3 Benefits of Practicing Transparency With Your Sales Team

Even when it’s hard to swallow, the truth is always better than a lie. This goes for just about everything in life, but it’s especially true in business.

No one wants to be lied to or misled, particularly when matters of pay are at stake. As a result, it’s generally best to be transparent with your team about issues like commissions.

Although the basic moral decency of telling the truth is the biggest reason to not keep things from your sales force, below are three more benefits of practicing transparency with your sales staff:

1. Transparency Builds Teams

When it comes to team-building, transparency goes a long way in strengthening bonds. When you’re transparent with people, you build trust. When team members can trust you, the company, and each other, they are more likely to work together as a unit.

When there’s no transparency, your employees will likely adopt an every-man-for-himself mentality. This can be hugely detrimental to the success of your company and the satisfaction of its customers.

2. Setting Goals Becomes Easier

Transparency also tends to bring about more realistic goals. When you’re mired in half-truths, no one knows what’s going on. As a result, goals may be set that are totally unrealistic because they were based on lies.

3. There Are No Questions About Pay

If you aren’t transparent about pay, you’re bound to run into trouble. For example, the mortgage industry often relies on a commission structure to incentivize performance. If your sales team only has your word to buy instead of actual numbers using mortgage commission software, the potential exists for some degree of cloudiness in what is communicated about what a sales professional has earned or is expected to earn.

In this situation, tools like mortgage commission software would have made the situation easier for everyone as they would have added transparency to the process. Your sales team could view their commission totals, the numbers are clear for your sales staff to see and employees can view reports from previous quarters to compare numbers for accuracy.

Read a similar article about commission statement layout here at this page.

The Best Ways to Sell in a Weak Economy

Selling in a down economy is a task that no sales rep wants on their plate. Unfortunately, it’s just the reality of the sales environment sometimes. With that being said, people are still buying products and services to a point, regardless of what the economy is doing. Instead of getting disheartened, it’s a good idea to change up your sales tactics. Here are some of the best tips for selling in a down economy:

Take An Aggressive Approach

The act of selling in a down economy won’t happen if you just wait for the sales to come to you. You might have to take a more aggressive approach to sales than you might normally. This means chasing down prospects and generating as many leads as you can. Make sure to go for every sale, rather than dwell in the less than ideal situation you find yourself in.

Try More Palatable Pricing

Adjust your pricing to fit the economy. People may not want to buy your product or service outright, but the subscriptions and financing plans might be more tenable. If you’re able to take the hit, offering discounts is another good idea. You could even offer discounts through referrals. For instance, if a customer is able to get two other prospects to sign up for a subscription, that customer can get some of their months free. Speaking of referrals.

Don’t Be Afraid to Reach Out

It’s a good idea to network with your return customers and see if they don’t mind referring you to parties that might be interested. Remember, the more promising leads you can find the better.

Don’t Give Up and Keep it Simple

Sometimes the best advice is to just stick with what you know and go for it. Sometimes running through your script and continuing to work your sales process will pan out. If it isn’t, then you know it’s time to switch up your tactics and try something new. By taking the challenge in stride and facing it head on, you’ll give yourself the best opportunity for success.

Read a similar blog about sales commission here at this page.