Sales Incentive Design Best Practices: Two-Part Series on How to Succeed with a New Sales Compensation Plan (DVD)
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In the “new normal” economy many distributors are struggling with the challenge of transitioning their sales forces from self-directed to management-directed. Frequently, companies view changing their sales compensation programs as the first and sometimes only step required to facilitate this change. Unfortunately, this isn’t the best first step for most companies, and it’s never the only step required.
In this two-part webcast event from MDM, Indian River Consulting Group Partners Steve Deist, Mike Emerson and Mike Marks discuss their new book, Effective Sales Incentive Design for Distributors: What’s the Right Plan?, published by the National Association of Wholesaler-Distributors. The speakers will describe the biggest risks and challenges companies face when designing and implementing new sales incentive programs, as well as what companies can do to avoid them.
Part 1 of this program focuses on where companies should start the change and will cover the following topics that establish the building blocks for effective sales compensation programs:
- Picking the right tool – understanding when incentive changes are likely to be effective and when they are not
- Getting strategic clarity – ensuring that you have the right foundation in place for success
- Aligning the sales force organization – how to get the right talent in the right role based on your market opportunities
Part 2 of this program covers the nuts and bolts of designing programs and cover the following topics:
- Incentive structure fundamentals – understanding the nuanced power of absolute and relative performance factors
- Relative performance techniques – how world class sales organizations solve the most vexing incentive program challenges to capture discretionary energy
- Implementation guidelines – tips and tricks for successful change management and avoiding the common mistakes made by most distributors
This webcast is based on the book, Effective Sales Incentive Design for Distributors: What's the Right Plan? from the National Association of Wholesaler-Distributors. Order that book here.
About the Speakers
Mike Marks co-founded the Indian River Consulting Group in April 1987. Mike began his consulting practice after working in distribution management for more than 20 years. He has written extensively, and is frequently quoted on industry issues.
Steve Deist has over 20 years of experience in the wholesale distribution and supply chain arenas. Steve is co-author of the NAW sales management bible The Five Fundamentals for the Wholesale Distribution Sales Manager. He is a highly rated speaker, an instructor at the University of Industrial Distribution and a distribution company board director.
Mike Emerson began his career at IRCG in 1997. He is responsible for managing the firm's compensation practice and also runs many of its channel and research projects. Learn more about Indian River Consulting Group at www.ircg.com.
These programs are also available on-demand, sponsored by Infor and IBM.