How to Improve Sales Performance with Science
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Are your reps missing quota?
Are you missing sales targets?
If so, it might be worth revisiting your sales incentives.
When done right, sales incentives can drive growth, improve profitability, and retain top sales talent.
But not all incentives are created equal. ??
So, how can you determine what motivates your team and whether your incentives are effective?
"Incentivizing the right behaviors, particularly in the age of technology, is a real effective way to improve performance."
Michael Ahearne , Ph.D., & Sales Performance Expert, said this on our recent panel: The Behavioral Science Behind Sales Incentives.
He provided an example of a car dealership monitoring the behaviors of its top performers.
The dealership noticed that the top reps were encouraging potential buyers to test drive more cars, resulting in a higher number of sales.
So, what did the dealership do?
They started incentivizing on this behavior.
They held a contest for all sales reps to determine who could achieve the highest number of test drives within a month.
As a result, sales increased, and the behaviors of their salespeople improved, matching those of the top performers.
Now, imagine you could apply this approach to your sales organization.
By monitoring the behaviors of your salespeople and identifying the ones that align with the most effective outcomes, you can incentivize to ensure your reps engage in the right behaviors — regardless of the industry.
If you missed the live panel, you can watch the video?here. Michael's car dealership example starts at?39:02.
Calling all Sales Comp leaders ??
领英推荐
Behind every successful leader is a strong team. But not all teams operate like a well-oiled machine from day one.
It takes a visionary leader who consistently invests in development to turn a team from functional to exceptional.
But it can be hard to prioritize team development when you're in the midst of planning season, or trying to keep up with payroll deadlines.
That's why we're hosting a panel of experts to share their experience, advice, and perspectives on developing a high-performing team.
We'll cover:
Can't join live??Register anyway, and we'll send you the recording afterward.
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One more thing...
We are sales compensation experts first. Just like this newsletter, Forma.ai was created by Sales Comp Experts, for Sales Comp Professionals.
Our platform is the world's first sales compensation solution driven by a collective data model. It allows organizations to design, execute, and optimize their sales compensation strategy.
When you're ready to chat, we're?here!