The Holidays are fast approaching and most organizations are beginning (or should have already begun) to plan for 2013. Keeping that in mind, I wanted to share a post from a great source, OpenView Partners, discussing compensation for inside sales or lead generation teams. I have shared a few posts from this site and highly recommend the RSS feed. Devon McDonald wrote the post I wanted to share entitled Variable Compensation for Lead Generation Reps: Consistency and Frequency are Key. In her post, Devon provides a few guidelines she recommends following when looking to build out your compensation package for lead generation. A couple suggestions include: Pay out your bonuses/commissions on a MONTHLY basis, pay for appointments set AND opportunities created from those appointments, and never cap your goals. I don't want to give it all away, so I suggest giving it a quick read. There are also some quotes from Lead Qualification Managers within Openview's portfolio that many of you may find interesting and helpful.
Now, on to this week's recap.
Monday, December 10, 2012
We began our week with a post discussing sales pipeline and Director of Strategic Alliances, Maegan Kopka asks if you have an understanding of What is the True Value of Your Sales Pipeline?. In her post, Maegan discusses the three things she feels is crucial to marketing and sales success when discussing pipeline. The first area you need to get an understanding of is the quality of the leads being generated. Are the leads you are seeing "sales ready"? Both sales and marketing must agree on the definition of a qualified lead or you are already losing value. The second crucial area that must be identified is your conversion rates. If you have not done an analysis of this area, you are losing value. The last point Maegan mentions is ROI; the ability to track your leads from inception to closed business. You must set aside some time to evaluate your sales and marketing process to make sure they are in sync.
Tuesday, December 11, 2012
We had a couple of great posts on Tuesday!
First, we had a guest post from Ryan Corey, Sales and Marketing Director with TrainAce and Co-Founder of SalesRepMarketing.com. In his post How A Sales Professional Can Achieve Greater Success Through Online Marketing Ryan discusses some of the ways sales reps can increase their visibility within their targeted territory. He mentions three areas that sales reps should focus on that will build their presence: using Social Media sites like Twitter and Linkedin to increase your following and networks, develop a regular blog, and utilizing online advertising with geo-targeted campaigns. These three things to require some commitment on the part of the sales reps, but it will be well worth the time when you are generating more qualified leads.
Our second post on Tuesday was a brilliant idea from Director of Client Operations Craig Ferrara in which he discusses The ABC's Of Managing An Inside Sales Team. Craig provides and A-Z run down on teleprospecting from a manager's perspective. It was a great, relevant idea that has some interesting comments. Some examples include: K- KPI's worth monitoring: You need to determine/track the metrics that drive productivity; Call Numbers, Connect Rate, Conversion Rates...etc, N- Never have your team rely solely on emails: Email shouldn't be a crutch. Best practices tell us to weave email into your calling efforts, U- Urban Myth: Teleprospecting is easy, and Z- Zero#- Best way for your team to navigate a large organization. It's a quick read, so if you have a minute, I highly recommend checking it out.
Thursday, December 13, 2012
I wrote a lighter post on Thursday in which I provided some insight into what sales rep may encounter within their first couple weeks of teleprospecting in The 12 Days of Prospecting. Obviously this is a play on The 12 Days of Christmas and I did try to keep it in line with the original tune. This is a very quick read, some highlights include: On the first day of prospecting my campaign gave to me….a list of 5,000 contacts, On the eighth day of prospecting my campaign gave to me….8 admin convo’s, and On the twelfth day of prospecting my campaign gave to me….12 quality conversations.
Here's to an awesome next week and we look forward to providing you with some more great content!