Monday Apr 29, 2013
Tuesday Mar 26, 2013
Friday Feb 22, 2013
By allisonkutz on Feb 22, 2013
The Winner’s Playbook
Allison Kutz, Lindsay Richardson, Jennifer Rossbach
“We do one thing right in this country: the NCAA tournament. It is, from start to finish, the best sporting event in America.” – Mark Rosenberg, Sports Illustrated
With 68 teams, over 1000 players, and 98 referees, March Madness takes a significant amount of time and energy to plan and execute. The tournament is successfully executed every year because the coaches, players and referees each work hard to successfully perform their respective duties. Coaches lead their teams effectively in order to win, players work hard to achieve recognition for their team, and referees manage the games to create a successful and well-spirited event. Coaches head teams similar to how sales managers lead their teams by effectively aligning sales reps and territories. Just as players work hard to achieve recognition, sales reps work hard to meet and exceed their incentive compensation plan. Like referees managing and regulating March Madness, sales managers establish quotas to increase revenue for the company. This month, while you watch March Madness, think about how this sport’s philosophies impact your business in a similar way.
Lead your team effectively to win it all
In order for a team to win, it needs to have participants developing, directing, and delegating consistently (Forbes). Coaches know that teams perform better when each player understands their particular role as well as the roles of their teammates. Because of this, coaches speak to their teams as a whole instead of individuals. Similar to athletic coaches, sales managers need to ensure that their team understands everyone’s roles and responsibilities. Correctly aligned territories spread high potential opportunities equally among reps and eliminate wasted time and resources. With a territory management system, managers can delegate responsibilities to ensure that everyone knows their role and is working in sync with the rest of the team to achieve the best results.
Work hard to get rewarded
Whether an athlete or a sales rep, everyone wants to be a top contributor to their team. This desire is often driven by incentives of recognition, money and success. With an intelligent incentive compensation plan, managers can select the best method to maximize their team’s performance. In some cases, incentives can be assigned to an individual rep or player, but ultimately, a team’s performance is only as strong as its weakest link. Often it is better for a sales manager to incentivize individuals based on the performance of the entire team or company to ensure the best overall performance. With continuous incentives and motivation, managers can push their team to perform to their highest potential.
Manage the game to achieve success
Basketball leagues use foul quotas as one of the tools for evaluating performance, according to the NBA's Executive Vice President of Basketball Operations Stu Jackson. The point of these quotas is to “improve the flow of the game” (WSJ). Just like referees manage the quotas of player fouls in a game, sales managers manage sales quotas to improve overall business performance. Establishing quotas and requiring teams to attain quota is an easy way to monitor achievement of the organization and determine who is a large contributor of success.With territory, incentive, and quota management capabilities, organizations can run as smoothly as the NCAA basketball tournament. This year, as you fill out your brackets and watch March Madness, remember that with strong leadership, hard work, and effective management, your sales organization can have the same success as the skilled coaches, players and referees.
Want to find out more about how your sales organization can work and perform like top basketball teams? Join us in our Winning Team webcast on March 8th at 10am PST, 1pm EST. Register here today!
Sunday Feb 03, 2013
By Samantha.Y. Ma on Feb 03, 2013
Allison Kutz, Lindsay Richardson, Jennifer Rossbach
Card stores, jewelers and florists are preparing for their busiest season of the year. With Valentine’s Day right around the corner, you are giving extra attention to your loved ones. Your loved ones are the people who bring out the best in you, similar to how territory management systems are designed to bring out the best in each territory. Without a territory management system, chances are you wouldn’t know where to focus your attention, you wouldn’t be pairing the right rep with each territory, your expense account would be larger, and you would close fewer deals. You wouldn’t spend Valentine’s Day focusing on people who don’t bring out the best in you, so why spend time creating territories that don’t provide the best results? Instead of spending your Valentine’s Day thinking about the deals that got away; adopt a territory management system to find your match.
Get the most out of your relationship with better territory alignment
Today, over 40% of sales reps have a schedule that is either overbooked or under-scheduled. Even worse, those reps that are overbooked in the last three quarters of a fiscal year are often not busy during the first quarter. This first quarter lull, which many companies experience, is because reps haven’t been assigned a territory yet. An effective territory management solution allows sales reps to start their fiscal year running. When reps have all 52 weeks in the year to achieve their quota, the bottom line will increase. Correctly aligned territories spread high potential opportunities equally among reps and eliminate wasted time and resources.
Love deeper than the surface with advanced formulas
True love is certainly more than what you see at surface level, and a territory management system is no different. Leonard M Lodish, Associate Professor of Marketing at the University of Pennsylvania, created a mathematical model to determine maximal profit solutions. One way this model increases total profitability is by “taking sales time from territories with small marginal value and adding it to those of high marginal value”- i.e. changing territory boundaries. Every company has a unique set of best practices that wouldn’t work for another company the same way. Similarly, one standard territory assignment wouldn’t work the same way in multiple organizations. The advanced formulas working beneath the surface of a territory management system ensure that the territory boundaries are as effective as possible. These boundaries can apply not only to state lines, but to industries, product lines, and additional unique methods. Sales reps spend about 20% of their time traveling, often in an unorganized manner. Selecting a geographical territory alignment, for instance, would reduce the amount of time reps spend in cars and on airplanes, and in turn, increase the amount of time they spend selling and generating revenue.
Test your relationship before you commit with territory proposals
The future is scary to think about, especially for a sales organization with a volatile market. Finding the right territories for the present and future can help alleviate these fears. With Fusion Territory Management companies can manage their territories before they become permanent with live information and real production data. Eliminating ‘the guessing game’ allows users to evaluate territory alignment ideas and compare them to see which would be more productive. When managers have free time, they can formulate a territory proposal, and save it until they wish to use it days, weeks, and even months later. With a valuable territory management system companies can be sure all their customers are receiving the attention they deserve. Just like Valentine’s Day is for focusing on loved ones who bring out the best in you, territory management systems are used to bring out the best in each territory. This Valentine’s Day, don’t rely on a manual alignment of territories and risk letting a customer get away. Adopt a beneficial territory management solution to find your match.
Want to find out more? Join our webcast on February 15 from 10-10:30 am PST / 1-1:30 pm EST
Friday Jan 18, 2013
By Samantha.Y. Ma on Jan 18, 2013
It’s inevitable-every January 1st, we make our New Year’s Resolutions. We look back on the previous year and evaluate what we could have done better. The improvements we resolve to make include “get in better shape”, “spend more time with family”, and “save more money.” We use apps to constantly track our progress on those resolutions. Good data and relevant analytics help us understand what we've been doing well and what we need to improve. The gyms are packed, our grocery carts are full of vegetables, and friends and family are our number one priority.
But what about professional resolutions? This year challenge yourself to make over your business with a few resolutions and still have time and energy to commit to your personal goals. After all, the New Year is the time for a New You!
Resolution 1: Run Faster and Further Unsuccessful people are busy being busy while successful people are busy being productive. It’s your decision; your success depends on how you spend your time. Everyone has twenty-four hours in a day, so why does your neighbor have the opportunity to fit in a five-mile run after work and you’re lucky if you make it home for dinner? Chances are your neighbor is using his time and resources in a more effective way.
Today sales reps have the opportunity to be more productive and successful than ever before. With mobile access to business information anywhere, anytime, reps can be productive on the go. Adding mobile access to CRM applications boosts sales productivity by 14.6 percent1. Sales reps that leverage the mobility aspects of their CRM system have more time to focus on selling, and spend less time computing and preparing data.
Resolution 2: Eat Right to Fuel Your Body Breakfast really is the most important meal of the day. Not only does breakfast give you energy, but it is linked to many health benefits, including weight control and improved performance2. You cannot eat a Pop-Tart® and chocolate milk and expect the same health benefits as if you were to have made a healthier choice. Similarly, not all leads provide the same positive results. It’s important to have accurate historical data and qualified leads in order to effectively fuel your sales pipeline. This will result in opportunities that have a better chance closing, which means not only more revenue for your company, but also a bigger paycheck for you!
Robert Griffin III, quarterback for the Washington Redskins said in a Gatorade commercial, “When the weak and the distracted are resting on their reputations, take what is yours.” Companies understand that leads are necessary for sales-focused organizations to succeed, but not everyone understands that it’s the quality of the leads, not the quantity that matters. This resolution is your chance to take what is yours. In order for CRM applications to develop valuable leads, you need to start with accurate information. This includes recording information from all customers, such as what is being purchased and when. Although this may seem like common sense, the majority of your competitors are lazy in this area and you can leverage their laziness by getting ahead and taking what is yours.
Resolution 3: Shed Some Email MBs When was the last time you collaborated with your team and had ALL of the information you needed at your fingertips? If you’re struggling to remember, encourage your business to take the next step and go social in 2013 with a CRM solution.Companies with social collaboration tools are 12% more productive than those without any way to collaborate as a team3. With a social CRM tool, users can access information easily, reducing the excess emails that clutter inboxes.
While you’re using those apps to track your personal resolutions, add in the right CRM tools to make your business resolutions a reality. Your sales people will be more productive, your sales information more accurate, and your email inboxes will thank you. This year, resolve to improve your business and help yourself along the way.
Want to find out more? Join our webcast on January 25 from 10-10:30 am PST / 1-1:30 pm EST
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