Appointment setting incentives: How to structure, always keep a carrot within reach

Here is an appointment setting comp plan suggestion.

Before we get to the video/transcript, I wish to add a few points.

As  a manager, your key number is cost per meeting. Ya, there are requirements in terms of profile, level of authority and qualification, but lets assume qualified meetings.

You want a comp plan that decreases the cost per meeting, as the caller incentives go higher and higher.

You want your appointment setters to feel the connection between doing the right things and what shows up in their paychecks.

Video is 3 minutes 15 seconds.

Transcript:

Hi, this is Scott Channell, author of Sell the Meeting, Powerful Sales Scripts Sell the Meeting and a few other sleep inducing books.

Todays topic? What is the best incentive program for those that set sales appointments and discovery calls?

This is a topic that requires a deeper dive but let me give you some key points and the structure of what I think is the best comp system for those that set discovery calls.

Your comp system should encourage the behaviors that tend to not only book more meetings, but encourage more profitable accounts.

Some key concepts:
1. Your comp plan should reward those that consistently book 10 meetings a week on average, a lot more than those that consistently book 2 meetings a week on average. A 20 or 50 dollar a week difference will not encourage behavior change among lower producing reps.

2. The faster the incentive hits the paycheck, the more it encourages higher probability behavior.

3. The fastest way to demotivate a caller is to make the size of their paycheck dependent upon whether someone else does their job.

Here is the comp system I recommend.

Let’s assume that the callers get a base pay and that five to seven meetings a week is reasonable.
The first meeting booked per week earns no incentive, as the callers have a base pay.
The 2nd meeting booked per week earns $25.
The 3rd earns an additional $40.
The 4th gets another $75 and the 5th gets $100 on top of all that.

So someone that books on average 5 meetings a week, sees an extra $240 hit their paycheck. Those that book only two, see $25.

If they book more than 5 meetings a week, those meetings go into a bank that can be applied to any week that they book less than five.

So if someone books 8 meetings in a week, they get paid for five and three go into the bank.
If next week they book two meetings, they take 3 from the bank and get paid for five.
At the end of month any meetings in the bank get paid out at the highest rate. In this case $100 per. There is no cap.

Callers have every incentive to be as good as they can be.

On top of that the best systems, in my opinion have a qualitative element based on revenue or gross margin. Callers that tend to generate meetings that lead to $5,000 accounts should not be paid the same as those whose meetings generate $50 thousand or $500 thousand dollar accounts.

This is a topic that requires much more time, and is covered in detail in the Sell the Meeting book, but hope this got you thinking.

For more ideas or to contact me go to Scott Channell with 2 t’s, 2 n’s and 2 L’s dot com.
Good luck.

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