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? Isn’t my objective to grow sales or meet the numbers handed down to me from senior leadership? Part and parcel to that success is the deployment of effective sales incentives.

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.

Team incentives: 7 do’s and 2 don’ts

Sales and Marketing Management

Author: TIM HOULIHAN Do you avoid team incentives because you are worried about being fair? Teams perform better than individuals [ Kuhn, “Experiments on Motivation, Incentives and Rationality” 2007 ], and you and your bottom line can benefit from rewarding teams. Don’t deprive your teams of these two important tools. A friend of mine speaks fondly of when her firm recognized her team (and their guests), some 20 years ago, for achieving a stretch objective.

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.

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!

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. Customer Stories Incentive CompensationSales planning entails many important factors.

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.

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. From there, do we have the Sales team in place to achieve objectives?

Best 150+ Sales Tools: The Complete List (2019 Update)

Sales Hacker

And then, there are sales tools…. So if technology improves your process, or helps you close more deals, add it to your arsenal of sales tools and get cracking! There’s Plenty Of Fish (I Mean Sales Tools) In The Sea. There’s a vast ocean of sales tools in the market.

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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. From there, do we have the Sales team in place to achieve objectives?

Hiring Sales Talent: A Tool to Help CEOs Get It Right the First Time

Sales Benchmark Index

Growing the company means having time to focus on strategic business objectives like: Acquiring new companies. A Tool for You. Download the CEO’s Time Management Tool to get started. C ompensation – Your incentive plan will help you attract the best talent.

Sales Incentives: What Works and What Doesn’t?

The Brooks Group

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. Adventure Sales Incentives.

Sales Reps Love Their CRM!

Smart Selling Tools

When the first sales automation tool was launched, it truly changed the way sales were managed. The early 2000’s introduced cloud-based sales automation tools, but it was little more than taking the same empty promises of the 90’s and moving them to the cloud. Sales reps love their CRM.

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Incentives and bonuses aren’t the cure alone: Encouragement, listening and support are free

Mereo

Incentives and bonuses motivate sales professionals for good reason. A CSO can throw all the incentives and bonuses they want at their team to keep their top performers around, but that strategy alone will get costly. Good sales leadership: Speak to salespeople to the tune of incentives and rewards. Great sales leadership: Listen to your salespeople and support the growth of their individual qualities and career objectives.

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. Data is the most important and useful tool for any part of a strategic sales plan. Follow the ABCs of Incentive Planning.

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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MBO Examples to Kickstart Your Sales Team Engagement

Xactly

Management by Objectives, aka MBOs, are goals set for employees to improve overall sales performance, as agreed up on by sales manager and rep. Have you translated an organizational goal to an employee objective? Incentive Compensation Sales Coaching and Motivation

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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The Secret Tool You Can Use to Close Way More Deals

Hubspot Sales

Once the prospect has invested time in creating a deal plan, they have more incentive to move forward so their work doesn’t go to waste. Go straight to your blockers with the plan to air out all their objections.

Tools 101

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

OpenSymmetry

Many Sales Enablement investments pay off in the course of 12 months or more; however, heads of sales departments have quarterly objectives, so they must somehow saddle and ride the horse at the same time. 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. “Moving the needle” in terms of overall sales force performance is no mean feat.

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.

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

Anthony Cole Training

dealing with objections (7). sales tools (25). Selling requires that you are motivated by incentives rather than effort. Click here for more information on a tool so reliable that you can eliminate 96% of the mistakes made when hiring salespeople.

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

Xactly

As one of the most successful sales organizations in the world, Salesforce has optimized their approach to sales planning using tools such as Xactly to manage their global sales force and drive company growth. Ultimately, sales compensation comes down to incenting the right sales behaviors.

9 Ways to Get the Most from Sales Video Coaching

Sales and Marketing Management

Accordingly, video coaching has become a popular tool for driving readiness in sales organizations of all sizes and across industries. How would you respond to these common objections?” “How Coaches can attach rewards and incentives (e.g.,

Bridging the Gap Between Sales and Finance

Xactly

If your company takes the initiative and automates their incentives and commissions process, you’ll easily remedy the main point of contention between Sales and Finance and bring your organisation closer together as a whole. A commission plan with too many incentives is sure to end badly.

Improve Sales Forecasting to Improve Sales Performance?

Anthony Cole Training

I read the white paper, and it clearly identified common problems with CRM tools such as SalesForce.com, ACT and other pipeline management tools. Yes, the title, "Improve Sales Forecasting to Improve Sales Performance?" is a question.

The keys to maintaining a great culture within a remote sales team

Close.io

These four steps are key to building and maintaining a great culture where your sales team hits their quota and is committed to your organization's vision and goals: Set crystal-clear objectives & goals. Get the right tools for the job. Get the right tools for the job.

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.

Will These 6 Tests Save 2013’s Sales Compensation Plan?

Sales Benchmark Index

But wait – this new incentive compensation plan could flop. Also, you’ll get many tools including a list of Sales Effectiveness Drivers to test your plan against. So, he commissioned HR to design a new incentive compensation plan (IC Plan.) Is the tool ready for easy entry?

Understanding the Fundamentals of Effective Sales Rep Management

Xactly

Sales reps may share one common goal—closing deals—but managers need to understand different personalities, adapt to unique learning styles, and provide the tools each rep needs to hit (and ideally, exceed) their quotas. Consider your sales incentive plan –it works in the same way.

Pay For Performance

Partners in Excellence

As is usual this time of year, I’ve been involved in lots of discussions of incentive and commission plans–both last quarter as people plan for the new year, and now as these plans are being introduced at Sales Kick Off Meetings.

Creating the Ideal Performance Culture

Sales Benchmark Index

Reps must have the tools and support to win the big deals. By signing up for the tour , you’ll receive the " Performance Culture Assessment " tool. The tools and resources in your organization play a large part in future success. It mapped to a proposal generating tool.

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Unleashing the Power of Frontline Sales Management, Part 3: Institutionalizing Sales Management

Sales and Marketing Management

They set clear objectives for manager-rep interactions, and they use a consistent set of leading indicators that drive the right activities. Create incentives that drive the right behaviors.

Are Sales and Sales Management Candidates Getting Worse?

Understanding the Sales Force

There are categories of sales tools and CRM applications where none existed a few years ago. The darker dotted line is the trend for the percentage of sales management candidates that were recommended by Objective Management Group for the same time period.

Is Your Compensation Program Missing the SPM Boat?

Xactly

When Xactly was founded more than 13 years ago , the company had a simple vision to democratize incentive compensation management and put powerful calculation tools in the hands of every company.

How to Know Which Partners to Invest In

Sales Benchmark Index

It soon became clear that my client needed an objective way to review their partnerships. In order to help you determine which partners to invest in, we’ve developed the Partner Attractiveness Tool. This is where the Partner Attractiveness Tool comes into play.

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Transforming Enterprise Sales Organizations With AI/ML

Xactly

For decades, companies have gathered different tools to manage compensation. Previously, sales performance management (SPM) has typically been categorized as solely focused on incentive compensation management (ICM) and sales compensation planning.

Why Your Sales Contest is Demotivating Your Sales Team (& How to Fix It)

Sales Hacker

If you haven’t set the qualification bar high enough for you to realize your desired profit, net of all variable expenses, including the cost of goods, sales commissions and the incentive prize, then your sales contest will fail. The Bottom Line for Successful Sales Incentive Contests.

7 Critical Sales Leadership Challenges

Steven Rosen

Chances are next year’s sales objective is going up and your budget is being reduced. CRM platforms, pipeline analytics, and candidate assessment tools can exponentially increase the productivity of your managers and reps. That could crush your sales organization.

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