Sales Compensation as a Strategic Business ToolSales Compensation as a Strategic Business Tool

March 1, 2005

1 Min Read
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Originally Published MX March/April 2005

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With a sales compensation management system in place to streamline the tactical aspects of SPM, the medtech company can maximize the value of its automation investment by taking advantage of the new capabilities it provides. Several key steps will lead to more-effective performance management.

Step 1: Define and implement compensation plans that are aligned with basic corporate goals. Customized plans will motivate sales reps to pursue performance targets that support company goals for revenues, profits, and growth in the customer base.

Step 2: Streamline sales-related processes through system integration. SPM added to customer relationship management, sales- force automation, and other front- and back-office data-based management systems provides a foundation for detailed reporting and analysis that, in turn, can be used to further improve performance and profitability.

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