Beyond the Sale

Name: Beyond the Sale
Author: Kersten Kelly Brunner

Identify various methods to measure success in sales

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Course: On-Demand

In these lessons, you'll learn some standard structures for financial compensation and how that can vary based on your sales approach. You'll gain perspective on methods of measuring success in a sales role beyond standard sales metrics. The following lessons will also demonstrate the value of assessing yourself and reaching your performance potential. You will also be introduced to various methods to enhance your skills and convert your efforts into a singular strategy. Salespeople are traditionally paid based on their performance. Sales performance can be measured in quotas or a target that is predefined and can measure both individual and team achievements. Typically, quotas are measured as numbers of units sold, profit goals, revenue generated from sales or a combination of these. They are usually set by management and create a measurable objective. As a salesperson, you might be paid based on how well you reach your goals. Because of the structure, some salespeople may make six figures one year and then only make five the next. Many income structures for salespeople include a smaller base pay with a commission, a bonus, or both paid out at various intervals throughout the year. A commission is a variable compensation, calculated as a percentage of products or services sold. This money is typically paid on a more regular basis and is a standard tool for transactional selling. A bonus is an incentive payment for meeting a certain threshold of sales within a given timeframe. Bonuses are usually paid quarterly or annually and include individual, team and organizational contributions. These financial benefits can influence how much pressure goes into each sale. A salesperson's income is usually a combination of these forms of compensation and it's critical to plan a budget accordingly. The only income a salesperson can truly count on is their base pay. A salesperson needs to be knowledgeable about their selling potential, target market and pipeline to accurately plan their income threshold throughout the year. Each of these factors influence the potential earnings that can be made. With this knowledge, salespeople must estimate how much overall income they will have and when they will have access to it. This can help you understand how much money you can spend each month giving your fixed and variable income. For example, if you have a fixed income of 25,000 annually, and you can calculate a variable income of up to 60,000, you should create a budget that allows you to spend an average that considers the variable may fluctuate throughout the year. If you lose back-to-back sales and you notice the impact on your finances, you might put more pressure on the next buyer to close a deal. This is when maintaining an authentic approach is key. The desperation for financial gain may cause feelings of impatience, which may lead you to practice unconventional methods to earn a sale. This will then compromise your ability to build a relationship with your customer. If you're more focused on making a quick sale, your perspective customer can pick up on this and it's possible you'll lose business opportunities.

Beginner Provider : Kersten Kelly Brunner 7 Lessons · 15m in Arabic, German, English, Spanish, French, Portuguese, Chinese

Course Description

These lessons will demonstrate the standard financial compensation structures for salespeople and how that can vary based on the approach. It gives perspective on methods of measuring success in a sales role beyond that of standard quantitative sales metrics. These lessons explain the value of assessing oneself and the process to ensure that a salesperson is always at their top performance potential. You will learn various methods to build sales skills and how to align your sales and marketing efforts into a singular strategy.

What You'll Learn

Compare sales compensation structures including quotas, commissions, and bonuses
Develop strong sales skills to improve performance
Measure success in a sales role beyond standard quantitative metrics
Apply self-assessment and reassessment to stay at top performance
Align sales efforts with marketing into a single strategy
Maintain authenticity in sales and marketing to portray the brand as genuine

Key Takeaways

Salespeople can be compensated through varied financial structures such as sales quotas, commission, and bonuses, which can differ based on the sales approach.
Success in a sales role can be measured beyond standard quantitative sales metrics.
Regular self-assessment and reassessment help ensure a salesperson stays at their top performance potential.
Transparency in marketing and sales helps portray a company and brand as authentic.
Sales and marketing efforts can be aligned into a singular strategy.

Frequently Asked Questions

What does this course cover?

It covers standard financial compensation structures for salespeople, how to measure success beyond standard quantitative sales metrics, methods of self-assessment to stay at top performance, ways to build sales skills, and how to align sales and marketing into a singular strategy.

What financial compensation structures are discussed?

The course compares various structures of financial compensation including sales quotas, commission, and bonuses, and explains how compensation can vary based on the approach.

What skills will I gain from this course?

The course focuses on skills such as Inside Sales Management, Sales Concepts, Sales Metrics, Sales Principles, Sales Training, and Selling Techniques.

How does the course address authenticity?

It explains how transparency in marketing and sales portrays a company and brand as authentic, and includes lessons on staying authentic through self-assessment and reassessment, cultivating authenticity in future sales, and aligning authenticity in sales with marketing.

What lessons are included?

Lessons include Quotas, Commissions, and Income; Professional Outcomes; Staying Authentic Through Self-Assessment and Reassessment; Cultivating Authenticity in Future Sales; Developing Strong Sales Skills; Aligning Authenticity in Sales with Marketing; and a Test Your Knowledge assessment.