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My previous blog, “How to become a successful salesperson?” became quite successful in my readers. I got the most number of views in a short time than all my other blogs. So I thought of penning an article on How to earn money from sales commission?
In most of the companies, salesperson’s job is subjected to more commissions and less salary. So it is important for a salesperson to know how to earn money from their commissions.
Every company has its own rules to pay commissions, some of them use difficult formula, while others make it easy for salespeople to understand and earn.
The key to growing largely on commissions needs proper planning.
Sales commission is salesperson’s highest motivation factor
If you ask any salesperson to give up a little amount of their commission for some reason, they will not be easy with you. They know that it is their main source of earning, so they will not like any unfair deductions from their incentives.
The fact is that, if you are a salesperson, you can make a lot of money from your incentives and the more you get commissions, the more you will enjoy this job.
Learn more, Earn more
“The more you learn, the more you earn.”― Warren Buffett
For each type of sales, from the exciting bazaar in India to service providers in Los Angeles, salespeople introduce their products and services to buyers and use many techniques to fulfill the desire of their purchasers. Understanding what factor motivates a buyer to buy will help salesperson to sell more.
Learn about buyer’s motivation factor
There are two main factors which make people buy a product or a service, their needs, and their desires. Need is the main motivating factor that is connected with people’s existence necessities.
For example, a person cannot stay without food, clothes, and water. But if someone wants to eat a particular burger at lunch, it becomes the desire of that person.
If a salesperson understands what factor motivates a buyer to buy, it will help to boost his or her sales figure. More sales accomplishments get a high commission in return. So now you know the secret of how to earn money from sales commission, right?
Treat your sales job like your own business
It is up to you how much you want to earn from your sales job. The higher you generate sales, the more you get incentives. So treat your sales job like your own business.
Create new strategies and ideas to close more deals and achieve more numbers. Be proactive in your approach. Do not wait for things to happen, rather move forward to get things done quicker. After all, you are the owner of your own performance and potential business.
Develop hunger to gain money
If you do not have the desire to earn more money, you may lose your sales career soon. Keep your drive to earn through your sales incentive on the top.
Some salespeople, when lose their drive to earn sales commission, they still help their customers, but their primary role shifts from sales to customer service.
Keep your motivation to earn money at high, help your customer to help yourself. “How to earn money from sales commission” is connected to your hunger to produce more sales figures.
Do not take advantage of your customers
In order to achieve more numbers, sometimes you may think to close the deals immediately. That is an unprofessional approach to make long-time customers.
When you help your customers reach their goals and meet their needs with your products or service, you will gain customers for a lifetime.
Develop survival skills
Hunt for sharks but don’t forget to develop your survival skills on small fish.
Always try to build diversification in your business. Do not just dependent on a few large accounts, rather reach out to small to medium customers and build strong and huge database.
Remember, to continue as a salesperson and keep your competition at a distance, follow the course of simple everyday survival skills that will help you to close the deals.
To conclude, ‘How to earn money from sales commission’, determined by your strategy to work with a combination of small and big customers.
Build your strong pipeline
The pipeline is something, every salesperson has to build on a regular basis. Considering the fact, in the corporate world deals do not close on an immediate basis, building pipelines becomes essential for every salesperson. Your pipeline should be 4 X of your monthly sales target.
“Keep Your Sales Pipeline Full By Prospecting Continuously. Always Have More People To See Than You Have Time To See Them.”– Brian Tracy
Focus on process, results will follow
Some sales representatives focus on earning commission so much that they forget to follow the right sales process.
Don’t worry about the results, just focus on the right process, and in the long run, you will gain big money as commission and you will have long term clients too.
To earn short term money, do not mislay your long term customers.
Identify customer’s business problems
Identify customer’s business problems, it will help you sell them on value. When you identify and help in the resolution of customer’s business concerns, you make your impression in their mind as their first well-wishers when they encounter any troubles.
Remind yourself, if you have learned steps to identify customer’s business problems and your role in resolving those, you have learned how to earn money from sales commission.
Build good relationships with your customers
Remember, people buy people first. Sell yourself to your customers before selling any products or services. When your customers are happy dealing with you, more likely they will opt for your product over competitors when they make the decision to buy.
Show your customers that you care about them, it will help you build long term relationships with them.
Customer’s success is your success
When you help your clients succeed in their goal, you earn their trust and build lifetime customers. I know many salespeople who reap the benefit of their customer’s trust for many years.
When you take responsivity for customer’s outcomes after buying your products or services, you will be the first person to get call from them when they are in any serious business problem. Hence you get the opportunity to help them in their challenging time.
More you solve your customer’s problem, your sales figures are prominent on the board and in return, you get more commission.
I encourage you to write your ideas and opinion in below comment box, which will help many other salespeople on ‘How to earn money from sales commission’