Business Planning & Account Management There are two stages to business planning, the first is to develop a process. This should be based on key information about your accounts, the responsiveness of your customers to promotion, their accessibility and the optimal working patterns of your sales team. In many respects, this is the easy part.
The second part of business planning is to embed the culture in your organisation so that this year’s plan is not something that gathers dust until next year’s review. Business plans should be living documents, things that get dog-eared in the car with constant use.
At 14 Four Analytics, we have extensive experience of creating planning templates and, more importantly, rolling them out to the sales managers and sales representatives in a way that embeds the process, making it live. To do this we work extremely hard on the ‘WIFM’ (What’s in it for me?’) and make sure we sell the process as well as your reps sell your products.
Bonus & Incentive Schemes It is critical that the behaviours you reward align with those you are asking your team to carry out in the business planning process yet we have often seen incentives that are at odds with these aims. We have over 20 years experience of designing bonus and incentive schemes for sales representatives and their managers from straightforward sales versus target to complex schemes involving multi-factorial measurements.
We can audit your scheme and tell you whether you are rewarding your best performers or just those with the easiest targets, then suggest ways to make improvements.
If you are going to maximise the investment you make in bonus payments, you need to make sure everyone know what they need to do to earn more - and they need to be reminded of it on a regular basis. We can help you to market your scheme and provide regular updates for your sales people to help maintain focus.