The Spiff Blog

AUGUST 25, 2022

Reps who are motivated to put in the time, who are always on the phone, researching prospects, and going above and beyond to close a deal– even in the face of constant rejection– are more likely to be successful. Sales goals are often closely tied to sales performance and incentive compensation. Review Your Commission Plans.

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Commission Compensation Motivation Intent Signal 78

LeadBoxer

JANUARY 10, 2021

Time and time again, research proves retaining and selling to current accounts provides a higher return on investment (ROI) than acquiring new customers. Then there’s the fact that the probability of selling to a current customer is 60 to 70% , while the likelihood of selling to a new prospect is only 5 to 20%.

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Account Lead Rank Lead Scoring Commission 97

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 ). This is often compounded by the lack of visibility reps have when it comes to sales commission. These include exercise incentives, free mindfulness tools, and practical advice about relieving workplace stress.

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Commission Lead Rank Lead Scoring Hiring 78

Gong.io

JULY 11, 2022

Depending on their role within the team, inside sales reps engage in research, prospecting, email and social media outreach, cold calling, lead nurturing, qualification, demonstration, and negotiation conversations. It’s easier to accommodate the prospect and get in touch ASAP when you don’t need to fly out reps for a meeting.

Inside Sales 62

Inside Sales Outsourcing Services Hiring Sales Qualified Lead 62

Zoominfo

MAY 13, 2018

Because sales is often commission-based and money-driven, stress and pressure run rampant. Start small, and expand your incentive program as you learn and grow. Think about this way, if you don’t make prospecting a daily habit and only focus on the deals at hand, how will you meet your goals next month or the month after that?

Hiring 258

Hiring Sales Qualified Lead Lead Rank Lead Scoring 258

Crunchbase

FEBRUARY 16, 2021

One would think that a higher compensation would produce better results, but research shows the link between motivation, compensation, and performance is much more complex than most organizations realize. Find prospects that match your ICP with Crunchbase Pro – try it free.

Competition 59

Competition Hiring Motivation Incentives 59

Chorus.ai

MARCH 5, 2021

Good persona building will make prospecting and turning those prospects into qualified leads much easier. However, they’re likely to have very strong in-depth knowledge of the field (they use reviews and third-party research) and be highly discerning. Chorus’s research shows that deals will take longer depending on their size.

Top of Funnel 113

Top of Funnel Webinar Metrics Strategy Buyer Persona 113

The Spiff Blog

FEBRUARY 24, 2023

Step 1: Get deeply acquainted with the prospect’s perspective To handle sales objections effectively, sales professionals must have a deep understanding of the prospect’s perspective on both a macro and micro level– All before ever picking up a phone or drafting an email. Let’s look at another example.

Objections 80

Objections Hiring Face-to-face Buyer Persona 80

LeadFuze

AUGUST 13, 2021

Salaries can stagnate and leave you needing a cost of living increase in addition to your commission (which you may have to negotiate ). For example, according to the Council for Community and Economic Research , San Diego was the most expensive city in the United States in 2018, not New York City, according to Kiplinger.

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Salary Hiring Transportation Negotiation 98

Nutshell

NOVEMBER 9, 2018

We’ve compiled six of the best strategies for improving sales rep performance based on real-world research and case studies so you can get back to hitting your benchmarks in no time: 1. They dislike cold calling prospects.”. Because we don’t have a system for qualifying prospects before we call them.”.

Lead Rank 94

Lead Rank Sales Qualified Lead Lead Scoring Follow-up 94

The Spiff Blog

MARCH 16, 2023

Confidence comes from doing your research and knowing the market value. Begin researching career paths to build laser focused goals to achieve!” It’s OK to not know everything, but the best thing you can do for yourself is research and come prepared.” Whether that’s within a sales cycle or negotiating salary/benefits.

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Negotiation Face-to-face Hiring Lead Rank 69

Pipeliner

JULY 3, 2023

For example, seek a sales specialist well-versed in bundle pricing, someone capable of effectively marketing these bundles to prospective clients by elucidating their advantages and highlighting potential cost reductions. This will make prospective hires see the significant societal impact your business makes.

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Sales Talent Hiring Compensation Salary 52

Janek Performance Group

JULY 26, 2022

Do Your Research. As part of discovery, sales calls follow prospecting. They’ve done their research. We have quotas, commissions, bonuses, and any number of other incentives. However, the best outcomes begin with the best process, and the best sales calls start with a plan. They’ve seen your competition’s products.

Decision Maker 62

Decision Maker Objections Sports Social Media 62

Janek Performance Group

MARCH 12, 2024

2) Don’t Ignore the Candidate’s Red Flags Perhaps your prospective sales rep has an impressive resume, one which lists a series of excellent sales positions with an exciting range of duties, goals, and accomplishments. What matters is the potential mentor’s approach to sales and prospecting.

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Hiring Sales Talent Compensation Lead Rank 62

Salesmate

JUNE 4, 2021

One such practice is that of providing sales incentives to the salespeople. What are sales incentives? Call it what you will, incentives are what get people to work harder.” – Nikita Khrushchev . In simple terms, sales incentives are something that motivates your team to wake up in the morning and get to work.

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Incentives Incentive Compensation Motivation 105

Chorus.ai

MARCH 31, 2021

Mastering the secrets of motivation involves more than just boasting about the most competitive bonus scheme or striking the ideal balance between the salary and the commission you’re offering. With this knowledge in hand, Crawford could tailor incentives to match, rewarding the whole team with bonuses and social events for good performance.

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Motivation Commission Scale Salary 62

Growbots

SEPTEMBER 19, 2018

Most salespeople are driven by financial incentives. Not only do they want to close that big sale for the benefit of the company – but also to win that commission. Offer non-monetary incentives as well. If your budget is tight, consider offering other incentives such as bonus PTO, free gym memberships or public transit passes.

Compensation 55

Compensation Salary Incentives Incentive 55

LeadFuze

DECEMBER 31, 2021

Need Help Automating Your Sales Prospecting Process? But prospects would rather hear about how you will make their lives better and position themselves at a higher value to them. Ask yourself many questions and do research on different solutions so that when it comes time to make a decision there will be more than one option.

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Objections Hiring How To Face-to-face 52

SalesLoft

OCTOBER 30, 2018

This is dollars left on the table due to ineffective processes for “defining, assigning, and managing territories, quotas, and incentives and compensation plans.”. OTE is total cash compensation, inclusive of base salary plus variable commission, paid at 100% quota attainment. Attract and retain the best talent.

Compensation 52

Compensation Sales Qualified Lead Salary Quota 52

SBI

NOVEMBER 27, 2012

The 65/35 efficiency factor highlights the fact that reps are already spending far less time talking with prospects than they should be. When reps are entering data into the CRM system, they are not talking with prospects. When they are updating their forecasts, they are not talking with prospects. 1] Forrester research. [2]

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CRM Wireless SalesForce Commission 133

Zoominfo

NOVEMBER 3, 2019

Because sales is often commission-based and money-driven, stress and pressure run rampant. Start small, and expand your incentive program as you learn and grow. Think about this way, if you don’t make prospecting a daily habit and only focus on the deals at hand, how will you meet your goals next month or the month after that?

Hiring 100

Hiring Sales Qualified Lead Lead Rank Lead Scoring 100

Velocify

JUNE 28, 2017

6) Incentives and Commissions. The compensation process for incentives and commissions can be automated with software to reduce overpayment errors. Sales enablement software simplifies the process of connecting prospects with relevant content. 7) Sales/Content Enablement. 8) Interactive Presentation.

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Sales Technology Top of Funnel Hiring Software 53

Sales Hacker

MARCH 29, 2021

They have shifted their buying process even further online, only talking to vendors after they have already conducted significant research. Other accounts might be chased by both partners and sales, which results in conflicting messages and commissions. Businesses are continuing to streamline their purchasing.

Revenue 101

Revenue How To Ideal Customer Profile Software 101

Mindtickle

FEBRUARY 27, 2020

This shift aligns with the overall industry trend with millennials set to replace the 25% retiring by 2024, according to Cerulli Associates , a leading global research firm for financial services. Cerulli Associates’ research says that the industry attracted about 20,000 trainees in 2018, with a failure rate of approximately 75%.

Demographics 59

Demographics Ideal Customer Profile Margin Banking 59

Sales Hacker

DECEMBER 5, 2017

The SDR starts the process there, spending several hours a week finding accounts first, then researching contacts, and creating sequences. However this is not when the SDR gets paid commission – a result of a fundamental breakdown in the sales compensation structure. This is when the real handoff happens.

Ideal Customer Profile 82

Ideal Customer Profile Sales Qualified Lead Hiring Outsourcing Services 82

Lessonly

DECEMBER 4, 2020

They pull out all the stops—huge kickoff meetings, trips and incentives, giant commissions. They can be as small as they like, relating to prospects, customers, their understanding of the industry/competition/product, and their own professional development. But a commission alone is not enough.

Commission 29

Commission Face-to-face Sales Enablement Salary 29

Mindtickle

FEBRUARY 27, 2020

This shift aligns with the overall industry trend with millennials set to replace the 25% retiring by 2024, according to Cerulli Associates , a leading global research firm for financial services. Cerulli Associates’ research says that the industry attracted about 20,000 trainees in 2018, with a failure rate of approximately 75%.

Demographics 52

Demographics Ideal Customer Profile Margin Banking 52

Hubspot Sales

JANUARY 17, 2018

Get in the Door: Sales Prospecting Strategies & Tactics. Learn about sales team management, creative business development strategies, time-saving sales tools, B2B strategic partnerships, aligning sales with marketing, effective prospecting, negotiation techniques, and more. Linking Into Sales Podcast. In the Arena. Accelerate!

Scale 145

Scale Sage Lead Rank Lead Scoring 145

Chorus.ai

SEPTEMBER 12, 2019

Capture as much key customer information as you can during their interactions with your site; forms replete with information useful to a sales team is a good start (be careful not to overdo it — forms that ask for more than necessary can intimidate prospects). Stage 2 - Define Success Through Clear Goals. Step 1: Set clear goals.

Ideal Customer Profile 62

Ideal Customer Profile Top of Funnel Webinar Metrics Strategy 62

Sales Hacker

APRIL 11, 2019

Do all the research you want… Implement all the bright-shiny strategies you can think of to get sales reps excited about their roles and success…. Her close rate and average revenue per sale are high, but she doesn’t prospect enough. She admitted she didn’t enjoy prospecting and had a hard time sitting down to do it.

Motivation 85

Motivation Compensation Lead Rank Lead Scoring 85

PandaDoc

JULY 11, 2022

Make sure to include a thorough employment contract to protect both yourself and your prospect when explaining expectations during the sales hiring process. Your job posting might be enough to get potential hires in the door, but you’ll still need to cover the basics around expectations, environment, salary, and incentives.

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Hiring How To Salary Scale 52

LeadFuze

DECEMBER 31, 2021

Need Help Automating Your Sales Prospecting Process? Companies produce white papers, original research and blogs on their own websites or elsewhere in order to show off the skills of employees. Create an incentive compensation plan for every market segment. Research the candidate before you hire them. This isnt true.

Paid Content 52

Paid Content Ideal Customer Profile Top of Funnel B2B 52

LeadFuze

JANUARY 1, 2022

Need Help Automating Your Sales Prospecting Process? million… I won the top sales incentive trip the last three years… As a manager, I am really good at developing people. Prospective employers want to know if you have the resilience and determination to close hard deals. What is your best memory of a sale you won?

Hiring 52

Hiring Motivation Follow-up Examples 52

The ROI Guy

APRIL 12, 2013

This is not imagined, but proven by research, and called Status Quo Bias - a cognitive pre-disposition for maintaining the status-quo. However, tying tool usage directly to commissions may be too extreme for many, and the sales tools may not be appropriate for each and every deal.

Sales Tools 68

Sales Tools Tools Incentives Incentive 68

LeadFuze

DECEMBER 31, 2021

In fact, I’ve found that there’s a lot more to it than just pay and commissions. Need Help Automating Your Sales Prospecting Process? If a salesperson lacks knowledge about the industry, it will be hard to have successful conversations with prospects. The Difference of Bussines Acumen and Sales Acumen.

Hiring 52

Hiring How To B2B Banking 52

ExecVision

JULY 8, 2018

I’m not sure that any research has been done on this subject. Given that their compensation typically is tied to a commission plan that rewards performance, one would think that would be sufficient incentive for sales people to invest every available moment in their self-improvement. Institute a Mandatory Team Learning Program.

Call-back 40

Call-back Education Incentives Incentive 40

LeadFuze

JANUARY 1, 2022

Need Help Automating Your Sales Prospecting Process? Will they do research online, or attend a trade show and then purchase from there? Where are your target prospects located? Another option is to go wholesale, which may require higher commissions but provides access to more stores than you might own. Where do they buy?

Strategy 52

Strategy Lead Rank Outsourcing Services Marketing 52