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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.

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Doing The Whole Job

Partners in Excellence

As sellers, we have to manage our territories and accounts. We have to find as many opportunities as we can within those territories/accounts. Some have to be nurtured for some time, we try to incent as many as we can to change, qualifying them, helping them navigate their buying journey, ultimately making a decision.

Survey 129
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Sales commission structures explained

PandaDoc

So what can possibly be a better incentive than a performance-based bonus? Territory volume Territory volume is a commission paid off based on revenue from a specific region. Territory volume commission is great for lifting team spirit. Well, offer more and bigger incentives!

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Sales Reps Love Their CRM!

SBI

They love spending hours entering information about the email activity they’ve had with customers, meetings held, proposals delivered, and especially updating their forecast. Look at all of your sales processes: Territory & quota planning. Quotes and proposals process. Incentive compensation management.

CRM 95
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Creating the Ideal Performance Culture

SBI Growth

Those reps were covering an extensive territory and large customer base. It mapped to a proposal generating tool. Incentive Programs. Does your comp plan incent behaviors that will get you to your number? Resource Allocation. An electronics manufacturer was seeing declining revenue per head. Systems Enhancement.

Hiring 236
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How to Avoid Wasting Money on a Compensation Assessment

SBI Growth

Software Firm: The annual Employee survey is overflowing with negative comments about the incentive plan. Propose a Solution: Conduct a compensation study and redesign the plan. Here is what a complete assessment uncovered: Heavy Equipment Company: A territory design and organizational structure problem was the root cause.

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Onboarding Sales Talent The Right Way: The Sales Manager’s Perspective

Janek Performance Group

5) Develop realistic goals Assess their sales territory and lay out the best course of action for each district or demographic. Some examples of leading indicators include the number of calls made, number of successfully completed demos, number of submitted proposals, or follow-up encounters with prospects.

Hiring 62