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WELCOME Giving the Best to the Best Methods to evaluate your top performers
May 24, 2012
Introducing the moderator…
Jeri Meola
President
2
Introducing our panelists…
Larry Morgan
Owner
3
Introducing our panelists…
Steve Mihalik
Chief Revenue Officer
4
“Sales - An Operational Perspective” May 24, 2012
Stephen Mihalik
Chief Revenue Officer
an operational perspective
It’s A Process
Do Not Let Choices – Confuse Your Process
manage with the numbers – it’s the ultimate motivation
Achieve Optimization
Stay Focused – Get To The Next Level
Manage The Achievements
Pipeline Value
Milestones Achieved
Close Rate
Margin
Up Sell Value
Presentation Delivery
$250,000
10 Pricing
30%
40%
20,000
Basic
$350,000
15 Pricing
35%
50%
40,000
Advanced
Level 1 Level 2
“a numbers game” - cliché or truth?
Math is Math
Prospecting calls Close Rate for Needs-Analysis Meeting 3%
Percentage of needs-analysis meetings that produce solutions-meetings 70%
Percentage of Solutions Meetings that will seriously consider a pricing-proposal 70%
Percentage of closing an account after pricing 50%
Prospect Calls 15
Needs Analysis 0.45
Solutions Meetings 0.315
Pricing Meetings 0.2205
Won Accounts 0.11025
Account Size 40000
Annual $1,146,600.00
Numbers Do Not Lie
Manage Metrics – Metrics Manage People
$
thank you
New thoughts on an old topic-
Maximizing the effectiveness of sales compensation
Larry Morgan, MAIR, SPHR, GPHR
Orion HR Group, LLC
Five critical points
1. Set clear expectations
2. Know the market
3. Use metrics
4. Differentiate top performers
5. Pay quickly and correctly
1) Set clear expectations
Use the KISS principle
Avoid unintended consequences
Align with organization values
Don’t use “flavor of the month/year” plans
Pay for hard work or results?
Challenge but achievable
SPIF’s suggest a plan design flaw
Degree of influence and control factors
Windfalls and shortfalls
2) Know the market
Have solid data
Avoid free surveys
Address pay mix issues
Define competitive position
Examine “total reward” package
Define your “EVP”
3) Use metrics
Define target and upside potential
Show details
Allow cost / sales modeling
Provide detailed plan
4) Differentiate top performers
Can your top salespeople earn more than your CEO?
Define the behaviors of what gets done and how it gets done
Use the 2x factor
Examine your hiring and promotion practices
Avoid “peanut butter spreading”
5) Pay quickly and correctly
Clearly define payment schedule and process
Define clawbacks
Online calculations and summary
Pay within 30 days
Avoid “shadow accounting”
Clear communication
Use visuals and graphics
Panelists
25
Steve Mihalik
Larry Morgan Jeri Meola - Moderator
President
952.939.4310 (Direct)
612.840.0766 (Mobile)
President
952.210.0742 (Direct)
Chief Revenue Officer
952.358.7106 (Direct)
763.567.1364 (Mobile)
SMEI Professional Certifications
o Certification available
Certified Professional Sales Person
Certified Marketing Executive
Certified Sales Executive
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To become a member…
www.smeiminnesota.org
Next Event
Marketing to Women –Dori Molitor
27
Thursday, June 28 (7:30 – 9:00) Location: The Woman’s Club of Minneapolis
