Sales & Marketing Management - March/April 2008 - (Page 36)

TECHNOLOGY TRAINING INCENTIVES TRAVEL/MEETINGS Q&A Performance: it’s in the cards Tips that keep your team focused in any kind of economy By Mike McCue online reward management. AEIS has a number of things going for it, not the least of which is the brand itself. According to a recent poll from InterBrand and BusinessWeek, it’s the 15th most valuable brand in the world—that puts it in good company, with HewlettPackard above and BMW below. Another major advantage involves the company’s DirectSpend product, a patented prepaid card acceptance process that allows clients to strategically direct cardholder spend to a specific merchant or group of merchants. “AEIS offers a unique advantage in that we can use DirectSpend to tailor the reward to whatever specific merchant or type of product that the client wants,” says James Menadier, general manager of the Strategic Partnerships Group. “That capability allows us to work with our customers to draw a direct line between the specific behavior they’re trying to reinforce and the incentive they’re providing to reach it.” Other insights Menadier shared with S&MM: S&MM: What can you do to an already-established L egendary speaker Zig Ziglar once quipped, “People say that motivation doesn’t last. Well, neither does bathing. That’s why we recommend doing it daily.” After a lifetime spent giving motivational speeches and sales presentations around the globe, it’s clear he hit the bullseye with that quote. In fact, it’s the biggest reason why incentive plans exist: They’re a tool that’s strategic as well as tactical. Employees get paid salaries and commissions to do their jobs, but in many circumstances, that’s not enough to encourage specific behaviors today. As the leader of a top-notch sales team, you might not hear this question asked out loud, but you can bet your team is asking it in their heads: “What have you done for me lately?” If you’re hitting your numbers but don’t have an answer to that unasked question, you’d better get one fast. Rain or shine, good economy or bad, top-notch salespeople are always in demand. If you’re not motivating and rewarding them, the simple fact of the matter is, someone else will. By the same token, if the team you’re leading is underperforming in certain areas, it’s even more critical that you develop a high-impact incentive plan. If you don’t, the person looking for a new job might very well be you. Fortunately, there are a number of companies with the size and experience to help here, including American Express Incentive Services (AEIS), a joint venture between American Express Travel Related Services Company and Maritz, Inc. AEIS provides business-to-business reward solutions including prepaid cards, American Express Gift Cheques and 36 SALES &MARKETING MANAGEMENT MARCH/APRIL 2008 incentive plan if it isn’t driving the behaviors you want to reinforce? Do you just tear the whole thing up and start over? JM: Most of the time, the plan simply needs to be more targeted and focused. Sometimes these things take on a life of their own, and even if they’re still active several years later, the market has changed but no one has revisited their original purpose. Incentive plans are strategic in nature, but they’re tactical when it comes to design and implementation. That means they need to be tweaked every so often. As far as analyzing results, companies usually know how much they’re spending on their incentive programs, but often they aren’t really sure what they’re getting in return. To find out, they can go to an outside company to get help www.salesandmarketing.com www.salesandmarketingmanagement.com http://www.salesandmarketingmanagement.com

Table of Contents Feed for the Digital Edition of Sales & Marketing Management - March/April 2008

Sales & Marketing Management - March/April 2008 Contents Editor's Letter Brian Tracy University Sales Marketing Management Cover Story: Lessons From the Master Maximum Mobility Training Technology Incentives/Motivation Travel/Meetings Book Excerpt - Value Merchants The Way I See It - End the Discounting Habit

Sales & Marketing Management - March/April 2008

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