Sales Hacker

OCTOBER 7, 2022

Scott Barton, Varicent’s VP of Industry Solutions & 20-year sales compensation industry pro, attended WorldatWork’s 2022 Sales Compensation Conference. Despite these advances, few industry pros currently use predictive or prescriptive analytics for determining sales compensation plan effectiveness.

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Compensation Conference Trends Incentives 76

Sales Hacker

SEPTEMBER 27, 2022

He’s an expert in the sales world, particularly in revenue operations and incentive compensation. Join us for a great conversation about driving the right behaviors within your sales team. Building a compensation structure that works for both salespeople and the company. Subscribe to the Sales Hacker Podcast.

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Compensation Incentives Incentive Quota 80

Xactly

JANUARY 7, 2019

The start of a new year comes with a new sales plan—and that means you must reassess your sales capacity needs , align and balance sales territories , and create a sales incentive plan that drives sales performance. Enter sales compensation planning. What is Pay Mix in Sales Compensation?

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Compensation Incentives Incentive Commission 90

SBI Growth

OCTOBER 29, 2012

This post will help you test a redesigned sales compensation plan to ensure cultural fit. Plus, you’ll find advice on compatibility with other sales effectiveness drivers. Let’s suppose HR is fully engaged for redesign of a 2013 Sales Compensation plan. HR even brought in an expert compensation firm.

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Compensation Hiring Incentives Incentive 253

Xactly

DECEMBER 12, 2018

In today’s post, I’ll talk about territory planning. Territory planning represents the foundation of sales performance management (SPM). You must have the right territory design in place to accurately allocate quotas. Is Your Territory Planning Still Stuck in the Dark Ages? Download Guide. The result?

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Territories Quota Guidelines Software 67

Xactly

OCTOBER 18, 2018

Few leading indicators are more predictive of a company’s future sales performance than its incentive compensation plans. As former Reliance Electric CEO Chuck Ames once said according to General Electric CEO Jack Welch, “Show me a company’s various compensation plans, and I’ll show you how its employees behave.”.

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Incentives Incentive Compensation Webinar Metrics 78

Xactly

JUNE 13, 2018

Effective territory design is the basis of strategic sales planning. Balanced territories allow you to set fair quotas, which have a huge impact on your incentive compensation and success of your salesforce. Ultimately, if your sales territories aren’t optimized, you hinder sales reps’ motivation and performance.

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Territories Travel Webinar Metrics How To 49

Janek Performance Group

MARCH 12, 2024

Many companies tend to underestimate the importance of guidance, training, and support for their new hires, and that tends to be detrimental. Many sales professionals often don’t receive the crucial tools needed for success right away. Make sure you carefully vet and evaluate each candidate applying for a sales position.

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Hiring Sales Talent Compensation Lead Rank 62

Xactly

JULY 18, 2018

In order to manage your sales performance, you need effective sales territory mapping. Sales territory design must be a thoughtful process that involves data and a balancing act to ensure every sales rep has adequate sales potential within their territory. Download Guide.

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Territories Travel Hiring Guidelines 45

Xactly

AUGUST 23, 2018

Sure, you know you need ICM to handle accurate and timely payments, but do you really need automated sales territory planning as well? Although automating technology for territory design can increase your sales up to 20 percent, territory planning is often categorized as a luxury in SPM—instead of as the necessity it is.

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Territories Incentives Incentive Compensation 41

OpenSymmetry

MARCH 16, 2016

The Territory & Quota Management Revolution – New Incentive Compensation Platforms Blazing the Trails to Greater Efficiencies. Gone are the simplistic days of sales reps simply “having a patch” to cover for selling their goods and services. Territory Definition and Modeling.

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Territories Quota Incentives Incentive 40

Hubspot Sales

FEBRUARY 2, 2022

Any professional, across every field and experience level, needs to have a solid understanding of how they're compensated — after all, that's literally the reason you're working in the first place. Your base salary is one of the key elements you need to account for when getting that picture of your compensation package.

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Salary Compensation Incentives Incentive 86

Hubspot Sales

APRIL 24, 2019

Did you know 43% of workers would be willing to leave their companies for a 10% salary increase ? 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.

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Commission Salary Compensation Territories 122

Sales Hacker

DECEMBER 9, 2022

Sales leaders often evaluate prospects and existing customers based on readily available information — order history, and firmographic data (company location, size, industry, etc). Related: The New Growth Formula: Customer Success + Predictive Sales. Related: Your Territory Model Is Hurting Attainment. Try This Instead.

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Lead Rank Territories Lead Scoring Quota 97

Pointclear

MAY 14, 2018

For salespeople and sales managers, few understand the Prime Directive of Sales Management: Enhance Sales Momentum (Never Interrupt It). Sales momentum isn’t about sales skills. It’s measured as a product of its mass and velocity of your sales efforts. Compensation Adjustments.

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Territories Quota Sports Compensation 124

Sales Hacker

OCTOBER 9, 2019

Sales is the most important function with any company, and the sales manager plays a critical role within it. That said… The importance of your sales manager cannot be understated. The sales force drives the company’s revenue and it’s the sales manager’s job to drive the sales force.

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Promotion Sales Management Sales Leadership Hiring 68

Xactly

JANUARY 3, 2019

Sales statistics are a variety of metrics that provide insight into your sales organization’s health. Industry and planning-specific statistics also help guide sales planning and incentive compensation. 10 Sales Statistics for Better Planning. 2018 Sales Comp Administration Survey ).

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Handbook Territories Compensation Incentives 99

Engage Selling

APRIL 2, 2012

Countless commission structures fail despite the best intentions of sales leaders. More fail when sales managers don’t explain their plans properly. That’s no way to grow a company. In 20 years of selling, I’ve never encountered a compensation plan that eliminated all conflicts.

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Compensation Commission Territories Guidelines 79

Xactly

JANUARY 18, 2019

Your sales commission plan is a portion of your sales compensation plan. Ultimately, your sales commission plan motivates reps to close deals and perform specific sales behaviors that align with your company goals. Data is the most important and useful tool for any part of a strategic sales plan.

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Commission Incentives Incentive Compensation 81

Pointclear

AUGUST 17, 2011

Sales managers have six basic jobs—hire, compensate, train, deploy, monitor and manage, and coach and counsel—and they generally fail at the last three. Sales Deployment Most companies deploy reps in traditional ways. Small and mid-sized companies typically assign by geographic territories.

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Sales Management Hiring Territories Compensation 153

Sales Hacker

DECEMBER 12, 2017

With increasing focus on grit and many claims of meritocracies in organizations across the country, why does variable pay compensation even exist? On top of that, why are sales people some of the few employees subject to variable compensation structures? What is Variable Pay Compensation Anyway? are usually not.

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Compensation Hiring Incentives Incentive 79

Fill the Funnel

NOVEMBER 4, 2014

If you lead a sales team or are in a senior level role at your company, you are probably actively engaged in the planning process to ensure you have a successful 2015. A few key questions that sales leaders need to be considering include: Is the sales compensation plan providing the results expected? Web Tools'

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Sales Management Hiring Top of Funnel Lead Rank 118

The Spiff Blog

FEBRUARY 9, 2023

What works for one company won’t necessarily work for another. But one thing sales and RevOps leaders all have in common is that they collectively struggle to set realistic, motivating sales quotas. Here’s why: the sales quota is a key variable in many of the equations that dictate core business functions.

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Quota Revenue Lead Rank Territories 70

OpenSymmetry

JANUARY 27, 2016

All companies are seeking the perfect combination of elements to deliver the highest salesforce effectiveness. A critical element that is relatively new is territory optimization and we will examine the case for this in this article. Finally, deployment of an automated solution generates improved sales performance.

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Territories SalesForce Incentives Incentive 40

OpenSymmetry

MARCH 25, 2015

Sales Performance Management (SPM) has truly evolved over the last 10+ years from the days of having an on-premise solution that primarily automated the compensation calculation process with basic reporting, to a new dynamic frontier with extended capabilities.

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Compensation Cost Per Thousand Territories Forecasting 40

Hubspot Sales

OCTOBER 2, 2019

There is often a disconnect between the level of effort sales reps put into their work and the tangible outcome seen by sales management and the company at large. Let’s talk about why your organization needs to implement a sales performance management strategy. Helps predict future sales trends.

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SAP Oracle Compensation Territories 119

Partners in Excellence

AUGUST 11, 2020

A recent, somewhat extreme example with a large professional services company; they thought their average deal size was significantly above $5M. As a result, sales people spent all their time finding and pursuing those, and were completely missing the large deals. Each sales person, had about 1000 customers in their territories.

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Ideal Customer Profile Territories Compensation Account 91

Zoominfo

OCTOBER 6, 2020

Before jumping the gun and hiring a seasoned veteran or promoting a rep from your (relatively) green team to Sales Manager, you should consider a middle ground: a team lead role for the inbound crew. But we have to warn you, there are sales leaders who will advise otherwise. Are There Risks Associated with A Team Lead Role?

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Lead Rank Lead Scoring Leads Marketing Qualified Lead 169

SBI Growth

SEPTEMBER 23, 2013

VPs of Sales are asking questions like: Is our Sales Process good enough? Are my Sales Managers good enough? Do This— Start with a Sales Strategy Blueprint. To have a sales strategy you can execute, it must follow a structured path. Phase 4 - Sales Infrastructure - Create optimal performance conditions.

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Compensation Social Media Incentives Incentive 325

Partners in Excellence

JULY 30, 2012

The other day I wrote about the “Almost Perfect Sales Management Article.” ” That post stimulated a flurry of questions about a Sales Management Standard Operating Process/System. There are a few key building blocks to the Sales Management/Leadership Process.

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Sales Management Hiring Top of Funnel Territories 86

The Spiff Blog

OCTOBER 6, 2022

Maybe your company is a start-up working in the customer acquisition phase and pounding the pavement hard. But remember that while the execs are driven by revenue and low customer churn, your sales reps are driven by their incentive compensation plans. Prioritize a positive sales culture. Who is the plan structured for?

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Commission Compensation Churn Incentives 75

Score More Sales

JUNE 30, 2014

To win in sales you, and your company, need a recipe for success. The ingredients to win in sales must be pure and of high quality to create a great, high-end, finished product. Here is what we believe it takes to compete with a strong solid sales team that closes the right deals with great sales velocity.

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Hiring Ideal Customer Profile Territories Commission 247

SBI Growth

MARCH 18, 2013

This will help you determine the state of the sale force and if there is a danger of losing your ‘A’ players. Find out all the reasons why sales reps leave. Sales culture pulls top sales people into a company. We have seen companies whose culture hasn’t evolved. But is the manager the root problem?

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Compensation Quota Commission Territories 323

SBI Growth

AUGUST 7, 2013

However, we frequently see Sales VPs still stuck in the sales manager mindset. An ill-prepared sales manager damages his region. A Sales VP focused on the wrong things can ruin the entire company. They cross collaborate with manager peers, their reps, and the VP.

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Construction Ideal Customer Profile Territories Compensation 334

The Spiff Blog

NOVEMBER 10, 2022

Sales managers can also motivate their teams based on metrics like quota attainment , commission earned, and more! With sales commission software, finance and RevOps teams can also spend less time manually compiling and distributing end of month commission statements since the data is available in real-time. About Spiff.

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Commission Scale Compensation Software 75

SBI Growth

FEBRUARY 1, 2013

You became a Sales Manager, followed by a Sales Director. Most companies are using the wrong definition of market value. As part of the yearly planning process, your boss tells HR to research compensation in the market. HR doesn't have time to do a compensation benchmark properly. What is Market Value?

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Hiring Compensation Promotion Territories 293

Understanding the Sales Force

APRIL 16, 2012

I reviewed the 2012 Sales Performance Management Report, published by the Aberdeen Group and gleened some interesting statistics. The report's goal was to show that the practices of the best in class companies were different, even better, than both the average and the below average companies and it achieved that goal.

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Hiring Territories Compensation Forecasting 188