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Incentive Compensation: What It Is & How to Structure a Plan

Hubspot Sales

Incentives are natural motivators — and sometimes, some "natural motivation" is exactly what your salespeople need to perform to the best of their abilities. That's why several companies leverage something known as incentive compensation : the practice of offering financial rewards for professional excellence. Retention Bonus.

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How to Train a Sales Team on Products: Use Modern Software, Not Old-Fashioned Training Techniques

Bigtincan

The solution, in our experience, is modern training software that allows sales reps to find and review product information exactly when it’s needed by using techniques like just-in-time learning (reps can look up answers as needed) and microlearning (short lessons for improved knowledge retention).

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Meet the Spiff Team: Chapter Five

The Spiff Blog

Welcome back to our Meet the Team series! So, without further ado, let’s meet the team! He soon discovered he had a passion for technology and software! Meeting new friends along the way, he picked up sports, which became a hobby of his until this day. And there you have it, another edition of our Meet the Team series.

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Compensation Transformation: 7 Tips for 2024 Sales Comp Planning

The Spiff Blog

Recommended reading: 23 Quotes to Guide Your Sales Compensation Planning Process Compensation Transformation Tip #2: Emphasize customer retention and other expansion metrics. Make sure you define what retention, up-selling, and cross-selling look like for your organization in specific and measurable terms. in 2020 to 52.9%

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5 Key Pillars of Effective Sales Performance Management

The Spiff Blog

These pillars include organizational alignment, robust reporting, ongoing professional development, incentive compensation, and sales enablement. Incentive alignment : Shared goals enable the design of incentive structures that motivate sales reps while aligning with the broader success of the organization.

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How to Improve Sales Productivity and Boost Team Efficiency

Nutshell

As the backbone of any business, the sales team needs to be efficient to meet targets and ensure the company remains profitable. Higher customer retention rates: With your uber-productive sales reps on the job, your customers will have a more enriched customer experience, instilling trust and loyalty.

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4 ways to use sales gamification in your sales process

PandaDoc

Research has shown that there are huge benefits to gamifying your sales process, including better worker productivity and retention when it comes to learning new things. Employee engagement increases when the incentives are worth the effort required to do well. Offer a buy-in option for a chance to win prizes via a drawing or a raffle.