Replicating Your Top Producers

Session 4: Sales Territory Management and Incentive Compensation Programs

November 13th, 12-1 PM

How do know if you have the right territory structure to gain the most market share where you have the best opportunities?

How do you know you have the right incentive programs to motivate your teams and are they fair?

The right incentive plan drives sales teams to work harder and achieve challenging goals.  Salespeople prefer a structure where more effort equals more rewards.  The incentive plan sets the benchmark for what is expected of them.  It provides the positive reinforcement they need to accept the performance risk and persevere through the rejection that is part of the job.

At the same time, how you assign territories determines how they cover the markets and customers you want to maintain and penetrate so you gain market share at the rates you expect.  

A poorly designed incentive plan or misaligned territory management can foster complacency, or cause salespeople to focus on the wrong customers, products or services, or selling activities.  It can also discourage team participation or encourage ways to manipulate the program in ways that don’t serve the company or customers.

What we will cover:

• How to define and structure territories to optimize penetration and coverage
• The common threads that can define the territories
• The four steps to an effective incentive compensation plan and implementation
  • How to assess your current plan
  • How to design a new plan
  • How to test a new plan
  • How to implement a new plan
• The 7 non-financial elements of your compensation program that will have a greater impact on results
• Selecting the right performance measures
• How to design the right incentive plan for your business and design it for longevity

Be sure you are giving your salespeople what they need to stay motivated to continue optimal performance.