How to Reduce the Costs of Salesperson Turnover

Posted by Andris A. Zoltners, PK Sinha, and Sally E. Lorimer on Tue, Nov 21, 2017

Even the best sales forces can’t keep every good salesperson. Loss of salespeople to competitors occurs frequently in high-growth industries in which the demand for experienced salespeople exceeds the supply, such as in fast-evolving technology markets. Poaching of salespeople also occurs when sales are driven largely by relationships. For example, wealth management companies frequently recruit advisors who have built a strong book of business at competitive firms.


>
Read More

Are Sales Incentives Becoming Obsolete?

Posted by Andris A. Zoltners, PK Sinha, and Sally E. Lorimer on Mon, Aug 07, 2017

To motivate, manage and reward B-to-B salespeople, many companies use sales incentive plans that link large commissions or bonuses to individual results metrics, such as territory quota achievement. As digital channels continue to reduce and redefine salespeople’s role in customer buying, these traditional sales incentive plans are becoming less effective at driving sales outcomes.


>
Read More

Ineffective Sales Leaders Can Cause Lasting Damage

Posted by Andris A. Zoltners, PK Sinha, and Sally E. Lorimer on Mon, Jan 30, 2017


Success in a sales force requires having strong talent up and down the organization. A weak salesperson will weaken a sales territory, a bad sales manager will damage their team and dampen results in their region, and a poor sales leader will eventually ruin the entire sales force. For even the most seasoned among us, it can be difficult to recognize the signs of a poor sales leader and the possible damage the person can do—especially when they appear to do some good early on.


>
Read More

Wells Fargo and the Slippery Slope of Sales Incentives

Posted by Andris A. Zoltners, PK Sinha, and Sally E. Lorimer on Fri, Sep 23, 2016


In early September, Wells Fargo agreed to pay a $185 million fine and return $5 million in fees wrongly charged to customers. The settlement stems from the bank’s employees allegedly opening more than two million bank and credit card accounts without customers’ permission. The CEO of Wells Fargo, John Stumpf, apologized in front of a congressional panel Tuesday, saying in a statement, “I accept full responsibility for all unethical sales practices.”


>
Read More

Why Sales Ops Is So Hard to Get Right

Posted by Andris A. Zoltners, PK Sinha, and Sally E. Lorimer on Tue, Jan 20, 2015

According to Spin Selling author Neil Rackham, when Xerox first established a sales operations group in the 1970s to take on activities such as sales planning, compensation, forecasting, and territory design, the group’s leader J. Patrick Kelly described his responsibilities as “all the nasty number things that you don’t want to do but need to do to make a great sales force.”


>
Read More