The Spiff Blog

AUGUST 19, 2022

Developing an effective sales compensation plan requires a lot of brain power. It makes sense to focus on behaviors you’d like to incentivize, or pulling certain levers to impact other components of your sales engine. The only remedy is a formal incentive communication strategy. Let’s dive in!

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Incentives Incentive Compensation Commission 81

Sales Hacker

AUGUST 26, 2021

That’s how my friend Stacey describes the way sales compensation plans have changed over the last 15 years of her SaaS career. Why do sales compensation plans have to be so complex? Sales compensation was set up to ensure that reps are suitably rewarded for their performance. get paid commissions at 8%.

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Commission Compensation Incentives Incentive 95

Hubspot Sales

DECEMBER 29, 2021

Incentives are natural motivators — and sometimes, some "natural motivation" is exactly what your salespeople need to perform to the best of their abilities. That's why several companies leverage something known as incentive compensation : the practice of offering financial rewards for professional excellence. Annual Incentives.

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Incentives Incentive Compensation Commission 95

The Spiff Blog

AUGUST 4, 2022

The quick fixes and long term solutions you need to fix your broken sales compensation processes. If you’ve worked in RevOps or Finance for any amount of time, you already know traditional sales compensation processes are broken. Most companies get sales compensation wrong. After all, you’ll always have sales reps to pay.

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Commission Compensation Incentives Incentive 69

The Spiff Blog

APRIL 7, 2022

Gone are the days when commission, bonuses, and incentive pay were accounted for as direct expenses. With all the complexities in ASC 606, your commission expensing process is more critical than ever. Here’s what you can expect: The Four Types of Commission Expensing Solutions: DIY Commission Expensing.

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Canidium

APRIL 20, 2020

Sales leaders are constantly trying to improve sales performance of their teams. Incentive compensation is an effective way that can result in such performance.

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Incentives Incentive Compensation Maximizer 72

Hubspot Sales

APRIL 24, 2019

Compensation is an important factor in attracting and retaining employees, especially in sales. Imagine if almost half of your sales team left the company because of a poorly designed compensation plan. Luckily, I've compiled some resources for you to determine the best sales commission structure for your sales team or yourself.

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The Spiff Blog

AUGUST 11, 2022

Sales commission plans constantly change to reflect shifting business priorities, unstable market conditions, new product releases, and more. With these changes, businesses typically provide reps with something called a change of commission letter– or, sales commission agreement letters. Commission plan.

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Commission Compensation Salary Remedy 77

Sales and Marketing Management

MAY 31, 2020

Sales teams are a particularly unique case as their compensation is likely to be highly leveraged and more sensitive to changes in the marketplace. What happens to the sales force and their commission-based structure? Is top sales talent at risk of leaving if they can’t earn commissions? . Model Costs Accurately.

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Motivation Compensation Incentives Incentive 194

The Spiff Blog

SEPTEMBER 7, 2023

As a sales leader, you already know that effective sales performance management isn’t just setting lofty sales targets and then pushing your team to achieve them. These pillars include organizational alignment, robust reporting, ongoing professional development, incentive compensation, and sales enablement.

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Incentives Incentive Scale Compensation 83

Sales and Marketing Management

MARCH 27, 2019

Author: Mike DeLeonardis, President, North America at beqom Seventy-nine percent of companies say that increasing sales productivity is a strategy they’re using to reach growth targets in 2019, but actually meeting this goal may be a challenge as only 35 percent of average-performing sales reps’ time actually goes to selling.

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Strategy Compensation Incentives Incentive 223

The Spiff Blog

OCTOBER 19, 2023

Believe it or not, the new year is right around the corner– and that means it’s time to plan your sales compensation strategy for 2024. But, in this era of constantly shifting market conditions, it can be difficult to know what changes will best set your sales organization on the path towards success. Don’t worry, we’re here to help!

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Compensation Incentives Incentive Commission 83

Xactly

NOVEMBER 1, 2018

Under the new revenue recognition standard , companies must change the way they report revenue in their accounting for sales commissions. On Oct 17, we held a customer roundtable with Xactly Commission Expense Accounting (CEA) customers. The impact of all commissions paid. How do commission expenses get classified?

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The Spiff Blog

APRIL 11, 2023

If you’ve spent any time in sales, chances are you’ve witnessed gender bias and discrimination in action– even if you weren’t aware of it at the time. That’s why, as part of our ongoing Sell Like a Girl series, we’ve delved deep into the topic of gender bias in male-dominated industries like sales.

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Commission Hiring Face-to-face Incentives 83

Xactly

OCTOBER 18, 2018

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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Incentives Incentive Compensation Webinar Metrics 78

The Spiff Blog

MAY 31, 2022

Convincing your boss to sign off on more resources for sales comp can feel like an uphill battle. After all, does your organization really need to sink even more money into sales compensation ? Compounded over time, even minor blips can erode the trust sales has in the finance team and in the organization as a whole.

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Resources Commission Compensation Hiring 83

Xactly

NOVEMBER 20, 2018

The commission accounting standard has been in effect for public companies since December 2017. Subtopic 340-40, known as “the incremental costs of obtaining a contract,” has a huge effect on how companies’ commission accounting. Take car sales, for example. The deadline for private companies to implement is December 2018.

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Commission Account Compensation ROI 76

Allbound

OCTOBER 16, 2019

Incentive programs are critical to any successful channel sales model. By inspiring or rewarding certain behaviors in your partners, incentives can help steer the course for any successful business relationship. Bronze partners may need stronger incentives than those offered to your gold partners.

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Incentives Incentive Channels Referrals 57

Xactly

JANUARY 2, 2019

The sales planning process can become quite complex, especially when it comes to designing sales compensation plans. Ultimately, the new compensation and incentive plans must successfully motivate the right sales behaviors to achieve goals, all while driving growth. Position: System Manager, Commissions.

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Compensation Incentives Incentive Commission 69

Sales Hacker Training

SEPTEMBER 10, 2018

Good sales leaders are always on the hunt to bring in new talent that can help a business grow. Still, they don’t always nail down the details when it comes to the things that might entice a prospective salesperson — like a well-rounded sales compensation plan , for example. Creating a Winning Sales Incentives Program.

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Xactly

JUNE 7, 2018

Incentive Compensation Management (ICM) solutions help companies manage their sales compensation plans and calculate commission payments. Today’s ICM solutions are aimed at optimizing more than just sales compensation, focusing on end-to-end sales performance management (SPM). Integration is Key.

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Compensation Incentives Incentive Data 60

Xactly

APRIL 9, 2018

Building a successful sales compensation plan carries an incredible amount of responsibility for compensation planning teams. Those tasked with creating a plan must develop a process and incentive plan that will motivate and encourage the right sales behaviors to achieve goals, all while driving growth. Who: Helen Rendos.

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Compensation Incentives Incentive Commission 70

Xactly

APRIL 2, 2018

Whether a company is trying to grow or has reached the Enterprise level, the right sales commission structure can be the difference between hitting your goals or falling flat. Since sales is tasked with increasing revenues, incentives are an important part of achieving those goals.

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Commission Small Business Small Business Enterprise 56

Sales and Marketing Management

OCTOBER 21, 2019

From manual CRM updates, to uninspired training programs or hard-to-find content, the more roadblocks to seamless sales, the more staff becomes demoralized. That, in turn, leads to greater sales rep churn. If you have a community of sales reps who are frustrated and unmotivated, that’s a huge barrier to achieving revenue goals.

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Top of Funnel Hiring Commission SAP 136

Xactly

JUNE 27, 2018

Sales compensation plan can be a complex process. Those who work to create a plan for their company must develop a compensation process and incentive plan that will motivate the right sales behaviors to achieve goals, all while driving growth. Time in sales compensation: 4 years. How were our Sales team compensated?

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Compensation Incentives Incentive Pharmaceuticals 52

Xactly

SEPTEMBER 20, 2018

Sales planning entails many important factors. From territory planning to sales team organization, to sales coaching and leadership strategies to sales compensation planning, each element helps to create a strong sales plan. Position: Sales Operations. Time in sales compensation: 5 years.

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Compensation Incentives Incentive Lead Rank 40

The Spiff Blog

MARCH 8, 2023

Earlier this year, Whitney Sharpe , Vice President of Sales at Mindlance shared a TikTok that has since gone viral. The clip shows her, not in her typical role as a seller, but as a buyer evaluating a piece of software. Sales, specifically, has a long history of being a male-dominated profession due to underlying gender bias.

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Face-to-face Incentives Incentive Commission 76

Xactly

NOVEMBER 15, 2018

When it comes to sales compensation planning, you can never start prepping too early, right? One of the most important things to consider when designing plans are the different roles on your sales team. In this piece, we’ll take a top down approach and start by designing a sales manager compensation plan. Plan Components.

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Compensation Examples Sales Management Incentives 87

Hubspot Sales

APRIL 22, 2021

Just about every modern sales team is thinking about commissions. alone spends $800 billion in commissions to salespeople annually and, for many teams, the process around figuring out who earned what in a given period remains highly manual and error-prone. Image Source.

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Hubspot Commission Compensation Incentives 85

Xactly

JUNE 27, 2018

Sales compensation plan can be a complex process. Those who work to create a plan for their company must develop a compensation process and incentive plan that will motivate the right sales behaviors to achieve goals, all while driving growth. Time in sales compensation: 4 years. How were our Sales team compensated?

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Compensation Incentives Incentive Pharmaceuticals 45

Highspot

OCTOBER 11, 2023

Effective sales management is the core of any successful business. Read on as we break down why strong sales management matters, along with proven strategies to achieve it. It involves planning, organizing, leading, and controlling the sales activities within an organization to achieve its revenue targets and close deals.

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Sales Management Strategy Lead Rank Lead Scoring 59

Hubspot Sales

OCTOBER 2, 2019

As a sales leader, your ability to develop and retain your sales reps is important to your company’s bottom line and future success. Employee retention in the sales field continues to be an issue. In 2018, the average sales professional tenure was reported to be 1.5 Why Sales Performance Management Matters.

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SAP Oracle Compensation Territories 119

Hubspot Sales

JUNE 24, 2019

What does he see as some of the biggest problems in sales teams and scaling them? Where Can You Tie Sales Comp Plans to Customer Success? The biggest problem Mark sees today in the sales world: sales doesn’t care enough about customer success. To Mark, a root problem is sales compensation. People talk the talk.

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Scale Churn Motivation Commission 97

Cincom Smart Selling

MARCH 13, 2017

Configure price quote software makes approving complex sales orders easy and fast. It is amazing what some companies do to make sure they want to accept a deal brought in by their hardworking sales force. Each order went through the following checks: The sales manager confirmed pricing and evaluated commission processing.

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Software Software Discount System 59

The Spiff Blog

SEPTEMBER 22, 2022

With a new year around the corner, it’s time to start thinking about your sales compensation plans for 2023. We recently sat down with Chris Semain, Principal and Tech Practice Leader at the Alexander Group to discuss the future of sales comp. Pivoting your focus mid-operating period rarely goes over well with the sales force.”.

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Groups Conversion Commission Lead Rank 67

Hubspot Sales

JANUARY 9, 2018

What’s a sales plan? A sales plan lays out your objectives, high-level tactics, target audience, and potential obstacles. It’s like a traditional business plan but focuses specifically on your sales strategy. A business plan lays out your goals -- a sales plan describes exactly how you’ll make those happen.

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Xactly

OCTOBER 29, 2018

For sales organizations, sales performance data can be a useful tool to drive strategic planning and increase performance. . Using a sales performance management (SPM) solution to analyze sales performance data, organizations can gain vital insights into the landscape they operate in.

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Data Top of Funnel Territories Compensation 85