Rethinking Sales Incentives

The Pipeline

As part of a series of posts dealing with areas you should consider, better yet reconsider, going in to the New Year, today we look at incentive. While there are other expenses, commissions/incentives, are the most direct “payment” you pay for bringing in revenue.

How to Design an Incentive Compensation Plan That Works

Sales Benchmark Index

Article Sales Strategy SBI for SMB comp planning compensation plan plan sales comp sales compensation

Trending Sources

Is Now the Right Time to Pull the Compensation Trigger?

Sales Benchmark Index

Article Sales Strategy b2b sales sales compensation sales incentive pay sales incentive pay changes sales rep comp plans sales strategy sales variable compensation

7 Steps to a Quota-Busting Sales Force

Sales Benchmark Index

Article Sales Strategy allocate territories incentive plan lead nurturing maximize selling time quota busting sales quota talent development

Quota 95

Expand the Reach of Your Sales Team with SDRs

Sales Benchmark Index

Article Marketing Strategy Sales Strategy heather young Sales Development Rep Sales Development Representative sales leads SDR SDR compensation SDR incentive SDR management SDR onboarding

How to Run a Killer Sales Incentive Contest

Understanding the Sales Force

Understanding the Sales Force by Dave Kurlan Yesterday, we had a fairly sizable snowstorm that dumped a foot of snow and it reminded me of this article from last winter. Also yesterday, in my article on the importance of rallying cries , I promised to discuss incentive programs.

Get Your ‘C’ Players Jobs with Your Competitors

Sales Benchmark Index

Article Corporate Strategy Sales Strategy SBI on Demand "A-Player" c player comp design compensation compensation planning compensation strategy incentive on target earnings OTE salary benchmark

Why a LinkedIn Article Went Viral(30k views) and Another Didn't

HeavyHitter Sales

  This is the story of two very similar LinkedIn articles. However, one article went viral and was viewed over 30,000 times while the other was seen by 1,000.   The 1,000+ Views “Traditional” LinkedIn Article.     THE VIRAL ARTICLE EMPLOYED A “COWCATCHER”.

All-Time Top Kurlan Sales Article

Understanding the Sales Force

Understanding the Sales Force by Dave Kurlan As promised for today, I'm revealing the single article, from among my former 999 blog articles which my readers voted "best", to be my 1,000th post. Many people are not going to like this article.

Sales Training Article: Trouble Closing - or Selling?

Customer Centric Selling

Sales Training Article: Trouble Closing or Selling? The best outcome is getting orders, but often sellers have to give discounts to incent early decisions. Read more sales training articles from CustomerCentric Selling® - The Sales Training Company

The Territory Optimization Revolution

OpenSymmetry

A critical element that is relatively new is territory optimization and we will examine the case for this in this article. Secondly, it forces companies to think about how territory, quota, role, and incentive design fit together to develop an efficient, motivated salesforce.

Why Automate Sales Compensation Management

OpenSymmetry

The need to automate territory and quota management will be driven by the dependency of the incentive plan on more complex quota setting and territory alignment challenges.

A Forthcoming Shift of Pharmaceutical Sales Compensation Plans?

OpenSymmetry

In some cases, incentive compensation (IC) methods have evolved to align with new regulations regarding specific sales metrics. Bowe claims this could be a source of the overdose crisis and a case of crossing the fine line between sales incentives and public health.

A Forthcoming Shift of Pharmaceutical Sales Compensation Plans?

OpenSymmetry

In some cases, incentive compensation (IC) methods have evolved to align with new regulations regarding specific sales metrics. For example, Corporate Integrity Agreements (CIAs) were implemented by the DoJ as a way to curtail off-label drug promotion which forced companies to ensure their sales incentives encouraged proper compliance. Bowe claims this could be a source of the overdose crisis and a case of crossing the fine line between sales incentives and public health.

Mo’ Adjustments, Mo’ Problems – and Mo’ Sales Comp Admins Won’t Solve Them

OpenSymmetry

How likely is your sales incentive plan going to be dead on arrival, riddled with holes caused by requests for changes and exceptions? At least three months prior to the new year, finance teams slave over intricate details and policies for sales incentive plans to make for a smoother payroll cycle next year. Subscribe to our blog for more articles on streamlining your incentive compensation and current tips and trends in the field.

Improving the Sales Organization’s Change Readiness

OpenSymmetry

In this article we set out three key elements for successful change management– gaining a clear understanding of the change challenge, understanding and improving your change capability, and effectively managing and delivering change. Meeting the Change Readiness Challenge.

Flawless Execution Starts With Strategic Planning: A Roadmap for January 2017

OpenSymmetry

On the OpenSymmetry blog, we’re starting 2017 with fresh perspectives on what it takes to evaluate, implement, and leverage incentive compensation solutions to make the biggest impact on a company’s bottom line. In the next two months, we’ll be focusing on topics about building the framework for evaluation and pre-implementation processes for incentive compensation solutions. Strategy ICM Incentive Compensation roadmap Sales Comp Sales Compensation

Crawl, Walk, Run – Three Small Steps for a Successful ICM Implementation

OpenSymmetry

As I work with companies to weigh different best-of-breed Incentive Compensation Management (ICM) platforms that might be optimal for their situations, I frequently witness companies grasp the robust capabilities of these solutions and immediately try to start sprinting to that ideal end state straight out of the gate. Found this article helpful? Communication ICM Incentive Compensation Management Strategy

How Top CEOs Get the Most Out of a New Product Launch

Sales Benchmark Index

Reward Product Management and Customer Support with sales incentives. This may sound counter-intuitive, but I’ll explain in the rest of the article. You are close to launching a new product. As CEO, ask yourself a question.

Is the Commission – Quota Sales Model Dead?

Adaptive Business Services

It’s not very often when an article gets me so agitated that I feel that I have to respond but, this one did … No Commissions, No Quota: the Future Model for Sales? Looking at the article comments … it seems that I’m not alone in my disappointment. Salespeople need and want incentives and a company needs salespeople. Now, the author does suggest that incentives could be based on customer retention and satisfaction. Articles Sales 101 compensation Selling

Free Trials Are Nice, But You’ll Be Broke Without Customers – Here’s 8 Ways To Convert Them.

Sales Hacker

You could also try offering a time-sensitive incentive to upgrade before the free trial ends. Sales & Marketing ArticlesFree trials are a great marketing tactic. Everyone loves free. Signing up for one is easy. A first name here, an email address there, and you have access.

Customer Follow-up Improves With Automation

Fill the Funnel

This is a program that offers incentives for customers to buy more from you. Original article: Customer Follow-up Improves With Automation ©2016 Fill the Funnel. Why is customer follow-up important? It’s not enough to get your customer to buy.

New Managers Want to Succeed! Are You Helping Them?

Steven Rosen

The opportunity to progress to the next level can be a great incentive for many sales reps. My Article, “ Are You Leading Your Sales Team to Defeat? Congratulations you have been promoted and you are now the sales manager! You have been a top performing rep and you are wired to succeed.

Survey 103

Sales force management and millennials

Sales Training Connection

Best advice: Rather than trying to figure out what particular incentive or behavioral gimmick is going to make millennials more committed and less likely to leave instead focus on the fundamental. Millennials.

Dispatching sales coaching myths and best practices – A STC Classic

Sales Training Connection

A lack of well-defined incentives for sales coaching usually makes the list, too. . Technorati Tags: sales best practices , sales coaching , sales management coaching , sales training , sales training articles , sales training blogs. A Classic - '63 Corvette.

Social Selling: What the Sales Pros Do Differently

No More Cold Calling

If you plug in a URL from your blog post or upload an article, Onalytica provides a list of all of the influencers who write on the same or similar topics. To me, a “pay to play” approach is akin to offering incentives for clients who provide referrals.

The Sales SVP Guide to Finishing the Fiscal Year

Sales Benchmark Index

It’s a concise guide to our best articles about managing this time of year. This article reviews ways to foster better performance among your “B” players. Specifically: You tend to offer additional incentives to customers or channel partners.

How to Assess and Sequence Your Sales Initiatives

Sales Benchmark Index

My colleague Dan Perry wrote an excellent article on sequence. Let’s incent everyone to sell more new logo business” he said. Incenting new logo business only further frustrated the sales force. A few weeks ago, I was talking to an SVP of sales. The topic was his number.

Build or Buy? A Vendor-Agnostic Evaluation for ICM

OpenSymmetry

Whether it involves sun-setting a legacy incentive compensation management (ICM) system or upgrading from loosely-structured spreadsheet systems, there comes a critical point in any IT modernization process where a decision must be made to refactor an aging system, move towards full replacement, or purchase an off-the-shelf solution to meet the needs of the business. Incentive Compensation Management (ICM) systems are faced with many of the same complexities as an ERP implementation.

Mylan Sold Its Soul – Will Your Sales Team?

OpenSymmetry

From executive compensation and incentive strategies to the legislative framework, we will dissect this case to address the fact that this is not just a problem plaguing Big Pharma, but any entity that drives people within the organization to a goal through incentive compensation. Mylan’s Executive Compensation Structure – The Incentive Plan that Started It All. The principle demonstrated in this high profile case is that incentives undoubtedly drive behavior.

Look for Potential in the Next Generation of Sales Hires

Understanding the Sales Force

Understanding the Sales Force by Dave Kurlan The Harvard Business Review finally published a relevant article that I agreed with! Much too frequently, their articles on selling are written by out-of-touch researchers with little field experience and lots of theories.

Sales Tips: How to Herd Cats in Buying Committees

Customer Centric Selling

Once compelling value has been established, buyers are incented to accelerate the decision process as they realize delays mean benefits are not being realized. Read more sales training articles for helpful sales tips and techniques from CustomerCentric Selling® - The Sales Training Company.

How B2B Reps Use Social Debt to Get Sales Support

Sales Benchmark Index

Incentive Structure. Even when their virtual team has no monetary or organizational incentive to do so. Share articles and market insights you gain from the field. B2B Sales Reps compete with their peers for sales support resources.

B2B 109

No One Wants Your Cold Calls

No More Cold Calling

For example, I read a lot of online content, particularly articles that cite research relevant to my clients or to my own business. If your answer is the latter, ensure sales reps are trained how to ask, and that they’re measured and incented based on specific referral activities.

Let’s Make a Deal: The Mysteries of SPM Platform Selections

OpenSymmetry

Many of you reading this article will remember the TV game show Let’s Make a Deal starring Monty Hall. Will the latter of the two most effectively solve my business process and technology challenges surrounding the entire sphere of incentive compensation use cases?

Sales Training Article about Premature Closes

Customer Centric Selling

Sales Training Article: Premature Closes. In such cases, sellers must ask for the business early, but it''s risky and the following outcomes are likely: You get the business, but often have to discount to incent the buyer.

Solving the SDR to AE Handoff: An Actionable Guide for Sales Development Leaders

Sales Hacker

In this article, I’ll analyze the core issues that are deeply rooted within the SDR AE handoff process, and propose a few actionable solutions to address it, along with general best practices to follow. .

Sales 28

[Message to Management]: Top Earners Deserve More of Your Time

No More Cold Calling

Now it’s up to the sales manager to coach, motivate, and incent everyone else—the average performers. Opportunities to grow, learn, and advance are much better incentives. Read the rest of the article.)

Heavy Hitter Sales Blog: Personality Study of 1000 Top Salespeople.

HeavyHitter Sales

Here’s one of my recent Harvard Business Review articles about the Seven Personality Traits of Top Salespeople. In addition, tests were administered at Presidents Club meetings (the incentive trip that top salespeople are awarded by their company for their outstanding performance). Other Articles That Might Interest You: Harvard Business Review Sales Articles by Steve W. Heavy Hitter Sales Blog. Recent Posts. A Salespersons Most Important Competitive Weapon.

Study 23

Consultative Selling, Commitment and Training - Like Oil & Water

Understanding the Sales Force

The Huffington Post and the Hubspot Blog both published an article, by Dan Lyons about OMG and Kurlan and what it takes to succeed in sales. This article was named Top Sales Article for last week and this article was named a Top 10 Sales Article for last week, both over at Top Sales World.