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