Monday, December 5, 2011

6 tips for creating an effective 2012 compensation plan

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December 5, 2011
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The Leaderboard 
  • Admit it: You're a micromanager!
    Although micromanaging is common, few people admit to doing it, Ron Ashkenas writes. The fact is, sometimes it's hard for managers to give people the space they need to perform. Take a minute to consider whether you've been overbearing with your team and ask for their feedback. Then, think of strategies for improving your own behavior. "It is possible to tone down this vicious cycle...," Ashkenas writes. Harvard Business Review online/HBR Blog Network (11/29) LinkedInFacebookTwitterEmail this Story
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Sales Strategies 
  • 6 tips for creating an effective 2012 compensation plan
    When developing a compensation plan for your sales team in 2012, don't just add on to last year's performance figures to develop next year's revenue goals, writes Ryan Tognazzini. Instead, study the historical performance of your sales territories and examine how your competitors are doing. "Once you've determined the key growth trends by territory, you can begin to understand the performance of the sales rep relative to an objective benchmark," he writes. Sales Benchmark Index/Sales Force Effectiveness Blog (12/2) LinkedInFacebookTwitterEmail this Story
  • How to write a deal-closing e-mail
    While in-person meetings and telephone calls are generally preferable forums for closing a business deal, a well-written e-mail can also work in some circumstances, writes Geoffrey James. An effective message should start by expressing your understanding of the prospect's problem, he recommends. It should go on to discuss the solution your company can provide and describe what sets your business apart from other organizations. Inc.com (12/1) LinkedInFacebookTwitterEmail this Story
  • 10 ways to establish trust with customers
    Customers want the organizations they deal with to communicate clearly with them and make them feel appreciated, according to research by Chris Haliburton and Adine Poenaru. To build trust with consumers, companies should use transparent pricing practices and be willing to apologize for mistakes. CustomerThink (11/30) LinkedInFacebookTwitterEmail this Story
Daily Data Points 
  • Money managers bet on higher commodity prices
    Money managers raised their bets on higher commodity prices for the first time in three weeks. Data from the Commodity Futures Trading Commission show that in the week ended Tuesday, hedge funds and other speculators increased their combined bullish positions in 18 U.S. futures and options by 0.7%. Bloomberg (12/5) LinkedInFacebookTwitterEmail this Story
  • Other News
Strategies from Sales & Marketing Management 
 
  • Why neither sales nor marketing can control the customer experience
      
    Most sales organizations subscribe to the concept of being buyer-focused, but somewhere along the way they aim to shift control of the process in their favor. It's a sign of lack of confidence and won't work long term, says John Golden, president and CEO of Huthwaite, the globally recognized sales-training firm. Instead of controlling the customer, who is the king, sales and marketing organizations need to realign themselves so that they can work together to meet the customer's needs at different junctures in the buying process. Sales & Marketing Management (12/2) LinkedInFacebookTwitterEmail this Story
3 Proven Rich-Media Strategies for Your 2011 Campaigns
Today's hyperconnected consumers expect rich, engaging experiences wherever they interact with your product or service. In this report you will learn how to use rich media to:
• Engage mobile audiences
• Create flawless website experiences
• Improve online ad performance
On the Road 
 
  • Other News
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App Update 
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Top five news stories selected by SmartBrief on Sales readers in the past week.

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SmartQuote 
The starting point is to admit to yourself that there is a possibility -- even a slim one -- that some of your subordinates view you as a micromanager."
--Ron Ashkenas, a managing partner of Schaffer Consulting, writing in the HBR Blog Network at Harvard Business Review online
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