Xactly

JANUARY 7, 2019

The start of a new year comes with a new sales plan—and that means you must reassess your sales capacity needs , align and balance sales territories , and create a sales incentive plan that drives sales performance. Enter sales compensation planning. What is Pay Mix in Sales Compensation?

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Compensation Incentives Incentive Commission 90

Highspot

OCTOBER 11, 2023

Effective sales management is the core of any successful business. Read on as we break down why strong sales management matters, along with proven strategies to achieve it. It involves planning, organizing, leading, and controlling the sales activities within an organization to achieve its revenue targets and close deals.

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Sales Management Strategy Lead Rank Lead Scoring 59

SBI Growth

OCTOBER 29, 2012

This post will help you test a redesigned sales compensation plan to ensure cultural fit. Plus, you’ll find advice on compatibility with other sales effectiveness drivers. Let’s suppose HR is fully engaged for redesign of a 2013 Sales Compensation plan. HR even brought in an expert compensation firm.

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Compensation Hiring Incentives Incentive 253

Understanding the Sales Force

NOVEMBER 10, 2023

And “We don’t know what we don’t know about sales” is a true statement in most companies. The Example Salespeople (anyone, with any title, whose primary role is selling) don’t know about their own skill gaps and blind spots. Coaching their salespeople becomes a scenario of the blind leading the blind.

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Company Hiring Scale Forecasting 212

Xactly

JUNE 7, 2018

Incentive Compensation Management (ICM) solutions help companies manage their sales compensation plans and calculate commission payments. Today’s ICM solutions are aimed at optimizing more than just sales compensation, focusing on end-to-end sales performance management (SPM).

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Compensation Incentives Incentive Data 60

Sales Hacker

APRIL 19, 2022

In this article, I’ll outline the principles of compensation design , how to build sales compensation plans , and include resources to set OTEs and quotas that keep your reps happy and hungry for more. Why Sales Comp Planning is Key to Rep Retention. Who should be responsible for sales compensation planning?

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Compensation Retention Hiring Commission 86

Sales and Marketing Management

MARCH 27, 2019

There’s a simple solution that will help streamline this issue and create more time for sales reps to spend actually selling the product or service: implement a sales and compensation system that’s transparent and easier to understand. Lack of transparency can also lead to inaccuracy within a company’s compensation calculations.

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Strategy Compensation Incentives Incentive 223

SBI Growth

OCTOBER 24, 2013

A post for Sales and HR Leaders to find root causes of Sales Manager (SM) vacancies. The Sales Manager position is the fulcrum between sales leadership strategy and sales force execution. Teams without effective sales managers lack morale and discipline. Poor compensation.

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Xactly

SEPTEMBER 5, 2018

Management by Objectives, aka MBOs, are goals set for employees to improve overall sales performance, as agreed up on by sales manager and rep. MBOs can be an extremely useful tool in addition to your sales commission structure because they give each rep individual goals to strengthen the overall sales organization.

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Examples Compensation Incentives Incentive 78

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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Compensation Margin Commission Salary 68

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. Compensation plans shouldn’t be developed in a vacuum. Sizing It Up.

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Compensation Margin Commission Salary 120

The Spiff Blog

APRIL 27, 2023

Motivation and compensation are tough to nail under normal circumstances and are even trickier during tough times. In this article we plan to resurface a few well-known, but often overlooked, principles of compensation and motivation that can boost you and your team during these tough times. Let’s get into it!

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Motivation Hiring Compensation Incentives 75

Hubspot Sales

FEBRUARY 2, 2022

Any professional, across every field and experience level, needs to have a solid understanding of how they're compensated — after all, that's literally the reason you're working in the first place. Your base salary is one of the key elements you need to account for when getting that picture of your compensation package.

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Salary Compensation Incentives Incentive 86

Highspot

NOVEMBER 21, 2023

What Makes a Great Sales Manager? What Sets Great Sales Managers Apart? Responsibilities of a Sales Manager Qualities You Need To Go From Good To Great Sales Management Strategy for Sales Managers The Importance of Sales Coaching And Training What Does Sales Manager Success Look Like?

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Sales Management Strategy Lead Rank Coaching 52

Xactly

APRIL 25, 2018

Picture this: the sales compensation design team has spent months analyzing performance, designing, re-designing, tweaking and modeling the upcoming year’s new sales incentive plans. Download our "Ultimate Guide to Sales Compensation Planning," for everything you need for a sales comp plan design project.

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Compensation Incentives Incentive How To 50

Partners in Excellence

AUGUST 1, 2022

And then we get to compensation. We try to develop compensation plans that incent people to achieve those goals. Often, it’s very simple, some sort of compensation based on revenue, or possibly quota attainment. It can be the basis for getting promotion, or increases in compensation.

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Compensation Incentives Incentive Hiring 95

Sales Hacker

DECEMBER 12, 2017

With increasing focus on grit and many claims of meritocracies in organizations across the country, why does variable pay compensation even exist? On top of that, why are sales people some of the few employees subject to variable compensation structures? What is Variable Pay Compensation Anyway? Set Metrics.

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Compensation Hiring Incentives Incentive 79

Pipeliner

DECEMBER 20, 2017

A compensation plan that works. Note: This 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. Understanding Cost of Sales. Sizing It Up.

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Compensation Margin Commission Salary 58

The Spiff Blog

OCTOBER 6, 2022

But remember that while the execs are driven by revenue and low customer churn, your sales reps are driven by their incentive compensation plans. Sales reps are trained to track dollars and revenue (yes, you’ve taught them well), so of course they’re going to track their own. Prioritize a positive sales culture.

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Commission Compensation Churn Incentives 75

Xactly

JANUARY 18, 2019

Your sales commission plan is a portion of your sales compensation plan. Ultimately, your sales commission plan motivates reps to close deals and perform specific sales behaviors that align with your company goals. To help ensure you set your sales team up for success, here are six steps to setup a commission plan.

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Commission Incentives Incentive Compensation 81

Hubspot Sales

MARCH 21, 2019

Sales dashboards provide an overview of your key performance indicators (KPIs) and show you how your sales team is tracking towards your goals and revenue targets. How to Create a Sales Dashboard. Determine which sales metrics you'll track. Who will be using the dashboard : Sales reps, managers, VPs, or executives.

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Examples Hiring Report Hubspot 105

Hubspot Sales

APRIL 24, 2019

Compensation is an important factor in attracting and retaining employees, especially in sales. Imagine if almost half of your sales team left the company because of a poorly designed compensation plan. How much are you willing to pay if a salesperson can produce $X in sales? The results wouldn't be pretty.

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Commission Salary Compensation Territories 122

Janek Performance Group

MARCH 12, 2024

This may end up contributing to a lack of direction and belonging many sales professionals experience, and ultimately may negatively impact performance. Simulations help fill in the knowledge gap for the hiring manager. You can make the process even more granular by setting up a practice sales call.

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Hiring Sales Talent Compensation Lead Rank 62

criteria for success

OCTOBER 20, 2020

What makes an effective sales manager? Acting as sales manager can be a difficult job because you wear two bulls-eyes: one on your front and one on your back. Your senior management is pushing for results, numbers, revenue, and profit. Your sales people are looking to you for guidance. Coach, don't manage.

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Sales Management Leads Marketing Qualified Lead Guidelines 59

OpenSymmetry

OCTOBER 28, 2016

So where does a sales VP place their bets? For example, is investing more heavily in training a better option than the introduction of a content management or CPQ tool? Or is a new sales methodology a better option than investing in a sales manager coaching program? Register for this free webinar today!

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Compensation Incentives Incentive Decision Maker 40

SBI Growth

SEPTEMBER 23, 2013

VPs of Sales are asking questions like: Is our Sales Process good enough? Are my Sales Managers good enough? Do This— Start with a Sales Strategy Blueprint. To have a sales strategy you can execute, it must follow a structured path. Over 125 sales executives participated in vetting this approach.

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Compensation Social Media Incentives Incentive 325

Marc Wayshak

MAY 25, 2022

If so, you might often find yourself thinking, “I feel like with just a couple of small tweaks, we could be making so many more sales…”. One of the most common questions I get from sales managers is, “How can I make some small changes that will allow my sales team to sell significantly more?”. Scalable offering.

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Hiring Sales Management Training Lead Gen 62

Partners in Excellence

JULY 26, 2016

My last post inn this series was “ Super Hero Sales Managers.” ” I hesitated for a moment discussing this topic–sales compensation plans. I can barely scratch the surface on this topic, sales people, sales executives, and non sales executives invovled in compensation are likely to be unhappy.

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Compensation Sales Leadership Commission System 48

Hubspot Sales

OCTOBER 2, 2019

There is often a disconnect between the level of effort sales reps put into their work and the tangible outcome seen by sales management and the company at large. Let’s talk about why your organization needs to implement a sales performance management strategy. Helps predict future sales trends.

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SAP Oracle Compensation Territories 119

Your Sales Management Guru

DECEMBER 10, 2012

Guest Posts for Your Sales Management Guru. Ken: We have two posts today, first How to Manage Manipulative Sales Employees and a BONUS Sales Compensation Survey to help you plan. How to Manage Manipulative Sales Employees. BONUS Sales Compensation Survey. report at no cost.

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Compensation Survey Policies Incentives 80

Sales and Marketing Management

MAY 7, 2018

For example, a supporting framework is required where executives drive sales enablement efforts top-down and sellers receive consistent, proactive coaching from sales managers. Further, in my view the definition should precisely reflect the alignment required between the buyers’ journey, sales process, and content.

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Sales Enablement Hiring Compensation Buyer 192

Pipeliner

OCTOBER 19, 2021

But the lingering effects of the pandemic are not the only reason why your sales team may not be performing as you need or want them to. There can also be deeper, systemic issues that traditional incentives, such as commissions and bonus pay, can’t accommodate. The key to this is building a strong relationship with your employees.

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Commission Incentives Incentive Motivation 97

OpenSymmetry

FEBRUARY 23, 2017

Getting into the swing of 2017, your company is ready to be liberated from the ancient tools handicapping your sales efforts to a mindbendingly slow pace. Take, for example, a bakery owner who recognizes that he’s losing money selling cinnamon rolls. Key questions to ask include: How easy is it to change the comp plan?

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Compensation Hiring Commission Churn 46

The Spiff Blog

JANUARY 9, 2024

And, strategic sales coaching is all about zeroing in on your most urgent sales priorities. For example, let’s say your number one priority as a business is to reduce customer churn. As a sales leader, it’s important to make sure your training and coaching sessions address the issues that ultimately lead to customer churn.

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Banking Hiring Churn Scale 84

Your Sales Management Guru

MAY 30, 2012

Sales Compensation and Having a Fun Summer. Sales Leadership Ideas. At this time of year sales management must be looking at pipeline levels and goals for July/August and determining if there is the necessary level of activity to ensure targets will be exceeded. A Contest Sampler. Acquiring new clients.

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Compensation Sales Leadership Face-to-face Incentives 67

Partners in Excellence

JULY 12, 2017

It’s an age old adage, “You get what you measure and compensate for.” ” If it were true, why do we have such a gap in sales quota performance? We’re measuring it, we’re tracking it, but the majority of sales people aren’t achieving their goals. One final example.

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Compensation Quota Pipeline Lead Rank 48

OpenSymmetry

MARCH 25, 2015

Sales Performance Management (SPM) has truly evolved over the last 10+ years from the days of having an on-premise solution that primarily automated the compensation calculation process with basic reporting, to a new dynamic frontier with extended capabilities.

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Compensation Cost Per Thousand Territories Forecasting 40