Incentives and Rewards: A Closer Look

Sales and Marketing Management

In short, more precision is better for rewards used with incentives, while less precision is better for rewards used with recognition. Incentives. Good incentives rely on high degrees of precision to generate motivation. Reps Benefit From Incentives.

Incentive Gift Cards Continue to Delight

Sales and Marketing Management

Author: SMM Research from the Incentive Gift Card Council (IGCC) and the Incentive Research Foundation (IRF) shows the majority of U.S. are increasingly using gift cards as a reward tool for multiple groups (channel, sales, employee and customer), and that investment in gift card rewards is both significant and growing. they can be used for both short-term and long-term incentive efforts?—?adds Digital delivery continues to grow in incentive gift card use.

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How Sales Leaders Can Motivate Younger Employees Through Purpose-Driven Incentives

Sales and Marketing Management

Millennials are now the largest group in the workforce, and like their Generation Z coworkers, they care deeply about environmental and social causes. Sometimes, the best incentive is the work itself. Or consider giving a gift that does good, just like your prospecting tool.

How Sales Leaders Can Motivate Younger Employees through Purpose-Driven Incentives

Sales and Marketing Management

Millennials are now the largest group in the workforce , and like their Generation Z coworkers, they care deeply about environmental and social causes. Sometimes, the best incentive is the work itself. Or consider giving a gift that does good, just like your prospecting tool.

10 Ways To Boost Your Sales Incentive Strategy

Sales and Marketing Management

Author: George Kriza, CEO, MTCPerformance Your organization wants to drive sales with an incentive program. Here are 10 of the most important elements in designing and deploying your next incentive campaign. Are they already in other incentive programs, or is yours the only one they’ll see? Target the right market segments: Decide which sales organizations, geographies and channels will deliver maximum performance for your incentive budget.

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. Creating incentive programs that work require balancing multiple design choices. If there is a balance of individual and team work, these incentives can be weighted in different combinations depending on the situation.

31+ Must-Have Tools to Automate Lead Generation

Sales Hacker

With this in mind, it’s important to identify the best tools to automate lead generation and why your team should invest in them. We’ve rounded up some must-have tools to automate lead generation across the following categories. Email marketing and list building/management tools.

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. After close to a year, we decided that Express was not flexible enough to handle our complex plans and increasing number of reps, so we decided to implement Xactly Incent in 2015. 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.

Sales Incentives, Awards, Lead Follow Up and Sales Effectiveness

Understanding the Sales Force

Dave Kurlan wrote: They should receive the incentive only if the opportunity makes it as far as 2 nd base in the sales process. Objective Management Group (OMG) won Gold for Top Sales Assessment Tool for the 2nd straight year! Understanding the Sales Force by Dave Kurlan Today I had the following email exchange: Subject: Question on Comp. Dave, I have a question on comp and I need help. We have "appointment setters" that have a quota of 16 appointments per quarter.

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. She works in implementation and design of plans/rules/reports using Xactly and acts as the liaison between the IT, Sales Operationss and other functional groups to help develop the best plan model for sales. Sales compensation is one of the most important components of sales planning.

Sales Incentives: What Works and What Doesn’t?

The Brooks Group

The driving motivators behind performance can vary greatly from one individual to the next, but there are some groups who are generally fueled by the same set of rewards. By adding in a few carefully selected sales incentives, you can capitalize on this competitive streak and really get your team to race full speed towards sales goals. Sales incentives can be broken down into three categories. Tangible Sales Incentives. Intangible Sales Incentives.

PODCAST 117: The Tools You Need If You Want to Succeed at Scale with Michael Coscetta

Sales Hacker

That’s an incredible success story in terms of their ability to work with and attract the best brokers, build a massive brokerage community, and give those people the tools they need to succeed. Today on the show, we are incredibly excited to have Michael Coscetta.

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Sales Incentives: What Works and What Doesn’t?

The Brooks Group

The driving motivators behind performance can vary greatly from one individual to the next, but there are some groups who are generally fueled by the same set of rewards. By adding in a few carefully selected sales incentives, you can capitalize on this competitive streak and really get your team to race full speed towards sales goals. Sales incentives can be broken down into three categories. Tangible Sales Incentives. Intangible Sales Incentives.

Crush communication siloes during your ICM implementation

OpenSymmetry

For SPM software implementations, with myriad stakeholder groups involved in the project’s success, it’s critical that each group has clear expectations. Evaluate the current structure for communication within your organization, the overall readiness of each stakeholder group for the new platform, and the future state processes and ownership of the new system. It’s the beginning of the year, and a much-needed ICM implementation may be in the works.

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. If you are using spreadsheets and manual calculations to generate commissions, consider a Sales Performance Management (SPM) tool to help automate.

The Ultimate List of B2B Marketing Tools

Zoominfo

In today’s blog post, we discuss 30 B2B marketing tools you can’t live without. Customer relationship management (CRM) platforms aren’t strictly sales tools. Marketers can leverage CRM tools for a number of tasks, including audience segmentation, project management, campaign management, and more targeted marketing. Whether peer reviewing copy, sharing campaign results, or sending project updates, B2B marketers can fuel productivity with team collaboration tools.

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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. 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 achieve sales tool adoption in 2013? Is there a way to get sales to sell on value and leverage the tools to do so?

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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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What You Must Know Before Changing the Sales Compensation Plan

Braveheart Sales

The plan should be designed to incent individuals to perform the way leadership desires in support of the company’s goals. Blog By Gretchen Gordon compensation plans Motivation Objective Management Group sales leadership Sales Management2021 (thankfully) is weeks away.

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.

A New Insight into Motivation and How to Inspire Your Salespeople

Braveheart Sales

Well, thanks to Objective Management Group’s never-ending quest for improvement and precision predicting success in a changing world, a new insight has been discovered. Not every one of them will respond to “across the board” incentives. But by understanding each salesperson’s motivation type, you can individualize incentives to what each will respond to. Blog Blog Sales Leaders By Gretchen Gordon Objective Management Group OMG Tools Sales Motivation

Hit Your Channel Sales Goals with ROI Selling

The ROI Guy

A survey reveals that the majority of B2B firms are now generating 60% of their revenue through indirect channels (The 2112 Group). To attract and enable partners, tech firms are investing more towards channel Incentives, now one of the largest marketing expenditures, with the typical technology provider allocating 3% to 5% of revenue to indirect channel incentives (Accenture). Rightly or wrongly, a growing number of companies perceive direct sales as ever more expensive.

Selling - Do You (They) Have What It Takes?

Anthony Cole Training

sales tools (25). Harvard Business Review John Maxwell on Leadership Objective Management Group Pritchetts Rapid Read Mark Trinkle - Salesforce One Chris Carlson The Sales Force Playbook Selling For Life The Secret Verne Harnish the Growth Guy Sales Development Experts Dave Kurlan - Sales Assessments Seth Godin - Marketing Ian Brodie - Sales Excellence Dave Kahle- B2B Sales Blog. Tony Cole, Founder and CEO of Anthony Cole Training Group.

Firing Up the Revenue Engine Post-Crisis

Sales and Marketing Management

In addition to strategic alignment, now is the time to invest in partner success programs – providing them with resources, knowledge and tools to achieve those established objectives. According to a recent survey conducted by The 2112 Group , channel marketing budgets are holding fast.

Firing up the revenue engine post-crisis

Sales and Marketing Management

providing them with resources, knowledge and tools to achieve those established objectives. Leverage the right engagement tools to drive sales. When it comes to channel engagement, the right mix of sales incentive tools is still the most effective and impactful.

The value of fresh starts

Sales and Marketing Management

Incentive designers have come to know this from years of their own experiences and observations. They have witnessed successes with the classic Fast Start component of incentive programs for decades. This tool is tremendously powerful at turning motivation in to results.

How Engaged Accounts Can be Known and Then Treated More Effectively

Smart Selling Tools

For example, you add a cadence tool or team without looking at your sales enablement capabilities – your ability to support them. By this, I mean things like if your KPIs or incentives are driving the wrong behavior, you need to adjust them. Beware of tools that only deliver speed. Look for tools that offload work from the individual seller and ideally eliminate it altogether. Transforming Sales: How Engaged Accounts Can be Known and Then Treated More Effectively.

6 steps to adapt effectively

Sales and Marketing Management

Optimize your e-commerce channel to give buyers ease and convenience, and make sure all your sales channels are integrated and incented to collaborate with each other. Group travel is down, but not out.

The Future Of Sales Is Virtual….

Partners in Excellence

We have to learn how to “manage” larger more diverse buyer/selling groups. We’ve long known that buying is a consensus building activity and the buying groups are growing. It seems the pandemic has created a new future for selling. Apparently, it’s virtual.

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Guest Post: Top 20 Reasons Why Sales Managers Suck at Coaching

Jonathan Farrington

Motivation - They don’t have the incentive (compensation) to justify the effort. He is the founder and CEO of Objective Management Group, Inc., the leading developer of sales assessment tools. General Dave Kurlan Kurlan & Associates Objective Management Group OMG Sales Leadeship Sales Management The latest interview between Jonathan Farrington, CEO of TopSalesWorld , and me is available here.

Beyond the Pay Mix: What Makes Salespeople Tick Today

Sales and Marketing Management

Incentives and bonuses are just the starting point. One way to support them is through AI-powered sales tools. But AI-powered new lead gen tools, such as Salesforce’s Einstein, are replacing customer-mining tasks, leaving salespeople free to pursue prospects and other high-value tasks. Compensation: Think beyond cash incentives. Offer incentives on the go and focus on experiences (e.g. travel incentives).

Top 20 Sales & Marketing Vendors to Follow on Twitter @Dreamforce ’14

Smart Selling Tools

Act-On’s streamlined user interface puts first-rate marketing tools at your fingertips, making campaigns and programs easier and faster. Transform your marketing & sales results with marketing automation, territory optimization, mobile learning, sales enablement, configure price quote and incentive compensation management, all in one suite, all in Salesforce with CallidusCloud. SAVO Group. Savo_Group. SAVO Group ToolSkool. That’s me with Sassy.

Cloning Top Performers

Sales and Marketing Management

Author: Theresa Thomas, VP Strategic Solutions, Hinda Incentives Have you ever daydreamed about cloning your top sales performers? Every salesperson wants to know what works; they crave new ideas and tools to help grow their business. Every single company has a group of top performers that display those successful approaches each and every day. Think of it. No more endless recruiting to find a salesperson like Jane who qualifies and closes sales in record time.

A Picture Is Worth a Thousand Words, and So Is One Great Customer Reference

Sales and Marketing Management

Although company websites, content and sales presentations are highly used assets when evaluating an organization and its products, a Harvard Business Review study determined that customer references are an influential decision support tool too. Define benefits for stakeholder groups.

Burnout Becomes a Bigger Fear in WFH Environments

Sales and Marketing Management

We evolved into humans in groups. If we don’t understand where we are in a crisis and what we are feeling, it will be tough to lead ourselves or others to something different,” change consultant Talita Ferreira states in an article for Conference & Incentive Travel.

The importance of collaboration in a remote world

PandaDoc

Collaboration is when a group works together to accomplish a common goal. The ant’s incentive to collaborate was to survive. Let’s look at each in more detail: Incentives: This study found that the lack of incentives and rewards is the most common barrier to effective collaboration.

The Bonding Power of Travel

Sales and Marketing Management

Author: SMM staff As the former chair and CEO of the global hotel and travel company Carlson, Marilyn Carlson Nelson has spent a lifetime helping companies enhance relationships with employees and clients through incentive travel experiences. SMM:  Why is travel such an effective tool for companies to build relationships with employees and clients? There are virtual employees who often don’t meet each other until they participate in a meeting or incentive trip.

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The 5 Essential To-Dos for Every Inside Sales Leader

Smart Selling Tools

I soaked in the information presented at the breakout sessions that covered relevant topics such as, how to lead a Gen Y team and drive results, effective on-boarding, compensation and incentive strateiges, account planning; and the art and science of online sales calls. Josiane Feigon, President of Tele-Smart led a panel on inside sales tools you can’t live without which gave me the opportunity to talk about my favorite topic! Tweet AA-ISP Inside Sales Summit.

Improving the Post-Sale B2B SaaS Customer Experience

Sales and Marketing Management

Bringing a cross functional group of your best people shows the customer that you care and can attend to all of their needs and can foster loyalty through any rough patches ahead. Companies should invest in several tools to measure key customer adoption and behavior metrics and milestones.

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Manager, If You’re Doing Deals, You’re Not Doing Your Job

Partners in Excellence

We do this by making sure we have the right processes, systems, and tools in place, and that our sales teams are leveraging them for maximum impact in engaging customers. We do this by managing for performance, by putting in place the right metrics and incentives. We do this by coaching and teaching our people, one on one and in groups. All sales professionals revel in doing deals. There’s an adrenaline rush working on a complex deal and making it happen.