The Spiff Blog

SEPTEMBER 7, 2023

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.

Incentives 83

Incentives Incentive Scale Compensation 83

OpenSymmetry

JUNE 9, 2016

The Journey to Sales Incentive Optimization. A familiar scenario that salesforces experience is the excitement and optimism of the new sales incentive launch, followed by the realisation that: New rules have been introduced which limit the kind of high payouts experienced last year which made the plan unaffordable.

Incentives 40

Incentives Incentive Compensation SalesForce 40

Jeffrey Gitomer

OCTOBER 10, 2018

These reasons seem pretty easy to overcome, yet studies show that more than 70% of our adult society does not even set goals in writing. What's my incentive? Is my incentive strong enough to ensure achievement? Sales note.Don't confuse goals with quotas. A goal is a game plan to achieve and exceed a quota.

Sales Goal 190

Sales Goal Hiring Incentives Incentive 190

The Spiff Blog

SEPTEMBER 1, 2022

In a recent study of more than 160,000 salaries, job aggregator Indeed calculated the national average base salary to be $64,379 for a SaaS account executive and $49,216 for an account representative ( source ). of salespeople exceeded their quota last year ( source ). All other: $33,200. Only 24.3% Only 17.6% So glad you asked!

Compensation 81

Compensation Salary Incentives Incentive 81

The Brooks Group

JUNE 11, 2017

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. Sales incentives can be broken down into three categories. Tangible Sales Incentives.

Incentives 40

Incentives Incentive Motivation Hotels 40

Hubspot Sales

MAY 18, 2018

If your reps only have one goal -- meeting their quota -- they’re selling themselves short (literally). A Harvard University study found setting specific goals increases motivation beyond simply telling yourself, “ I’ll just do my best. ”. Let’s say they have to close an average of four deals per month to hit quota. No problem.

Sales Goal 145

Sales Goal Incentives Incentive Quota 145

Highspot

OCTOBER 11, 2023

Incentives and Recognition Reward top performers with appropriate incentives and recognition. Incentives, training, engagement, and process strategies are proven to work based on the motivation and urgency they drive upon sellers. Quotas: Setting achievable quotas motivates reps and provides a clear target.

Sales Management 59

Sales Management Strategy Lead Rank Lead Scoring 59

SBI Growth

JUNE 29, 2013

Incentive Compensation: Sales people are “coin-operated.” These include recognition, incentives, interpersonal support, and clear goals. Yet sales leaders have a different expectation: quota attainment. See below for links to case studies.) Read the case studies and watch the video demos of their solutions in action.

Hiring 326

Hiring Case Study Lead Rank Lead Scoring 326

SBI Growth

FEBRUARY 5, 2014

Erik Charles is the Principal Incentive Strategist at Xactly Corp. In a recent webinar , Erik noted that: "The total outlay for Incentive Compensation in the U.S. They roll out the draft plans in November, have a few meetings, adjust the territories and quotas, roll it out to the field and run off to the next challenge.".

Compensation 288

Compensation Territories Hiring Commission 288

Xactly

JANUARY 3, 2019

Industry and planning-specific statistics also help guide sales planning and incentive compensation. Companies that set cookie-cutter quotas across similar roles see 14% lower quota attainment than those that assign quotas based on territory-specific opportunities ( Complete Sales Planning Handbook. ).

Handbook 99

Handbook Territories Compensation Incentives 99

Hubspot Sales

DECEMBER 7, 2023

If you decide you want to hit 110%, 120%, or 150% of your quota, commit to doing the necessary activities to reach that number. Review your year-to-date quota attainment to gauge where you stand today, and calculate the number of customers you have to sign to hit your goal based on your historical deal size and velocity. Set a goal.

Data 117

Data Discount How To Quota 117

The Brooks Group

JUNE 11, 2015

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. Sales incentives can be broken down into three categories. Tangible Sales Incentives.

Incentives 40

Incentives Incentive Motivation Hotels 40

HeavyHitter Sales

JULY 1, 2011

Personality Study of 1,000 Top Salespeople-Harvard Business Review. In addition, tests were administered at Presidents Club meetings (the incentive trip that top salespeople are awarded by their company for their outstanding performance). August 2011. « Top Five Sales Presentation Mistakes | Main. Posted at 09:49 AM | Permalink.

Study 163

Study Lead Rank Lead Scoring Penetration 163

SBI Growth

OCTOBER 21, 2013

Performance culture is studied in depth in our 2014 Research Tour. Incentive Programs. Does your comp plan incent behaviors that will get you to your number? If a rep is not retiring quarterly quotas within a year, let them go. The comp plan must incentivize the right behavior. A client recently put out a new comp plan.

Hiring 293

Hiring Ideal Customer Profile Margin Face-to-face 293

Zoominfo

JULY 1, 2018

In fact, a recent study suggests that 91% of B2B buyers are active and involved in social media, while 75% are significantly influenced by social content when forming their buying decisions ( source ). Social sellers realize a 66% greater quota attainment than those using traditional prospecting techniques ( source ).

Buyer 190

Buyer Social Media Social Selling Incentives 190

Hubspot Sales

NOVEMBER 10, 2020

Studies have shown that happy, motivated people work harder, stay in their jobs longer, and make their companies more successful. Incentive-Based Sales Environment. Many sales environments, whether remote or in-person, B2B or B2C, operate with some sort of incentive-based program. Moreover, our team stayed together for years.

B2C 104

B2C Incentives Incentive How To 104

SBI Growth

OCTOBER 5, 2012

The bad news is, if you want to make quota, you need to overhaul the program. Same Old Quota: Back in the day, just getting past the gatekeeper and into the corporate office required a lot of legwork. Your quotas have grown, but not at the pace of clients who are willing to engage with your firm.

Compensation 257

Compensation Company Hiring Salary 257

Hubspot Sales

APRIL 11, 2023

One LinkedIn study found that 64% of recruiting professionals believe that the job search will be more favorable to candidates (as opposed to employers) over the next five years. To minimize turnover, consider offering promotion incentives to the top-performing salespeople at your business. times more likely to be engaged.

Churn 114

Churn Hiring Survey Hubspot 114

The Spiff Blog

JANUARY 9, 2024

Naturally, you might be looking for ways to decrease ramp-up time and get new reps hitting their quotas as soon as possible. Plan your ramp-up periods around a series of interactive training sessions, where new reps will shadow experienced salespeople, sit in on calls, study and discuss recordings of successful sales calls, and so on.

Banking 84

Banking Hiring Churn Scale 84

Nutshell

NOVEMBER 9, 2018

You thought you hired the right people and that everyone was a good fit for the company, so why aren’t they exceeding their quotas? We’ve compiled six of the best strategies for improving sales rep performance based on real-world research and case studies so you can get back to hitting your benchmarks in no time: 1.

Lead Rank 94

Lead Rank Sales Qualified Lead Lead Scoring Follow-up 94

Hubspot Sales

NOVEMBER 6, 2018

When noted economist Steven Levitt published the book “ Freakonomics: A Rogue Economist Explores the Hidden Side of Everything ,” he shared the disproportionate impact structural incentives have on the behavior of individuals and their output. Structural incentives are those created by the structure of what’s being done. Call activity.

Incentives 85

Incentives Incentive Lead Rank Sales Cycle 85

Janek Performance Group

AUGUST 23, 2023

For example, show the immediate effect of a Midwest supply chain issue on sales quota. Establish Credibility Through Case Studies and Testimonials Effective sales collateral starts with the collaboration of your sales and marketing teams. And buyers are motivated more by their personal interests. Align the problem with the person.

B2B 62

B2B Case Study Collateral ACT 62

Sales and Marketing Management

OCTOBER 21, 2019

There’s nothing more frustrating than having a prospective customer on the hook, then having to spend precious time combing for just the whitepaper or case study that fits their needs. Sales has a lot of incentive to bring in revenue, but they need the right tools to do it efficiently and effectively. Let Them Do Their Job.

Top of Funnel 136

Top of Funnel Hiring Commission SAP 136

PandaDoc

OCTOBER 30, 2023

Employee engagement increases when the incentives are worth the effort required to do well. When executed properly, contests can dramatically boost sales productivity by offering incentives for high performers. This could be a monetary incentive like a cash prize, or a prize of some significant value. Get the ebook 2.

Sales Process 52

Sales Process Incentives Incentive Hiring 52

Zoominfo

MAY 13, 2018

According to one study, eight out of ten people say they’re stressed from work ( source ). Start small, and expand your incentive program as you learn and grow. While this advice may sound cliché, it really is important for sales reps to approach their quota one day at a time. Keep reading! The Impact of Stress in the Workplace.

Hiring 258

Hiring Sales Qualified Lead Lead Rank Lead Scoring 258

The Spiff Blog

MARCH 8, 2023

In fact, only 78% of men regularly reach quota attainment compared to 86% of women ( source ). Spiff’s sales commission software enables finance and sales operations teams to self-manage complex incentive compensation plans and provides transparency for sales teams.

Face-to-face 76

Face-to-face Incentives Incentive Commission 76

SBI Growth

FEBRUARY 5, 2014

Erik Charles is the Principal Incentive Strategist at Xactly Corp. In a recent webinar , Erik noted that: "The total outlay for Incentive Compensation in the U.S. They roll out the draft plans in November, have a few meetings, adjust the territories and quotas, roll it out to the field and run off to the next challenge.".

Compensation 120

Compensation Territories Hiring Commission 120

Janek Performance Group

MARCH 17, 2023

Dr. Albert Mahrabian , a professor at UCLA, conducted a study to find out what determines an individual’s communication impact. The study’s results help us understand high-performing sales reps’ effectiveness. The study found: 7 percent of communication impact is determined by the words used.

Referrals 62

Referrals Exercises Discount Study 62

Vengreso

JULY 5, 2023

Reward System: An incentive system encourages more people to participate in referring others to your offerings. A study by LinkedIn Sales Solutions revealed that salespeople who excel at social selling are creating more opportunities – they’re 51% more likely to hit quota than those who lag behind.

Referrals 89

Referrals Maximizer Ideal Customer Profile Social Media 89

Miller Heiman Group

FEBRUARY 26, 2019

According to CSO Insights’ 2018-2019 Sales Performance Study , only 54 percent of salespeople are making or exceeding quota. With organizations generally targeting a 70 percent quota attainment goal, this represents a major challenge to sales effectiveness. Organizations aren’t setting quotas effectively.

Strategy 71

Strategy Territories Quota Proposal 71

Mindtickle

JANUARY 19, 2023

Forrester’s 2021 B2B Buying Study ). Forrester’s 2021 B2B Buying Study ). The Bridge Group ) Sales reps who use social selling are 50% more likely to meet or exceed their quota. The Bridge Group ) Sales reps who use social selling are 50% more likely to meet or exceed their quota. Forbes ) Rep time management Only 35.2%

Strategy 52

Strategy Cold Calling Lead Rank Lead Scoring 52

Miller Heiman Group

MARCH 12, 2020

Get the Case Study. While early adopters generated more incentive revenue than anyone else on the team, others balked because they felt that this program turned the customer support team into salespeople with quotas. Get the full case study here. But not all customer support reps embraced this change.

Revenue 63

Revenue Strategy Customer Case Study 63

Salesmate

JUNE 4, 2021

One such practice is that of providing sales incentives to the salespeople. What are sales incentives? Call it what you will, incentives are what get people to work harder.” – Nikita Khrushchev . In simple terms, sales incentives are something that motivates your team to wake up in the morning and get to work.

Incentives 105

Incentives Incentive Compensation Motivation 105

Smooth Sale

MARCH 17, 2022

A slightly higher percentage of women in sales (70%) make quota over men (67%). A 2019 study by incentive solution provider Xactly reported that 86% of women achieved quota, compared to 78% of men. Yet, women receive less pay than men. Women typically stay in their roles longer than men (one year longer).

Scale 78

Scale Hiring Lead Rank Report 78

LeadFuze

DECEMBER 31, 2021

I have found that the best way is by offering incentives, like a prize of sorts. Incentive contest ideas are one way of motivating employees. I recently did a case study on 7 steps to running an effective SDR cold calling contest. One of the key points is having incentives for all levels, not just top performers.

Motivation 52

Motivation Incentives Incentive Top of Funnel 52

Miller Heiman Group

JULY 18, 2018

In our 2018 Sales Operations Optimization Study conducted by CSO Insights, only 47 percent of respondents reported adoption rates of greater than 90 percent. In our 2018 Sales Operations Optimization Study, we also asked respondents to share which areas needed the most improvement over next 24 months.

CRM 81

CRM Forecasting Study Top of Funnel 81

Miller Heiman Group

FEBRUARY 21, 2019

In 2018, just 54 percent of all sellers met their sales quotas, according to CSO Insight’s 2018-2019 Sales Performance Study. Furthermore, only 16 percent of sales leaders say they are confident they have the talent needed to succeed into the future, according to CSO Insights’ 2018 Sales Talent Study.

Hiring 62

Hiring Study Sales Talent Case Study 62