PAY UP! - RICHARD MILLER

Richard Miller - "Building Brands & Selling Stuff"

Pay Up!
In this episode, we talk about some of the greatest challenges in setting compensation plans for our teams and in particular – our sales forces.


​What’s fair? What works? What motivates? What doesn’t?

SETTING THE SCENE
This show is focussed on customer facing matters – Sales and Marketing. 

At IBGR, we are building the largest Global Business Community in history to bring you practical and pragmatic advice from business operators who do or have done what you are doing.

Tune in to the show for the following thoughts and insights.

WHY IS THIS IMPORTANT AND HOW DOES IT AFFECT YOU?
We cover:
Why do some plans work whilst other plans don’t?
Compensation mistakes to avoid.
Retainer, commission or both?
Stay flexible – a plan is not a contract.

WHAT YOU NEED TO KNOW
About 1/2 of businesses mix between base salary and variable pay for sales compensation. 18% use a mix of 80 percent salary and 20 percent commission. 

16% use a 70 percent salary, 30 percent commission ration. 
14% reported a mix of 60 percent salary and 40 percent commission.


WHAT YOU NEED TO DO AND HOW YOU NEED TO DO IT

• Build Compensation Plans
• Design Parameters 
• Pay for Performance 
• Combination base salary and pay for performance should still leave the individual financially uncomfortable
• Keep it simple
• Use metrics you can track
• Understand the Difference Between Top Line and Bottom Compensation
• Align Metrics with Business Goals

Written by - Richard Miller – Brand Director, Crisp & Co.
Business insight, creative content and strategic communication specialist.

Richard started his first business at the age of 14 and has thrived on creating and building entrepreneurial opportunities ever since.
He began his advertising career as Agency Sales Executive for TV network Channel 10 in 2006. 

Experienced in both media sales and buying, Richard was responsible for multi-million-dollar media accounts as National Media Manager for Iceberg Media before co-founding Crisp & Co. in 2009 (formally Crisp Advertising). 

Taking a pragmatic and results focussed return on investment approach has established Crisp & Co. as the go to creative and communications agency for local and national businesses seeking expertise in business insight, creative content and strategic communication. 

With a lifetime of experience operating small to medium businesses and working closely with both local and national brands, Richard is well positioned to take a holistic view of a full marketing and sales plan with a keenly trained eye on creative concepts and communication strategy.

Along with wife and work colleague Siobhan Miller, Richard also co-hosts the podcast series Mad Man & The Hospitalian; interviewing highly successful professionals from business, marketing and hospitality backgrounds around Australia, discussing the highs and lows of their careers and asking the ultimate question; ‘what is your definition of a fruitful life?’.

Find out more about Crisp & Co. here www.crispand.co and listen to Mad Man & The Hopitalian wherever you get your podcasts. Connect with Richard on LinkedIn

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