Our consultants combine firm performance, compensation market data, and talent strategies to understand the quantitative and qualitative information that can be used to align sales and firm performance for maximum effect. We work with our clients to build effective sales organizations.
Optimize Sales Effectiveness
Our market intelligence provides firms with information that can be used to align sales incentives, set effective goals, and compare financial performance to market peers. Our sales solutions provide granular insight that enables clients to competitively position their sales professionals within specific markets and products. Under our guidance, firms are able to identify, address, and resolve issues such as reduced market share, under-performing staff, and misalignment of pay with performance.
Our team works to improve sales effectiveness to optimize firm performance through analysis of related elements depending on firm, which could include:
- Branch Costs and Profitability Statistics
- Client Assets and Resulting Revenue per Broker
- Competitive Recruitment Pay Levels and Deal Structures
- Detailed Performance and Reward Benchmarks by Market
- Per Capita Compensation and Productivity Levels
- Sales Organization Design
- Trainee Performance and Attrition Rates
We have significant experience assisting organizations with objective evaluations of the individual performance of their employees against internal and external metrics. Our deep understanding of financial services and experience in benchmarking enables us to provide firms with analytics by sector, including wealth management, retail banking, consumer & commercial lending, across different product types, including loans, deposits, revenue, and by role, such as sales managers or sales representatives.
Our unique focus on the financial services industry enables us to provide an objective evaluation of a firm’s level of efficiency versus business and labor market competitors. We not only provide actionable data, but also partner with our clients to advise them on the interpretation of data and work together on implementation strategies and execution.
Working with the world’s largest financial services clients, we have helped firms navigate challenging performance periods with realizable goals. Our scorecard measurement experts enable clients to establish strategic, measurable goals based on actual market conditions for their employees. We believe that using realistic scorecards to evaluate performance is essential for firms because it ensures alignment between activities and achievement of strategic goals.
Sales Commission Plan Design
To execute a sales strategy successfully, your sales goals and quotas must strike a careful balance between on-the-ground market realities and the desire to drive exceptional growth. Using a wealth of market data on actual quota levels and quota design factors, we help clients develop highly-targeted and achievable performance objectives that align with business strategy and territory potential.
We assist market leaders with balancing pay and performance in commission plans. Our experience enables us to ensure that plans do not overpay for low production levels or underpay for high production levels. Our consultants utilize a unique, fact-based approach, designing plans that are anchored in actual market compensation and performance data. We design commission plans that are appropriate for the unique aspects of each sector of financial services and product type.
Talent Assessment & Selection and Engagement
We help our clients attract and retain top sales talent, which enables them to meet their sales objectives. This helps clients reduce turnover rates and improve hiring practices to support clients' business strategies.
- Talent Assessment & Selection: We help sales leaders develop job architectures, job profiles, career paths, and candidate testing procedures to guide recruitment efforts. To learn more about this process, please click here. Our talent team has a comprehensive set of adaptable tools that change with your business as your needs and target markets evolve. For more information, please click here.
- Engagement Strategies: Our talent team helps clients with continuous engagement strategies, providing leading indicators that identify engagement challenges and drivers to scientifically improve sales performance. For more information, please click here.
Identify Market Opportunities
Performance driven organizations require the discipline of market benchmarks to keep them pointed at the most attractive opportunities and ahead of competitors. We provide sector-specific, granular market opportunity data that enable managers to make truly actionable decisions. Our quarterly market share and revenue opportunity studies are used for market segmentation, account relationship management, sales force management and resource allocation, branch network optimization, and overall firm performance tracking.
- Account Relationship Management and Advisory: Set specific targets to identify the addressable wallet and establish focus lists and a client segment list, then monitor, evaluate and adjust performance as needed. We provide insights on the approach and structure of account management across the competitive landscape in order to maximize the value of the function within different business models. We assist in the utilization of internal and external information to support and are capable of outsourcing part of this function in order to focus resource on revenue production.
- Aggregate Firm Performance Tracking: Monitor overall firm revenue performance against peers and measure progress toward strategic targets.
- Branch Network Optimization: Restructure branch network size and location to match revenue and profit opportunities.
- Marketing Strategy and Sales Potential Estimation: Segment the target market to identify pockets of greatest revenue opportunity to help identify the addressable wallet. Additionally, we can help clients predict the total sales opportunity from a customer, which helps firms decide on the sales strategy for their customers such us target for new sales, up-selling, or retention-focused programs. By grouping customers with common traits, we can more effectively align the sales force to meet customers' needs and improve a company's value proposition.
- Sales Force Management and Resource Allocation: Modify sales force and support staffing levels as well as identify skills to fit the market opportunity and the firm's revenue optimization strategy to prioritize accounts accordingly.