Name: What Your CEO Needs to Know About Sales Compensation By Mark Donnolo
SKU: 9780814432273
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What Your CEO Needs to Know About Sales Compensation Summary

What Your CEO Needs to Know About Sales Compensation: Connecting the Corner Office to the Front Line by Mark Donnolo

The way a company designs its sales compensation program has a greater impact on behavior and results than any sales training, sales management method, or leadership message. Yet most senior executives fail to see the big picture, leading to fundamental misalignments between sales strategy and organizational goals. Featuring insightful interviews with Fortune 1000 C-level executives and real lessons from the field, this essential book reveals the tough questions leaders should be asking about how sales incentives drive the business. It provides valuable thought models and a Revenue Roadmap identifying the four major competency areas and 16 related disciplines that must connect for an organization to grow profitably. Last but not least, readers will find an interactive report card they can use to grade their own compensation plans. Sales compensation powers the performance of the entire business. What Your CEO Needs to Know about Sales Compensation casts a spotlight on how leaders at all levels can leverage the strategic power of incentives to reach the ultimate goals of their organization.

About Mark Donnolo

MARK DONNOLO has worked as a leading sales effectiveness consultant for more than 25 years, helping Fortune 1000 companies including UPS, LexisNexis, Office Depot, AT&T, and KPMG. He is managing partner of SalesGlobe, a leading sales effectiveness consulting firm, and a founder of SalesGlobe Forum.

CONTENTS Acknowledgements xi Introduction 1 Chapter 1 Your Revenue Roadmap: Driving Your Sales Strategy with Sales Compensation 7 Aligning to the Strategy 10 The Four Layers of the Revenue Roadmap: Connecting Your Sales Strategy and Compensation 14 Insight 16 Sales Strategy 17 Customer Coverage 18 Enablement 20 Setting Your C-Level Goals 23 The Sales Compensation Diamond: The Facets of Evaluating and Designing a Sales Compensation Program 30 Determine Target Pay 32 Calibrate Pay Mix 33 Create Upside Potential 34 Establish Performance Thresholds 34 Develop Measures and Priorities 34 Define Levels and Timing 35 Design Mechanics 35 Align the Team 36 Set Objectives and Quotas 37 Institute the Governance Process 38 Operate the Program 39 Evaluate the Program 39 5 Questions You Should Ask Your Team About Sales Strategy 40 Chapter 2 Lapdogs, Dobermans, and Retrievers: Motivating the Breed that You Need 41 What Breed Do You Need? Aligning Sales Roles to Revenue Flows 44 The Three Strategies for Revenue Growth 45 Sales Roles and Their Canine Counterparts 47 The Big Picture on Sales Roles 59 The Six Dimensions of Sales Roles 61 5 Questions You Should Ask Your Team About Sales Roles 64 Chapter 3 The Reverse Robin Hood Principle: Differentiating Top Performers 66 The Building Blocks of Sales Compensation 69 Base Salary 70 Target Incentive 71 Pay Mix 75 The Reverse Robin Hood Principle: Upside Potential 81 Factors Determining Upside 84 Thresholds 89 Thresholds Aren't for Everyone 90 To Cap or Not to Cap 92 5 Questions You Should Ask Your Team About Pay Mix and Upside Potential 95 Chapter 4 Performance Metrics: Measure Twice, Pay Once 96 Performance Measures3 (Cubed) 103 Measures 104 Level 107 Frequency 109 Performance Measure Pitfalls 114 Using Measures Without Clear Line-of-Sight 114 Measuring at the Wrong Level 115 Measuring What Can't Be Controlled 115 Measuring on a Sliding Percentage Scale 116 Using Conflicting Measures 118 Selling Incentive Plan Real Estate to Marketing 119 Misaligning Bookings and Billings and Losing Urgency 121 5 Questions You Should Ask Your Team About Performance Measures 122 Chapter 5 Big Deals: Aligning and Motivating Strategic Account Sales 124 Defining Strategic Accounts 126 Sales Potential 128 Strategic Value 129 Understanding How the Customer Makes Decisions 131 Centralized Process 131 Preferred Provider Process 133 Decentralized Process 136 Promoting a Solution Sale 138 Motivating Creative Sales Roles 141 Discern Between Creativity as an End and Creativity as a Means to a Sales Result 142 Consider Fewer Directive Incentives and More Incentives with Latitude 143 Understand Motivators for Highly Cognitive Sales Roles 145 Involve Creative Sellers in Creating Their Own Goals 146 The Sales Crediting Balance 147 Measuring Mega Deals 151 5 Questions You Should Ask Your Team About Strategic Accounts 157 Chapter 6 A Quota Quandary: Setting Equitable and Profitable Sales Goals 158 Some Challenges with Quotas 161 The Forensics: Do You Have a Quota Issue or a Sales Effectiveness Issue? 165 10 Success Factors for Better Quotas 171 See Beyond a Single Number 171 Remember the People 172 Involve the Right Team 172 Don't Get Lost in the Legacy 173 Get a View from the Bottom-Up 173 Move Beyond History 174 Balance Market Opportunity with Sales Capacity 175 Fit the Methodology to the Account Type 177 Make Your Approach Scalable 177 Don't Over-, Over-Allocate 178 From History to Opportunity 179 5 Questions You Should Ask Your Team About Quota Setting 182 Chapter 7 Managing Sales Management: Understanding Roles and Rewards 183 Sales Managers Aren't Just Big Salespeople: What Does It Take? 185 They Understand How to Lead 187 They Strategize the Growth of Their Organization 188 They Are Creative at Planning and Systematically Solving Customer Problems 189 They Are Effective at Coaching and Developing Their Teams 190 They Sell in the Right Places 192 What Motivates Managers? 193 Role and Recognition 196 Career Map 198 Investment 199 Rewards 201 Sales Compensation 202 Long-Term Incentives 203 A Few Sales Compensation Ideas for Sales Managers 205 Establish Pay Mix with a Longer View 205 Do a Simple Roll-Up 205 Look at Team Participation 206 Shift Measures Down the Income Statement 207 Get Objective 207 5 Questions You Should Ask Your Team About Motivating Managers 208 Chapter 8 Making Change: Communicating and Implementing the Sales Compensation Plan 209 Change Management Key Steps 213 Start Strong 214 Craft the Change Story 216 See the Organization's View 220 Get the Change Forecast 222 Leverage the Learning Modes 225 Follow the Process 227 5 Questions You Should Ask Your Team About Making Change 231 Chapter 9 The Role of the C-Level: Getting Involved in the Right Way 232 C-Level Involvement in the Sales Compensation Process 235 Providing Strategic Direction 236 Getting Involved in the Process 240 Reviewing, Approving, and Supporting the Program 241 Asking Good Questions 244 5 Questions You Should Ask About Your Executive Involvement 248 Chapter 10 Your Strategic Sales Compensation Report Card: Grading Your Plan and Taking Action 250 Grade Your Plan 251 Time for Action 252 Glossary 257 Index 265

Additional information

Sku

GOR009045789

ISBN 13

9780814432273

ISBN 10

0814432271

Title

What Your CEO Needs to Know About Sales Compensation: Connecting the Corner Office to the Front Line by Mark Donnolo

Author

Mark Donnolo

Condition

Used - Very Good

Binding type

Hardback

Publisher

Amacom

Year published

20130109

Number of pages

288

Prizes

N/A

Cover note

Book picture is for illustrative purposes only, actual binding, cover or edition may vary.

Note

This is a used book - there is no escaping the fact it has been read by someone else and it will show signs of wear and previous use. Overall we expect it to be in very good condition, but if you are not entirely satisfied please get in touch with us

What Your CEO Needs to Know About Sales Compensation Mark Donnolo

What Your CEO Needs to Know About Sales Compensation by Mark Donnolo

Summary

What Your CEO Needs to Know About Sales Compensation Summary

What Your CEO Needs to Know About Sales Compensation: Connecting the Corner Office to the Front Line by Mark Donnolo

About Mark Donnolo

Table of Contents

Additional information

Customer Reviews - What Your CEO Needs to Know About Sales Compensation