The Spiff Blog

SEPTEMBER 7, 2023

Although SPM strategy varies by company and industry, the most effective sales performance management strategies typically involve a combination of the same core pillars. These pillars include organizational alignment, robust reporting, ongoing professional development, incentive compensation, and sales enablement.

Incentives 83

Incentives Incentive Scale Compensation 83

Xactly

JANUARY 2, 2019

From building a team to analyze metrics and company goals, the job carries a large amount of responsibility. Ultimately, the new compensation and incentive plans must successfully motivate the right sales behaviors to achieve goals, all while driving growth. Company: Nuance Communications. Who: Robert Walters.

Compensation 69

Compensation Incentives Incentive Commission 69

Sales Hacker

AUGUST 26, 2021

It started with a simple approach: Here’s your quota? Post your quota attainment ? During the initial months as a rep, you won’t be able to hit your full quota. You’re usually given guaranteed draws so that you get paid the incentive. Ramp quota should give a sense of how much you are expected to close in a quarter.

Commission 99

Commission Compensation Incentives Incentive 99

Sales Hacker

SEPTEMBER 27, 2022

He’s an expert in the sales world, particularly in revenue operations and incentive compensation. Building a compensation structure that works for both salespeople and the company. Today we’ve got Scott Barton, VP of Industry Solutions at Varicent and a veteran of sales, revenue operations, and incentive compensation.

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Compensation Incentives Incentive Quota 84

Xactly

MAY 10, 2018

Historically, sales performance incentives have been focused on individual recognition. Plans like individual sales quotas are designed to reward, recognize, and help retain high achievers, as well as motivate the average and below average performers to go above and beyond. This approach works. Pros & Cons: What the Research Says.

Incentives 49

Incentives Incentive Cost Per Thousand Compensation 49

PandaDoc

JANUARY 29, 2024

A sales team is the powerhouse behind any thriving software company. By setting achievable quotas, you can bring more positivity and motivation to your team. Achievable quotas also encourage healthy competition within the team. Now, let’s talk incentives. Incentives, or spiffs, can really boost motivation.

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Closing Proposal Incentives Incentive 52

Highspot

OCTOBER 11, 2023

Setting Sales Targets Sales managers are responsible for setting realistic and achievable sales targets based on market analysis, historical data, and company goals. Make sure they understand how their performance contributes to the overall success of the company and its bottom line. Encourage collaboration and knowledge sharing.

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Sales Management Strategy Lead Rank Lead Scoring 59

The Spiff Blog

MARCH 21, 2023

But, then, we experienced another seminal change in business software. Today, we explore the evolution of commission software. Spreadsheets are still, in my opinion, the most successful business software ever created. The second most successful business software, after Excel, is Salesforce ( source ). True, I’m biased. )

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Commission SalesForce Siebel Software 74

Xactly

NOVEMBER 15, 2018

In fact, the best way to ensure sales managers do their job well is by creating an incentive plan that drives the right behaviors. Download our "Ultimate Guide to Sales Compensation Planning" for incentive best practices and everything you need for a sales comp plan design project. Annual Target Incentive. Set the Quota.

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Compensation Examples Sales Management Incentives 87

Xactly

JUNE 27, 2018

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. Company: Allergan. Allergan is a leading pharmaceutical company headquartered in Dublin, Ireland. Who: Randall Lee.

Compensation 52

Compensation Incentives Incentive Pharmaceuticals 52

The Spiff Blog

OCTOBER 19, 2023

Considering the volatility that most companies faced throughout 2023, you’re probably pondering a lot of significant changes to the way you design, execute, and manage your sales comp programs over the course of the next year. Personalizing sales incentives is a difficult task for a number of reasons.

Compensation 83

Compensation Incentives Incentive Commission 83

No More Cold Calling

JULY 4, 2013

We are the heartbeat of our companies. We’re always looking for more business and for any opportunity to reach and surpass our quotas. Consider who you know in the following categories: Salespeople outside of your company in aligned fields. Salespeople within your company. It’s our job to bring in business. Comment Here.

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Referrals Networking Enterprise Enterprise 244

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. Informational interviews with sales leaders within their company. Having clear, visible goals and incentives builds well-rounded sales professionals.

SAP 124

SAP Oracle Compensation Territories 124

The Spiff Blog

NOVEMBER 10, 2022

If this sounds anything like your current commission tracking process, it’s time to introduce you to sales commission software , a category of software that automates even the most complex commission processes. There are many benefits to implementing sales commission software, but we’re going to focus on the four most important.

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Commission Scale Compensation Software 75

OpenSymmetry

FEBRUARY 10, 2016

In the first scenario, the eager software sales rep wants to expedite the project start and does not want to introduce any delays in their sales pipeline. They are thinking about a potential 6-12 month delay in the sales pipeline, then delayed recognition of the software sale before the project can get underway.

Incentives 40

Incentives Incentive Compensation Territories 40

Xactly

JUNE 27, 2018

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. Company: Allergan. Allergan is a leading pharmaceutical company headquartered in Dublin, Ireland. Who: Randall Lee.

Compensation 45

Compensation Incentives Incentive Pharmaceuticals 45

The Spiff Blog

MARCH 8, 2023

The clip shows her, not in her typical role as a seller, but as a buyer evaluating a piece of software. In fact, only 78% of men regularly reach quota attainment compared to 86% of women ( source ). These same companies were less likely to have employee turnover rates ( source ).

Face-to-face 76

Face-to-face Incentives Incentive Commission 76

Xactly

OCTOBER 29, 2018

With continuous sales performance analysis, companies can avoid reacting to performance issues, and rather, plan proactively to achieve sales and revenue goals. Companies need to track metrics that provide valuable information that can be used to strengthen sales planning. Sales Capacity Planning. Sales Territory Mapping and Design.

Data 85

Data Top of Funnel Territories Compensation 85

Zoominfo

JULY 1, 2018

30% of companies say their social selling training needs ‘a complete overhaul’ ( source ). Social sellers realize a 66% greater quota attainment than those using traditional prospecting techniques ( source ). As highlighted in our previous point, it’s important to hear what people are saying about your company.

Buyer 190

Buyer Social Media Social Selling Incentives 190

PandaDoc

OCTOBER 30, 2023

Games that are simple to understand, easy to operate, and connected to company goals are better-received by workers. Employee engagement increases when the incentives are worth the effort required to do well. When executed properly, contests can dramatically boost sales productivity by offering incentives for high performers.

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Sales Process Incentives Incentive Hiring 52

The Spiff Blog

DECEMBER 7, 2023

Whether you’re a sales compensation manager struggling to get commission statements in order, or a sales rep trying desperately to hit your quota, the last month of the year often ends up being the most stressful. But if your company still tracks commission manually? When Your Friends Hit Quota Chin up!

Commission 80

Commission Banking Cold Calling Scale 80

Xactly

MAY 7, 2018

The resulting incentive plan must develop a compensation process that will motivates the right sales behaviors to achieve goals, all while driving growth. Finding the right mixture of compensation requirements is not always easy, but luckily, it can be much less time-consuming with the help of automation software. Who: Padmaja Chavali.

Compensation 49

Compensation Incentives Incentive Networking 49

Hubspot Sales

NOVEMBER 10, 2020

Studies have shown that happy, motivated people work harder, stay in their jobs longer, and make their companies more successful. Additionally, be sure to equip your team with the necessary software to collaborate with each other from home, including a CRM and other sales enablement tools. Incentive-Based Sales Environment.

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B2C Incentives Incentive How To 108

Hubspot Sales

APRIL 22, 2021

Historically, compensation planning has been relegated to an Excel file, particularly for businesses without the budget for prohibitively priced enterprise software. Individuals, managers, and organizations use their software to bring transparency and ease of use to commission, earnings, and attainment tracking.

Hubspot 87

Hubspot Commission Compensation Incentives 87

Gong.io

JULY 11, 2022

Field reps for a B2B software company (a CRM platform, say), might attend trade shows, conferences, and industry events to promote their products and generate new business. Reporting on own sales performance in a CRM or dedicated inside sales software . Achieving sales quotas and targets. Setting sales quotas.

Inside Sales 62

Inside Sales Outsourcing Services Hiring Sales Qualified Lead 62

Hubspot Sales

APRIL 24, 2019

Did you know 43% of workers would be willing to leave their companies for a 10% salary increase ? Imagine if almost half of your sales team left the company because of a poorly designed compensation plan. Will additional bonuses or incentives be a part of the compensation plan? The results wouldn't be pretty.

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Commission Salary Compensation Territories 127

Xactly

JULY 5, 2018

At many companies, reps may not have control over pricing and discounting policies. For reference, here is a sample compensation plan of a Sales Manager role typically used for a Software as a Service company (learn more about the software sales commission plan, here ). Annual Target Incentive. Set the Quota.

Compensation 69

Compensation Sales Management Examples Commission 69

Hubspot Sales

JUNE 24, 2019

This was an epidemic in pre-SaaS software (and still happens, even in SaaS). It reduced the friction to implement software or move to a different vendor if one overpromised. By paying over time, software companies are incented to keep customers happy, rather than extract as much money upfront as possible.

Scale 101

Scale Churn Motivation Commission 101

Hubspot Sales

JANUARY 9, 2018

For example, HubSpot salespeople might primarily sell marketing software to CMOs and sales software to sales directors. Now that the product is far more robust and you’ve raised the price, mid-market companies are likely a better fit. For example, maybe Rep Carol’s January quota is $5,000. Sales plan targets.

Buyer Persona 145

Buyer Persona Referrals How To Commission 145

SBI Growth

JANUARY 10, 2013

Perhaps you raised quotas and incentives to get more rep productivity. A “Mid-Cap” software company’s numbers are in light blue. The company is spending 18% of revenue on sales expense and the benchmark is 20%. This time, $450M medical devices company is being measured. services company. The Problem.

Top of Funnel 282

Top of Funnel Hiring Channels Funnel 282

Xactly

SEPTEMBER 24, 2018

As the forerunner in cloud-based incentive compensation management (ICM), Xactly identified data as a key performance driver from the very start. We continue to be the only company to provide benchmarking and AI/ML driven predictive analytics based on more than 13 years of cross-industry pay and performance data.

Commission 95

Commission Lead Rank Incentives Incentive 95

The Spiff Blog

JANUARY 9, 2024

Naturally, you might be looking for ways to decrease ramp-up time and get new reps hitting their quotas as soon as possible. Identify any sources of confusion or disruption that new sales reps might experience in their early days at your company. But, rushing the ramp-up process to save time and money often has the inverse effect.

Banking 84

Banking Hiring Churn Scale 84

Velocify

JUNE 28, 2017

Did you know that high-growth companies are more likely to be familiar with the different types of sales technologies on the market? Sales gamification software leverages game mechanics to incentivize rep performance. 2) Buyer/Company Intelligence. 4) Territory and Quota Management Solutions. 1) Sales Gamification.

Sales Technology 53

Sales Technology Top of Funnel Hiring Software 53

Hubspot Sales

JULY 22, 2020

With the CRM and Sales combo, you can track contacts, deals, companies, and tasks; schedule meetings easily; learn more about your prospects; and monitor your team's progress with intuitive reporting. TimeTrade Sales Scheduling Software. Pricing: $15/year. Pricing: Starts at $6.50/user/month. user/month. Demand Solutions.

Tools 115

Tools Closing Territories Hubspot 115

LeadBoxer

JANUARY 10, 2021

By retaining existing customers and increasing the amount of revenue they provide, companies can boost their profits for less cost and effort than finding new customers. This allows the company to increase its earnings without necessarily needing to acquire new business. Not every new customer is a win for the company.

Account 97

Account Lead Rank Lead Scoring Commission 97

Xactly

SEPTEMBER 5, 2018

We go through great pains ensuring we hire top talent candidates that should be a “good fit” with company culture, and we fight like mad to help improve morale when sales team’s work or attitudes go south—but all too frequently, there is no in-between. Software Sales. Setting Goals That Drive Sales Engagement.

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Examples Compensation Incentives Incentive 78

SBI Growth

SEPTEMBER 23, 2013

Territory design, quotas and compensation plans. Steve is a VP of The Americas of a large enterprise software company. Change the compensation plan to incent new logo growth by adding an accelerator. These are the common tweaks companies deploy. Talent Management and gamification sit in this area. An Example.

Compensation 325

Compensation Social Media Incentives Incentive 325