It's getting harder to sell, even though expectations for salespeople are rising.
That's the message of the annual survey from research firm CSO Insights, which interviewed 1,200 chief sales officers in an effort to identify key trends in sales compensation and management.
Though companies are enjoying a fairly good recovery post-recession and have some cash sitting in their coffers, they are still cautious about spending, so hiring at many firms is still frozen.
At the same time, salespeople have it harder. With customers becoming more knowledgeable, its up to the sales teams to stay one step ahead of the game and know even more about their prospects' business situations and issues. The survey also indicated that sales managers plan to assign even higher quotas next year, and they're looking for answers, not excuses.
"The big thing salespeople need to do is do the prep and stop operating through your memory," said Barry Trailer, managing partner at CSO Insights and a co-author of the report. "The technology you have at your disposal does work -- lead generation, lead nurturing systems -- so start using the stuff."
If you don't, you may find yourself lagging behind.
Performance management at most companies is also changing. If you are late logging deals for the quarter, or exceeding discount levels, commission may not get paid out, affecting your take-home quite heavily.
Career Takeaways
1. Share your best practices with your team and follow a definite sales process. "Those things haven't changed," said Trailer. "You just need to up your game."
2. Working hard is the only solution: Compensation is down 5% but quotas are up 11%, according to the survey. This may not be the best time to try and switch jobs, even if find yourself slogging too hard at your current one.
3. Take on the work with a smile: The survey found that responsibility is the key element for most managers in determining compensation.
Write to Shareen Pathak
