Every successful leader knows that sales growth becomes possible when the organization’s vision drives the culture. For many financial institutions, the drive to achieve sales growth can easily be misinterpreted as the organization’s vision. When this happens, selling becomes the vision and service becomes lost. It doesn’t matter what industry you’re in either. If your organization’s vision is not visibly focused on service, no amount of effort and expense at creating a dynamic, results-based sales culture will bring long-lasting growth or success.
A best practice for driving growth is to rally your leadership team around a three-dimensional lens for what sales growth looks like. The practice emphasizes the significance of knowing a) how a selling strategy will impact employees, and b) how a commitment to their success will drive the organization.
1. Deeper relationships drive sales growth
Most sales-based employees are motivated by money. This means sales incentive plans play a critical role in achieving growth goals. But, an incentive plan will never fix or replace poor sales
and service behaviors. Exceptional sales and service behaviors are what deepen relationships with customers. Does your team have exceptional sales and service skills?
2. Increased sales activities drive sales growth
If you have a sales incentive plan for your sales team, or are thinking about creating an incentive plan, be sure it includes goals at the activity level and does not simply reward results. When you reward the consistent effort of asking for referrals and setting appointments, your sales team understands that the organization values the development of individual’s work toward mastery. The result of mastery of any skill is results. This focus also ensures appropriate behaviors for both sales representatives and sales managers.
3. Sensible scrutiny drives sales growth
The best time to do a sensible scrutiny of a sales incentive plan is before you release it. Your money-motivated sales team will inevitably look for ways to maximize their financial reward. This often translates to them finding creative ways to ‘beat the system’ and break your incentive budget. You want their enthusiastic participation to work in your favor, not against you. Moreover, putting in place tracking mechanisms and monitoring systems will demonstrate your commitment to behaviors that match your core values.
This three-dimensional lens helps leaders demonstrate the value of service excellence over sales goals. When an organization has won at service excellence, their success with sales growth is unstoppable.
Center for Practical Management helps companies achieve organizational goals and behavior change initiatives through tailored consulting services, leadership coaching, employee skills training and marketing services. Learn more at www.cf-pm.com
Center for Practical Management is a strategic business partner with Raddon, a Fiserv Company. Learn more at www.raddon.com