lsa17: carrots and sticks - the right incentives for local media sales (tronc)

7
Carrots and Sticks The Right Incentives for Local Media Sales February 28, 2017

Upload: local-search-association

Post on 20-Mar-2017

162 views

Category:

Marketing


0 download

TRANSCRIPT

Carrots and SticksThe Right Incentives for Local Media SalesFebruary 28, 2017

INTRODUCTION

2

Moderated by:

Gregg Nell, Director of Digital Marketing Services

tronc, inc. (Tribune Online Content)

15 years of media sales experience

13 years of sales management/leadership experience

• Managed teams of 6-36 across various print/digital products

Open Forum – Feel free to ask questions and be part of the conversation!

TODAY’S DISCUSSION

3

Carrots – How do you motivate your team to succeed?

2 levers available: Reward and Recognition

Main Reward – Compensation Plan

Ask yourself – does our comp plan reward the right activities?

Is it clear, fair and motivate top performers to achieve best results?

Will it drive results for company initiatives?

Most importantly, will a rep know what a sale means to them?

TODAY’S DISCUSSION

4

Carrots – How do you motivate your team to succeed?

2 levers available: Reward and Recognition

Recognition – Almost as important as $$

Keep success visible in the office and via team emails

High-Fives, spot rewards, even a plastic trophy can create revenue!

TODAY’S DISCUSSION

5

Sticks – Ideas to keep the pressure on the team

My Preference – Indirect Pressure…

What is indirect pressure?

Weekly Sales Meeting – first item, cover revenue results

Reverse 80/20 Rule

Lead by example – in the field training is everything

“Praise in public, correct in private”

SALES CONTESTS

6

“Significant Others” ContestThe greatest contest that you cannot win.

Idea: Each rep provided an email address to receive weekly contest updates

Points based on many sales activities along with new business wins

Gift Card to winner and runner-ups significant other, they choose!

Share a Successful Sales Contest - I’ll go first:

Any creative/successful ideas to share?

QUESTIONS &DISCUSSION