Niche Focus: Sales Professionals

Compensation for sales professionals is way up these days...according to the 2005 Compensation Survey compiled by Sales and Marketing Management magazine. Base compensation...and bonus levels are both rising.

There are three reasons for the compensation increases: extremely competitive pressure, a slowly improving economy, and growing sales volume. Most industry experts expect these trends to continue through the balance of 2005.

Sixty percent of sales executives saw a salary increase, 45% received bigger bonuses, and 71% expect more of the same in the coming year. Total average compensation for executives was $145,978...with base salaries of $96,774 and bonus levels at $49,204.

Sales executives can become great clients for financial advisors. Not only are their compensation levels handsome, yet they can be great advocates and sources for strong introductions/testimonials. This seems to be true because they are familiar with the sales process, and can "be on the same page" as many financial advisors. Moreover, sales executives can provide entry portals to referrals to other executives within their own corporation.

How does one find sales executives? Here are three possible sources:

1. Sales Marketing and Executives International, www.smei.org has chapters in most states, and many urban areas. Start building your network by joining the local chapter and attending the monthly meetings.
2. Chamber of Commerce. Many chambers seem to have a higher proportion of salespersons who attend the meetings, than they do business-owners.
3. Google. When in doubt...Google! Google provides a surprising number of sales executives to contact. Use Google-Local, and type in one of the following phrases: national sales manager, regional sales manager, or district sales manager. Restrict your search by enclosing the search terms in quotation marks.

The downside to sales professionals as investment clients is that a certain number can fall into the Spending Trap...Upscale Home, Upscale Car, Upscale Lifestyle...and Downscale Savings. (I know a few financial advisors in this same category.) It's funny how one's spending can always rise to meet one's income...regardless of the levels.

Comments

[Sales Leads]

I think that people, in general, would fall into that spending trap as their incomes increase. Most people that work hard to get a higher income want the luxuries as reminders of their own personal success.

[Nike Free]

Mean I just read through the entire article of yours and it was quite good but since I'm more of a visual learner,I found that to be more helpful.

[Onitsuka Tiger on sale]

A man can fail many times, but he isn't a failure until he begins to blame somebody else.