As I mentioned in last week’s blog, I had the privilege of speaking at the CASRO Management Conference this week in New Orleans.  By the way, if you run a research agency and haven’t been, you need to put it on your calendar for next year!

In addition to speaking, I also had the opportunity sit in on all the other sessions and panel discussions.  Interestingly, about half of the topics revolved around marketing & sales!  At a market research event?

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This is part 3 of a 3-part series to help answer a few important questions for those firms in the Market Research industry that are thinking about hiring their first sales rep.

In part 1, we discussed the advantages and disadvantages of Inside vs. Outside sales rep.  In part 2, we talked about the Hunter vs. the Farmer role.  In this post, it all about the money…

Question #3: How to compensate salespeople?

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Harpeth Marketing has launched two new services this week…

The Lead Builder Program™, built on a series of Lead Generation and Lead Nurturing activities, provides Market Research firms with the opportunity to outsource much of their marketing & sales efforts for less than the cost of a full-time employee.  Our goal with this program is to deliver to our clients a steady stream of “project ready” sales leads.  Details at www.LeadBuilderProgram.com.

The Sellers Reality™ helps our clients to make sure they’re not looking through “rose colored glasses” when making decisions about their firms and the environments in which they compete.  We help them understand why their current clients buy from them, why lapsed clients stopped buying and what their competitors are up to.  Learn more at www.TheSellersReality.com.

I’ve worked with several research firms in the past year that made the commitment to hire their first sales rep.  That’s a big step for most firms… and to be successful with it, there are three key questions that need to be answered before the new rep comes on board.  [This is the first of a 3-part series to help answer those questions.]

Question #1: Inside or outside?

The decision for your first sales rep to be inside or outside is not an easy one – the implications are many.

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Every day… you get up, go to the office, collect some data for your clients, interpret that data and give them some feedback to help them do their jobs better.  Yeah, a little over-simplified, but you get my drift.

So, here’s the question… are you doing that same thing for yourself?  Particularly with your marketing & sales as a way to help you do it better?

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In trying to build our businesses, we often get so wrapped up in working on the bigger marketing & sales initiatives (e.g. social media strategy, advertising campaigns, etc.) that sometimes, the simple little things just pass us by.  So, to help with that, here are six simple marketing & sales ideas to get you thinking in that direction:

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Remember back when you were 5 or 6 years old and you and a sibling or next-door neighbor would be fighting over the newest toy… “It’s mine!” “No, it’s mine!” No, it’s mine… gimme!” And back and forth it went… until your mother stepped in to mediate the dispute.

Well, if you work for a firm with more than one person responsible for sales – especially if they are compensated for new business growth – then unless you’ve got a very structured and manageable way to keep leads and clients separate for each rep, you’re going to end up with that same 5-year-old tug-of-war in your office.  And it ain’t pretty!  But there’s a fairly easy way to fix it…

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Regardless of your sales philosophy or sales processes… virtually no sale has ever taken place that didn’t start out as a ‘sales lead.’  Those leads are developed and nurtured… and with some perseverance and a little luck, they eventually become clients.  That truism means that Lead Generation should be one of the primary strategies for every firm’s business development program.

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