles
The Six Dimensions of Sales Roles
5 Questions You Should Ask Your Team About Sales Roles
Chapter 3 The Reverse Robin Hood Principle: Differentiating Top Performers
The Building Blocks of Sales Compensation
Base Salary
Target Incentive
Pay Mix
The Reverse Robin Hood Principle: Upside Potential
Factors Determining Upside
Thresholds
Thresholds Aren't for Everyone
To Cap or Not to Cap
5 Questions You Should Ask Your Team About Pay Mix and Upside Potential
Chapter 4 Performance Metrics: Measure Twice, Pay Once
Performance Measures3 (Cubed)
Measures
Level
Frequency
Performance Measure Pitfalls
Using Measures Without Clear Line-of-Sight
Measuring at the Wrong Level.
Measuring What Can't Be Controlled
Measuring on a Sliding Percentage Scale
Using Conflicting Measures
Selling Incentive Plan Real Estate to Marketing
Misaligning Bookings and Billings and Losing Urgency
5 Questions You Should Ask Your Team About Performance Measures
Chapter 5 Big Deals: Aligning and Motivating Strategic Account Sales
Defining Strategic Accounts
Sales Potential
Strategic Value
Understanding How the Customer Makes Decisions
Centralized Process
Preferred Provider Process
Decentralized Process
Promoting a Solution Sale
Motivating Creative Sales Roles
Discern Between Creativity as an End and Creativity as a Means to a Sales Result
Consider Fewer Directive Incentives and More Incentives with Latitude
Understand Motivators for Highly Cognitive Sales Roles
Involve Creative Sellers in Creating Their Own Goals
The Sales Crediting Balance
Measuring Mega Deals
5 Questions You Should Ask Your Team About Strategic Accounts
Chapter 6 A Quota Quandary: Setting Equitable and Profitable Sales Goals
Some Challenges with Quotas
The Forensics: Do You Have a Quota Issue or a Sales Effectiveness Issue?
10 Success Factors for Better Quotas
See Beyond a Single Number
Remember the People
Involve the Right Team
Don't Get Lost in the Legacy
Get a View from the Bottom-Up
Move Beyond History
Balance Market Opportunity with Sales Capacity
Fit the Methodology to the Account Type
Make Your Approach Scalable
Don't Over-, Over- Allocate
From History to Opportunity
5 Questions You Should Ask Your Team About Quota Setting
Chapter 7 Managing Sales Management: Understanding Roles and Rewards
Sales Managers Aren't Just Big Salespeople: What Does It Take?
They Understand How to Lead
They Strategize the Growth of Their Organization.
They Are Creative at Planning and Systematically Solving Customer Problems
They Are Effective at Coaching and Developing Their Teams
They Sell in the Right Places
What Motivates Managers?
Role and Recognition
Career Map
Investment
Rewards
Sales Compensation
Long-Term Incentives
A Few Sales Compensation Ideas for Sales Managers
Establish Pay Mix with a Longer View
Do a Simple Roll-Up
Look at Team Participation
Shift Measures Down the Income Statement
Get Objective
5 Questions You Should Ask Your Team About Motivating Managers
Chapter 8 Making Change: Communicating and Implementing the Sales Compensation Plan
Change Management Key Steps
Start Strong
Craft the Change Story
See the Organization's View
Get the Change Forecast
Leverage the Learning Modes
Follow the Process
5 Questions You Should Ask Your Team About Making Change
Chapter 9 The Role of the C-Level: Getting Involved in the Right Way
C-Level Involvement in the Sales Compensation Process
Providing Strategic Direction
Getting Involved in the Process
Reviewing, Approving, and Supporting the Program
Asking Good Questions
5 Questions You Should Ask About Your Executive Involvement
Chapter 10 Your Strategic Sales Compensation Report Card: Grading Your Plan and Taking Action
Grade Your Plan
Time for Action
Glossary
Index.
Notes:
Description based on publisher supplied metadata and other sources.
Local notes:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2021. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
Other format:
Print version: Donnolo, Mark What Your CEO Needs to Know about Sales Compensation
ISBN:
9780814432280
9780814432273
OCLC:
824700067