Sales Force Management

Reviews
Shared by: vixycn
Stats
views:
15
rating:
not rated
reviews:
0
posted:
10/30/2009
language:
ENGLISH
pages:
0
Motivation 3/2/99 1 Discussion Questions What is the best way to motivate a salesforce? How can you systematically design a motivation system? 2 Three Major Determinants of Motivation Environmental conditions The firm’s management policies compensation supervision task characteristics Personal characteristics of the salesperson 3 Motivation Session Objectives understand the components of motivation through the expectancy-value model relate management tools to components of the expectancy-value model, to use in influencing motivational levels consider how management style and the use of various “tools” influence motivation 4 Motivation Session Outline Locus of Control and Motivation Expectancy-Value Model of motivation what is it? Who cares? (implications of the model) Glengarry Glen Ross & the impact of the sales manager on motivation The impact of role stress 5 Locus of Control and Motivation Locus: External vs. internal attributions Stable vs. unstable attributions Examples: External Stable: External Unstable: Internal Stable: Internal Unstable: 6 The Expectancy-Value model Why are people motivated to initiate a task to choose a certain effort level to persist in a task Expectancy Principle: salespeople choose a level of effort based on the expected payoffs of alternative effort levels Most popular model of motivation (at least among sales force researchers) 7 Expectancy-Value Model in Notation Mj=Ej x Vj where:  Mj=motivational drive to achieve level j of performance (e.g. sales, number of new accounts etc.)  Ej =beliefs about the effort to performance linkage: perceived chances of achieving level j of performance given effort  Vj = overall subjective utility (valence or value) of achieving level j of performance 8 Examples: Ej Vj Mj 48 40 8 Level of Performance If j=$200,000 in sales If j=$300,000 in sales If j=$400,000 in sales 80% 60 40% 100 10% 80 9 Valence/Value: Vj Valence is a composite of the utility you derive from the suboutcomes (consequences) that accompany achieving level j of performance These might include: more pay, promotion, liking & respect, lack of leisure time, personal growth security, sense of accomplishment, recognition, hurting personal life Outcomes can have negative utility/valence Obviously the list could be longer & vary across individuals 10 Vj=  (Iij x Vi) Vj = expected overall utility to an individual of achieving performance level j Iij = beliefs about the performance to suboutcomes linkages: the individuals subjective probability that achieving performance level j would create suboutcome I (instrumentalities) Example: 30% chance that selling $300K (performance level j) would get one a promotion (suboutcome I) Vi = the utility an individual derives from suboutcome I (e.g., a promotion) Note: this can be negative 11 That’s nice, but who cares? Nobody thinks like this (it’s too complicated) But model holds up well in field testing (good “as if” model) Explains up to 40% of variance in performance 12 Expectancy-Value Model Advantages Model is a handy way to structure a messy question Forces you to project o each individual’s underlying beliefs (expectancies) and needs/wants (values) Different people can exhibit the same level of motivation for very different reasons Nice vocabulary to talk about motivation 13 Implications for How to Motivate  No reward is motivating if it is out of reach (low expectancy)  Raising the goal (performance level j) often depresses motivation Introduces negative outcomes Depresses expectancies  Can motivate by trying to induce sales people to: raise expectancy (I.e. through training, encouragement) consider a negative suboutcome unlikely consider a positive suboutcome likely Add a new positive suboutcome Change their ideas about whether suboutcomes are desirable or 14 undesirable (vi: doomed strategy for the most part) Glengarry Glen Ross  what is the impact of management style on the components of the expectancy value model?  What motivational “tools” are used?  How do these tools impact motivation in the short-term? Over the long term?  How do these tools impact extrinsic motivations? Intrinsic motivation? 15 Motivators Positive Motivators Commission Recognition Acceptance Respect Trust Achievement Pride Negative Motivators Fear Intimidation Revenge Obligation Social Comparison (one-up) 16 Sales Manager Objectives & Tools Objectives: Increase magnitude and accuracy of expectancies Increase accuracy of instrumentalities Understand and work with valences Key: reduce role stress arising from role ambiguity & role conflict Tools: training: expectancies evaluations, reviews: expectancies, instrumentalities communication, participation: instrumentalities selection: hire SP whose Vi’s match company suboutcomes 17 How to Motivate  Define each employee’s motivating factors and provide an environment that incorporates those factors  Praise performance  Address poor performance  Set goals & clearly communicate expectations  Share your vision and include your team in creating it 18 Measuring Components of the Model  May be done informally for small sales forces, but beware of biases (e.g. we believe what we want to believe; we think everyone else is like we are)  periodic surveys can be conducted to quantify each component of the model expectancies: to what extent do you believe that if you do x, y will happen instrumentalities: to what extent do you believe that if y happens, you’ll receive z valences for suboutcomes: how important is ..  Quantified information is valuable at both the aggregate level and the individual level 19 Role Stress  “A primary influence on how salespeople perform is their perceptions of the demands placed upon them”  “A role is a prescription: it tells you the activities and behavior that are expected of anyone in a position  Role partners communicate expectations pressure salespeople to meet them  A role partner is anyone with a vested interest in how a salesperson does the job, such as: the boss, the customers, other executives, other salespeople and support people, people who are significant in the sales rep’s 20 personal life Role Stress (continued)  Role stress is like a disease; most reps suffer complications of role stress  Why? Sales is at the boundary of the firm; salespeople are boundary spanners, which means lots of role partners Salespeople often have to be creative; find solutions; reconcile needs A sales reps performance affects performance of lots of other people Sales reps personify the cruel voice of the marketplace (scapegoat- kill the messenger) Time and resource constraints necessitate tradeoffs between role partners’ expectations 21 Role Stress (continued)  Day after day, salespeople grapple with the messages their role partners send them and the pressures role partners put on them.  Two things create role stress (create problems that eventually will make the salesperson miserable): Perceived Role Conflict Perceived Role Ambiguity 22 Perceived Role Conflict:  you feel that the demands of your role partners are incompatible. To make one happy, you have to upset another (perceived).  Upshot: misery & poor motivation 23 Perceived Role Ambiguity:  You feel you don’t have the information to cope with your job demands don’t know how to do a task don’t know what role partners expect don’t know how your performance is being evaluated don’t have clear objectives SUM: unsure how you’re doing and what to do next 24 How to reduce Role Stress  Communicate! Give feedback!  Even bad news is better than news  Salespeople must have accurate expectancies & instrumentalities  Training and encouragement: increase expectancies for desired levels of performance- people who believe they can, often do  Accept that some role stress is normal (even desirable)  but be especially alert for dysfunctional levels of role stress in inexperienced people 25 Sales Manager Atmosphere Creation  Traditional Approach Authoritative “management” Emphasis on rewards the manager gives out: pay promotion recognition of achievement  Leading to: Motivation to work harder: intensity, persistence 26 Non-traditional atmosphere  Participate leadership  Emphasis on intrinsic rewards & motivation  people work because selling satisfies them with: challenges pride in serving customers pride in skills  “Warm Culture” informal sense of shared values identify with company long-term employment 27 Motivating  A motivator is one who can understand an overall goal and inspire others to make a personal commitment to this goal  5 ways to provide a motivating environment Participation: involvement in decisions that affect the team Environment: climate for success, creativity Recognition: giving credit, praise, rewards Knowledge: having it, communicating it Style: use appropriate style for each situation: coaching, supporting, delegating, directing 28

Related docs
Motivating the Sales Force
Views: 315  |  Downloads: 49
Compensating the Sales Force
Views: 75  |  Downloads: 18
Sales Management
Views: 1820  |  Downloads: 298
Sales Force Strategies in the Global Market
Views: 37  |  Downloads: 8
Selecting the Global Sales Force
Views: 22  |  Downloads: 6
Management Features of Sales Force Automation
Views: 26  |  Downloads: 4
Sales Force Automation Software
Views: 23  |  Downloads: 2
Sales Management
Views: 208  |  Downloads: 0
Organization of Sales Force
Views: 848  |  Downloads: 72
premium docs
Other docs by vixycn
Yamaha motor viet nam co
Views: 0  |  Downloads: 0
YAMAHA MOTOR CORPORATION,CHINA
Views: 0  |  Downloads: 0
X1 SHAPE MOTOR
Views: 0  |  Downloads: 0
WIPO-IDB IP RYD 07 SMART-TURBINE
Views: 0  |  Downloads: 0
WINTON MOTOR RACEWAY PTY
Views: 0  |  Downloads: 0
Windshield Wiper Motor Replacement
Views: 0  |  Downloads: 0
Wind Turbine
Views: 0  |  Downloads: 0
WIND TURBINE VISIT
Views: 0  |  Downloads: 0
Wind Turbine Troubleshooting and Repair
Views: 0  |  Downloads: 0
Wind Turbine Troubleshooting and Repair(1)
Views: 0  |  Downloads: 0