Sales & Marketing Management - May/June 2008 - (Page 27)

SMM: If the manager chooses a merchandise reward, how much lead time needs to be built into the schedule? JB: It’s impossible to say because every product is different. There is no single answer that eliminates all of those problems. That’s why we like to work with sales leaders when they’re in the planning stages of an incentive program, usually about three to six months before fulfillment. That allows us to guarantee two things: that the reward merchandise delivered is the exact item that was promised when the program started, and that it will be available on the date it was promised. I can’t stress how important both of those things are. Salespeople work very hard to reach their goals, and when they get something different from what they ordered, it can be very disappointing … even when the replacement merchandise is of the same type and approximate value. Salespeople are expected to deliver the revenue they promise in their forecasts—and to deliver it on time—so they expect their team leaders to treat them the same way. SMM: Does a sales leader need to have the framework of the plan in place before engaging with product manufacturers, or can you help them develop the details, in addition to providing the reward merchandise? JB: We can simply provide the merchandise if that’s the way a company wants to go, but the process works best when sales managers talk to us first. For example, if someone wants to implement a service award program, the intent is to improve employee retention and reward people who stay with the company for a long period of time—five years or more. The rewards you choose are different from the ones you’d pick for a safety awareness program because the timeframe is so much shorter. What’s hot today will probably still be hot in a month, but it might not be five years from now. Even the way you present them to your teams depends on the timeframe. If it’s a short-term program, use the details to Is your sales force reluctant to sell to women? Maybe you should try motivating them with mind-blowing statistics—for instance, the fact women spend $19 trillion globally each year. Learn four steps for motivating your team to target female clients, courtesy of S&MM online columnist Kelly McCormick, at www.salesandmarketingmanagement.com/selltowomen. generate buzz. If you opted for a TV as a reward, show your team a picture of the exact unit and all of the details. But if you have a longer-term program, don’t give too many specifics—such as the exact model number—because that model might not be around when the program ends. SET THE BAR HIGH encourage excellence Motivate Your Champions our Nik Gif C d Nike Gift Card No Expiration. No Fees. Corporate Discounting Available. call: 877.220.6453 email: giftcards@nike.com www.salesandmarketingmanagement.com MAY/JUNE 2008 SALES &MARKETING MANAGEMENT 27 http://www.nike.com/index.jhtml#l=nikestore,giftcards&re=US&co=US&la=EN http://www.nike.com/index.jhtml#l=nikestore,giftcards&re=US&co=US&la=EN http://www.salesandmarketingmanagement.com/selltowomen http://www.salesandmarketingmanagement.com/selltowomen http://www.salesandmarketingmanagement.com

Table of Contents Feed for the Digital Edition of Sales & Marketing Management - May/June 2008

Sales & Marketing Management - May/June 2008 Contents Editor's Letter Brian Tracy University Smart Sales Sales Strategy Smart Marketing Marketing Strategy Smart Management Management Strategy The Minister of Culture Become a Value Merchant Incentives/Motivation Streamlining Business Travel Book Excerpt The Way I See It

Sales & Marketing Management - May/June 2008

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