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.”.

Incentives 78

Incentives Incentive Compensation Webinar Metrics 78

Xactly

OCTOBER 10, 2018

If your fiscal year ends in December, you should have already started thinking about the next round of plan updates, plan tweaking, or a wholesale rebuild of the entire system. Are you an Xactly Insights customer using empirical data to benchmark your incentive compensation? Watch Webinar.

Compensation 79

Compensation Incentives Incentive Webinar Metrics 79

SBI Growth

FEBRUARY 5, 2014

A strong leading indicator for a successful year is the impact of the reward system. 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. Or have they?

Compensation 288

Compensation Territories Hiring Commission 288

Partners in Excellence

APRIL 25, 2017

I always worry when a conversation with a sales executive starts with, “We need to fix our compensation problem.” ” The ensuing discussion usually focuses on, “We aren’t meeting our numbers, we need to fix the compensation/commission system in order to make our numbers.”

Compensation 52

Compensation Lead Rank System Commission 52

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

OpenSymmetry

JANUARY 27, 2016

A critical element that is relatively new is territory optimization and we will examine the case for this in this article. The territory optimization and alignment element of salesforce effectiveness is vital for three reasons. Poor or excessive customer coverage if territories are too small, leading to missed revenue.

Territories 40

Territories SalesForce Incentives Incentive 40

OpenSymmetry

JULY 20, 2016

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. In some cases, incentive compensation (IC) methods have evolved to align with new regulations regarding specific sales metrics.

Pharmaceuticals 40

Pharmaceuticals Compensation Incentives Incentive 40

OpenSymmetry

JULY 20, 2016

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. In some cases, incentive compensation (IC) methods have evolved to align with new regulations regarding specific sales metrics.

Pharmaceuticals 40

Pharmaceuticals Compensation Incentives Incentive 40

SBI Growth

SEPTEMBER 11, 2012

Putting the systems in place to collect the data you need is not easy. Recently I was with a client who believes they have a sales compensation problem. There was no Sales Territory Design in place. The analysis of the Territory Design data in our example yielded results, but we needed a reference point.

Territories 306

Territories Top of Funnel Analysis Penetration 306

SBI Growth

FEBRUARY 5, 2014

A strong leading indicator for a successful year is the impact of the reward system. 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. Or have they?

Compensation 120

Compensation Territories Hiring Commission 120

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.

Compensation 40

Compensation Cost Per Thousand Territories Forecasting 40

Sales and Marketing Management

JULY 26, 2018

Bringing additional data sources to the system helps ensure that you do not simply make your existing “worst” practices more efficient. The first step toward sales AI success will be taken not by salespeople, but rather by sales ops and the IT pros determining the right data to train the system. This is unexplored territory?—?and

Training 206

Training Penetration Government CRM 206

Partners in Excellence

AUGUST 11, 2020

It turned out, the structure and the territory assignments of the sales people in these organizations, was a problem. Each sales person, had about 1000 customers in their territories. They were so busy addressing the opportunities in their territory, they were “missing” the big deals.

Ideal Customer Profile 91

Ideal Customer Profile Territories Compensation Account 91

SBI Growth

SEPTEMBER 11, 2012

Putting the systems in place to collect the data you need is not easy. Recently I was with a client who believes they have a sales compensation problem. There was no Sales Territory Design in place. The analysis of the Territory Design data in our example yielded results, but we needed a reference point.

Territories 264

Territories Top of Funnel Analysis Penetration 264

OpenSymmetry

DECEMBER 4, 2015

On November 19 th , 30 organisations gathered in London at the e-reward conference to discuss the benefits of compensation management software. The need to automate territory and quota management will be driven by the dependency of the incentive plan on more complex quota setting and territory alignment challenges. What is SPM?

Compensation 40

Compensation Incentives Incentive Vendor 40

The Spiff Blog

FEBRUARY 9, 2023

These functions include territory management, goal setting, capacity modeling, forecasting, sales performance improvement, seller experience, and countless other exercises that set a business up for success– or failure. In fact, optimizing territory design can increase sales by 2 to 7% each year ( source ).

Quota 70

Quota Revenue Lead Rank Territories 70

Xactly

JULY 19, 2018

Commissions play a key role in your sales compensation plans, driving sales behaviors and motivating reps to hit their quota. It is generally used to get sales reps through times of sales uncertainty, where they may experience decreased cash flow due to inexperience within a particular territory or product as they ramp up.

Commission 83

Commission Hiring Incentives Incentive 83

OpenSymmetry

FEBRUARY 10, 2016

The improved analytical capabilities provided by Incentive Compensation Management (ICM) software will help in the modelling and review of existing plans. As often as companies and sales leaders state that their sales compensation plans are simple, there is rarely a plan that is truly that simple ; there is always some layer of complexity.

Incentives 40

Incentives Incentive Compensation Territories 40

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. They should cover things like account ownership, territories, SLA’s, and who gets credit for opportunities.

Groups 67

Groups Conversion Commission Lead Rank 67

The Spiff Blog

NOVEMBER 10, 2022

Think about it this way: If you’re using a spreadsheet to manage commission, every time you restructure your sales team, make territory changes, or revamp how commission is calculated, you have to start from scratch. Manual commission management also limits an organization’s scalability and growth. About Spiff. See Spiff in action!

Commission 75

Commission Scale Compensation Software 75

The Spiff Blog

OCTOBER 6, 2022

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? Different strategies in compensation can help in each of these scenarios and more. . Prioritize a positive sales culture.

Commission 75

Commission Compensation Churn Incentives 75

Zoominfo

OCTOBER 6, 2020

From an internal system perspective, there are varying levels of titles depending on tenure. For instance, they may be selected to support a specific territory with higher potential. They’ve done what they needed to do to be successful as a team lead, so they would earn a Sales Manager title, along with a compensation bump.

Lead Rank 169

Lead Rank Lead Scoring Leads Marketing Qualified Lead 169

Sales Hacker

MARCH 12, 2020

Essentially, achieving your goals is only possible with a full roster of sales reps who know their territories and are ramped to full productivity. Examine what factors are causing open territories in the first place. Is the territory just not capable of achieving that quota? Is compensation too low?

Hiring 76

Hiring Compensation Territories Sales Talent 76

Xactly

MAY 31, 2018

Sales compensation is vital to sales success and company growth. For decades, companies have gathered different tools to manage compensation. Previously, sales performance management (SPM) has typically been categorized as solely focused on incentive compensation management (ICM) and sales compensation planning.

Enterprise 50

Enterprise Enterprise Scale Compensation 50

Zoominfo

OCTOBER 6, 2020

From an internal system perspective, there are varying levels of titles depending on tenure. For instance, they may be selected to support a specific territory with higher potential. They’ve done what they needed to do to be successful as a team lead, so they would earn a sales manager title, along with a compensation bump.

Lead Rank 130

Lead Rank Lead Scoring Leads Marketing Qualified Lead 130

SBI Growth

AUGUST 7, 2013

He builds tools and systems to ensure his managers execute these projects. He’s looking at compensation analysis, territory design, and sales structure. The successful VP of Sales spends about 25%-40% of his time out in the field. However, he can’t spend time with every customer. Instead, he’s working on current projects.

Construction 334

Construction Ideal Customer Profile Territories Compensation 334

Mindtickle

DECEMBER 7, 2023

You have content management systems, you have conversation and revenue intelligence tools, you have sales engagement tools for SDRs, and you have sales forecasting. And then you also have pricing territory compensation management, the list simply goes on. But then you also have sales, onboarding, and training.

Revenue 52

Revenue Hiring Analytics Vendor 52

InsightSquared

JANUARY 8, 2018

I could see leads that were over 15 days old, so I drilled down into them and could see that they were being routed to the wrong rep, in the wrong territory, selling the wrong product. I can then work with marketing to create a targeted campaign for the rep’s product line or in their territory. We host lunch and learns, training etc.

Opportunity 54

Opportunity Closing System Lead Rank 54

Xactly

AUGUST 20, 2018

To obtain and manage this data properly, sales organizations need automated sales performance management (SPM) solutions to help facilitate their planning strategically, from territories and quota allocation, to compensation planning and management. Design Fair, Balanced Territories. Take Sales Planning from Reactive to Active.

Data 45

Data Territories Compensation Incentives 45

Sales Hacker

DECEMBER 21, 2017

But perhaps more than anything else, sales operations brings a system to selling. Sales Territory Assignment and Growth Forecasting. Implementation of Recommended Compensation and Incentives Program. Allocation of Accounts and Sales Territories. Allocation of Accounts and Sales Territories. Manage compensation. .

Sales Operations 87

Sales Operations Top of Funnel Hiring Scale 87

Xactly

DECEMBER 3, 2018

With a fully automated system, they can make adjustments faster. Balancing Territories to Ensure Fair Quota Allocation. In addition to evaluating past performance, effective quota planning depends upon appropriate territory design. It’s difficult to set achievable quotas if you’re relying on imbalanced territories.

Quota 77

Quota Territories Incentives Incentive 77

InsightSquared

MARCH 6, 2018

It will also ensure you have a solid foundation for growth, reducing the need to fix broken systems and bad habits later on. This person will administer the system and maintain the database. Not only that, but you’ve also invested tens of thousands of dollars in the tool, so hire someone who knows the system.

Sales Operations 119

Sales Operations Hiring Scale How To 119

Score More Sales

DECEMBER 29, 2014

Finally there are companies in the CRM system who: Have been acquired and now have another name. If you can reward your reps for clean, updated territory lists, that can go a long way. Contact person got promoted. Contact person has a completely different role. Have divided and now have more than one company name.

Data 193

Data Policies Ideal Customer Profile Guidelines 193

Score More Sales

NOVEMBER 26, 2014

Imagine a time when you can work totally on the go with your mobile device – phone or tablet – to create business, follow-up with customers, train your team, assess your pipeline, and work a smooth system. Lori Richardson is recognized on Forbes as one of the “Top 30 Social Sales Influencers” worldwide.

Workbooks 232

Workbooks Analytics Territories Ideal Customer Profile 232

Sales Hacker

APRIL 11, 2019

This sales rep talks about money, commissions, bonuses, comp plans, incentives, and their numbers start to drop when they feel like something may affect their compensation negatively. When interviewing extrinsics, they may ask about compensation early and negotiate heavily to ensure the compensation matches their expensive lifestyle.

Motivation 85

Motivation Compensation Lead Rank Lead Scoring 85

Highspot

APRIL 2, 2020

This includes everything from implementing key sales technology to administering compensation. Sellers receive the full support of their managers while the sales ops team generates data-driven insights, forecasts strategy plans, and makes sure that all of the necessary systems are in place. Growth forecasts of sales territories.

Sales Operations 75

Sales Operations Top of Funnel Forecasting Sales Enablement 75

InsightSquared

MAY 7, 2019

Getting the systems right to accurately track and evaluate sales cycles is an important management function. Are certain types of customers, or certain geographies and sales territories meeting or beating the benchmark, or underperforming? The Key Metric: Average Sales Cycle. Defining the Start of the Sales Cycle.

Sales Cycle 102

Sales Cycle Lead Rank Hiring Sales Qualified Lead 102