Your sales force is the backbone of your company. They are the revenue producing group, one that is usually referred to as ‘the money making machine’ of the company, and they are the ones who will either make or break a company’s bottom line.
As a manager or an entrepreneur, identifying what drives your sales force and motivating them to deliver the products/ services you’ve promised to your client is the key.
Multiple Business Owner, Coach, International Speaker, and Author of the published book, “Multiply Your Business: 10 New Marketing Realities for the Real Estate Industries” (co-authored with Gerry Robert) and an upcoming book, “The Flight Of Your Life”, Theresa Barnabei shared her time tested yet simple strategy to ensuring that sales force will fill their pipeline for ongoing revenues and profits in the Canadian Institute of Management magazine.
The Canadian Institute of Management is Canada’s senior management organization dedicated to professional development. As a member or a program participant, CIM informs and trains management professionals to be better prepared for the challenge of change.
In her article, Theresa identified the four (4) quadrants of a sales force and how as a manager or as a business owner can boost their sales force:
- Top quartile – they are the top producers and valued employees of the company that consistently secure 25% of sales volume. Although they do consistently perform well on their job, sales force belonging to the Top quartile usually performs well with or without inspiration to do so. A good manager needs to make them happy and push their ‘happy button’ by matching their reward system to match their WIIFMs or their ‘What’s in it for me?’
- Second quartile – they contributed for the 24- 50% of the sales volume and wants to belong to the Top quartile. The sales force of this group are the ones that should be coach individually, giving them time and attention, and identify what it takes for them to move in the first quartile.
- Third quartile – they secure the 51- 74% of your sales. This group will help managers recognize the greatest growth in their bottom line. A manager’s goal with this group is to move them into the second quartile, where they will continue to contribute to the profits by educating them and providing training and recognizing their full potentials.
- Fourth quartile – they are the ones who bring in 0 – 25% of the volume. They are the lowest producing section of the sales force and often made up of newbies and slow to no producers. They are usually an expense vs. profit to your bottom line. A manager must decide either release them or challenge them to produce to at least a break-even level.
Identifying sales force into these four (4) quadrants and their respective WIIFMs (What’s in it for me?) will greatly help identify those producers to those who are not. It will also help managers on how they can tap the motivating factors of their sales force.
According to Theresa, “Everyone has a WIIFM. When you tap into that, individuals will soar to fulfill what they want in this life when they have support at their back! That means that leading an organization is not about pulling people up. It is about pushing people up to be their best!”
Learn more on how to ignite the driving force of your sales force and tap into their WIIFMs HERE.
This is a useful article for managers and business owners! You are indeed an author-ity in your field, Theresa!
Founded in 1942, the Canadian Institute of Management is a professional association, certification body and academic institute for managers and leaders. As a Federally Chartered not-for-profit organization, the Institute operates through 16 chapters across Canada and has provided management development and certification to over 80,000 managers since its founding.
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