Xactly

AUGUST 8, 2018

Successfully motivating and optimizing sales performance can be a challenging task for any business. Sales and Finance leaders typically deal with limited insights, convoluted systems, and employee demands wherever compensation is concerned. In a recent webinar with CFO Alliance, we reviewed the findings of the study.

Incentives 55

Incentives Incentive Compensation Webinar Metrics 55

Xactly

OCTOBER 18, 2018

Compensation and incentive pay plays a big role in the success of a sales organization. Incentives drive sales behaviors, but when reps get paid incorrectly, it can lead to some big problems, specifically rep turnover.

Incentives 58

Incentives Incentive Study Compensation 58

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.

Strategy 223

Strategy Compensation Incentives Incentive 223

Xactly

OCTOBER 15, 2018

Keeping sales reps motivated is a year-round process. As a sales leader, you should always be thinking of new ways to motivate your sales team, focus on closing deals, and keep reps’ eyes on the prize…literally and figuratively. Sales incentives are a great way to motivate your team and keep morale high.

Incentives 84

Incentives Incentive Motivation Compensation 84

SBI Growth

OCTOBER 5, 2012

This post is for Small Company CSOs and VPs of Sales. Despite this luxury, the small company sales compensation plan is usually left on the backburner. To drive the right behavior and hit your targets, your sales compensation must evolve at the same pace as your company. This is a crucial mistake.

Compensation 257

Compensation Company Hiring Salary 257

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.

Incentives 83

Incentives Incentive Scale Compensation 83

The Spiff Blog

JANUARY 12, 2022

Compensation strategy is a core factor that plays a role in any business’s ability to be successful. Often, when “bigger” issues arise, we tuck our compensation strategy away in the back of our minds and promise to revisit the topic when we have the time. You know, the pyramid we all studied in Psych 101?

Compensation 52

Compensation Strategy Salary Commission 52

LeadFuze

MAY 17, 2021

Why are Sales Compensation Plans Important. A company is nothing if it doesn’t have sales. There are plenty of ways to automate and utilize inbound methods, but having salespeople who take control of the deal and close new sales was the next level. Building sales compensation plans for them can be a difficult task.

Compensation 52

Compensation Hiring Incentives Incentive 52

Xactly

JULY 26, 2018

Figuring out sales compensation is not for the faint of heart. Outdated processes and unreliable data can roadblock any company’s sales potential. WorldatWork recently partnered with Xactly to share three best practices for sales compensation. Communicating transparently throughout the entire sales process.

Compensation 57

Compensation Webinar Metrics Incentives Incentive 57

Alice Heiman

OCTOBER 6, 2021

On this episode of the Sales Talk for CEOs Podcast, Alice speaks with Chris Cabrera, CEO of Xactly , which provides automated compensation for large sales teams. Chris’ life revolved around sales prior to becoming a CEO and it prepared him for starting his own company. . 7:00] Sales journey to CEO. [11:55]

Journal 133

Journal Compensation Incentives Incentive 133

OpenSymmetry

JUNE 9, 2016

The Journey to Sales Incentive Optimization. The recent e-Reward conference in London (May 12 2016) had a number of important messages for the Compensation and Benefits community. Compensation and benefits professionals are under pressure to provide guidance to achieve great plan design. Sales Incentive Design.

Incentives 40

Incentives Incentive Compensation SalesForce 40

OpenSymmetry

JULY 27, 2015

Fred Sass, Worldwide Marketing Executive for the Sales Performance Management (SPM) division IBM and Laura Roach, Senior VP of Marketing and Customer Success, OpenSymmetry invited Erin Harris, Executive Editor of Integrated Solutions for Retailers to join them in sharing their expertise in securing market share through Incentive Compensation.

Retail 40

Retail Incentives Incentive Compensation 40

SBI Growth

FEBRUARY 5, 2014

The first monthly commission statements will soon be in your sales reps'' hands. This post is for Sales leaders and HR business partners. Are the compensation mechanisms driving the right behaviors?" To make your assessment easy, SBI has created a 10-point Compensation Inspection tool. How Important is Compensation?

Compensation 288

Compensation Territories Hiring Commission 288

Xactly

MAY 24, 2018

Sales compensation is one of the most costly investments enterprises make every year. From our years in the compensation space, we’ve found that 45% of compensation plans actually drive the wrong sales behaviors. In other words, 45% of the time, compensation plans are leading to missed selling opportunities.

Compensation 51

Compensation Enterprise Enterprise Webinar Metrics 51

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.

Sales Management 59

Sales Management Strategy Lead Rank Lead Scoring 59

OpenSymmetry

JULY 20, 2016

Sales in the pharmaceutical industry has been a rigid and consistent business. Tactics may have changed, but for the most part these sales teams still run on a commission or quota based metric determined by well-planned territories.

Pharmaceuticals 40

Pharmaceuticals Compensation Incentives Incentive 40

OpenSymmetry

JULY 20, 2016

Sales in the pharmaceutical industry has been a rigid and consistent business. Tactics may have changed, but for the most part these sales teams still run on a commission or quota based metric determined by well-planned territories.

Pharmaceuticals 40

Pharmaceuticals Compensation Incentives Incentive 40

No More Cold Calling

MARCH 7, 2013

Should you offer incentives to Referral Sources? Just don’t make compensation the reason they refer you. For a 2010 report from the Wharton School of Business, researchers Christophe Van den Bulte, Bernd Skiera, and Philipp Schmitt studied data that an anonymous German bank gathered on nearly 10,000 of its customers over 33 months.

Referrals 245

Referrals Incentives Incentive Banking 245

The Spiff Blog

JULY 20, 2023

Most organizations recognize that their sales commission process isn’t perfect. Managing compensation is a complex undertaking, one in which the smallest error can create a domino effect of administrative labor and protracted troubleshooting. Potential: You continuously optimize sales compensation plans.

Commission 80

Commission Compensation Scale Report 80

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. Or, keep reading for more sales plan ideas.

Compensation 64

Compensation Motivation Commission How To 64

Anthony Cole Training

OCTOBER 13, 2014

I was first introduced to goal setting in sales when I was an insurance agent with National Life of Vermont. I never did write 100 lives but, based on the sales activity reporting I did every week, I should have. Towards the end of my career, I contracted with a sales trainer, Tom. You do the math. You do the math.

Sales Management 204

Sales Management SME Incentives Incentive 204

OpenSymmetry

OCTOBER 24, 2016

Much like the elusive yeti, the identification of Return On Investment (ROI) for a sales incentive plan is believed to exist by enthusiasts from the sales compensation design team, but met with much skepticism by others, namely the Finance department. So how do you measure the mysterious ROI of a sales incentive plan?

Incentives 40

Incentives Incentive ROI Compensation 40

Hubspot Sales

APRIL 11, 2023

Your sales team plays an essential role in driving revenue and reaching goals that stretch across the organization. So should you be worried about churn in your sales department? Sales teams have higher-than-average turnover rates than other business units. Why do sales teams experience high turnover? In short, yes.

Churn 114

Churn Hiring Survey Hubspot 114

LeadFuze

JULY 7, 2023

Knowing how to set sales goals is a crucial skill for any business owner, sales manager or marketer. But setting effective sales goals involves more than just choosing an arbitrary number. So if you’re ready to increase your company’s annual revenue target by setting effective sales goals – keep reading!

Sales Goal 52

Sales Goal Churn Incentives Incentive 52

Sales and Marketing Management

JUNE 28, 2017

Author: Galina Sheveleva The ‘ABC: Always be Closing’ mantra has been drilled into the minds of sales teams. However, a lot has changed in the business world since 1992, and a different kind of sales strategy has emerged – one that can help you close more deals AND benefit your organization as a whole: ABC.Always Be Collaborating.

Hiring 180

Hiring Incentives Incentive Compensation 180

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 ).

Handbook 99

Handbook Territories Compensation Incentives 99

The Spiff Blog

JANUARY 9, 2024

What does this mean for sales teams? If you’re responsible for reaching demanding sales targets, you must be more dynamic and strategic in 2024. But, if cost-efficiency is a top priority, then extensive sales hiring is an expensive last resort– not a dependable solution. B2B sales has an average turnover rate of 35% ( source ).

Banking 84

Banking Hiring Churn Scale 84

Zoominfo

MARCH 21, 2022

The study showed a broad range of attrition within specific companies in various industries. Faced with increasingly stressful work environments, many workers are leaving lower-paying roles to pursue jobs with better compensation. Data via MIT Sloan Of course, not all companies are the same. and 4.5 %, respectively.

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Quota Hiring Face-to-face Advertising 100

The Spiff Blog

JUNE 16, 2022

The psychology behind compensation plan design usually focuses on behaviors to encourage or discourage. But we often fail to bring psychology into how we’re actually sharing this information with our sales teams. Why data visualization matters in sales. Why traditional compensation processes are failing you. Absolutely.

Data 80

Data Commission Compensation Incentives 80

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. Do your sales staff understand the comp plan?

Compensation 46

Compensation Hiring Commission Churn 46

SBI Growth

JUNE 29, 2013

Sales leaders will not Make the Number if they fail to rapidly onboard new talent. The sales environment is uniquely suited to take advantage of an innovation called “ gamification.” This post is for HR and Sales leaders who ask, "How can we accelerate the productivity of our new hires?". The Game: A Great Match for Sales?

Hiring 326

Hiring Case Study Lead Rank Lead Scoring 326

Hubspot Sales

MAY 18, 2018

Sales Goals. Monthly sales goals. A Harvard University study found setting specific goals increases motivation beyond simply telling yourself, “ I’ll just do my best. ”. The study ultimately reported students who stuck to a goal-oriented plan performed 30% better than those who didn’t. How to Set Sales Goals.

Sales Goal 145

Sales Goal Incentives Incentive Quota 145

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.

Top of Funnel 136

Top of Funnel Hiring Commission SAP 136

Xactly

SEPTEMBER 5, 2018

Management by Objectives, aka MBOs, are goals set for employees to improve overall sales performance, as agreed up on by sales manager and rep. 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.

Examples 78

Examples Compensation Incentives Incentive 78

Sales and Marketing Management

JUNE 28, 2017

The ‘ABC: Always be Closing’ mantra has been drilled into the minds of sales teams. However, a lot has changed in the business world since 1992, and a different kind of sales strategy has emerged – one that can help you close more deals AND benefit your organization as a whole: ABC.Always Be Collaborating. The Buying Evolution .

Closing 120

Closing Hiring Incentives Incentive 120

SBI Growth

FEBRUARY 5, 2014

The first monthly commission statements will soon be in your sales reps'' hands. This post is for Sales leaders and HR business partners. Are the compensation mechanisms driving the right behaviors?" To make your assessment easy, SBI has created a 10-point Compensation Inspection tool. How Important is Compensation?

Compensation 120

Compensation Territories Hiring Commission 120

Appbuddy

FEBRUARY 8, 2022

The sales team is a vital part of any company. Let’s dive into how you can attract, coach, and retain top sales talent. Let’s dive into how you can attract, coach, and retain top sales talent. Finding the right sales talent has always been a challenge. Attract top sales talent. Promote a pro-sales culture.

Sales Talent 52

Sales Talent Coaching Hiring Compensation 52