Business and Financial Tips

Posts Tagged ‘Trans Union’

Have your past incentive programs been a disappointment to both you and your salespeople?

The dangling of the proverbial carrot is an ancient art that is commonly understood to be at the heart of human behavior, psychology, motivation, and, in particular, business. Manufacturers and distributors commonly use this technique with their channel partners in an effort to add unique motivational value to move specific products or services.

The reason this technique has stood the test of time is because, for the most part, it works! At times, however, elements of the technique are executed improperly. Sales incentive programs under perform or fail as a result.

The monetary values of incentives are often not the critical factor in motivating salespeople to succeed. Take my own example. I was fortunate to work in an industry that provided an unending supply of incentives and awards for over achievement. I knew that, if I won every trip, every TV, every incentive offered, the money would come with it!

For me, the money and the goodies were not my primary motivation. My philosophy was simple; “If you win all the incentives there are to win, you couldn’t help but be at or near the top every time.” Corporations use incentive programs to drive behavior and I agreed to play the game and conform to their wishes; what gets rewarded, gets done.

The problem, from the vendors’ point of view, is that not all salespeople are motivated the same way. Consequently, not all incentive programs work. Why is that? From my experience, I’ll make the following observations:

• The 80-20 Rule: Twenty percent of the salespeople make eighty percent of the sales and profits. Too often, sales incentives – perhaps in an effort to be fair – are geared to the entire sales force or VAR channel. The risk in a program like this is that the glove that fits everyone, in the end, fits no one. Enlightened marketing strategists know that the top twenty percent are already motivated. Simply put, a strategy that’s geared to light a fire under the next twenty percent – the next logical group – doubles the business in a more cost efficient manner.

Annual Credit Report Ratings

An annual credit report contains information about your borrowing and payment history. It also contains information about your employment and residence address listed. Any name that has been used in the past will be included in the annual credit report, as well as any loan that you applied and been rejected. Most importantly, your annual credit report will contain your social security number and credit beacon score. Lenders, potential employers and property owners all look at this report. Identity thieves also prey on personal information in your credit report yearly to defraud credit card companies, banks, credit companies and other businesses.
031 115 U.S. Navy-N-5152P-002 Chris Glennon, a consultant for USAA

To obtain an annual credit report is very simple. All three major credit reporting agencies allow every individual consumers one free annual credit report per year. Equifax, Experian, and Trans Union have combined a Web site for this purpose and with access to online computer you can easily navigate your way to a free annual credit report.

Equifax, Experian and Trans Union will also honor a written request for an annual credit report and telephone requests. The waiting time to receive an annual credit report you use this method as short as one week and for six weeks. Credit services online is very fast and also appealing to some consumers by offering incentives such as free credit report once a year to publish a monthly or quarterly report for you for a nominal fee. Fees and services vary between the business, and it is worth comparing them, and maybe read consumer reviews on a number of forums.

Whatever method you decide to suit your needs, the benefits are endless. Knowledge is very important in regard to your annual credit report. When applied to meet your financial goals, such as free yourself from debt, it is important to understand your credit score and that you fix the errors in the information it contains. Also organize your finances and updating of work, phone numbers and addresses can be very important to help prevent identity theft.

Check your annual credit report is key to the future of a healthy and safe for yourself and your family. Each agency or service attached sheets or pages of detailed instructions explaining exactly how to read and understand your annual credit report.