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10 Ways To Boost Your Sales Incentive Strategy

Sales and Marketing Management

Author: George Kriza, CEO, MTCPerformance Your organization wants to drive sales with an incentive program. Here are 10 of the most important elements in designing and deploying your next incentive campaign. Here are 10 of the most important elements in designing and deploying your next incentive campaign. Gen X, Y or Boomer?

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5 Tips for Designing Successful Sales Incentive Compensation Plans

Xactly

Few leading indicators are more predictive of a company’s future sales performance than its incentive compensation plans. While multiple factors influence the effectiveness of your sales incentive compensation plans, 5 tips stand out: 1. Creating incentive programs that work require balancing multiple design choices.

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How to Realign Sales Teams to Motivate a Remote Workforce

Sales and Marketing Management

For example, incentives may shift to include focus on existing customers instead of net new sales and also could move towards a discretionary model with subjective KPIS rather than a formulaic commission driven plan. After all, an incentive plan cannot motivate employees if it is too complex for them to understand.

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6 Marketing Strategies for B2B Customer Retention

Sales and Marketing Management

Penetration marketing. After managing to score conversions, you should focus on penetration marketing and developing your strategy. What is penetration marketing in the first place? In most businesses, penetration marketing is also known as account marketing. Prevent defection.

Retention 238
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No Product Differentiation? No Problem. A CEO Who Found Another Way to Grow

SBI Growth

Caliber’s growth depended on retaining and penetrating top clients while converting relationships with key accounts. We partnered with a consulting firm to help us identify the right sales resources, define the sales processes, and determine the proper metrics and sales incentives.”. Build the Roadmap. Execute the Plan.

Hiring 297
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10 Questions Every Sales VP Candidate Should Ask the CEO

SBI Growth

If you can’t hit it, you’re not getting the incentive pay promised. No historical performance, account penetration, or product maturity calculated in quota. This is contingent on how accurately the quota is set. Red Flags: Big gap between performance and quota. Pie-in-the-sky market share figures determines quota.

Quota 310
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New Product? Don’t Forget to Update the Sales Compensation Plan

SBI Growth

Obtain market penetration projections. So how do we incent this behavior? If the product doesn’t make up a minimum of 15% of the overall quota, there won’t be enough incentive for the sales rep to focus on it. When a new product takes significantly longer to sell, sales reps will need to be given some extra incentive.