There’s nothing worse than investing money in training a sales rep just to have them leave you for another company. To prevent your best sales reps from taking their talents to another company, you need to AVOID these 10 mistakes at all costs.
1. Regularly change your compensation plan
Sales reps want a compensation plan in writing with meaningful goals and performance objectives. If you keep changing the rules of the game, they’re going to leave you.
2. Invest nothing in marketing
Any good quarterback knows they’re only as good as their game plan. For sales reps, this means having a solid marketing plan in place that will help increase brand recognition. Not only will this keep your top sales reps from bolting; you’ll also increase sales with a good plan.
3. Make them spend a lot of time completing reports and other non-selling activities
You didn’t hire your sales reps to be paper pushers. You’re wasting your money if you don’t have your best reps selling. There’s also a good chance they’ll be less happy and find another job.
4. Fail to provide proactive product management and effective support
It’s going to be an uphill battle for your best sales reps if you don’t regularly provide effective product management or support. Sales reps need an edge when it comes to selling to new and existing customers. You can help give them that edge by providing proactive product management and effective support.
5. Don’t provide best practices, resources and reference material
Your sales reps need supporting materials to help close sales. Without these resources, it’s like going into a boxing match with one hand tied behind your back. Give your sales reps everything that they need to close sales. Regularly talk with them to see what they need.
6. Pay commissions late
No one likes getting their money late. If you want to keep your sales reps happy, you need to pay them their commissions in full on time.
7. Imply that selling is the easy part of a company’s success
Your sales reps work hard for you. You never want to imply that selling is easy. If it were easy, you wouldn’t worry about your best sales reps leaving for other companies. Recognize the hard work that your sales reps do for your company.
8. Penalize the sales team for post sales issues
No sales rep likes getting penalized for post sales issues. It’s better to eat the cost yourself than to penalize your sales team. In the long run, you’ll save more money because you’ll keep your best sales reps longer.
9. Avoid coaching
The best sales reps are always looking for ways to become better. You need to provide them with the necessary training and support so they can become better producers. Compensating them is only half of the equation. Your best sales reps will also need training.
10. Hire sub-par sales reps and keep poor performers on board
Hiring sub-par sales reps and keeping poor performers creates more work and pressure for your best sales reps. Never go for the quick and easy hire. It’s better to take your time and hire the right person. Also, know when to let underperformers go.