Incentive Program FAQs

Sales and Marketing Management

Q: Why not use quota as a bar to require reps to pass before they’re eligible to earn in the incentive program? Stack ranking is not the tool to accomplish weed out the poor performers – what you need to do is manage.

5 Tips for Designing Successful Sales Incentive Compensation Plans

Xactly

Few leading indicators are more predictive of a company’s future sales performance than its incentive compensation plans. While multiple factors influence the effectiveness of your sales incentive compensation plans, 5 tips stand out: 1. Incentive Compensation Sales Planning

Optimize Incentive Compensation With Integrated Sales Performance Data

Xactly

Incentive Compensation Management (ICM) solutions help companies manage their sales compensation plans and calculate commission payments. With tens of millions of dollars invested in their data warehouses and critical business applications (i.e.

X Factor Compensation Leaders: How to Be Incredible at Incentive Planning (Nuance Communications)

Xactly

Ultimately, the new compensation and incentive plans must successfully motivate the right sales behaviors to achieve goals, all while driving growth. Nuance had just implemented Xactly Incent a year or so prior to my joining but was in over their heads after some key Admins left the company.

Does Your Sales Incentive Plan Drive Customers Away?

Sales Benchmark Index

The purpose of every incentive compensation plan is to influence the actions of sales reps. The post offers tools to make longer-lasting corrections, too. Sales incentives can be like square pegs. Incentive compensation is intended to reward specific behaviors of the sales force. Here are some real-life examples of poorly designed incentives. If asked, the customer would not pay for any of these activities: Margin Incentive. Product Launch Incentive.

X-Factor Compensation Leaders: How to Be Incredible at Incentive Planning (CoreSite)

Xactly

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. million square feet of data center space.”. Customer Stories Incentive Compensation

Are You Using Your Sales Performance Data Effectively?

Xactly

In this digital age, we’re constantly hearing about the power of data. It is one of the most powerful tools in the business world. However, like any tool, the value of data analytics depend on how you use it. Drive Strategy with Sales Performance Data.

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“Incentives Drive Behavior” Cracking the Code with Predictive Analytics #CALDC3

Smart Selling Tools

This year was bigger and better than ever with over 70 breakout sessions, keynote speeches from CallidusCloud CEO Leslie Stretch, Lone Survivor Marcus Luttrell, and Data Scientist David McCandless. Their acquisition of Click-Tools also plays a key role.

Optimal Incentive Compensation Plan Design for Successful Implementation

OpenSymmetry

In the second scenario, the organisation has a strong HR or Sales leader driving the project who wants to look at a simplified process or wants a simplified incentives landscape before they start automating. We typically come across 2 scenarios with regard to plan design and automation.

How Big Data Can Help the Sales Leader

Sales Benchmark Index

Unless you’ve been living under a rock for the last two years, you’ve heard about “ Big Data ”. However, most Big Data examples concern large B2C companies. These companies are harvesting vast amounts of internet activity and point of sale data. It just required the right data.

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The ABCs of Compensation Planning: How to Build Better Incentive Plans

Xactly

Luckily, with the right tools, sales operations can reduce the stress and time it takes to design, test, and implement a new compensation plan, and they can work to maintain and tweak the plan throughout the year. How do pay and and incentives differ between high- and low-performing reps.

Wells Fargo: The True Cost of “Unchecked Incentives”

OpenSymmetry

Richard Cordray, director of the Consumer Financial Protection Bureau, suggests “unchecked incentives” were the root cause of the fraudulent accounts, further elaborating, “Incentive compensation structures are common in businesses and they can motivate positive behavior. What kind of behavior do current incentive compensation plans promote? Do you have the reporting capabilities to know whether goals are realistic and reachable (attainment rates, historical data, etc.)?

A Playbook for Data-Driven Sales Enablement

Mindtickle

Institute a data-driven conversation about enablement. A high level of “situational awareness” requires better readiness for your sales team and the adequate tools to get them to where they need to excel. Data-driven enablement plays. Enablement success…or not?

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X-Factor Compensation Leaders: How to Be Incredible at Incentive Planning (Wolters Kluwer)

Xactly

Those tasked with creating a plan must develop a process and incentive plan that will motivate and encourage the right sales behaviors to achieve goals, all while driving growth. Reporting on metrics still is a challenge and finding an easy way to consolidate the data.

Sales Forecasting Accuracy: How to Put Your Data to Work

Xactly

Sales data. Most companies have an abundance of it floating around—performance data, compensation data, financial data. Poorly-handled data creates a bit of a mess. Before we dive into exceptional , let’s discuss how many companies handle their data right now.

X-Factor Compensation Leaders: How to Be Incredible at Incentive Planning (Allergan)

Xactly

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. At Xactly, we want to provide an integrated incentive compensation planning process.

X-Factor Compensation Leaders: How to Be Incredible at Incentive Planning (Palo Alto Networks)

Xactly

The resulting incentive plan must develop a compensation process that will motivates the right sales behaviors to achieve goals, all while driving growth. My favorite Xactly trip/trick: Always download data from Xactly credits/payments prior to any calculation.

X-Factor Compensation Leaders: How to Be Incredible at Incentive Planning (Infoblox)

Xactly

A strong incentive plan drives sales behaviors that help companies grow and achieve their goals. Successful sales compensation plans require a balance between motivating incentives and revenue-driving factors, but that doesn’t mean it needs to be a stressful, time-consuming task.

X-Factor Compensation Leaders: How to Be Incredible at Incentive Planning (Allergen)

Xactly

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. At Xactly, we want to provide an integrated incentive compensation planning process.

Drinking Our Own Champagne: How Xactly Insights Data Improves Sales Performance Analysis

Xactly

Despite the fact that we live and breathe incentive comp, we are not immune to the factors that affect every sales organization. Looking at our own sales performance data, we asked ourselves the question can we analyze our sales performance and use our data more effectively?

10 Ways Data and Automation are Evolving Sales Planning

Xactly

Companies in all industries are beginning to dip their toes into intelligent tools to grow their businesses. AI/ML technology and algorithms are important, but the true value lies within data. For companies to truly reap the benefits of AI/ML, they need access and the rights to data.

How to Setup a Commission Plan in Six Steps

Xactly

Download our "Ultimate Guide to Sales Compensation Planning" for incentive best practices and everything you need for a sales comp plan design project. Gather as Much Data as Possible. Data is the most important and useful tool for any part of a strategic sales plan.

4 Steps to Ensure AI/ML has the Right Data to Learn

Xactly

Artificial intelligence (AI) may not yet be a go-to tool for salespeople, but it has evolved rapidly over the last few years from the theoretical to the buzzworthy. Data is the Key Differentiator. Gathering the Right Data. What it needs is focus on the data that matters.

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Old-School Territory Management is Dead: A Q&A with John Stewart, CEO of @MapAnything

Smart Selling Tools

What I got was an insight into modern, data-driven territory planning. In fact, Harvard Business Review research shows that data-optimized territory design can increase sales by two to seven percent without any change in total resources or sales strategy.

Top Ten Ways to Immediately Improve Sales Tool Adoption

The ROI Guy

You’ve worked hard to produce new value-focused tools, empowering your sales team to meet the growing challenges of today’s more empowered, skeptical and frugal buyer. So how do you achieve sales tool adoption in 2013? The sales tools need to be integrated into sales’ daily world.

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Social Selling and Big Data at the Upcoming Sales & Marketing 2.0 Conference #S20C

Smart Selling Tools

Social Selling and Big Data at the Upcoming Sales & Marketing 2.0 The focus is purported to be on the benefits of big data for B2B sales organizations with an emphasis on social technologies. How Big Data Gives Your Team a Competitive Advantage.

MBO Examples to Kickstart Your Sales Team Engagement

Xactly

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. An MBO program is a great tool for driving the behavior of non-sales-related activities, too.

Mo’ Adjustments, Mo’ Problems – and Mo’ Sales Comp Admins Won’t Solve Them

OpenSymmetry

How likely is your sales incentive plan going to be dead on arrival, riddled with holes caused by requests for changes and exceptions? At least three months prior to the new year, finance teams slave over intricate details and policies for sales incentive plans to make for a smoother payroll cycle next year. Evaluate your data feeds. This means your results are only as good as your data. Many tools today will integrate directly with your CRM product of choice.

Sales Performance Management 101 for Sales Reps: Getting the Sales Numbers You Need with the Right Technology

OpenSymmetry

Without adequate tools in place, you may not know how your commissions or bonuses are calculated or how much you can earn in a quarter. Additionally, existing tools may not make it clear which clients or deals to focus on to maximise your earnings and which actions you can take to maximise impact and your performance and overall company performance.

Is there a Way to Improve Sales Tool Adoption?

The ROI Guy

I n 2011 you worked hard to produce new value-focused tools, empowering your sales team to meet the growing challenges of today’s more empowered, skeptical and frugal buyer. And you are not alone, as SiriusDecisions reports that the average company now spends a whopping $43K on marketing content and sales tools per salesperson per year. So how do you get the much needed sales tool adoption to occur in 20012. Align incentives 6.

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It’s in the Numbers: Building High-Performance Sales Teams Through Data Analytics

Sales Training Advice

Everybody talks about data analytics in marketing and how it’s critical to find prospects who look like your existing customers. But data analytics is just as important for finding, hiring, managing, and retaining the right talent. Over the past few years, employers have been using data to predict the capability and capacity of candidates before they even walk through the door. We continue to refine that profile, applying performance data from our best team members.

How Culture Amp Got Their Team to Use Data as a Weapon

Troops

Growth Operations had a treasure trove of data and insights well laid out inside of Salesforce, but the Sales & Success teams weren’t taking advantage of their data to the extent they should have been. A New Way To Inject Data Across Their Processes. An added incentive for their team was the ability to attach easy actions so reps never even have to leave the interface they’re already working in. “Tr oops is one of the most powerful tools I’ve seen.

Is Your Compensation Plan Driving Sales to the Wrong Finish Line?

OpenSymmetry

For example, is investing more heavily in training a better option than the introduction of a content management or CPQ tool? What tools we are using to do our jobs. How we capture data and information. Few sales enabling investments engage a rep at the emotional level, and reps may have to use a tool or process because it is mandated, whether or not they really want to. “Moving the needle” in terms of overall sales force performance is no mean feat.

The Ultimate 126 B2B Sales Tools Rankings For 2018

Nudge.ai

We sifted through B2B sales tools on Capterra , G2 Crowd , Gartner and more to pull out our top 126 picks for everything from new-age social selling tools to B2B sales automation software. Monday: Simplified the complexity of a CRM into one visual tool. Top 5 Social Selling Tools. Top 5 B2B Prospect Research Tools. Mozenda: Quickly turn web page content into structured data. Top 10 Prospect List Creation Tools. Top 8 B2B Sales Intelligence Tools.

Mylan Sold Its Soul – Will Your Sales Team?

OpenSymmetry

From executive compensation and incentive strategies to the legislative framework, we will dissect this case to address the fact that this is not just a problem plaguing Big Pharma, but any entity that drives people within the organization to a goal through incentive compensation. Mylan’s Executive Compensation Structure – The Incentive Plan that Started It All. The principle demonstrated in this high profile case is that incentives undoubtedly drive behavior.

[VIDEO] Top Qualities of High-Growth Companies: A Conversation with Henry Schuck

DiscoverOrg Sales

That even if we were providing the highest quality data for them, that they still needed to be successful in their use of that data, and that they found success when they were able to grow. If we weren’t actually helping them grow and they weren’t actually growing after they used our data, it didn’t really matter how good that data was. We want to put tools and technologies in place that make it so we don’t have to work hard.”

[Webinar Recap] Transforming Enterprise Sales Organizations With Data and AI/ML

Xactly

While talk of AI/ML has yet to move into the sales performance management (SPM) space, there are tremendous opportunities for sales leaders to leverage data to improve sales performance. Traditionally, SPM has been synonymous with incentive compensation management (ICM).

Just Out! Our Top 20 Sales Tech Vendors to Follow at Dreamforce #DF17

Smart Selling Tools

If you’re there to see the best marketing and sales tools, you’ll want to plan ahead. Dun & Bradstreet @DnBUS D&B Hoovers is a sales acceleration solution that provides a faster path from prospect to profitable relationship by leveraging data and analytics.

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Lessons Learned for Sales and Finance Leaders in 2019

Xactly

In the webinar, “ CXO Fireside Chat: 5 Ways Data Can Elevate Sales Performance Management in 2019 ,” the two execs provided a behind-the-scenes look at how they’ve led Xactly to success. While many of their goals may differ, they can both achieve success with one important thing: data.

What is a Strategic Sales Plan?

Xactly

What incentives and sales commission structures will you use to motivate sales reps? Technology: What sales performance management tools can you invest in to reduce administrative burdens, increase performance visibility, create stronger reports, and analyze your team performance?