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Bonus vs. Commission: What’s the Difference?

Xactly

First and foremost, you need to incent your sales team to close deals. Without the right incentives and fair pay, performance will suffer. Because of this, creating a strong sales incentive plan can be a difficult task. Regardless of your incentive strategy, all compensation plans run on the belief that money drives behavior.

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Competition: The Invisible Enemy of Compensation Planning

SBI Growth

Discover tactical solutions to get the most out your incentive comp dollars. To compete for and retain talent, leaders must know what the market is paying. It’s essential to know reasonable salary ranges for the positions in your company. But for sales roles, it’s not enough to know “market” conditions.

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4 Sales Ops Lessons from the NFL

SBI Growth

Find out by downloading the Sales Performance Conditions Scorecard here. Overall strategy, go-to-market model and product suite are essential. Compensation : Akin to a pro athlete’s salary. Are your quotas attainable and reflective of current performance and market potential? Quotas : Your most important player statistic.

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How to Set Sales Pay Levels in 5 Easy Steps

Xactly

Having worked in consulting for a number of years, the question I get asked most frequently is “how is our pay compared to our direct competitors and to the market?” Target incentive for employees on a sales or local incentive (excluding employees on the annual management incentive plan) was around $222.7M

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How to Setup a Commission Plan in Six Steps

Xactly

Often, it includes a pay mix , made up of a base salary and variable commission pay. Download our "Ultimate Guide to Sales Compensation Planning" for incentive best practices and everything you need for a sales comp plan design project. Ideally you need a sales incentive planning team of six people.

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What is the Best Commission Strategy to Motivate Sales Reps?

Xactly

There are many variables to consider, such as the customers in your market, the scope of the territories you’re accessing, your product offerings and sales cycles, the specific demands of your industry, and the skill and experience of the sales reps, among others. Or, keep reading for more sales plan ideas.

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Align Sales Compensation with Your Goals

Pipeliner

Some pay commission based on sales, while others only pay on margin; still others blend both with incentives and special bonus plans. Do you want to open new vertical markets, focus on the profitable aspects of your business or increase certain activities, such as cold calling? Are your sales goals orders- or bookings-based?