Incentive Gift Cards Continue to Delight

Sales and Marketing

Author: SMM Research from the Incentive Gift Card Council (IGCC) and the Incentive Research Foundation (IRF) shows the majority of U.S. they can be used for both short-term and long-term incentive efforts?—?adds Digital delivery continues to grow in incentive gift card use.

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. Wolters Kluwer is a global information services company headquartered in Alphen aan den Rijn, Netherlands.

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. 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.

Inside the Mindset of Users and Non-users of Incentive Travel

Sales and Marketing

Teaser: When Sales & Marketing Management magazine and the SITE Foundation initiated a comprehensive survey on the use of incentive travel, they knew that some of the most illuminating information would come from non-users of this motivational tool. Issue Date: 2014-09-01.

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Survey Results Validate Need for Transparency and Automation in Incentive Comp

OpenSymmetry

As it relates to operational challenges pertaining to period-to-period incentive compensation processing, the following three challenges emerged from the survey results: Limited reporting. Overwhelmingly, the biggest challenge for survey respondents already on an ICM (Incentive Compensation Management) technology platform was a lack of reporting by which front-line sales reps can track their own progress.

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

Smart Selling Tools

They aim to offer tightly integrated solutions that, when used together, not only feed information to each other but also provide added value by way of true automation. CallidusCloud held their Connections conference last week at the Wynn in Las Vegas.

Guest blog: 10 Success Factors for Quotas Part 2

OpenSymmetry

At the top of the account pyramid, national account quotas may be more accurately based on the information and strategies developed in an account plan. This is the second in a two-part series of Ten Success Factors for Better Quotas. Click here for Part I. Move Beyond History.

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IBM ICM Users, Rejoice: v10 is Here

OpenSymmetry

You may have heard of the IBM ICM (Incentive Compensation Management) Version 10 release and all of its bells and whistles. Pulse, a new administrative viewer for IBM ICM reports, centralizes all sales force data so administrators can quickly understand the current state of the sales force and get impactful information into the right hands. Incentive Compensation Sales Performance Management IBM ICM Incentive Comp Incentive Compensation Management upgrades

Guest blog: 10 Success Factors For Quotas Part 1

OpenSymmetry

By combining a bottom-up view with the top-down expectations, you can consider granular information from the field on account opportunity and reconcile it with a bird’s eye view of how that opportunity looks across markets and overall macro forecasts or trends for market growth.

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SPM Transforms the Career Path from Admin to Analyst

OpenSymmetry

In this fourth post, we discuss how sales compensation administrators can streamline the incentives management process using SPM technology and in doing that transform their role from an administrative function to a business and analytical function. With time now available that was previously spent manually calculating commissions, Sales Compensation Administrators can focus on analysing the rich data and information is provided.

Sales Performance Management 101 for the Corporate Board: Why SPM Strategy is Critical for Sales Success

OpenSymmetry

They need readily available information to track progress against targets and return on key investments. Company objectives, values and mission drive the brand and the reputation of an organisation, but most of the time the behaviour of sellers is not linked to these company objectives because incentives are not aligned or are not delivered effectively. In some cases, this will be due to poor incentives plan design.

Sales Performance Management 101 for HR: Keeping Employees Motivated Through Compensation Transparency

OpenSymmetry

Sales Performance Management (SPM) solutions links pay to performance and provides all of the supporting information in one place. Incentive compensation management systems, a core piece of SPM solutions, can automate calculation of sales commissions, bonuses, and MBOs, as well as directly linking each of these variable payments to the associated performance metric.

Sales Performance Management 101 for Finance: Know the Cost of Your Investment in Sales

OpenSymmetry

The sales team produces a large body of disparate information which needs to be collected, converted into a suitable format and analysed to build out forecasts and leverage incentive compensation for peak sales performance. Lack of visibility not only leads to poor results from incentive compensation initiatives, but it could cause future financial and legal issues if payments are inaccurate.

Crush communication siloes during your ICM implementation

OpenSymmetry

However, without getting the right information to the right people at the right time, your rosy future state may come with conflict, confusion, and delays. Further, if the end users aren’t informed of when the new SPM platform will be live, or worse, aren’t trained to leverage its capabilities and the associated new business processes, user adoption will be low meaning the company won’t receive the full return on its investment. How should these types of information be shared?

Sales Performance Management 101 for Sales Leaders: Maximising Performance of Your Sales Team Using the Right Technology

OpenSymmetry

SPM technologies like IBM Incentive Compensation Management empower Sales Leaders by providing real time pay for performance information. Sales Leaders have the information to ensure that incentive design rewards the top performers effectively leading to higher retention. For the mighty middle, Sales Leaders have the data to design incentives that encourages an extra 5-10% performance out of a group that can get complacent.

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

OpenSymmetry

Effective SPM can be a game-changer for sales organisations as sales and performance information is readily available to the seller bringing trust, motivation and direction to the sales process. By automating the process, SPM technologies like IBM Incentive Compensation Management empower salespeople and sales managers to effectively identify areas to maximise sales and earnings in each sales period.

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. For some companies, the majority of their adjustments are caused by faulty information coming through.

A Forthcoming Shift of Pharmaceutical Sales Compensation Plans?

OpenSymmetry

In some cases, incentive compensation (IC) methods have evolved to align with new regulations regarding specific sales metrics. Bowe claims this could be a source of the overdose crisis and a case of crossing the fine line between sales incentives and public health.

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

OpenSymmetry

How we capture data and information. Uncategorized Commission ICM Incentive Compensation Incentive Compensation Management Plan Design sales performance management“Moving the needle” in terms of overall sales force performance is no mean feat.

Outstanding in the Field: ICM Self-Service Enablement for Field Reps

OpenSymmetry

As mentioned in my previous blog , Incentive Compensation Management (ICM) solutions have moved far beyond being an automated calculator for determining commission and bonus incentives. This frees field personnel to take the desired actions and have the information needed, even with routing completely controlled by the current management hierarchy in place for initial field management approvals. Evaluate your current system for incentive compensation management.

OpenSymmetry Releases 2016 SPM Vendor Guide

OpenSymmetry

The 2016 SPM Vendor Guide is an information resource that provides organizations an introduction to the leading suppliers of Sales Performance Management systems and solutions.

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

DiscoverOrg Sales

What we wanted to do as part of the study is to go out and identify, what are the things that are driving growth at high growth companies and what are things that are inhibiting growth at low growth companies because that would really inform the way that we work with our customers to help them see the growth that they expect to see when they invest in DiscoverOrg.

The Criticality of SPM Technology

OpenSymmetry

While, incentive compensation administration is still a main piece, the broader SPM technology concept is expanding more holistically to include other key aspects which directly impacts how a sales team might perform, including talent development, sales enablement, and territory and quota management.

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A Forthcoming Shift of Pharmaceutical Sales Compensation Plans?

OpenSymmetry

In some cases, incentive compensation (IC) methods have evolved to align with new regulations regarding specific sales metrics. For example, Corporate Integrity Agreements (CIAs) were implemented by the DoJ as a way to curtail off-label drug promotion which forced companies to ensure their sales incentives encouraged proper compliance. Bowe claims this could be a source of the overdose crisis and a case of crossing the fine line between sales incentives and public health.

OpenSymmetry Named in the First-Ever Inc. Best Workplaces Awards

OpenSymmetry

For more information, please visit www.opensymmetry.com. For more information, visit www.inc.com. For more information, visit www.quantumworkplace.com. Magazine Incentive Compensation Management sales performance management SPMMagazine Introduces the Inc.

Part II The Territory & Quota Management Revolution

OpenSymmetry

The Territory & Quota Management Revolution – New Incentive Compensation Platforms Blazing the Trails to Greater Efficiencies. Fast forward 20 – 30 years to the age of enlightenment for Incentive Compensation Management solutions.

Improving the Sales Organization’s Change Readiness

OpenSymmetry

Many companies underestimate the change challenge and respond only tactically with the emphasis being on a quick response to a challenge often seen through rushed amendments to the incentive plan or hiring new people. Meeting the Change Readiness Challenge.

Congrats to Derek Connell on his Recognition in Consulting Magazine

OpenSymmetry

For more information, please visit our website, www.opensymmetry.com. Consulting Magazine looks at the top consultants in different categories and recognizes only 35 individuals to receive the Rising Star award.

[Webinar wrap-up] 5 Keys to Accelerated Lead to Money

OpenSymmetry

Peter O’Neill, Vice President, Research Director, Forrester Research and Laura Roach, Senior VP Marketing and Customer Success, OpenSymmetry shared valuable information on aligning the customer buyer journey for a holistic approach to accelerate Lead to Money in a recent live webinar.

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

Anthony Cole Training

Selling requires that you are motivated by incentives rather than effort. Click here for more information. Click here for more information on a tool so reliable that you can eliminate 96% of the mistakes made when hiring salespeople.

3 Key Insights Management Can Learn from an Inside Sales Team

Sales and Marketing

Teaser: In my 20-plus years of managing inside sales teams, I am still amazed at the amount of critical information they can provide to management. In my 20-plus years of managing inside sales teams, I am still amazed at the amount of critical information they can provide to management.

[Webinar Recap] How to Use Optimized Sales Planning to Drive Growth like Salesforce

Xactly

Nearly 70 percent of Xactly customers use Salesforce to manage their sales force compensation plans, and Salesforce is a long-standing Xactly customer (since 2010), using Xactly Incent to manage more than 15,000 payees on compensation plans.

How to Set Sales Pay Levels in 5 Easy Steps

Xactly

Target incentive for employees on a sales or local incentive (excluding employees on the annual management incentive plan) was around $222.7M Add base salaries amounts to the target incentives and the percentage to revenue jumps to 4.8

ABC = Always Be Collaborating

Sales and Marketing

These types of incentives align all employees on the growth of the business. An article in Chief Executive Magazine notes the rise of team-based incentives across organizations. rethink compensation and incentive structures.

Operation Green Turtle: Avoid Professional Embarrassment

SalesGravy

established an informal incentive program amongst themselves, which they referred to as “Operation Green Turtle”. In an effort to minimize any self-inflicted embarrassment, the astronauts. When an astronaut slipped up. and used a curse word d

What is the Best Commission Strategy to Motivate Sales Reps?

Xactly

Once you’ve done a detailed cost-of-sale analysis and established the compensation mix of base salary and commissions, you’re ready to create an incentive plan that drives the sales behaviors that will help you achieve company goals and objectives.

ABC = Always Be Closing Collaborating

Sales and Marketing

These types of incentives align all employees on the growth of the business. An article in Chief Executive Magazine notes the rise of team-based incentives across organizations. rethink compensation and incentive structures. Author: Galina Sheveleva ABC: Old Matra, New Twist.

Engaging B2B Customers Through Immersive Experiences

Sales and Marketing

To glean crucial information about motivation, you’ll need to dig deep. This information becomes the framework for the immersive experience you want to create. Instant awareness – The growth of e-commerce platforms and recommendation apps means customers are well informed, living in the moment, and easily connected to events and experiences. has nearly 20 years of experience in the event, incentive and recognition arenas.

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How to Rebuttal and Improve Your Sales Techniques

Xactly

It’s important that reps understand that when prospects give an objection, they are still giving you valuable information. They may give you useful information about their organization, for example if they currently buy from your competitor.

CDM: The New Sales Holy Grail

Sales and Marketing

Although this means greater market reach, many partners lack the resources or incentive structure to report back timely and precise information. Armed with little beyond a bare minimum of channel information, it’s nearly impossible for executives to make intelligent decisions about their sales strategy. Instead, sales leaders coax partners to follow sales strategy and share information by offering commissions and other incentives.