The Spiff Blog

JULY 20, 2023

Most organizations recognize that their sales commission process isn’t perfect. Companies aren’t ignorant of this problem– many are trying to improve their commission process, as evident by the recent surge of businesses hiring sales compensation managers ( source ). You face frequent, urgent disputes.

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The Spiff Blog

OCTOBER 6, 2022

One wrong commission payment. That’s all it takes for a sales rep to jump ship and take their skills elsewhere. This article will show you how the right commission plan execution can retain your employees, reduce customer churn and increase trust between internal teams. . Prioritize a positive sales culture.

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Crunchbase

JUNE 17, 2022

The author is an expert in their field and we are honored to feature and promote their contribution on the Crunchbase blog. Your sales team drives your company’s revenue with its lead generation efforts. However, sales teams tend to have high turnover rates ( 34% on average ). 4 things to include in a sales compensation plan.

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The Spiff Blog

DECEMBER 29, 2022

Today, we’re exploring a few ideas: The evolution of commission tracking software. The Evolution of Commission Management Solutions. Like the telephone, commission management solutions have undergone a similar transformation. Long before Excel spreadsheets and computers, we tracked commission pay through manual bookkeeping.

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The Spiff Blog

SEPTEMBER 7, 2023

As a sales leader, you already know that effective sales performance management isn’t just setting lofty sales targets and then pushing your team to achieve them. These pillars include organizational alignment, robust reporting, ongoing professional development, incentive compensation, and sales enablement.

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The Spiff Blog

AUGUST 11, 2022

Sales commission plans constantly change to reflect shifting business priorities, unstable market conditions, new product releases, and more. With these changes, businesses typically provide reps with something called a change of commission letter– or, sales commission agreement letters. Commission plan.

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The Spiff Blog

SEPTEMBER 1, 2022

If you’ve worked in sales, revenue operations, or finance for any amount of time, I don’t have to tell you how important sales compensation is. You already know the right sales compensation plan can motivate your team, improve their performance, and boost overall job satisfaction. Current Sales Compensation Benchmarks.

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The Spiff Blog

JUNE 1, 2023

Organizations must be strategic when designing sales compensation plans. The goal is to strike a careful balance between incentivizing sales performance and protecting the company against financial crisis. A sales clawback clause is more than just a financial insurance policy for an organization.

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The Spiff Blog

DECEMBER 22, 2022

These functions often include sales, sales enablement, marketing, finance, and customer success teams. However, for a RevOps team to be effective, it must have a well-defined org chart or team structure in place. Having a well-defined revenue operations team structure has a number of benefits.

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The Spiff Blog

AUGUST 4, 2022

The quick fixes and long term solutions you need to fix your broken sales compensation processes. If you’ve worked in RevOps or Finance for any amount of time, you already know traditional sales compensation processes are broken. Most companies get sales compensation wrong. After all, you’ll always have sales reps to pay.

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Mr. Inside Sales

JUNE 6, 2020

What’s the biggest mistake sales reps make with prospecting or cold calling? They call with what a client of mine once called, “commission breath.”. You know, that desperation sales people have when they finally get someone on the phone. Stop practicing poor sales skills and commit to getting better on each call.

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The Spiff Blog

JANUARY 19, 2023

It goes, “The only consistent aspect of sales commission is change.” Over the past four years, I’ve talked to hundreds, maybe even thousands, of people about sales compensation. Compensation changes and changes to commission plans can happen for a number of different reasons. Do they feel heard?

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LeadFuze

JUNE 26, 2023

Whether you’re a small startup or an established corporation, the way your chosen agency structures its fees can significantly impact your budget and overall marketing success. While the hourly rate model has been around for decades, it may not be the most efficient pricing structure for clients who prefer predictability.

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The Spiff Blog

OCTOBER 19, 2023

Believe it or not, the new year is right around the corner– and that means it’s time to plan your sales compensation strategy for 2024. But, in this era of constantly shifting market conditions, it can be difficult to know what changes will best set your sales organization on the path towards success. Don’t worry, we’re here to help!

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The Spiff Blog

JUNE 20, 2023

Or, if you’re hiring for a new finance or accounting position, today’s blog post will be just as useful– as these are the skills you should be looking for in any job candidate. For example, say you’ve just released your monthly commission statements to your sales team. Keep reading!

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The Spiff Blog

DECEMBER 8, 2022

The variable component of success between great historic leaders and sales managers is exactly the same, and that variable is motivation. In relation to sales, let’s quickly walk through the transformation we assume most reps will undergo as they are promoted and attempt to become successful managers. Switching the Context of Success.

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The Spiff Blog

NOVEMBER 22, 2022

If you’re currently creating sales comp plans for the new year and are struggling to come up with compensation plans for your sales engineers, you’re not alone. The best sales engineers are technically-minded like an engineer, forward-thinking like a product manager, and have the selling chops of an AE.

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The Spiff Blog

JANUARY 12, 2022

If you’ve worked in sales or compensation for any amount of time, you already know that money alone can’t fix most things. And, how psychology helps sales leaders build teams that reach their true potential. Applying this Model to Your Sales Compensation Strategy. Check it out here: The Psychology of Sales Compensation [eBook].

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The Spiff Blog

JULY 14, 2022

It’s sort of like paying out sales commission in advance, based on how you think a rep is going to perform, instead of their actual numbers. Think about sales reps who earn commission. To be clear, this doesn’t mean you need to roll out commission-based pay across your entire organization.

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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. There’s no shortage of sales commission software on the market, and when you factor in the massive operational differences, it’s a recipe for information overload.

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The Spiff Blog

JUNE 16, 2022

Not only do you have to build the actual commission plans , but you also have to communicate how it all works in a way that motivates your reps to close more deals. The issue is, actual design is rarely a part of the commission planning process. Why data visualization matters in sales. Let’s dive in!

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OpenSymmetry

DECEMBER 6, 2016

When you offer people variable pay – like commissions – you’re engaging in a trust exercise. Sometimes, it’ll vary in a way that brings a smile to your sales reps’ faces – like when the number’s particularly high. If they’re all engaged in shadow accounting, you’re losing the equivalent of one sales rep a year.

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OpenSymmetry

FEBRUARY 15, 2017

As a sales compensation consultant at OpenSymmetry , I have heard countless horror stories, like the scenario above, about payment timing. This client paid its salespeople when deals were booked, rather than when the order was paid out – a highly motivating but highly risky pay structure. Sales rep turnover and clawback policies.

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The Spiff Blog

AUGUST 19, 2022

Developing an effective sales compensation plan requires a lot of brain power. It makes sense to focus on behaviors you’d like to incentivize, or pulling certain levers to impact other components of your sales engine. Document your current sales compensation processes. Let’s dive in! It might look something like this: 2.

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Incentives Incentive Compensation Commission 81

Pipeliner

AUGUST 11, 2021

Because unstructured data isn’t simply a spreadsheet of numbers or other easy-to-handle values – which would make it structured data – it’s hard to harness the information these files contain. For example, you might convert charts from a presentation into infographics for your blog and create posts that will drive more traffic to your site.

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Smooth Sale

SEPTEMBER 26, 2023

Our guest blog article by David Mandell explores ten tips to help average-wage-earning Americans reach their financial goals and prepare for a comfortable retirement. Create a Budget A well-structured budget is the foundation of sound financial planning. Today’s insights are provided to help you achieve the Smooth Sale!

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The Spiff Blog

OCTOBER 28, 2022

New research from Gartner has revealed a startling truth– almost 90% of B2B sales reps are experiencing burnout ( source ). Although it’s no secret that sales is a high-stress job, uncertain market conditions have only amplified the pressure to perform. We answer these questions and more in today’s blog post.

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The Spiff Blog

NOVEMBER 17, 2022

As another year comes to a close, go-to-market teams everywhere convene to begin their annual sales compensation planning processes. Key stakeholders from sales, finance, and RevOps will join meetings and analyze data in an attempt to create a sales compensation plan that satisfies each party’s needs. That’s a tall order.

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A Sales Guy

JULY 23, 2014

Note: This blog post is an excerpt from my new book: “Creating High Performance Sales Compensation Plans”. Some pay commission based on sales, while others only pay on margin; still others blend both with incentives and special bonus plans. Are your sales goals orders- or bookings-based?

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The Spiff Blog

FEBRUARY 24, 2022

But, unless real transparency, visibility, and clarity are intentionally baked into every function of your revenue engine, your sales team is essentially operating in a black box. This is especially risky in sales, where disconnected data can have serious repercussions on your pipeline and revenue. What is data-driven sales?

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The Spiff Blog

AUGUST 22, 2023

After all, RevOps teams play an active role in supporting every function that drives revenue growth, from sales to marketing to finance to customer success. Whether you’re feeling that pressure right now, or simply want to prepare for future down swings, today’s blog post is for you. Efficient communication channels.

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The Spiff Blog

SEPTEMBER 26, 2023

Consider this: 67% of lost deals occur as a result of sales reps not properly qualifying potential customers before taking them through the sales process ( source ). Although there is no single right answer to that question— there are dozens of tried and true frameworks sales teams swear by. Let’s get into it!

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Understanding the Sales Force

SEPTEMBER 8, 2014

Understanding the Sales Force by Dave Kurlan. We want you to be part of our next White Paper on Sales Force Effectiveness. Would you kindly take no more than 5 minutes to answer some questions about the sales force at your company? Hubspot''s Sales Blog published this post with some professional follow-up email templates.

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Your Sales Management Guru

NOVEMBER 28, 2017

Align Sales Compensation with Your Goals A compensation plan that works. Note: This week’s blog is an excerpt from my new book: “Creating High Performance Sales Compensation Plans”. Some pay commission based on sales, while others only pay on margin; still others blend both with incentives and special bonus plans.

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Mr. Inside Sales

JUNE 23, 2019

I received this question from a reader of my blog last week: “Mike, I have a question for you. This is a good question and many sales reps are wondering the same thing: With so many ways of being contacted, why is it harder to reach them? Nobody likes hearing from a salesperson who has “commission breath” as a manager once told me.

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Apptivo

JUNE 14, 2023

What is a sales report? What are the different types of sales reports in Apptivo? Why is a CRM sales report essential for business? How to Create Sales Reports in a CRM like Apptivo? ” This timeless phrase holds especially true in the sales sector. Let’s discover more about sales reports in this blog.

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SBI Growth

OCTOBER 11, 2012

Sales teams are getting their 2013 numbers. For the Sales Leaders who learned how to set quotas at the SBI Make the Number tour ( register now! ), the results will be quite different. 2013 results will uncover some long-hidden flaws in the sales force. This blog is NOT about how to correctly set your sales quotas.

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