The Spiff Blog

AUGUST 22, 2023

For maximum efficiency, the tools that make up your RevOps tech stack— including CRMs, sales enablement tools, analytics and reporting platforms, and so on— must offer the necessary automation and customization capabilities to support agile RevOps strategies. Maybe a tool no longer aligns with current workflows.

Strategy 74

Strategy Compensation Commission ROI 74

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. Modern technology: Implement tech tools that simplify tasks and enhance sales team efforts.

Sales Management 59

Sales Management Strategy Lead Rank Lead Scoring 59

SBI Growth

SEPTEMBER 26, 2012

Provide case studies that prove you can execute. Case studies help reduce your customer's fear of risk. They relate to the problem the customer in the study was solving for. Buyers know that reps are trying to make a commission check. This tool helps you do the following: Identify risks from the customer’s point of view.

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Closing Lead Rank Lead Scoring Customer 303

SBI Growth

FEBRUARY 5, 2014

The first monthly commission statements will soon be in your sales reps'' hands. To make your assessment easy, SBI has created a 10-point Compensation Inspection tool. This simple, free, downloadable tool reveals the vital signs of your plan. Erik Charles is the Principal Incentive Strategist at Xactly Corp.

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Compensation Territories Hiring Commission 120

The Spiff Blog

JANUARY 12, 2022

And yet, far too often companies lean on salary as their main tool to improve cultural issues like low job satisfaction, lack of motivation , and poor performance. You know, the pyramid we all studied in Psych 101? Maybe you make a few small tweaks and changes as you go, but eventually, you set it and forget it. See what we did there?

Compensation 52

Compensation Strategy Salary Commission 52

Pipeline

OCTOBER 16, 2023

Therefore, to ensure an objective analysis in an isolated environment (controlled variables of industries and the CRM software), we’ll take a look at some of Pipeline CRM’s case studies. For instance, if you adopt an expensive CRM tool but don’t use it properly, you’ll get a low or even negative return on investment. Learn more.

Maximizer 52

Maximizer CRM ROI How To 52

The ROI Guy

APRIL 12, 2013

You’ve worked hard to produce new value-focused tools, empowering your sales team to meet the growing challenges of today’s more empowered, skeptical and frugal buyer. And you are not alone, as SiriusDecisions reports that the average company now spends a whopping $43K on marketing content and sales tools per salesperson per year.

Sales Tools 68

Sales Tools Tools Incentives Incentive 68

The Spiff Blog

OCTOBER 28, 2022

This is often compounded by the lack of visibility reps have when it comes to sales commission. These include exercise incentives, free mindfulness tools, and practical advice about relieving workplace stress. You can successfully solve rep burnout and improve sales performance with the help of the right tools and systems.

Commission 78

Commission Lead Rank Lead Scoring Hiring 78

Allbound

SEPTEMBER 12, 2018

Each of these companies operates a comprehensive partner program, providing benefits to their partners ranging from the free use of software to referral commissions—even helping them celebrate their wins on social media. Study them, learn from them, and apply their best practices in your own partner programs. Sales / Support Partners.

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Commission Referrals Hubspot Marketo 112

The Spiff Blog

FEBRUARY 24, 2022

From a breakdown of each commission calculation to activities happening within any given account, all data points are valuable to your reps. One study from the University of California, Irvine found that if you’re interrupted at work, it takes an average of 23 minutes to refocus ( source ). Which commission structure is most effective?

Commission 56

Commission Compensation How To Data 56

Xactly

MARCH 22, 2018

Most of the time when I speak about the middle performers, it is because I am trying to convince a sales leader that there is value in focusing on the middle performers rather than explaining the sales incentive tools available to increase their performance. Final Thoughts–Aim for Simplicity.

Compensation 64

Compensation Motivation Commission How To 64

Sales Hacker

JUNE 14, 2019

According to a recent Salesforce study , poor data hygiene costs the average business nearly 30% of its revenue, amounting to a total economic loss of a whopping $700 billion a year. What’s the #1 incentive you can use with your reps? Align incentives. Align Incentives. RELATED: The Real Cost of Dirty CRM Data.

Data 68

Data Closing Prospecting Incentives 68

Xactly

SEPTEMBER 5, 2018

MBOs can be an extremely useful tool in addition to your sales commission structure because they give each rep individual goals to strengthen the overall sales organization. An MBO program is a great tool for driving the behavior of non-sales-related activities, too. Setting Goals That Drive Sales Engagement. Online Marketing.

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Examples Compensation Incentives Incentive 78

Hubspot Sales

APRIL 11, 2023

One LinkedIn study found that 64% of recruiting professionals believe that the job search will be more favorable to candidates (as opposed to employers) over the next five years. This is especially true for sales representatives who are paid on a commission-only basis. Leverage tools that save your team time.

Churn 114

Churn Hiring Survey Hubspot 114

Zoominfo

MAY 13, 2018

According to one study, eight out of ten people say they’re stressed from work ( source ). Because sales is often commission-based and money-driven, stress and pressure run rampant. Start small, and expand your incentive program as you learn and grow. Look into prospecting tools. Keep reading! Hire new talent.

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Hiring Sales Qualified Lead Lead Rank Lead Scoring 258

PandaDoc

APRIL 3, 2023

See also: 13 best sales collaboration tools to empower your team How to be a great manager: 10 training techniques Being a great manager is not a skill people are just born with. For example: Using a case study and practicing it in the field can give more context and build confidence in your sales team.

Training 98

Training Hiring Construction Case Study 98

The Spiff Blog

SEPTEMBER 14, 2023

Take commission plan creation, for example. An AI-powered tool that can automate plan creation based on simple inputs transforms an arduous and time-consuming activity into a hyper-efficient process– leaving compensation managers with more time to be strategic. On the surface, AI may seem like an inherently unbiased tool.

Commission 84

Commission Account Compensation Face-to-face 84

Growbots

SEPTEMBER 19, 2018

This situation can be financially devastating considering a recent DePaul University study that found that the average turnover cost of a salesperson is $97,690. That same study found that half of the salespeople that leave a company voluntarily resign while 33% are involuntary dismissals and 22% are due to retirement.

Compensation 55

Compensation Salary Incentives Incentive 55

Velocify

JUNE 28, 2017

See full study for more. Buyer and company intelligence tools provide sales professionals the insight needed to get the conversation going. 6) Incentives and Commissions. The compensation process for incentives and commissions can be automated with software to reduce overpayment errors.

Sales Technology 53

Sales Technology Top of Funnel Hiring Software 53

Sales Evangelist

APRIL 30, 2020

Tim Houlihan and Dr. Kurt Nelson are consultants who have spent more than 20 years working with companies to design incentives that will increase productivity within sales teams. However, once those needs are met, incentives that are more material or experiential in nature move people into greater effort.

Motivation 52

Motivation Lead Rank Incentives Incentive 52

Xactly

OCTOBER 11, 2018

Watch the webinar, "The Risk and Reward of ASC 606," to discover the impact of ASC 606 to incentive planning and how the tactical need for better data can give companies a strategic advantage. Using automated sales performance management (SPM) and sales forecasting tools, organizations can have a central center for ALL sales performance data.

Sales Forecasts 72

Sales Forecasts Forecasting Data Compensation 72

The Spiff Blog

JULY 20, 2023

Most organizations recognize that their sales commission process isn’t perfect. Companies aren’t ignorant of this problem– many are trying to improve their commission process, as evident by the recent surge of businesses hiring sales compensation managers ( source ). Potential: You continuously optimize sales compensation plans.

Commission 80

Commission Compensation Scale Report 80

The Spiff Blog

JULY 13, 2023

I’m excited to build my future with a competent company, with good values, ​​and above all a place that gives me the tools to make an impact. Stephen Reed, Implementation Specialist Stephen was born in North Carolina and spent most of his childhood moving around the world before settling down in Utah and studying at BYU to become a teacher.

Meeting 71

Meeting Travel Fashion Sports 71

LeadFuze

JANUARY 1, 2022

It turns out that the most important thing is not just pay and commission structure. In an effort to make a little extra money, I signed up some commission-only outsource sales team agents. Sales professionals who work remotely are typically inside salespeople, which means they use the phone and web conferencing tools to sell products.

Outsourcing Services 52

Outsourcing Services Sales Outsourcing Hiring Lead Rank 52

SBI

NOVEMBER 27, 2012

According to studies, the ratio of time spent on non-selling tasks to time spent on selling tasks is 65/35. Variable compensation in the form of commissions and spiffs is really just a form of gamification. The more revenue you generate, the more commission dollars you’ll earn. If you close a deal, you win this spiff or that.

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CRM Wireless SalesForce Commission 133

PandaDoc

JULY 11, 2022

Should you optimize further with powerful proposal tools or new CRMs? 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. Before you begin sifting resumes, take a good look at your current sales flows.

Hiring 52

Hiring How To Salary Scale 52

Mindtickle

FEBRUARY 27, 2020

trillion in client balances, is a great case study for this broader theme playing out across the wealth-management landscape. Managers are clamoring for tools to enable them to coach and guide at scale. Not to mention the demographic shift among his advisors to a younger generation.

Demographics 59

Demographics Ideal Customer Profile Margin Banking 59

Sales Hacker

AUGUST 22, 2019

The more accounts employees opened, the more commission they would receive. That’s especially true when incentives are based on things that don’t necessarily affect the bottom line — they’re just easy to manage without a lot of care. As you might guess, it boils down to how leadership incentivized the sales team. Get that buy-in.

Incentives 68

Incentives Incentive Banking Call-back 68

OpenSymmetry

FEBRUARY 23, 2017

Getting into the swing of 2017, your company is ready to be liberated from the ancient tools handicapping your sales efforts to a mindbendingly slow pace. Take a fresh look at your sales compensation processes before considering the investment of a new tool. Key questions to ask include: How easy is it to change the comp plan?

Compensation 46

Compensation Hiring Commission Churn 46

The Spiff Blog

MARCH 2, 2023

Chris originally pursued a degree in Psychology and Film Studies after which he received his Masters degree in Business. About Spiff Spiff is a new class of software that creates trust across the organization by delivering real-time automation of commission calculations and motivates teams to drive top-line growth.

Meeting 75

Meeting Engineering Travel Face-to-face 75

The Spiff Blog

FEBRUARY 15, 2022

But if you use Excel for commission operations, you’re actually a programmer. This gives you a unique opportunity to optimize your sales commission process like a supercharged engineering team, and gain a serious advantage over your competitors— who are still slogging through their spreadsheets, none the wiser.

Commission 53

Commission Scale Software Software 53

Mindtickle

FEBRUARY 27, 2020

trillion in client balances, is a great case study for this broader theme playing out across the wealth-management landscape. Managers are clamoring for tools to enable them to coach and guide at scale. Not to mention the demographic shift among his advisors to a younger generation.

Demographics 52

Demographics Ideal Customer Profile Margin Banking 52

Xactly

AUGUST 30, 2018

Effective management begins with the realization that you need both sales team management tools as well as reps that are well-trained and prepared for the sales floor. A study conducted by HBR shows that 69% of sales people who exceeded their annual quota, rated their managers as being excellent and above average.

Enterprise 40

Enterprise Enterprise Top of Funnel Compensation 40

Zoominfo

NOVEMBER 3, 2019

According to one study, eight out of ten people say they’re stressed from work ( source ). Because sales is often commission-based and money-driven, stress and pressure run rampant. Start small, and expand your incentive program as you learn and grow. Look into prospecting tools. Keep reading! Hire new talent.

Hiring 100

Hiring Sales Qualified Lead Lead Rank Lead Scoring 100

The Spiff Blog

FEBRUARY 24, 2023

In times like these, it’s important to build habits that will allow you to think on your feet and give you the tools to adeptly handle objections on the fly. Would it be helpful to see case studies we’ve done with companies similar to yours? This framework will help you do just that: Be an active listener.

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Objections Hiring Face-to-face Buyer Persona 80

LeadFuze

DECEMBER 31, 2021

It involves identifying the channels and tools you’re going to use, as well as what resources are needed for that journey. Create an incentive compensation plan for every market segment. There are dozens of marketing channels, tools and growth hacks that you can use. Just to give you an idea. Run a competitor analysis.

Paid Content 52

Paid Content Ideal Customer Profile Top of Funnel B2B 52

LeadFuze

JULY 5, 2023

We’ll also explore how Sales Performance Incentive Funds (SPIFs) play a role in motivating teams. The Impact of Setting Appropriate Targets on Motivation Levels A study by InsideSales.com revealed that clearly defined goals can boost employee engagement and productivity by up to 30%. LeadFuze makes target-setting a breeze.

Motivation 52

Motivation Strategy Incentives Incentive 52