SFE Fund Finder Sources of Funds for Sales

SFE Fund$ Finder – Sources of Funds for Sales Improvement Efforts Source Possible items to pull from Marketing Budget Stop campaigns that are not working; stop/reduce using external agencies (create content yourself); drop poorly performing events; leverage field marketing slush fund $$; use offshore resources for contract piece work; stop printing brochures; move to Just-In-Time or Rep self-printed collateral production. Sales Budget Use allocated “improvement initiative” funds; reduce car/expense/supplies allowances; reduce funds to external contractors or agencies; reduce SKO frequency (or hold virtually); do more online social selling (less travel). Training Budget Reallocate training funds; stop printing manuals; leverage webinars more (reduces travel costs); leverage sales leaders as trainers; use new social video tools and do in-house; push more self-study; leverage online slideshare/blog content. Fundraising Stop SPIFFS; Start a SPIFF but take all or a portion of incentives for sales improvement; ask for voluntary contributions from salary, stock or incentive compensation; split your stock; do an IPO; get some silent investors; try crowd-funding. Compensation Levy a temporary tax on commissions/bonuses; reduce on-target earnings for everyone; increase variable/lower fixed compensation; modify payment cadence (for example, move from weekly to quarterly); introduce gamification for prizes/recognition in lieu of cash; provide economy-of-scale perks in place of compensation. Human Resources Sales/mktg. support Reduce headcount (sales, mktg. , HR, legal, finance, operations); cancel open positions; shift to lower $ resources (move from field to inside sales, use offshore or independent contractors, etc. ); don’t mis-hire; outsource hiring (or parts of it); leverage existing customers and channels more; use more interns. Reduce telecom costs (move to a standard or pay a flat rate telecom subsidy); use more cloud-based services like SFDC, Asana, Expensify, Linked. In, etc. ); eliminate ad-hoc reporting; do more virtual meetings; implement hoteling; close field offices (telecommute instead); use Linked. In/Gmail instead of Outlook; use online apps instead of Office; move more to So. Lo. Mo or BYOD technology; implement route-planning policies; enforce target profile pursuit; ensure