Motivating a Sales Team in
Challenging Times
Presented to: IAEWS Spring Member Congress
Date: 3/11/2010
And The Survey Says…..
• New Sales Strategies
• Quotas and Comp Plans
• Communication & Support
• New Product Strategies
• Incentives
Adicio Inc. - Company Confidential – Copyright 2010
New Sales Strategies
• Consider any and all new sales strategies
• Consolidate sales teams across geographic and
product/industry boundaries
• Promotes integrated packaging
• Increases income opportunities for sales reps
• Stimulate, reward and recognize creative deals
• Encourage flexibility on sale terms & conditions
• Empower sales reps to address the downward pressure on
price and resistance to long term contracts
Adicio Inc. - Company Confidential – Copyright 2010
Example: ALM Law Jobs
•
Introduced 3 month short
term contract for Recruiter
Slot Package
•
One-time Offer
•
Added 6 month offer
•
Raised the revenue per slot
sold.
•
Lowers the risk for client
•
January billings higher than
prior year
Adicio Inc. - Company Confidential – Copyright 2010
Sales Strategies
• Get sales focused on the market opportunities:
• What industries or geographies haven’t you yet tapped?
• Where is Government stimulus spending going?
• What niches are under represented on your client list?
• Align your sales efforts with the market demand
Adicio Inc. - Company Confidential – Copyright 2010
Example: Advance internet
•
New niche segment to
target growing Biomedical
market
•
Incentivized sales reps with
a higher sales commission
rate on all new advertisers
in Pharma/Biomedical field
• Offered cross-posting to
other regional sites for
participation
•
Boosted revenue and sales
morale
Adicio Inc. - Company Confidential – Copyright 2010
Example: PennWell
•
Renewable Energy is a hot
market with Government
stimulus funding
•
Renewable energy job
category was underrepresented on PennEnergy
job site
• PennWell had a content
partnership with Renewable
Energy World with targeted
reach into that market
Adicio Inc. - Company Confidential – Copyright 2010
Example: PennWell
•
Delivered a “child job board
site” on the renewable
energy world website
(syndicated job database
and application)
•
Offered an attractive
trial/entry posting rate (no
cannibalization on PennWell
Energy job site)
• Each companies sales team
sold into the new job
database creating
competition
Adicio Inc. - Company Confidential – Copyright 2010
New Sales Strategies
• New biz vs. existing client focus
• General prospecting is less productive in a down economy, so
think about an inside telesales team for prospecting and low
volume client activity enabling experienced reps to focus on core
accounts (80/20 rule).
• Analyze sales performance on year-to-year revenue and product
penetration for each account and incentivize to increase
penetration. Adjust commission rates on new vs. existing
business.
• Give reps the opportunity to reward the best clients with
incentives.
• Offer advertisers under contract “membership privileges” such as an
add-on at a rate only available to them for a short time
Adicio Inc. - Company Confidential – Copyright 2010
Quotas and Comp Plans
• Be flexible and reasonable on adjusting quotas
and comp plans
• Set and reset realistic sales goals to address
changing market
• Focus on commissions
• Accelerated commission rates at certain
levels increases productivity and aligns pay
with revenue generation
Adicio Inc. - Company Confidential – Copyright 2010
Example: Las Vegas Review Journal
•
New commission plan
sets goals to budget at
one amount per month
•
Offers an accelerator rate
if the rep can hit last years
monthly number
Adicio Inc. - Company Confidential – Copyright 2010
Communication & Support
• Focus on the long term
• Build relationships with clients:
• Put your sales people on your clients recruiting
team: Biweekly conference calls, focus on metrics to
improve results and ROI, discuss industry event and
share news.
• Focus on Business Development, not orders
• Internal communication
• Train and educate and support reps in the field
Adicio Inc. - Company Confidential – Copyright 2010
Example: Raycom Media
• Recruitment
Specialist conducts
HR Breakfasts in
local markets
• Helps the sales reps
learn the ropes and
hear what is going
on with employers
• Gives the local rep a
reason for follow-up
and contract renewal
Adicio Inc. - Company Confidential – Copyright 2010
New Product Strategies
• Gives sales reps incentives to offer for new products:
special packages for a certain types of products for
certain period of time
• targeted banner ads on the job search results page
based on keyword as a teaser or in response to price
pressure or create email newsletter with ad units that
can be sponsored or bundled with product packages
• Gives sales reps additional reason /cover to call and
engage clients
• New products/packages/offers signals to clients you are
continuing to look for ways to grow their business.
Adicio Inc. - Company Confidential – Copyright 2010
Example: Las Vegas Review Journal
• Publish 5 special
jobs sections a year
• Sales reps can
suggest and select
article topics that tie
in advertisers
• Reps are spiffed to
sell the special
sections
Adicio Inc. - Company Confidential – Copyright 2010
Example: Adicio Careers Pro Edition
• Developed lower
cost of entry and
ownership for job
board platform
• Sales reps engaged
in definition of
product to ensure
market fit and value
proposition
• Opened up new
pipeline of
opportunities for
SME market
Adicio Inc. - Company Confidential – Copyright 2010
Example: IEEE Job Site
• Launched Virtual
Career Fair
• Sales incentivized to
find new biz
advertisers
/sponsors
• Sponsors converted
to ongoing Job
Packages which
boosted existing
revenue quotas
Adicio Inc. - Company Confidential – Copyright 2010
Incentives
• Incentivize creatively
• Sales goals through games & contests,
• Time based around goals / forecast
Adicio Inc. - Company Confidential – Copyright 2010
Example: Las Vegas Review Journal
•
3 games / contests per
year
• Vegas Town: Candy
land game
• Horse derby
racetrack
• Bunny Hop
•
Gift cards and cash
Adicio Inc. - Company Confidential – Copyright 2010
Incentives
• Team Based
• Set a threshold for the whole team to hit
• Product Based
• Bonus or extra commission above regular
comp for achieving new product sales
• Generates higher return than contests
• Motivates sales reps to learn new products
Adicio Inc. - Company Confidential – Copyright 2010
Q&A?
Adicio Inc. - Company Confidential – Copyright 2010
Thank you!
Adicio Inc. - Company Confidential – Copyright 2010