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The Sales Force: Ambassadors of Your Brand Stan Striker, Maritz Incentives

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  1. The Sales Force: Ambassadors of Your Brand Stan Striker, Maritz Incentives

  2. What you will gain from this session… • Learn about the link between satisfaction and business success by delivering on your brand promise • Learn how to use incentives to drive sales effectiveness • Hear how well-designed incentives drive results

  3. Brand Promise…what do you think of? • Gaps – over promising, under delivering? • Promise management – under promising, over delivering? • Is it better to surprise the customer, or, better to be reliable and consistent? • We certainly know that nothing good comes from a bad experience…

  4. Brand promise delivery…the bad and the good. “When there is a gap between promises and delivery, customers defect to the tune of 52%.” UCLA/Mercer survey “Service quality has five times more weight ininfluencing purchase and repurchase decisions than any other attribute tested.” Jeffrey F. Rayport and Bernard J. Jaworski Harvard Business Review

  5. Employee Satisfaction “…Through their direct and indirect impact on customer satisfaction,employee satisfaction and employee engagement positively influence financial performance.” "The ongoing study found a one-unit increase in employee satisfaction led to a 0.31 unit increase in customer satisfaction.  In turn, a one-unit increase in customer satisfaction created a 0.28 unit improvement in financial performance." Don Schultz, Northwestern University, and James L. Oakley, Purdue University

  6. Key questions… Do you view brand alignment as a long-term investment? Are your sales people ambassadors of your brand? Have you prepared them for the task? What can you do to close any gaps?

  7. Your Organization Distribution Network Customers distribution BusinessPlanning segmentation roles competition Employee satisfaction Customer experience roles solution selling A Scenario: Current State Source: Maritz Inc

  8. Case History: Automobile Manufacturer • Participants – Dealer organizations • Challenge: • Support the brand in the marketplace • Drive unit sales • Improve on customer satisfaction through operational effectiveness • Solution: • Engage Dealers in location specific-research • Provide a business consultant to assist in making the results actionable • Reward improvements in sales and customer satisfaction • Results : • Increase in sales by participating Dealers • Reduction in warranty service “comebacks” • Reduction in sales consultant turnover

  9. Case History: Petroleum Company • Participants – Dealers and employees • Challenge: • Increase sales of fuel • Improve on customer satisfaction scores • Solution: • Provide detailed guidelines for location appearance and cleanliness • Provide location-specific research • Reward employees for living the vision • Reward Dealers for increased sales • Results: • Sales increase by participating Dealers • Increase in customer satisfaction scores

  10. Customers A Scenario: Desired State Distribution Network Sector Relationship/Experience Experience Brand Strategy Solution Knowledge Messages Experience Initiatives Resources Technology BusinessPlanning Experience Tools Source: Maritz Inc

  11. What drives behavior? WorldatWork, 2006

  12. What rewards best drive behaviors? “…four psychological processes can increase the perceived value of tangible non-monetary incentive awards over and above cash-based awards…” The SITE Foundation, Scott Jeffrey, University of Toronto study

  13. What rewards best drive behaviors? • Evaluability • Separability • Justifiability • Social Reinforcement

  14. Case History: Pharmaceutical Company • Participants - Sales Reps and Managers • Challenge: • New product launch • Highly competitive market • Solution: • Address participant demographics • Identify reward preferences • Deliver effective communications • Generate excitement, sustain focus • Results: • Highly successful launch • Sustained growth over time

  15. The Importance of Program Design “Due predominantly to design and administration problems, only 30% of implemented employee awards and recognition programs are considered successful.” Daniel Yankelovich Poll “Properly constructed incentive programs can increase performance by as much As 44%.” The SITE Foundation Study

  16. Human Performance Technology Model Cause Analysis Intervention Selection & Design Performance Analysis Mission Strategy Goals DesiredPerformance Lack of: • Consequences,Rewards, Incentives • Data, Information & Feedback • EnvironmentalSupport, Resources Tools • Individual Capacity • Motives &Expectations • Skills & Knowledge • Appraisal System • Career Development • Communications • Culture Change • Compensation andReward System • Information System • Staffing • Training • Job/Work Design& Others Gap OrganizationalEnvironment ActualPerformance Implementation &Change Management Evaluation Source: Human Performance Technology Model, ISPI, Human Performance Technology Institute.

  17. ROLECLARITY REWARDS & RECOGNITION VISION&STRATEGY HUMAN PERFORMANCE MEASUREMENT & FEEDBACK COMPETENCE & CAPABILITY Design: tailoring solutions by answering 5 Questions… Source: Maritz Inc

  18. Case History: Life Insurance • Participants – Sales Representatives • Challenge: • To motivate a greater number of Reps • Fund the rewards from incremental performance • Traditionally rewarded top performers only • Solution: • Provide individual sales goal • Provide performance feedback • Results: • Expected performance from top performers • The mid-level performers accounted for a majority of the total sales improvement

  19. Structure - Moving the Majority A 5% performance gain from the middle 60% yields over 70% more revenue than a 5% shift in the top 10% Based on a 2003 study called “Shifting the Performance Curve” by the Sales Council of the Corporate Executive Board A Level Maintain and Grow C Level Accelerate Growth or Evaluate For Reassignment B Level Accelerate Growth Number of employees Sales/revenue Performance

  20. Case History: Pharmaceutical Company • Participants – Field Representatives & Managers • Challenge: • Overall management of the reward process across divisions • Duplication in rewarding top performers for the same effort • Rewarding only financial measures • Solution: • Introduce a process for identifying behaviors of top performers • Prioritize key behaviors and develop metrics • Provide a multi-year approach that tracks overall performance by individual and rewards improvement • Results: • Year-over-year program continues to evolve in identifying and rewarding the most desired behaviors

  21. Case History: Office Furniture Manufacturer • Participants – Dealer Sales Reps • Challenge: • Research identified sales reps as most influential • Capture discretionary time and effort of sales reps • Increase sales rep product knowledge • Solution: • Developed an integrated certification program • Included on-line and audio modules • Completion of program rewarded with group travel for both recognition and further learning • Results: • Double featured product sales

  22. And, if design is important… implementation is more important! “80% of sales reps’ perceptions of company leaders are influenced by their relationships with their direct supervisors.” Gallup Organization “Without on-the-job reinforcement, Reps lose 87% of training within one month.” Sales Executive Council research

  23. The Light Bulb Effect Distributor Sales Manager Distributor Sales Reps Field Sales Distributor Principal

  24. Managers Are the Critical Link • The value of a front-line manager is in his/her ability to lead, coach and motivate the sales force. • Front-line managers should be involved in every • stage of program design, launch and implementation. • Front-line managers are a critical link between your organization and your sales force….your ambassadors of the brand!

  25. Hopefully you gained from this session… • The link between internal satisfaction and business success • That the sales force can be your greatest brand voice • A well-designed solution is important, but implementation is critical

  26. Questions & Answers For additional information, please contact Maritz Inc: (877) 4 MARITZ or maritz.webinar@maritz.com To download a copy of today’s presentation, please go to: http://www.maritzincentives.com/ambassadors