The Spiff Blog

APRIL 27, 2023

Reflecting on this example, there are three notable hallmarks of a good incentive program : Simplicity Visibility/Transparency Appropriate Timing Let’s take a look at how each of these factors plays a crucial role in a successful incentive program: Simplicity “That’s been one of my mantras – focus and simplicity.

Motivation 75

Motivation Hiring Compensation Incentives 75

Emissary

SEPTEMBER 27, 2021

Quarterly Business Reviews (QBRs) have been a mainstay for key account management for some time. As a result, QBRs, a key milestone in account expansion and renewal, have become routine—so much so that they have become generic in many contexts. Reviews for long-term accounts should have different content than those just starting out.

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Exercises Demand Generation Agencies How To ROI 245

No More Cold Calling

JANUARY 16, 2020

It’s a lonely world for account executives. Above all, your job is to get the rocks out of the road for your salespeople—your account executives and everyone on your sales team—so they can do what they were hired to do: Sell! All of us perform our best when we are accountable and have the tools to succeed. Sound familiar?

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Referrals Sales Management Hiring Scale 328

Zoominfo

JULY 25, 2023

Business development managers (BDMs ) or account executives (AEs) act on useful leads from the SDR/BDR team to close the sale through demos, discovery sessions, and follow-up. With ZoomInfo’s MarketingOS , you can automatically target accounts that fit your ICP. Tools Defining your ICP is essential, but it can also be time consuming.

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Lead Generation Lead Rank Ideal Customer Profile Lead Scoring 130

Janek Performance Group

NOVEMBER 5, 2014

Sales Managers Tip – Incentivize your reps to get more from existing relationships A savvy sales manager should not only provide incentives for spotting new opportunities and landing new clients, but also reward sales reps for capitalizing on existing customers. Do you think you could put extra effort into revisiting long-forgotten accounts?

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Account How To Incentives Incentive 62

Sales and Marketing Management

MARCH 19, 2018

Sales teams might spend entire days servicing current accounts without doing any prospecting. Creating a service-level agreement can help solidify the roles of both parties so each knows its exact responsibilities. Establishing a division of labor between marketing and sales is crucial to generating more leads.

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Sales Qualified Lead Leads Marketing Qualified Lead Lead Generation 221

Marc Wayshak

MAY 25, 2022

They want to know that even if they start out lower (such as in a business development rep position), they can achieve higher levels of success (moving on to be an account executive, for example). Align incentives. Aligning incentives is the backbone of any successful sales management training initiative. Accountability.

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Hiring Sales Management Training Lead Gen 62

Hubspot Sales

APRIL 11, 2023

To minimize turnover, consider offering promotion incentives to the top-performing salespeople at your business. Your exact course of action will be unique to your organization. Are their non-selling activities accounted for? Toxic Cultures When examining turnover rates, you have to consider workplace culture.

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Churn Hiring Survey Hubspot 120

Product Management University

JANUARY 9, 2023

Limit what users can do with the free version, albeit valuable, but offer strong incentive to use a paid version. At some point, you might have a corporate accounts team (customer success) that requires support, but it’s miniscule compared to a direct salesforce. It’s not just the users that have free access.

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Influencer B2B Incentives Incentive 52

Sales Hacker

NOVEMBER 11, 2019

Sometimes all the emails, cold calls, tweets, and inMails in the world still won’t get the attention of key contacts at that enterprise account. If you need to quickly drum up interest in a large account and have some type of free offer or trial of your product, one tactic you need to try is LinkedIn Ads. Let me explain.

Cost Per Thousand 68

Cost Per Thousand Cost Per Click Company Incentives 68

PandaDoc

APRIL 26, 2023

So what can possibly be a better incentive than a performance-based bonus? Residual commission This commission “resides” for as long as client accounts are alive and well. Here is how a residual commission works: a marketing firm receives a large monthly client account that generates $5k in revenue.

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Commission Salary Margin Hiring 52

The Accidental Negotiator

MAY 27, 2022

To make matters worse, false negotiators sometimes have incentives to drag a negotiation on for as long as possible – for instance, if they would take heat for walking away or are waiting for a “better” counterpart to come along. Additionally, false negotiators sometimes have incentives to drag a negotiation on for as long as possible.

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Negotiation Incentives Incentive Intent 98

Partners in Excellence

JANUARY 17, 2014

As is usual this time of year, I’ve been involved in lots of discussions of incentive and commission plans–both last quarter as people plan for the new year, and now as these plans are being introduced at Sales Kick Off Meetings. and the lists go on and on.

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Incentives Incentive Commission Maximizer 91

Hubspot Sales

JANUARY 23, 2020

Spiff stands for "Sales Performance Incentive Fund" (spelled with an extra "f" for some reason in some cases). It’s a short-term, incentive-based initiative meant to motivate sales representatives. Your reps need to know what they are supposed to be doing and how they can earn the incentive. Determine the incentives themselves.

Incentives 49

Incentives Incentive How To Exact 49

Sales Hacker

MARCH 29, 2021

Other accounts might be chased by both partners and sales, which results in conflicting messages and commissions. Many PRMs, partner account mapping, and affiliate software have marketplaces in their products, but there are also freestanding marketplaces. These tools require your potential partners to create an account.

Revenue 101

Revenue How To Ideal Customer Profile Software 101

Alice Heiman

DECEMBER 16, 2020

A statement of value can be especially helpf ul to expand your circle of influence among the buyer’s stakeholders—anyone who comes onboard mid-deal will immediately understand why this deal is important and feel an incentive to push it to the next phase. . #2: Why Every Sales Team Needs to Use Mutual Action Plans .

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How To B2B Buyer Lead Rank 154

LeadFuze

JULY 7, 2023

We will explore how past data analysis, future company changes consideration, and incentive programs implementation play a significant role in goal-setting. Motivate Like a Boss: The Incentive Power Move Let’s face it, we all need a little push sometimes. Motivation is the secret sauce to achieving your goals.

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Sales Goal Churn Incentives Incentive 52

Sales Hacker

JUNE 14, 2019

You know it’s important to capture high-quality data to help you conduct QBRs , analyze your account health, review handover processes , report on your opportunity pipeline, and forecast win rates at your organization. What’s the #1 incentive you can use with your reps? Align incentives. Align Incentives.

Data 69

Data Closing Prospecting Incentives 69

Emissary

SEPTEMBER 13, 2022

Whether you’re pushing to meet targets or going for bonus incentives, it’s time to pull out all the stops, use every tool available, leverage every advantage you have, and leave no stone unturned. Review account intelligence and research for each prospect to cull out the best opportunities. . Clarify the ROI . Leverage Referrals

Sales Goal 52

Sales Goal Strategy Decision Maker Social Media 52

Xactly

SEPTEMBER 5, 2018

Watch the webinar, "How Best-in-Class Companies Approach Incentive Comp” to learn compensation best practices and see how with 13+ years of empirical industry pay and performance data from Xactly Insights is helping companies strengthen their sales compensation plans. How many of their accounts need to be educated? Online Marketing.

Examples 78

Examples Compensation Incentives Incentive 78

Hubspot Sales

AUGUST 3, 2020

In this scenario, small companies with less than 10 team members, who have an individual who is inexperienced in accounting managing finances are the ideal customers I’m looking for. These folks are currently solving this by paying a third-party accountant or using Quickbooks automatic payroll. These options are costly.

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Ideal Customer Profile Customer Demographics Exercises 139

OpenSymmetry

DECEMBER 6, 2016

While this seems like a reasonable thing to do, this practice – called shadow accounting – has some downsides. If they’re all engaged in shadow accounting, you’re losing the equivalent of one sales rep a year. Shadow accounting can’t be attributed merely to sales reps’ paranoia. Now, multiply that by a year – that’s 50 hours.

Account 40

Account Commission Compensation How To 40

SBI

OCTOBER 23, 2017

Altify @altifyinc Altify is the digital sales transformation software company, helping sales teams win the deals that matter and increase wallet share with a suite of software products that improve opportunity and account management. If you’re there to see the best marketing and sales tools, you’ll want to plan ahead. Adobe @AdobeDocCloud.

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Vendor Hoovers Lead Rank Sales Qualified Lead 140

Pipeliner

FEBRUARY 28, 2022

Develop your social media accounts. The company sent out 200 free Instant Pots to various influencers and asked them to use them with no incentives issued. You can gain more followers by liking other people’s accounts which in turn will get some liking you back. One way to help grow your fan base is to use social media.

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Social Media Retail Media Facebook 52

MTD Sales Training

DECEMBER 3, 2014

A small incentive is a useful tool to achieve higher attendance levels. For example, have the accounts manager visit their finance department to make sure the specific operations are working effectively between you. Ask research companies to find out exactly what makes your customers loyal to you.

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Customer Incentives Incentive Loyalty 120

Sales Hacker

MAY 6, 2021

The VP of Sales should possess a broader understanding of the business from a commercial perspective, and their incentives typically consist of margin, cost of sale, and other components that they have an impact on (especially if you’re watching your EBITDA for a frothy exit multiple). And this is exactly why you hired them!

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Hiring Retention B2C Demand Generation Targets 95

The Spiff Blog

DECEMBER 8, 2022

In line with the philosophy of base vs. variable incentive is the balance of team vs. company attainment that is included in their commission plans. This tends to be a pretty hot topic, but I am a big believer that most managers should hold some sort of quota or minimum expectation that they are held accountable for.

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Compensation Motivation Sales Management Strategy 71

Xactly

JULY 9, 2018

Target incentive for employees on a sales or local incentive (excluding employees on the annual management incentive plan) was around $222.7M Add base salaries amounts to the target incentives and the percentage to revenue jumps to 4.8 percent of revenue. That is some serious cash! Final Thoughts.

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Salary Compensation Incentives Incentive 53

The Spiff Blog

AUGUST 11, 2022

For example, if your organization is shifting up market and wants to dedicate more time and resources going after enterprise accounts, you may decide to increase your minimum contract size— and therefore, no longer offer incentives for smaller deals that fall outside that range. About Spiff.

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Commission Compensation Salary Remedy 77

Zoominfo

MAY 13, 2018

Consider this: a recent survey ranked ‘sales account manager’ as one of the most stressful jobs in the US, with 73 percent of respondents rating the role as “highly stressful.” This way, you build a strong pipeline that will protect you should you lose a big account or sale at the last minute. ” ( source ).

Hiring 258

Hiring Sales Qualified Lead Lead Rank Lead Scoring 258

Vengreso

FEBRUARY 10, 2022

Building in incentives for customers to refer their colleagues or business connections to you is an important part of consistently driving referrals. You may choose to give smaller incentives just for an e-introduction to referral versus a larger bonus for when a referred customer generates actual new business.

Referrals 78

Referrals Strategy Buyer Persona LinkedIn 78

Vengreso

FEBRUARY 10, 2022

Building in incentives for customers to refer their colleagues or business connections to you is an important part of consistently driving referrals. You may choose to give smaller incentives just for an e-introduction to referral versus a larger bonus for when a referred customer generates actual new business.

Referrals 78

Referrals Strategy Buyer Persona LinkedIn 78

The Spiff Blog

MAY 26, 2022

So, you’ve realized commission spreadsheets are actually evil, and that sales incentive software will vastly improve transparency, efficiency, and your personal sanity. After all, the last thing you want is to sink time and resources into a brand new sales incentive software, only to find yourself struggling to use it. Problem solved.

Incentives 77

Incentives Incentive Software Software 77

Nutshell

NOVEMBER 9, 2018

CRM platforms also make it possible for managers to track and analyze data around all the team’s accounts so that they can hone in on which follow-up strategies work and which ones don’t. Want to explore tailoring sales incentives for individual members of your team? Related: How to write a killer follow-up sequence that draws replies.

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Lead Rank Sales Qualified Lead Lead Scoring Follow-up 94

Janek Performance Group

NOVEMBER 14, 2022

They “sharpen their pencil” and grant the concession, but the client never blossoms into a significant account. ” In a downturn, this is how it typically unfolds: Leadership creates a new plan to (1) grow core deposits, (2) cross-sell, and (3) create a new incentive program. ” Mindset Over Tactics.

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Pipeline Lead Rank Lead Scoring Margin 62

The Spiff Blog

APRIL 7, 2022

Gone are the days when commission, bonuses, and incentive pay were accounted for as direct expenses. Normally, when we hear “bespoke” or “white glove”, we think premium—like a suit or dress hand tailored to your exact measurements. ERP : ERPs typically use “general ledgers” to record transactions across a set of master accounts.

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Commission Software Software Vendor 79

Apptivo

MAY 26, 2023

Sales cycle and lead time Take the sales journey into account. By combining these elements into sales forecasting with Apptivo CRM, businesses can create a more exact and personalized sales forecast that matches with the company’s specific features and takes into account the product or service portfolio’s life cycle.

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Sales Forecasts Forecasting CRM Top of Funnel 52