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Sales Operations > Cours 6 > Flashcards

Cours 6 Flashcards

1
Q

Sales compensation plans

A

Salary

Incentive payments

Sales contests

Benefits

Non financial incentives

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2
Q

Salary

A

Fixed sum of money at regular interval

Motivate effort on non selling activities

Adjust for differences in territory potential

Reward experience and competence

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3
Q

Incentive payments

A

Commission

Bonus

Encourages sales success

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4
Q

Commission

A

Payment based on short term results

Dollar or unit sales volume (quotas)

Can change according to sales volume : progressive

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5
Q

Bonus

A

Surpassing set level of performance

Achieve a certain level of their sales quota

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6
Q

Sales contests

A

Encourage extra effort for short term goal

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7
Q

Benefits

A

Satisfy security need ans match complementary offers

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8
Q

Non financial incentives

A

Opportunities for promotion or various types of recognition for performance

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9
Q

Straight salary

A

Task not directly result in immediate sales outcome

Long cycles

Junior sp

Sales results from quality and comm

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10
Q

Advantages straight salary

A

Easy to compute and administer

Can be used when difficult to measure actual impact on sales (team work(

Require sales people to spend time on activities that don’t result in sales

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11
Q

Disadvantages straight salary

A

Pay is not tied to any job performance

Not direct incentive to improve sales relations performance

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12
Q

Advantages commission

A

Strongly motivated to improve productifs

Easy to administrer and compute

Compensation cost vary directl with sales volume

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13
Q

Limitations commission

A

Management has little control over the sales force

Difficult to motivate sp to build relationships with clients

Little motivation to engage in market analysis (activités away from selling activities)

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14
Q

Compensation plan

A

Mix plan

Combination plan et

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15
Q

Selling approaches related to short term sales

A

Large incentive component should be offered

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16
Q

Customer service and non sales objectives

A

Incentive component should be small

17
Q

When is the mix plan used

A

When a sale is a sale

Contract signed
Saler accept the payments
Buyer receive products
Products are shipped

18
Q

Successful sales contest

A 
Clearly defined
Exciting theme 
Reasonable probability of reward for all
Attractive rewards 
Promotion to maintain interest during contest
19
Q

A good compensation plan

A

Compare the actual distribution of promotion to the distribution expected when sales leaders created the plan

20
Q

Performance management

A

Objective measures

Subjective measures

21
Q

Objective

A

Reflects statistics from internal data
Quantitave measure

  • outputs
  • inputs
  • ratios of output and input
22
Q

Subjective measures

A

Personal evaluations by sales managers

Qualitative measures reflect behaviors

Bias : refers to performance evaluations that differ from objective reality : halo effect, inter person bias

23
Q

Role of performance management in the sales system

A

Influence salespeople and their activities

24
Q

Sales process

A

Goals—> plans —> actions —> measurement —> evaluation and consequences

Must be synchronized with regular feedback coaching

25
Q

Level of competencies

A

Basic
Expériences
Advanced

26
Q

Type of competencies

A

Product and market knowledge
Sales process
Planning and territory management
Relationship management

27
Q

Engagement rate

A

What percentage of sales force received incentive pay

28
Q

Excitement index

A

At what rate do salespeople earn their last incremental incentive dollars ?

29
Q

Publishing ranking of sp

A

Can generate a lot of internally focused competition

Runs counter to the supportive culture

Can be demotivating

Sales Operations (5 decks)

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