Conversations with Industry Providers: Infotrax

Sep 30, 2020 9:40:40 AM / by McKinley Oswald

To view the full video of Sean and McKinley’s Masterclass click here. 

The direct sales industry is full of powerful companies that help direct sales companies grow and achieve their goals. As part of our sales enablement platform, Verb integrates with several of these companies and finding unique synergies with them has allowed us to serve our mutual clients in powerful ways, together. This series of the Direct Sales Masterclass will feature conversations with thought leaders throughout the industry, sharing some of the successes we have seen with our clients. This week’s conversation features Sean Smith, Chief Revenue Officer at Infotrax.

 

Technology and Compensation Trends that are Impacting the Industry

When Infotrax was founded over 20 years ago, direct sales companies were mainly concerned about getting commissions right. Infotrax quickly became a go-to resource for companies looking for compensation plan and commission engine support. Fast forward 20 years and the current trends are much more focused on taking the genealogy data and moving progressively forward. The current focus is much more on leveraging the data and enabling the field to intelligently use this data to build their organization and in the process, help grow the company.

 

 

So, what are successful companies focusing on with their compensation plan and sales data to help build momentum? There are healthy things coming from the recent FTC directives, mainly with the focus turning to customer acquisition. The current environment requires a real product that will help bring on real customers. And in turn, providing compensation that will drive the appropriate behaviors focused on customer acquisition.

 

“If you are paying compensation and you don’t know what you’re compensating, you are giving money away.”  - Sean Smith

 

Successful companies are asking themselves these questions:

  • How do we do promotions and incentives that focus on customer acquisition and retention?
  • How do we drive the field to be happy to bring in customers?
  • How do we put in a compensation plan that will reward the right behaviors?

Much more of the focus has turned to establishing a large customer base and distributor base instead of having a large compensation base. And, most Infotrax companies are making small compensation plan changes monthly. And, using product promotions to incentivize the behaviors that focus on customer acquisition. Some of this is driving promotions through getting free product or acquiring more customers through product discounts. All in the effort to build a strong customer base.

 

Leveraging Technology to Enable the Behaviors Your Compensation Plan is Pushing

Most of the most successful independent distributors are experts in the area of creating and maintaining relationships. 10 years ago, there was some hesitancy among direct sales companies to adopt technology. The fear was that by moving to a mobile-based business you would damage the ability of your field to build and maintain personal relationships. Trending to hard online raised fears of removing person-to-person selling.

 

 

But now, technology can push people to create and foster relationships. These fears were unfounded. And with the rise of social media and smart phones, the world has turned to building relationships through technology. The technology is actually critical in connecting with people and providing sales enablement tools to grow a successful business.

The technology should help you know when a customer cancels their autoship, when a new enrollment occurs, or when a prospect engages in a video or e-mail that you sent them about a product sample. Instead of the fear of damaging relationships, the right technology is helping people be closer than ever before.

 

 

“We have several shared clients who have tripled their revenue in the last few months using our combined technology platforms.”

– Sean Smith

 

What has led to this massive growth and momentum? With the current pandemic, people have more time on their hands. This has led to being open to new opportunities or trying products recommended by a friend. The Verb sampling platform has integrated with Infotrax to provide this very opportunity. Whether it is the sampling program that provides buy links to the customer and follow-up notifications to the business builder or the app feed providing key business insights, the unique synergies of our two platforms can enable your salesforce to maximize technology and drive the correct behaviors.

 

3 Tips for Start-Ups

Both Verb and Infotrax work with companies entering the direct sales space in a start-up phase. Our industry experience has enabled us to help these companies succeed. By strategically using technology combined with a sales enablement strategy, companies can get started correctly and maximize the opportunity in front of them.

<insert Video 4>

We have several shared clients that we have seen get off to a fast start and quickly enter a momentum phase. What is it that these companies are doing to achieve early success?

  1. Experienced Executives: Whether it is an industry consultant or an experienced executive, all successful start-ups lean on individuals with industry experience to help them get started right.
  2. Sufficient Funding: The old adage of “however much money you think you’ll need, you better double that” rings true in direct sales. Getting the right technology and products to get started and then supporting that growth requires sufficient funding.
  3. Consumable and Valuable Products: Your company has to have consumable and repeatable products that customers will purchase on a regular basis. These products have to add value to someone’s life.

The companies that check these boxes typically have the solid foundation that is required to succeed.

Verb and Infotrax have worked together for decades to support our shared clients. More than ever, the new digital age requires the right technology stack to support your field and help you drive the behaviors that will help you succeed.

 


 

Topics: Business, Marketing, Best Practices, Sales Enablement, Sampling, Masterclass, McKinley Oswald, Leadership, Disrupt, Team Verb, Infotrax, Sean Smith

McKinley Oswald

Written by McKinley Oswald

President of Global Sales for Verb

Lists by Topic

see all

Posts by Topic

see all

Recent Posts