The Spiff Blog

DECEMBER 7, 2023

Whether you’re a sales compensation manager struggling to get commission statements in order, or a sales rep trying desperately to hit your quota, the last month of the year often ends up being the most stressful. Time for Next Steps You thought that prospect who loves your product actually wanted to make a purchase? How silly of you.

Commission 80

Commission Banking Cold Calling Scale 80

Xactly

AUGUST 30, 2018

As the bridge between executives and sales reps, managers communicate corporate goals with their teams and keep reps on track to hit their quota. For enterprise sales organizations, the sales team management process means higher quotas, bigger deals, and a longer sales cycle. Employ the Enterprise Selling Process.

Enterprise 40

Enterprise Enterprise Top of Funnel Compensation 40

The Spiff Blog

JUNE 1, 2023

When sales reps know their commission is at risk of being clawed back, they’ll pursue high-quality deals and be more diligent when it comes to qualifying prospects. The rep receives a negative credit of -$50,000 towards their Q2 quota – meaning they now have to bring in $500,000 that quarter in order to reach the 10% commission tier.

Commission 77

Commission Compensation Cancellation Strategy 77

Zoominfo

JULY 1, 2018

Social sellers realize a 66% greater quota attainment than those using traditional prospecting techniques ( source ). IT Central Station: Described as a “Yelp or TripAdvisor for enterprise technology.”. That way, you’re armed and ready to respond to prospects who may already be influenced by online reviews.

Buyer 190

Buyer Social Media Social Selling Incentives 190

Hubspot Sales

FEBRUARY 28, 2019

For example, if your team is consistently struggling to hit a monthly sales quota, then it's likely time to reevaluate the tactics the sales reps are using to prospect and close. Or the quota strategy might need to be adjusted depending on how badly the sales team is missing the mark. Spend an hour prospecting each day.

Hiring 124

Hiring Enterprise Enterprise Objections 124

Sales and Marketing Management

OCTOBER 21, 2019

There’s nothing more frustrating than having a prospective customer on the hook, then having to spend precious time combing for just the whitepaper or case study that fits their needs. The most advanced platforms can even identify where exactly a prospective customer is in their journey, and offer content recommendations accordingly.

Top of Funnel 136

Top of Funnel Hiring Commission SAP 136

The Spiff Blog

JANUARY 9, 2024

Naturally, you might be looking for ways to decrease ramp-up time and get new reps hitting their quotas as soon as possible. When every rep is comfortable with analyzing data, identifying patterns, and interpreting prospect behavior, they’ll become increasingly targeted and efficient in their day-to-day selling efforts.

Banking 84

Banking Hiring Churn Scale 84

Sales and Marketing Management

JULY 21, 2019

CSO Insights reports that implementing formalized sales coaching leads to double-digit improvements in win-rates and quota attainment. Success stories (“How I won the deal”), advice (“How I reignited interest with a prospect who went dark”) and more can be stored for central access. Coaches can attach rewards and incentives (e.g.,

Coaching 241

Coaching Video Hiring Trade Show 241

Hubspot Sales

JANUARY 9, 2018

Your goal should also be closely tied to your high-level business goals; to give you an idea, if the company is trying to move upmarket, your goal might be “Acquire 20 Enterprise logos” rather than “Sell X in new business” (because the former will encourage you to solely chase deals rather than focus on the right type of customers).

Buyer Persona 145

Buyer Persona Referrals How To Commission 145

SBI Growth

SEPTEMBER 23, 2013

Territory design, quotas and compensation plans. Steve is a VP of The Americas of a large enterprise software company. Change the compensation plan to incent new logo growth by adding an accelerator. Why are reps not being taught how to generate demand in the new prospects? An Example. Sales training. Steve’s new plan.

Compensation 325

Compensation Social Media Incentives Incentive 325

The Spiff Blog

OCTOBER 12, 2023

How you pay sales reps depends on the way you design your comp program, what metrics relate to what incentives, and so on— all the details we’ve covered in many past articles about comp plan design. This company might also implement a more rigid sales qualification framework that equips reps to only sell to the right prospects.

Compensation 84

Compensation Commission How To Incentives 84

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. An inside BDR (Business Development Representative), for instance, focuses on prospecting and pre-qualifying outbound leads.

Inside Sales 62

Inside Sales Outsourcing Services Hiring Sales Qualified Lead 62

Hubspot Sales

JUNE 26, 2019

Career ladders help retain staff by providing an incentive to keep moving forward -- if they see a clear reward (i.e., Case Study: Parse.ly’s SDR to Enterprise AE Role Career Ladder. did for their SDR to Enterprise AE career ladder. Are you hitting your quota in meetings set? ”. “

Hiring 133

Hiring Lead Rank Lead Scoring Salary 133

The Spiff Blog

SEPTEMBER 26, 2023

The BANT methodology, which sales organizations have used since the 1950s, relies on four criteria to qualify prospective customers: Budget, Authority, Need, and Timing. Budget : Does the prospect have the budget available to purchase your product or service? Let’s start with the simpler of these two common frameworks.

Sales Qualified Lead 83

Sales Qualified Lead Lead Qualification Sales Cycle Scale 83

Sales Hacker

DECEMBER 12, 2017

I wish I could say it’s all about incentives, but the truth is a bit more nuanced than that. Determine Additional Incentives (With Caution). You should really pick one metric like revenue vs trying to incentive multiple high level metrics. It’s also not reasonable to expect your new hires to hit quota in their first pay period.

Compensation 82

Compensation Hiring Incentives Incentive 82

The Spiff Blog

NOVEMBER 17, 2022

It’s a function of doing numerous things right, starting from the moment you target a potential prospect until you finalize the deal.”. Do enough research to have an informed point of view about your prospect’s business. Do not make the prospect do your job for you. Douglas McGregor , Author of The Human Side of Enterprise.

Compensation 72

Compensation Commission Motivation Incentives 72

SBI

FEBRUARY 7, 2019

The premise is that enterprises can no longer afford to design geographically equivalent territories that are unbalanced in terms of value of potential sales, number of accounts, and travel and schedule efficiency. They blow out their quotas and get pats on the back. So, I asked John to tell me more. In fact, the opposite is true.

Territories 87

Territories Revenue Data CRM 87

InsideSales.com

OCTOBER 4, 2019

Wondering how prospecting at scale can help you grow sales? Scaling your prospecting efforts becomes easier when you focus on these four vital components. RELATED: 4 Best Practices For Incorporating Twitter Into Your Prospecting Sequence. In this article: Four Things You Need for Scalable and Effective Sales Prospecting.

Scale 40

Scale Prospecting Buyer Persona Outbound 40

Sales Hacker

MARCH 30, 2021

Leveraging the next generation of artificial intelligence, the platform allows sales reps to deliver consistent, relevant, and responsible communication for each prospect every time, enabling personalization at scale previously unthinkable. Sam Jacobs: I’m always interested in how incentives drive behavior. Check out Outreach.io

Oracle 104

Oracle Scale SalesForce Incentives 104

Velocify

JUNE 28, 2017

4) Territory and Quota Management Solutions. Territory and quota management solutions assign leads to reps based on geographic areas. 6) Incentives and Commissions. The compensation process for incentives and commissions can be automated with software to reduce overpayment errors. 5) Predictive Analytics.

Sales Technology 53

Sales Technology Top of Funnel Hiring Software 53

The Spiff Blog

DECEMBER 14, 2023

In other words, knowing how to sell to the CFO is essential if you want to hit your sales quota. Recommended reading : 8 Better Ways to Re-Engage with Cold Prospects 4. The platform’s intuitive UI, in-depth reporting capabilities, and seamless integrations make it the first choice among high-growth and enterprise organizations.

Decision Maker 75

Decision Maker Sales Forecasts Forecasting Compensation 75

Xactly

SEPTEMBER 19, 2018

Download "The Enterprise Guide to Sales Performance Management (SPM),"to discover sales compensation best practices, the benefits of enterprise SPM solutions, and how Xactly can help you unleash sales attainment potential. The Incentive of Getting Fired. In fact, one year he fulfilled his annual sales quota in a mere two weeks.

Motivation 97

Motivation Compensation Enterprise Enterprise 97

Xactly

JUNE 13, 2018

Balanced territories allow you to set fair quotas, which have a huge impact on your incentive compensation and success of your salesforce. When your sales territories are poorly planned, it can result in: Drops in revenue earnings and failed quota achievement. Unsatisfied prospects and customers. Register for Webinar.

Territories 49

Territories Travel Webinar Metrics How To 49

Sales Hacker

DECEMBER 21, 2017

Because of its broad scope and deep impact on both top line (productivity) and bottom line (efficiency) performance, the sales operations department has become a strategic and indispensable component of a mature sales organization, especially in the enterprise, SaaS and B2B space. . Formulation of Incentives Program.

Sales Operations 90

Sales Operations Top of Funnel Hiring Scale 90

Partners in Excellence

OCTOBER 12, 2014

For example, I see LinkedIn data that says, “Sales professionals who use social selling are 51% more likely to exceed their quotas.” They usually have a format like, “High performers are X% more likely to exceed quota when they [Do this, Use that] than sales people who don’t [Do this, Use that].

Hiring 93

Hiring Social Selling Quota Social Media 93

Troops

APRIL 20, 2018

If you don’t have a lot of customers, another method is to analyze the conversations you and your team have with prospects that seem to be going well. A little later, we’ll talk about some tools you can use to improve the chances of hitting your sales quota. Calculating incentive for top performers.

Ideal Customer Profile 90

Ideal Customer Profile Top of Funnel Incentives Incentive 90

Chorus.ai

MARCH 5, 2021

Good persona building will make prospecting and turning those prospects into qualified leads much easier. Setting clear goals for your sales strategy is just as important, helping establish company-wide performance expectations and giving your salespeople the incentives they need to excel. Step 1: Find your data.

Top of Funnel 113

Top of Funnel Webinar Metrics Strategy Buyer Persona 113

Smooth Sale

MARCH 17, 2022

I moved from B2C to selling to small businesses and enterprises. A slightly higher percentage of women in sales (70%) make quota over men (67%). A 2019 study by incentive solution provider Xactly reported that 86% of women achieved quota, compared to 78% of men. Yet, women receive less pay than men.

Scale 78

Scale Hiring Lead Rank Report 78

Emissary

JUNE 26, 2023

It’s tempting to allow for a somewhat relaxed Q3 as sellers, clients, and prospects all take well-earned summer vacations. E.g., If quotas are now increasingly unrealistic, you can install Q4 goals and incentives to avoid ‘sandbagging’ behaviors. Build campaigns that present a realistic combination of prospects (e.g.,

Ideal Customer Profile 52

Ideal Customer Profile Top of Funnel Account Based Marketing Lead Rank 52

Close.io

FEBRUARY 24, 2020

If you want to increase sales productivity for your team, close more deals, and hit your quota, then keep reading. Makes sales reps more customer-focused : With easy access to the external-facing content your audience is viewing and interested in, reps are better able to appeal to their prospects and provide real value.

Sales Enablement 85

Sales Enablement Top of Funnel Hiring Face-to-face 85

Hubspot Sales

FEBRUARY 6, 2018

But if your profile is tailored toward prospects , rather than recruiters, there’s another big pothole you need to avoid. Are you adept at navigating complex buying processes due to your time selling enterprise-wide technology solutions? In addition, salary is a big incentive for many salespeople -- and there’s nothing wrong with that.

Ideal Customer Profile 111

Ideal Customer Profile LinkedIn Real Estate Hiring 111

Crunchbase

OCTOBER 26, 2020

See how Crunchbase Pro can help you hit your quota – try Pro free. According to the Annual State of Sales by Salesforce , 57 percent of sales reps said they expected to miss their quota in 2018. Our research has found that now around 84 percent of sales professionals missed their quota in 2020.

Pivotal 105

Pivotal Strategy Face-to-face Consumer 105

Sales Hacker

MAY 26, 2021

Any customer-facing rep who’s worked at a midsize or enterprise company is familiar with sales operations. Here are a few sales operation metrics you might have seen before: Quota achievement. These teams focus on converting leads into customers by tailoring their pitches to address prospects’ specific needs. Average win rate.

Sales Operations 60

Sales Operations Top of Funnel Lead Rank Hiring 60

Sales Hacker Training

NOVEMBER 21, 2022

There are plenty of sales prospecting tools and sales management software to help automate your manual tasks while personalizing your outreach. Create your ideal customer profile(s) and automatically find leads from a proprietary database of 400 million verified prospects. Bombora Know what your prospects are thinking.

Sales Tools 52

Sales Tools Tools Ideal Customer Profile Lead Rank 52

Allego

AUGUST 31, 2022

You may have to find other ways of offering value and creating highly customized and targeted programs to drive the interest of your ICP (Ideal Customer Profile) and IPP (Ideal Persona Profile) prospects. Qualifying your prospects is key to identifying high-value potential leads. For example, do you have enough leads to support quota?

Ideal Customer Profile 62

Ideal Customer Profile Hiring Lead Rank Scale 62

No More Cold Calling

MARCH 3, 2016

Understand the pain of your prospect. She’s been there … as a customer of incentive compensation and a lover of performance management. Rather than talking about quotas and close rates, her goal is to motivate them, because that’s what makes a difference to the customer and to the company. Go figure it out.

Referrals 120

Referrals Scale Cold Calling Call-back 120

SBI

OCTOBER 16, 2012

According to Gschwandtner, companies from small to enterprise-sized have learned that the good old days of selling are gone. In the midst of it all, salespeople are left to navigate a rough road and find new ways to beat their quota. Does your sales team deliver a rich customer experience at every connection with prospects and clients?

Conference 131

Conference Social Selling Data Marketing 131