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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.

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

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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

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

How to Make Sure You Aren’t Paying 10 People for One Deal

Sales Benchmark Index

Article Corporate Strategy Private Equity and Activist Investor Sales Strategy SBI on Demand compensation compensation planning incentive plan pay too many sales sales comp sales compensation sales incentive sales reps

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.

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”.

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

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.

Is Performance Killing Your Culture or Is Culture Killing Your Performance?

Tech Bytes

A recent HBS article confirmed what we all intuitively know: Well-executed quotas and bonus programs are highly effective tools for motivating sales teams. Kyle Heller sales ZS Associates incentive ZS compensation High Tech sales team culture

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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.

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.

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.

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.

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

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.

Guest Article: Overcoming “Failure to Impact” Syndrome, by Steven Rosen

Sales and Management Blog

Create a better incentive plan. This year was tough; next year’s sales prospects look even tougher. Your boss comes to you and says how can you sustain the sales force? What can you do? The typical response goes like this: You devise several homemade remedies to ensure you do better next year. You develop a plan to do one or more of the following: Develop a new selling skills program. Hire only top sales reps. Focus on growing key customers.

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.

Are Your Employees Waving Away Customers?

Vertical Response

This article by VerticalResponse CEO and founder Janine Popick originally appeared on Inc.com. Give them incentives. Customer Service Customer service email marketing employe stock options employee benefits employee incentives human resources motivating employees

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.

Non-Cash Incentives

LeapComp

I briefly talked about non-cash incentives here , but I need to repeat some of these fundamentals to introduce tomorrow’s topic. Whenever I need to know anything about non-cash rewards, I turn to Paul Hebert who runs the Incentive Intelligence blog.

Percent of Revenue Spent on Sales Incentives?

LeapComp

I recently wrote about a Callidus press release claiming that Telcos in EMEA typically spent 10% of their revenue on incentive compensation. Keep in mind that this survey was for small businesses, but the majority of respondents spend 5-10% of their revenues on sales incentives.

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.

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Sales Incentives and Profitability Key Points

LeapComp

Through this week I posted a long article “Quality versus Quantity: Aligning Sales Incentives with Profitability” broken down in 5 parts. Part 1 : The first part of the series introduced the concept of aligning incentives and profitability and talked about the difference between incentive, bonus and recognition. Uncategorized Alignment Sales Compensation sales incentives Sales Incentives profitability Scott Barton

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.

Incentive Compensation and Total Reward Strategies During a Recession

LeapComp

In a strong economy, one of the major arguments in favor of incentive compensation is employee retention. Some of them are currently looking at cutting costs, cutting incentive programs, cutting rewards, cutting travel, increasing quota amounts, etc.

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.

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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.

Quality versus Quantity: Aligning Sales Incentives with Profitability (Part 3)

LeapComp

Clear, timely reporting remains the greatest hurdle to using profitability in the sales incentive plan. For purposes of sales motivation and incentives, your quality metric is dead on arrival if there is widespread perception or poor data quality. Therefore, test the metric’s reporting accuracy thoroughly before applying to incentives. Data Rules.

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.

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.

Incentive Compensation Screw Up at Hewlett Packard

LeapComp

An Article in the Wall Street Journal talks about the recent challenges HP is having with their in-house incentive compensation system. According to the article, one of the major reasons for these problems is that the solution did not scale up very well to HP’s growth.

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.

Perspective on the Philosphy of Incentives and Can They Really Help you Achieve your Objectives

LeapComp

Here is an interesting article with an example of Kant’s theory: Suppose that I, a rich Westerner, ought to make a contribution to charity to relieve poverty in the developing world, and that I am well aware of this fact. According to this article , that’s a pretty hopeless endeavor.

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.

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.

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 101