All posts tagged compensation

4 Effective Strategies for Increasing Results on a Sales Team

4 Effective Strategies for Increasing Results on a Sales Team

By Full Editorial on

Sales teams are among the most sought-after organizations. The attention and importance of sales teams are not to be taken for granted in any company. An effective sales team gets results, which means the members have done the necessary work to increase their success rates and help their company achieve its goals. Several different strategies must be employed for a sales team to work well toward achieving these goals. Here, we will look at four of the most effective strategies that can be used to increase the results of your sales team.

1- Prioritize Inbound Sales Calls as Hot Leads

Identifying and prioritizing inbound sales calls as hot leads can greatly impact your team’s performance. This strategy involves setting aside time to call back people who have contacted you directly through a phone call or email. Setting aside this time will allow you and your team members to focus solely on the customers that have reached out to you, meaning better results are obtained. By prioritizing the inbound sales calls, you also make the customer feel more important and, therefore, more likely to be retained.

2- Increase Online Sales Through Social Media

Social media has become an effective and efficient platform for selling products and services. In today’s day and age, potential customers constantly seek new, relevant information and sales. By having an online presence and actively searching for potential customers on social media sites such as Facebook, Twitter, LinkedIn, and others, you will be able to increase the results of your sales team. This can be done by posting articles, videos, or other interesting information to attract customers.

3- Giving Compensation

Sales teams must aim to meet and exceed their sales quotas. This means that if you are to achieve your goals, each team member must be responsible for getting results. Therefore, the best way to increase the amount of impact a sales team member obtains is by giving them the appropriate compensation and bonuses. Knowing how much your members are worth can help you determine how much they should earn per performance, meaning more money will come in. Also, since most sales teams are member-based, the more members you have, the better your results will be. For this reason, compensation is one of the best ways to increase a sales team’s results.

4- Offer a Demonstration of the Product

One of the best ways to sell a product, particularly a new product, is to offer a demonstration. This strategy can be implemented in sales teams by providing free or low-cost demonstrations of your products at events and trade shows. Getting hands-on experience with an effect allows you to demonstrate the product and will enable customers to ask questions about specific aspects of the development. Many salespeople shy away from demonstrations, fearing not performing well and missing out on potential customers. The demonstration can be a high-value sales technique if used correctly.

By implementing these selling strategies into your sales team, you will be able to increase your team’s results and overall performance. These strategies will allow you to ensure that your team members are highly motivated and making the most of their time to obtain results. This will also lead to higher retention rates within the sales team, which means more productive members, which can be extremely helpful in moving your business forward.

The Right Way to Use Compensation

The Right Way to Use Compensation

By Article Editor on

The Right Way to Use Compensation

Recruitment and compensation are the lifeblood of any organization and they must be managed to maintain organizational goals. For many working professionals, compensation is a touchy subject that leaves them feeling unappreciated, under compensated, or even exploited.

It can be challenging to strike a balance between what an employee needs and what the company can afford to offer, but this post will explain how to use compensation the right way according to educator Jonathan Osler.

In order to use compensation the right way, it’s important to know what it is in the first place. It’s a measure of all the money a business gives in total for its workers’ labor that they have provided. This includes wages, bonuses, and benefits.

Types of Compensations

But that’s not all. There are different types of compensation: Fixed, variable and discretionary.

Fixed compensation is just that: fixed. This means it’s consistent, stable, and secure. It doesn’t change. It’s a kind of compensation received as a salary.

Variable is anything that varies. For example, a commission is variable because it can increase or decrease based on something else, like how much is sold or how many people are recruited to the company from the team of salespeople.

Discretionary compensation is anything that can be increased or decreased. This may seem like a great deal, but it’s not always the best choice. The reason for this is that it can’t be controlled when the compensation will increase or decrease. That’s because it will depend on the performance, sales goals, or the team’s performance.

Compensation is basically wages and benefits put together. Employees start getting it right away, and they’ll continue to get it after they leave the job if they’re salaried employees. Salaried employees get their salary every two weeks, on a payday, or once a month.

Investing Compensation

It’s wise to invest some of this money through overtime so that it earns more per hour than someone who works regular hours but gets the same salary because he or she works more hours than usual. It can also be invested in training. It can be used for training to learn new skills or applied to enhance existing skills.

The manager may have implemented something called a training budget. This is money set aside so that workers can get training on anything that will help them do their job better.

According to Jonathan Osler, the best way to use compensation is to invest it so it can get the best return. For hourly workers, this is easy. Some companies offer 401(k) plans, which are works like Individual Retirement Accounts. These types of plans usually come with a matching amount that employers contribute to an employee’s account if the employee makes more than $5,000 a year.

If these aren’t feasible opportunities, Osler suggests using the money and turning it into a business investment. It can be used to create value and generate income in the future.

Ways to Invest Compensation

There are a variety of ways to do this. For example, it can be used to buy real estate, stocks, or even a franchise business. It can be invested to enhance skills set by going back to school and getting a degree, or getting on-the-job training or certification.

In addition to investing compensation, make sure it is spent wisely, too. This money is for future expenses like rent, health insurance, and even groceries.