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.

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Compensation Incentives Incentive Commission 83

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.

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Commission Compensation Cancellation Strategy 77

SalesLoft

OCTOBER 26, 2023

Beyond providing a positive experience, customer engagement campaigns give new and returning buyers a reason to involve themselves more deeply with a brand, generating data that helps to improve customer success, reduce churn, and measure customer lifetime value. The rest contribute to customer churn.

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Scale Customer Loyalty Social Media 52

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?

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Commission Compensation Incentives Incentive 77

Close.io

OCTOBER 22, 2019

But you as a SaaS business want to sign them up for annual deals when possible since that's going to increase cashflow and predictability and decrease your churn. Because you want to understand churn first and see how long people stick around by choice. In their MRR churn study, Price Intelligently found that SaaS companies.

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Churn Hiring Discount How To 77

Highspot

OCTOBER 11, 2023

Incentives and Recognition Reward top performers with appropriate incentives and recognition. Incentives, training, engagement, and process strategies are proven to work based on the motivation and urgency they drive upon sellers. Churn Rate: The percentage of customers who stop doing business with your company.

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Sales Management Strategy Lead Rank Lead Scoring 59

The Spiff Blog

APRIL 21, 2022

Employee churn is costing your sales organization— big time. Although the cost associated with investing in commission software might give you pause, the cost of manually processing commissions at a growing organization is universally astronomical— especially where turnover is concerned. Why so high? Think about it. Let’s get started.

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Hiring Commission Compensation Churn 70

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.

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Top of Funnel Hiring Commission SAP 136

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. Recommended reading: The Sales Commission Software Buyer’s Guide [Checklist] 2.

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Compensation Commission How To Incentives 84

Crunchbase

JANUARY 18, 2022

Software as a Service (SaaS) is everywhere. But despite its widespread appeal, SaaS isn’t just selling software like you’d once have sold a loaf of bread. SaaS products are subscription-based software services hosted by cloud-based service providers. If necessary, throw in an incentive to make it happen.

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Sales Process Lead Rank Sales Qualified Lead Lead Scoring 85

Mereo

MAY 25, 2023

Selling companies like the subscription pricing approach (whether or not they have a software as a service offering or leased physical product) because it creates a more predictable revenue stream. Remember, having to update your pricing strategy for current customers often results in churn.

Strategy 36

Strategy Workbooks Discount Churn 36

PandaDoc

DECEMBER 21, 2020

Companies following Software as a Service (SaaS) business models can face challenges regarding generating revenue and growth. SaaS businesses provide services across online markets that are saturated with software offering similar services. This could be a subtle way to remind them of the value your software solution provides.

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Churn Lead Rank Retention Discount 52

Allbound

OCTOBER 31, 2018

If the partners you do recruit aren’t the ideal fit, they are likely to churn. In fact, partners churn about 10% of their vendors per year. In addition to referral commission, helping your partners feel well educated and prepared to have conversations with your customers is a huge incentive. Get ‘em, tiger!

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Churn Incentives Incentive Vendor 74

Highspot

FEBRUARY 15, 2022

increase revenue by $1M) so that you can benchmark your performance, and have your tools and software set up to track your progress toward the goal (i.e. new deals closed, repeat purchases, and customer churn). As a result, setting a goal with an incentive can help you increase the number of outbound calls your team makes.

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Sales Goal Examples Top of Funnel Churn 59

Sales Hacker

JUNE 29, 2020

Software as a service (SaaS) has become extremely popular due to its scalability and ability to address almost any individual or business need. SaaS companies that offer expensive, complex products like ERP software that costs $50,000 per year often use this sales model. Churn is the rate at which you lose subscribers.

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Lead Rank Strategy Scale Lead Scoring 78

Apptivo

MARCH 29, 2023

Nevertheless, if you want to be successful in your online business, you need to use the right email marketing software. Suzy is a qualitative market research software that has advanced research capabilities. You can get real-time data from the software’s broad audience of one million customers.

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Webinar Metrics Strategy Customer Loyalty 52

The Spiff Blog

APRIL 7, 2022

Gone are the days when commission, bonuses, and incentive pay were accounted for as direct expenses. It’s also more familiar— you can jump right in to your next ASC 606 report without having to stop and learn a new software. Bespoke software is technically customizable— for your vendor’s engineers. Think about it.

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Commission Software Software Vendor 79

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%? Start with your customer relationship management (CRM) software.

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Top of Funnel Webinar Metrics Strategy Buyer Persona 113

LeadBoxer

JANUARY 10, 2021

Therefore, it’s essential that account managers work to provide excellent service and ensure buyer success to avoid churn or the loss of customers over time. If your sales team is hustling to get anybody and everybody to sign up for your product or service, chances are they’re signing new clients who are destined to churn.

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Account Lead Rank Lead Scoring Commission 97

LeadFuze

MAY 26, 2021

It’s important to provide regular feedback on performance, even with modern software systems. If you’re not celebrating the good times, you’ll likely struggle to make it through the bad times without high churn. However, the goal of engagement software and gamification systems should not be to “replace” current forms of recognition.

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Hiring Software Software System 91

The Spiff Blog

JANUARY 25, 2022

Your company can’t effectively upsell, cross-sell, manage renewals, or reduce churn unless your sales, marketing, and customer success teams are all on the same page. In 2021, organizations used an average of 100 different software applications ( source ). Departmental silos, however, often get in the way. About Spiff.

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Hiring Scale Top of Funnel Funnel 52

The Spiff Blog

SEPTEMBER 22, 2022

Companies with high churn aren’t sustainable.”. But, a larger team with a dedicated tool or commission software is likely able to handle plans requiring more flexibility. The platform enables finance and sales operations teams to self-manage complex incentive compensation plans and provides transparency for sales teams.

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Groups Conversion Commission Lead Rank 67

Tony Hughes

MAY 12, 2019

He inspired me to dig deeper into WiseTech, a cloud Software as a Service (SaaS) provider for the global freight and logistics industry. 99% of their revenue is 'recurring' (SaaS) and with less than 1% customer churn. Add to this the fact that they have cured 'the cancer of customer churn' and it's a very impressive operation.

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Revenue Hiring Marketing NetSuite 65

SendBuzz

APRIL 19, 2023

Businesses that effectively engage their B2B customers, experience a significant 63% drop in customer churn. A few more- According to a survey, 75% of consumers have a positive inclination towards companies that provide rewards programs or incentives. In fact, 82% of businesses agree! That’s where email automation tools come in.

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Conversion Strategy Customer Social Media 78

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.

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Closing Tools Sales Cycle Churn 131

Hubspot Sales

JUNE 16, 2022

Examples of sales goals include increasing customer retention (the number of first-time customers that turn into repeat buyers) or decreasing customer churn (the percentage of customers that stopped using your company’s product or service during a specific time frame). You can offer employee rewards and incentives.

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Sales Goal Examples Sales Management Hiring 78

Sales Hacker

FEBRUARY 12, 2021

As businesses grow, their software requirements grow as well. As businesses grow and adapt, software shouldn’t hold them back. HubSpot and Salesforce are top two enterprise CRM solutions, according to user ratings and reviews on G2, Capterra, and Software Advice. What is an enterprise CRM software? Average Rating: 4.43.

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Enterprise Enterprise CRM NetSuite 84

Nutshell

OCTOBER 8, 2018

KATHERINE MAYS, HEAD OF CUSTOMER EXPERIENCE “I was focused on keeping customer churn to a minimum, which meant preparing the CX team to have conversations with potentially frustrated customers, and identifying which of our Classic customers would benefit from some one-on-one outreach in advance.”.

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Churn Lead Rank Lead Scoring Cancellation 124

Sales Hacker

NOVEMBER 16, 2021

Automatic churn signal triggers. SalesHandy is software that lets businesses and sales teams automate and track their email outreach from Gmail and Outlook. It’s a robust software solution that integrates marketing, CRM, and analytics collection (e.g. Two-way synchronization with email marketing software. SalesHandy.

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Paid Content Lead Generation Lead Rank Lead Scoring 108

Close.io

AUGUST 30, 2019

In the last few years, there has been a radical shift in the way people use and buy software. When a software company chooses product-led growth as its go-to-market strategy it means that: It relies on product usage and customer experience to acquire new users, retain its existing ones and expand its user base. Final thoughts.

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Top of Funnel Lead Rank Marketing Sales Qualified Lead 90

Highspot

NOVEMBER 21, 2023

Creating a motivating compensation plan with incentives. Embrace tech tools: Make the most of sales training software to make learning convenient and cutting-edge. Identifying key performance indicators (KPIs) to monitor progress. Adopting advanced technological tools, like CRMs, to enhance sales efforts.

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Sales Management Strategy Lead Rank Coaching 52

Sales Hacker

JUNE 19, 2019

Today’s chatbots can integrate with your CRM software, so you can essentially configure it to be a “leadbot.” Here’s just a taste of what’s possible when you use chatbots for lead gen … At their most basic, you can automate chatbots to interact with prospects and qualify them as leads. A Good Fit for Today’s Sales Environment.

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Campaigns Top of Funnel Lead Gen Scale 94

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.

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Buyer Persona Top of Funnel Lead Rank Discount 62

SalesLoft

SEPTEMBER 19, 2022

You can also leverage data to address retention, churn rates, conversion rates, and more for smarter sales management. Some causes of an underperforming pipeline include poor CTAs, inadequate follow-up, lackluster buyer incentives, and limited insight into new customers. How to Optimize Your Sales Funnel.

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Top of Funnel Funnel Examples Lead Rank 52

Crunchbase

OCTOBER 26, 2020

This is particularly important in an environment where renewal accounts are growing, but churn rate is accelerating, too. A digital sales transformation needs more than just software. Consider developing some incentives and friendly competition to motivate your reps and help them pursue their goals more consistently.

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Pivotal Strategy Face-to-face Consumer 105

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.

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Hiring How To Salary Scale 52

Sales Hacker

APRIL 21, 2022

You’ll need to acquire less customers to generate the same amount of revenue and bigger companies have a lower churn rate. Enterprise buyers typically have a certain window of opportunity every year to buy a new piece of software. These enterprise features are usually the incentive for the company to purchase the bigger package.

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Ideal Customer Profile Marketing Enterprise Enterprise 85