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 came away with six key considerations to keep in mind while preparing your compensation plans and processes for 2023. Don’t neglect retention after an upswing. Retention is important in good times and bad times.

Groups 67

Groups Conversion Commission Lead Rank 67

SBI Growth

FEBRUARY 5, 2014

Are the compensation mechanisms driving the right behaviors?" To make your assessment easy, SBI has created a 10-point Compensation Inspection tool. Read on to understand the mechanics of effective sales compensation. How Important is Compensation? Too many companies treat sales compensation as a once-a-year review.

Compensation 120

Compensation Territories Hiring Commission 120

Xactly

JANUARY 3, 2019

Industry and planning-specific statistics also help guide sales planning and incentive compensation. Companies that set cookie-cutter quotas across similar roles see 14% lower quota attainment than those that assign quotas based on territory-specific opportunities ( Complete Sales Planning Handbook. ). Putting Sales Statistics to Work.

Handbook 99

Handbook Territories Compensation Incentives 99

SBI Growth

NOVEMBER 5, 2013

If you’re caught totally unprepared, the territories are vacant for months. Sign up for our 2013 Tour and receive the Talent Retention Checklist to start planning for your new year. Replant these seedlings in a ripe territory when necessary. Proactively Address Issues: Most managers fail to proactively address retention issues.

How To 296

How To Territories Hiring Quota 296

Xactly

AUGUST 8, 2018

Sales and Finance leaders typically deal with limited insights, convoluted systems, and employee demands wherever compensation is concerned. welcomed Erik Charles, VP of Strategic Marketing at Xactly, and Nandini Ramaswamy, VP of Global Sales Compensation Design and Operations at Salesforce, to the panel. Incentive Compensation.

Incentives 55

Incentives Incentive Compensation Webinar Metrics 55

The Spiff Blog

OCTOBER 6, 2022

Perhaps you’re an 8-year-old business focusing on retention– or maybe you’re finally in a phase of sustainable growth. But remember that while the execs are driven by revenue and low customer churn, your sales reps are driven by their incentive compensation plans. What are you trying to achieve with this compensation plan?

Commission 75

Commission Compensation Churn Incentives 75

Crunchbase

NOVEMBER 18, 2021

Retention in the sales department is exceedingly low; average salesperson retention is just 18 months 1. To assemble this type of virtual sales force you will need to recruit, find, contract, train, incentivize and compensate them appropriately. To sell is human.

Trends 105

Trends Hiring Scale Compensation 105

Mereo

NOVEMBER 15, 2023

Is your account management focused on ensuring client satisfaction and client retention? Do they align to a market program or a selling territory? Is a business development representative an apprentice salesperson and compensated as such, or are they simply appointment setters? What are your client retention rates?

Lead Rank 41

Lead Rank Marketing Commission Retention 41

SBI Growth

SEPTEMBER 23, 2013

Territory design, quotas and compensation plans. Change the compensation plan to incent new logo growth by adding an accelerator. Increase base pay by 7-9% across the board to help with retention. Compensation plans come last not first. Too many, you erode profitability. Sales training. Steve’s plan was flawed.

Compensation 325

Compensation Social Media Incentives Incentive 325

Hubspot Sales

OCTOBER 2, 2019

Employee retention in the sales field continues to be an issue. Sales performance management tracking can provide valuable data enabling your organization to forecast future sales trends and employee compensation rates — particularly for commission-based compensation structures. Performance-based compensation.

SAP 119

SAP Oracle Compensation Territories 119

Xactly

OCTOBER 22, 2018

He may have a tough territory to work in, or he could be a poor hire. Watch the webinar, "Put the Darts Away: The Importance of Benchmarking Data in Sales Planning," to discover the importance of current benchmarking data for effective compensation plan design. Scenario #3: Timothy is in year two and struggling. Watch Webinar.

Hiring 93

Hiring Compensation Webinar Metrics Territories 93

Xactly

DECEMBER 10, 2018

Compensation drives sales behavior, which means your sales incentive plan is a critical factor in sales performance and objective achievement. The incentive compensation planning team faces the challenge of balancing executive priorities and designing incentives that motivate reps. Set the Foundation. Gather your previous and YTD data.

Incentives 79

Incentives Incentive Competition Compensation 79

Xactly

OCTOBER 1, 2018

Are we assigning effective territories? Download "The Impact of Tenure on the Retention of Top Performers," to see the results extracted from the Xactly Insights application, a powerful solution which leverages 13+ years of proprietary, pay and performance data to drive intelligence. Is our pay in line with performance?

Analysis 90

Analysis Data Incentives Incentive 90

InsightSquared

MAY 7, 2019

Customer churn or retention rates. Are certain types of customers, or certain geographies and sales territories meeting or beating the benchmark, or underperforming? The average sales cycle can be extended because the data includes new hires and new territories as well as established sales resources.

Sales Cycle 102

Sales Cycle Lead Rank Hiring Sales Qualified Lead 102

Growbots

SEPTEMBER 19, 2018

When salespeople do leave a company, the top five reasons are : Salary and compensation. Building a retention strategy that hits some of these key pain points can help ensure that you are retaining your best salesperson. Avoid changing your compensation structure. Career growth opportunities. Company culture. Senior leadership.

Compensation 55

Compensation Salary Incentives Incentive 55

Partners in Excellence

JUNE 5, 2019

We have to attract and engage prospects/customers, we have to help them buy, we have to support them and assure they create value, we have to grow our share of customer and territory. Commissions: As part of his delighted customers discussion, Brian talks about discovering the need to change how sales people are measured and compensated.

Top of Funnel 91

Top of Funnel Funnel Lead Rank Commission 91

Hubspot Sales

AUGUST 25, 2018

A quick Google search or skim through your favorite sales blogs will show article upon article about how to hire the perfect reps, increase customer retention, and write the perfect sales job description -- for good reason. What Can Sales Managers Do About Sales Retention? Sales stereotypes are alive and well.

Hiring 111

Hiring Churn Survey Promotion 111

Fill the Funnel

NOVEMBER 4, 2014

A few key questions that sales leaders need to be considering include: Is the sales compensation plan providing the results expected? How is your customer retention doing? From across North America they will share their expertise on topics like Sales Hiring Best Practices, Onboarding, Territory Planning, Time Management and more.

Sales Management 118

Sales Management Hiring Top of Funnel Lead Rank 118

Sales Hacker

MAY 26, 2021

The focus is on things like reporting, territory management and later stage tasks such as contract negotiations and finance approvals. Here, you can use your sales operations skills to get into your reps’ heads by creating compensation and incentive plans. Sales ops takes a high-level view of the sales organization.

Sales Operations 60

Sales Operations Top of Funnel Lead Rank Hiring 60

Xactly

APRIL 11, 2018

Revenue growth, gross margins, and sales costs as a percent of customer retention should be looked at in relation to the sales plan’s effectiveness. For compensation, this might mean more than a sales VP. Download our guide, "Designing Sales Compensation Plans," to learn how to structure your plans. Quota setting.

Compensation 54

Compensation Webinar Metrics Decision Maker Motivation 54

SalesLoft

JULY 18, 2016

SDRs, being the truly data-driven individuals that they are, have compensation goals tied to critical metrics drive leads through the funnel by way of demos, appointments, intro calls and sales accepted leads generated, which essentially makes sales operations data the glue that holds sales teams together. . It’s all in the data.

Sales Operations 52

Sales Operations CRM Data Top of Funnel 52

The Brooks Group

JULY 18, 2017

How has your compensation been structured in the past at your most recent employer? In an ideal world, how would your compensation be structured? How have you achieved year-over-year growth in your accounts and in your territory with new business development? How would you start working a territory from scratch?

Hiring 49

Hiring Face-to-face Commission Territories 49

Hubspot Sales

MARCH 21, 2019

And sales leaders use these metrics to track progress toward goals, make decisions and plans, adjust compensation, award bonuses and incentives, and identify issues before they become large problems. compare sales from two different territories) : Bar chart, column chart, line graph, pie graph, scatter plot. Comparing values (e.g.,

Examples 105

Examples Hiring Report Hubspot 105

Partners in Excellence

NOVEMBER 2, 2016

More specifically, look at how/who you recruit, how/who you hire, your onboarding process, your ongoing coaching/development, your retention strategies. So we have huge opportunity costs: Open territories, while recruiting. Bad performers aren’t maximizing their share of customer or territory.

Hiring 48

Hiring Territories Maximizer Revenue 48

Partners in Excellence

JANUARY 17, 2014

While I might be exaggerating a little, we start to see elements of commission and incentive plans including: keeping CRM updated, doing certain territory marketing activities, collaboration within the sales and account team, numbers of prospecting calls, providing management reporting. and the lists go on and on.

Incentives 90

Incentives Incentive Commission Maximizer 90

OutboundView

AUGUST 16, 2019

First, most inside sales jobs are typically advertised as entry-level jobs and thus don’t have a high compensation attached to them. Inside Sales Compensation. Having an inside sales team increases the retention for your outside sales team. You can generally find them traveling around their territory to meet prospects.

Outside Sales 31

Outside Sales Inside Sales Salary Hiring 31

LeadFuze

DECEMBER 31, 2021

There is also a four-way division which can be grouped by: Geography/ territory. Geography & Territory Structure. Reps were hired, trained and compensated to perform as an individual to hit a quota. CSM: Customer Success Manager Manages customer retention and satisfaction. Product/service line. Customer/account size.

Hiring 52

Hiring Lead Rank Scale How To 52

Don on Selling

OCTOBER 26, 2018

You will also find information about how to write the best job description for a sales position and how to boost customer retention. Sales representatives indicated these things are more important than job flexibility, commission, compensation, and job role. Why is it easy to see all this stuff?

Hiring 58

Hiring Survey Promotion Study 58

Hubspot Sales

OCTOBER 20, 2021

Overpopulating Territories. That means more room for error — particularly when it comes to misallocating staff or accidentally overpopulating your existing territories. Well, you start by looking at three key factors: A territory's potential, its existing accounts, and your reps' broader workload. Hiring Out of Desperation.

Scale 123

Scale Hiring Compensation Territories 123

Sales and Marketing Management

SEPTEMBER 14, 2020

It was a common practice pre-pandemic to measure each business area with different KPIs, metrics and compensation models designed to optimize each area of operation. Companies are expected to create stronger customer relationships and accelerate customer success, loyalty and retention – today and far beyond the pandemic. .

SAP 207

SAP Compensation Face-to-face Analytics 207

Sales and Marketing Management

JANUARY 27, 2019

They must know how to motivate people and hold them accountable, how to coach and develop sales reps, how to structure territories and match them to a rep’s skill sets, and how to leverage data and use it to drive performance. Create incentives that drive the right behaviors.

Sales Management 166

Sales Management Hiring Compensation Incentives 166

Chorus.ai

MARCH 5, 2021

By the end of a successful persona build, you should have a very clear picture of your ideal customer(s): their ages, lifestyle attributes, territories, and pain points. Whether times are stable or chaotic, retention is a proven strategy for keeping your company in a secure place.

Top of Funnel 113

Top of Funnel Webinar Metrics Strategy Buyer Persona 113

The Spiff Blog

JULY 14, 2022

Nearly half of full-time workers in the United States report their employers discourage or ban discussing compensation ( source )— in spite of formal pay secrecy policies being illegal in the private sector for almost a century. Wages used to be kept quiet to promote teamwork and diffuse tensions over minor differences in compensation.

Salary 73

Salary Compensation Hiring Commission 73

SBI Growth

JANUARY 18, 2013

Traditional HR leaders would see this as a motivation, compensation or retention problem. Competency profiling and retention strategies won’t align today’s sales team with the customer. Changes to compensation and territories are under way to fix today's issues. They are not 100% focused on accelerating business.

Retention 292

Retention Compensation Ideal Customer Profile Channels 292

Sales Hacker

MARCH 10, 2021

Instead, it may be time for you to re-examine your compensation plan and understand how to implement stretch targets that push your reps beyond their usual capabilities. The starting point for any company’s compensation and quota plan should begin with a process through which the total quota budget is calculated.

Quota 94

Quota Territories Churn Scale 94

Crunchbase

JULY 27, 2022

Parsing out territories. The assignment of territories to individual sales representatives is a significant function often relegated to the sales ops managers. One reason territory assignment usually ends up in the sales ops wheelhouse is its close relationship to the sales team’s performance evaluations and incentive programs.

Sales Operations 52

Sales Operations Company Territories Sales Qualified Lead 52

Bigtincan

SEPTEMBER 8, 2021

An executive sponsor must be someone sitting at the executive table with the CEO or someone who runs an entire division that oversees revenue generation, revenue retention, and/or risk mitigation. The sales enablement team must report metrics aligned to specific business outcomes — and a portion of their compensation must be tied to these.

Sales Enablement 111

Sales Enablement Strategy Enterprise Enterprise 111