The Spiff Blog

OCTOBER 19, 2023

Metrics to prioritize may include: Renewal rate Upsell rate Churn rate Average deal size Average contract value increase Products sold per customer Customer lifetime value Of course, an effective sales compensation transformation doesn’t mean shifting completely from new business to a retention-driven approach.

Compensation 83

Compensation Incentives Incentive Commission 83

Zoominfo

MAY 20, 2021

That statistic alone offers an incentive for brands to take a closer look at their email marketing strategy and to maximize return. Stage 4: Dormant Subscribers, Unsubscribers, and Churn In stage four, email can be used to determine which customers are no longer interested in your brand or doing business with it.

Email Marketing 130

Email Marketing Benefit Webinar Metrics Marketing 130

The Spiff Blog

JUNE 1, 2023

Most clawbacks require a salesperson to return previously paid commission when a customer churns or cancels their purchase within a designated time period. The customer churns two months later, triggering the four-month clawback provision that the rep’s employer has implemented. That’s easier to enforce and understand.

Commission 77

Commission Compensation Cancellation Strategy 77

The Spiff Blog

AUGUST 17, 2023

Your goal is to offer the right incentive to drive specific sales behaviors. That’s why commission plans often miss the mark— either offering a suboptimal pay mix that doesn’t drive performance, or overshooting incentives and driving unnecessary costs. For example, what’s the relationship between deal size and customer churn?

Commission 77

Commission Compensation Incentives Incentive 77

Hubspot Sales

MAY 18, 2018

The incentive for your reps to meet their quota? So what’s the incentive for meeting these smaller goals? Don’t have the budget to offer monetary incentive? Provide an incentive that’s only awarded when everyone meets the goal. Need your team to close more enterprise deals? Incentivize goals. No problem.

Sales Goal 145

Sales Goal Incentives Incentive Quota 145

Sales and Marketing Management

OCTOBER 21, 2019

That, in turn, leads to greater sales rep churn. Sales has a lot of incentive to bring in revenue, but they need the right tools to do it efficiently and effectively. Giles House is the general manager of SAP , a market leader in enterprise application software. But this isn’t just a problem for salespeople in their day-to-day.

Top of Funnel 136

Top of Funnel Hiring Commission SAP 136

Crunchbase

JANUARY 18, 2022

If necessary, throw in an incentive to make it happen. For example, in general, small businesses tend to convert faster than larger enterprises with multiple decision-makers involved. Best for over-the-phone B2B sales Enterprise ? Step 4 – Close the deal : It’s what every sales process is leading up to.

Sales Process 85

Sales Process Lead Rank Sales Qualified Lead Lead Scoring 85

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. What’s the difference between the “how” and the “why” of sales compensation?

Compensation 84

Compensation Commission How To Incentives 84

The Spiff Blog

NOVEMBER 17, 2022

” Alfie Kohn, Author of Punished by Rewards: The Trouble with Gold Stars, Incentive Plans, A’s, Praise and Other Bribes. Douglas McGregor , Author of The Human Side of Enterprise. Companies with high churn aren’t sustainable.”. Douglas McGregor , Author of The Human Side of Enterprise.

Compensation 72

Compensation Commission Motivation Incentives 72

Sales Hacker

JUNE 29, 2020

Enterprise sales: Some SaaS companies focus more heavily on enterprise sales. A SaaS company that offers enterprise-level packages, high-level packages, and entry-level packages, for example, may engage in all three methods simultaneously. Churn is the rate at which you lose subscribers. Rep knowledge/training.

Lead Rank 78

Lead Rank Strategy Scale Lead Scoring 78

Chorus.ai

MARCH 5, 2021

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. Churn rate target: Are you keeping your churn rate at or below 1%? Step 1: Set clear goals.

Top of Funnel 113

Top of Funnel Webinar Metrics Strategy Buyer Persona 113

Allego

AUGUST 31, 2022

It can sometimes be difficult in your early stages to work out what the average lifetime of a customer is, but you can use Mark Roberge’s formula from The Science of Scaling to get an early indication: LTV = ACV * GM% / [Annual Churn %]. Pricing is also important for achieving negative churn. What’s Your Customer Retention Rate?

Ideal Customer Profile 62

Ideal Customer Profile Hiring Lead Rank Scale 62

Hubspot Sales

JANUARY 19, 2018

Once the prospect has invested time in creating a deal plan, they have more incentive to move forward so their work doesn’t go to waste. In HubSpot’s case, I check for previous purchases of enterprise software. Your job as a sales rep is to find great prospects who will become great clients, which will reduce churn.

Closing 131

Closing Tools Sales Cycle ACT 131

Hubspot Sales

MARCH 21, 2019

To accurately calculate an organization’s sales velocity, start by separating small, mid-market, and enterprise pipelines. Never force a product or service on a buyer who doesn’t need it -- that’s a recipe for losing prospects and churning new customers. Creating Sales Velocity. How Discounts Affect Sales Velocity.

How To 105

How To Sales Cycle Discount Lead Rank 105

Close.io

AUGUST 30, 2019

PLG companies are the ones in the transactional and self-service sphere, while—as I previously mentioned—enterprise products need a more traditional approach to growth. Give them the right incentives to keep using your product. Sales, on the other hand, are ideal for products targeting enterprises. Image source: Marketo.

Top of Funnel 90

Top of Funnel Lead Rank Marketing Sales Qualified Lead 90

Sales Hacker

DECEMBER 29, 2020

Nicolette Mullenix, Snowflake’s Enterprise Sales Director, says Outreach is the pillar that supports their ability to scale. So most of our businesses are a B2B play in that we’re supporting the enterprise segment, all the way down to small businesses, to deliver business docs. But we print for proposals.

Customer 65

Customer Segment Top of Funnel Lead Rank 65

Mindtickle

FEBRUARY 27, 2020

To be successful with the next generation, the secret sauce for senior managers like Eric, is finding the right technology and incentives to recruit, train, and nurture current and new financial advisors into exceptional, client-trusted advisors. High failure rates to be sure, churn is common in the classic wealth-management industry.

Demographics 59

Demographics Ideal Customer Profile Margin Banking 59

Chorus.ai

MARCH 24, 2021

Keeping tabs on these metrics enables you to pinpoint customer types who are particularly suited to your product, those who aren’t, and those who are more likely to churn. Companies need high strategic agility to deal with the continued market flux in the aftermath of COVID, and high retention/low churn rates are more vital than ever before.

Buyer Persona 62

Buyer Persona Top of Funnel Lead Rank Discount 62

LeadFuze

JANUARY 1, 2022

Selling to individuals is usually much easier than selling for large enterprises because it takes less time and you can charge more. Other metrics that are important to track when hiring salespeople include number of deals closed, pipeline stage distribution and churn rate. It needs the incentive of bonuses as well.

Strategy 52

Strategy Lead Rank Outsourcing Services Marketing 52

Mindtickle

FEBRUARY 27, 2020

To be successful with the next generation, the secret sauce for senior managers like Eric, is finding the right technology and incentives to recruit, train, and nurture current and new financial advisors into exceptional, client-trusted advisors. High failure rates to be sure, churn is common in the classic wealth-management industry.

Demographics 52

Demographics Ideal Customer Profile Margin Banking 52

Crunchbase

OCTOBER 26, 2020

This is particularly important in an environment where renewal accounts are growing, but churn rate is accelerating, too. Without enterprise solutions like sales engagement platforms and computer telephony integration, sales teams often spend a lot of time doing non-sales-related and inefficient activities for most of the day.

Pivotal 105

Pivotal Strategy Face-to-face Consumer 105

Xactly

JUNE 14, 2018

In our recent webinar “How Big Data and AI/ML are Transforming the Enterprise Sales Organization,” Xactly Senior Director of Product Marketing discussed how the SPM space is shifting to become more data-driven, and the critical role data plays in optimizing enterprise sales organizations. Register for Webinar.

Webinar Metrics 10

Webinar Metrics Enterprise Enterprise Data 10

The Spiff Blog

APRIL 7, 2022

Gone are the days when commission, bonuses, and incentive pay were accounted for as direct expenses. Enterprise Resource Planning (ERP) software pulls different processes together into one central system. Think about it. ASC 606 changed the game when it comes to revenue reporting. ERP Commission Expensing.

Commission 79

Commission Software Software Vendor 79

PandaDoc

JULY 11, 2022

However, you should also be prepared to address the churn that comes with the profession and take steps in order to boost retention. Your job posting might be enough to get potential hires in the door, but you’ll still need to cover the basics around expectations, environment, salary, and incentives. You can also mention the perks.

Hiring 52

Hiring How To Salary Scale 52

Mindtickle

OCTOBER 31, 2016

HCL was able to cut pre-join churn by ~90% by engaging millennials during the pre-join period. If your organization has an enterprise-level social network or a group on a public social network like LinkedIn — give new hires access to these digital forums.

Retention 52

Retention Churn Education Motivation 52

Mindtickle

OCTOBER 31, 2016

HCL was able to cut pre-join churn by ~90% by engaging millennials during the pre-join period. If your organization has an enterprise-level social network or a group on a public social network like LinkedIn — give new hires access to these digital forums.

Retention 52

Retention Churn Education Motivation 52

Allbound

SEPTEMBER 12, 2018

Through strategic partnerships with enterprise companies like ServiceNow and Google , Slack is able to expand their offering to include more enterprise customers and connect their tool with the products and services their customers are already using. Take Slack, for example. Sales / Support Partners.

Commission 112

Commission Referrals Hubspot Marketo 112

Close.io

AUGUST 11, 2019

This includes generating leads, outlining sales territories, setting up incentive programs, managing sales analytics, and more. Average revenue per user divided by customer churn. And reducing churn makes a big difference. Sales ops helps sales teams close more deals faster. Customer lifetime value (LTV).

Sales Operations 91

Sales Operations Hiring Top of Funnel Lead Rank 91

Zoominfo

JUNE 25, 2021

This KPI helps the rep understand which discounts are most effective, which can help reach sales objectives faster by attracting prospects with incentives that work. Customer churn rate measures the rate at which you lose customers, most often in the form of cancellations or non-renewals.

Sales Qualified Lead 227

Sales Qualified Lead Top of Funnel B2B Lead Rank 227

SBI

NOVEMBER 7, 2019

In August, Forrester Consulting found that 85 percent of enterprises agree that buyers will dismiss their brand if they don’t provide tailored information. The result for global enterprises like IBM, American Express, PayPal, and Quest Diagnostics is better win rates, larger deals, and higher customer retention. Sales Incentives.

Top of Funnel 52

Top of Funnel Ideal Customer Profile Webinar Metrics Customer 52

Sales Hacker

MAY 9, 2019

Know what to Include in a Sales Incentive Plan. This is what the person would be paid annually and it has two elements; a base salary and a sales incentive held against sales, also known as variable pay. NOTE: We recommend refraining from calling any sales incentives a bonus. Determine Total On-Target Earnings (OTE).

Face-to-face 102

Face-to-face Compensation Commission Lead Rank 102

Bigtincan

SEPTEMBER 8, 2021

Finally, we’ll show, in detail, how Bigtincan sales enablement software helps enterprise level organizations implement and streamline their sales enablement strategy. No one disagrees with these maxims, but the problem we’ve seen in enterprise level sales teams is that well-intentioned sales enablement efforts fail on execution.

Sales Enablement 111

Sales Enablement Strategy Enterprise Enterprise 111

Sales Hacker

APRIL 21, 2022

SaaS companies tend to follow a typical path, and it almost always leads to moving up-market and enterprise sales. You’ll need to acquire less customers to generate the same amount of revenue and bigger companies have a lower churn rate. An Explainer on Enterprise Sales. How to attract enterprise buyers. I’m not kidding.

Ideal Customer Profile 85

Ideal Customer Profile Marketing Enterprise Enterprise 85

Sales Hacker

NOVEMBER 16, 2021

Automatic churn signal triggers. Advanced features for enterprise growth and multiple account management. Price: They offer flexible plans for small to enterprise businesses that are personalized to each brand. Price: From $50 per month with a free basic account option for testing. Key features: Drag-and-drop interface.

Paid Content 108

Paid Content Lead Generation Lead Rank Lead Scoring 108

Sales Hacker

MAY 26, 2020

You’re VP of sales now but if this turns out to be what we’re hoping, I’d like you to own all revenue, we’re going to have a big international component of our business, you’re going to own churn and retention for the first time.” That’s not my background; mine is more enterprise SaaS.

Research 95

Research Hiring Ideal Customer Profile Prospecting 95