Sales force management

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Sales force management

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What is the best way to motivate a salesforce? How can you systematically design a motivation system?

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Nội dung Text: Sales force management

  1. Motivation 1
  2. Discussion Questions „ What is the best way to motivate a  salesforce? „ How can you systematically design a  motivation system? 2
  3. Three Major Determinants of Motivation „ Environmental conditions „ The firm’s management policies ƒ compensation ƒ supervision ƒ task characteristics „ Personal characteristics of the  salesperson 3
  4. Motivation Session Objectives „ understand the components of motivation  through the expectancy­value model „ relate management tools to components  of the expectancy­value model, to use in  influencing motivational levels „ consider how management style and the  use of various “tools” influence motivation 4
  5. Motivation Session Outline „ Locus of Control and Motivation „ Expectancy­Value Model of motivation ƒ what is it? ƒ Who cares? (implications of the model) „ Glengarry Glen Ross & the impact of the  sales manager on motivation „ The impact of role stress  5
  6. Locus of Control and Motivation „ Locus:   ƒ External vs. internal attributions ƒ Stable vs. unstable attributions „ Examples: ƒ External Stable: ƒ External Unstable: ƒ Internal Stable: ƒ Internal Unstable: 6
  7. The Expectancy-Value model „ Why are people motivated ƒ to initiate a task ƒ to choose a certain effort level ƒ 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
  8. 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
  9. Examples: Ej Vj Mj Level of Performance 80% 60 48 If j= $200,000 in sales 40% 100 40 If j= $300,000 in sales 10% 80 8 If j= $400,000 in sales 9
  10. 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: ƒ more pay, promotion, liking & respect, lack of leisure  time, personal growth ƒ security, sense of accomplishment, recognition,  hurting personal life „ Outcomes can have negative utility/valence „ Obviously the list could be longer & vary across  individuals 10
  11. Vj= Σ (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
  12. 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
  13. 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
  14. 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 ƒ Introduces negative outcomes ƒ Depresses expectancies „ Can motivate by trying to induce sales people to: ƒ raise expectancy (I.e. through training, encouragement) ƒ consider a negative suboutcome unlikely ƒ consider a positive suboutcome likely ƒ Add a new positive suboutcome ƒ Change their ideas about whether suboutcomes are desirable or  undesirable (vi: doomed strategy for the most part) 14
  15. 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 short­term?  Over the long term? „ How do these tools impact extrinsic motivations?  Intrinsic motivation? 15
  16. Motivators „ Positive Motivators „ Negative Motivators ƒ Commission ƒ Fear ƒ Recognition ƒ Intimidation ƒ Acceptance ƒ Revenge ƒ Respect ƒ Obligation ƒ Trust ƒ Social Comparison  ƒ Achievement (one­up) ƒ Pride 16
  17. Sales Manager Objectives & Tools „ Objectives: ƒ Increase magnitude and accuracy of expectancies ƒ Increase accuracy of instrumentalities ƒ Understand and work with valences „ Key: ƒ reduce role stress arising from role ambiguity & role conflict „ Tools: ƒ training: expectancies ƒ evaluations, reviews: expectancies, instrumentalities ƒ communication, participation: instrumentalities ƒ selection: hire SP whose Vi’s match company suboutcomes 17
  18. 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
  19. 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 ƒ expectancies:  to what extent do you believe that if you do x, y  will happen ƒ instrumentalities: to what extent do you believe that if y happens,  you’ll receive z ƒ valences for suboutcomes: how important is .. „ Quantified information is valuable at both the aggregate  level and the individual level 19
  20. Role Stress „ “A primary influence on how salespeople perform is their  perceptions of the demands placed upon them” „ “A role is a prescription: ƒ it tells you the activities and behavior that are expected of anyone  in a position „ Role partners ƒ communicate expectations ƒ pressure salespeople to meet them „ A role partner is anyone with a vested interest in how a  salesperson does the job, such as: ƒ the boss, the customers, other executives, other salespeople and  support people, people who are significant in the sales rep’s  personal life 20

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