Four Tips to Build an Incentive Plan to Support Your Evolving Sales Strategy

Posted by Brian Keating on Tue, Jun 26, 2018

Every year, insurance companies adjust their sales strategies and then add new components to their incentives accordingly. But sometimes, these changes are just “Band-Aids” and they don’t address fundamental issues. And as new components are added and incremental changes are made each year, sales incentive plans can become quite complex. Eventually, they can reach a tipping point when the incentive plans become too difficult for reps to understand—and therefore less capable of motivating reps to achieve the sales strategy’s stated objectives.


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Can You ‘Nudge’ Salespeople Toward Higher Performance?

Posted by Jason Brown on Mon, Jun 11, 2018

We’re on a continual search with our financial services clients for new ways to elevate sales performance through means other than incentives. These efforts take many forms, from the traditional—such as training, coaching and territory management—to newer ideas, like data-directed selling. Often, efforts in the latter category come in the form of “nudges”: discreet attempts to change behavior, such as approaching one conversation differently, making one more sales call, or pursuing one more lead.


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Five Interesting Questions About Selling Roles, Compensation and the Future of Distribution

Posted by Jason Brown on Mon, Jun 04, 2018

Last week I had the pleasure of speaking at the newly renamed Investment Management Education Alliance (formerly the Mutual Fund Education Alliance) Distribution Summit. The hardest question I faced all day was one that I had to ask myself: How will I make it to New York during a weather apocalypse? But that was by no means the most interesting question I faced. Here are five thought-provoking questions that came up during our discussion of selling roles, compensation and the “future” of distribution:


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Compensation Season Forecast: Conditions Right for Radical Change

Posted by Jason Brown on Fri, Sep 26, 2014

Compensation season is right now for many sales organizations, as companies prepare for the 2015 sales year. For most, that means examining incentive pay levels and mix, defining pay metrics that align with the company’s new goals and adjusting pay-for-performance relationships to make sure the right salespeople are rewarded. These housekeeping steps are necessary to maintain a healthy culture and productive sales organization.

But sometimes, more radical change is needed: for example, when competitive dynamics shift, profit models change or new information comes to light. All that (and more) is happening right now in the asset management industry, and we believe the time is right for a major change.


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