November 3rd 2010

Sales Compensation Resources.

I needed to review Sales Compensation resources for a recent pricing panel I was on.  I was looking for definitions of compensating for value selling . (Which is most likely determined at the point of persuasion.  This point is sometimes at the commitment stage but could as easily be at the demand creation or order fulfillment stages)  Despite this importance , only Nagle lays out a method to reward value (margin  contribution) selling.   In no particular order:

Compensating the Sales Force. A practical guide to designing winning sales reward programs. David j. Cichelli . 2010 . ISBN 9780071739023.  McGraw Hill puts out really good stuff. Thorough, well researched and put into a easy to read style.  If you want an all in one book this one will do it. Lots of good examples. I especially liked his chapter on plans for the difficult roles, which was quite helpful

Sales Compensation Handbook. Stockton B. Colt (ed) . Towers Perrin. 1998. ISBN 0814404111.  Another good book from Amacom. Good layout, easy to find your way around and put together by a company that knows its stuff.

Compensating the New Sales Roles. How to design rewards that work in today’s selling environment. Jerome A Colletti & Mary S. Fiss. 2001. ISBN 0814471064. Another excellent Amacom resource. It addresses how the use of the Internet has changed how you should set up your sales comp plans.  They also stress that a comp plan supports, not drives, the sales strategy.  Good easy to ready to use format. I liked the sales comp audit they included – very useful.

The Successful Sales managers Guide to Business to Business Telephone Sales. Everything you need to start, reposition and manage a telesales department.  Lee R. Vechten. 1999. ISBN 1881081095.  Still a classic and so useful if you have a telesales department. I found his section on selling the plan to management to be so relevant.  Vechten also points out some of the folks that need rewards the are often forgotten, including customer service reps, and how to do it effectively.

Managing Channels of Distribution. The marketing executives complete guide. Kenneth Rolnicki. 1998. ISBN 0814403352.  Amacom seems to have a lock on really good books in this space.   This is a whole book dedicated on what is often only part of one chapter in other sales management books.  Easy to read, thorough and well researched, the author talks just like he is working in the space . He gives you the full answer to deal with any and all problems you may have in the channel. I know they work as I have used many in my history. But he gives you lots more!  There is even a well done section on ethics.

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