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.

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Incentives Incentive Scale Compensation 83

Xactly

MAY 10, 2018

Historically, sales performance incentives have been focused on individual recognition. Plans like individual sales quotas are designed to reward, recognize, and help retain high achievers, as well as motivate the average and below average performers to go above and beyond. This approach works. Pros & Cons: What the Research Says.

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Incentives Incentive Cost Per Thousand Compensation 49

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.

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Incentives Incentive Compensation SalesForce 40

OpenSymmetry

OCTOBER 14, 2016

Impossible-to-reach quotas, a high-pressure sales environment, and a lack of transparency throughout Wells Fargo’s sales organization. Yet companies need to pay close attention to their compliance-monitoring systems in order to prevent violations of the law and abusive practices.” The driver of these practices?

Incentives 40

Incentives Incentive Compensation Face-to-face 40

Sales Hacker

SEPTEMBER 27, 2022

He’s an expert in the sales world, particularly in revenue operations and incentive compensation. Today we’ve got Scott Barton, VP of Industry Solutions at Varicent and a veteran of sales, revenue operations, and incentive compensation. Sales forecasts, territory design, quota management, and incentive compensation.

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Compensation Incentives Incentive Quota 80

LeadFuze

NOVEMBER 10, 2021

The question is, what are the best strategies for increasing diversity in the social story selling system? In this article, we’re going to talk about why diversity is so important and how a diverse social story selling system can help you in sales. 7 Rules to Develop Your Social Story Selling System.

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System Outsourcing Services Hiring Social Selling 52

Sales and Marketing Management

FEBRUARY 28, 2019

Most sales leaders, after all, begin with the same ingredients: a good product, a strong team, a great CRM system, and so on. It comes from the way sales teams set up territories and quotas, measure their effectiveness, and adapt to changes. The days of one-size-fits-all quotas and blanket pipeline multipliers are gone.

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Strategy Marketing Incentives Incentive 149

Partners in Excellence

AUGUST 1, 2022

We do this through hiring the right people, training, giving them tools/processes/programs/systems to help them perform, providing the right support, eliminating barriers to their performance, and constantly coaching/developing them. We try to develop compensation plans that incent people to achieve those goals.

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Compensation Incentives Incentive Hiring 95

The Spiff Blog

SEPTEMBER 1, 2022

Nearly 60% of companies say that quotas are set as a collaborative effort between the CEO with input from senior management ( source ). of salespeople exceeded their quota last year ( source ). 64% of organizations reported correct quota setting as the major challenge for their sales compensation program in 2017 ( source ).

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Compensation Salary Incentives Incentive 81

SBI Growth

FEBRUARY 5, 2014

A strong leading indicator for a successful year is the impact of the reward system. 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. Spread the fame by recognizing more than just quota performance.

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Compensation Territories Hiring Commission 288

Partners in Excellence

FEBRUARY 6, 2020

He later extended the argument to include being accountable for achieving a quota compromised the ability of the sales person to be trusted. We see news about the incentives and tactics of many of the companies behind the Opioid crisis. But there is nothing inherent in quota or commission systems that cause people to be untrustworthy.

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Commission Ideal Customer Profile Incentives Incentive 105

Pipeliner

SEPTEMBER 1, 2020

The System. Because motivation is built right into the system of the game. Or, put another way, the system. The same is true in sales: if the sales manager is constantly having to motivate salespeople to sell to their full potential, there is something wrong with that system. Taking Another Step Back. Management agreed.

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Incentives Incentive Commission Motivation 98

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.

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Sales Management Strategy Lead Rank Lead Scoring 59

Your Sales Management Guru

SEPTEMBER 22, 2014

Sales Leadership: How to Ensure You Exceed Your 2015 Quota. I have listed the actions most organizations need to consider to exceed next year’s quota. I have listed the actions most organizations need to consider to exceed next year’s quota. Begin to recruit. They build pride, team work and drive revenue.

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Quota Sales Leadership Compensation Penetration 89

Xactly

JUNE 27, 2018

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. Creating Quotas, payout tiers and sales price ranges is key. Allergan is a leading pharmaceutical company headquartered in Dublin, Ireland.

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Compensation Incentives Incentive Pharmaceuticals 52

SBI Growth

OCTOBER 21, 2013

Systems Enhancement. A media organization recently created home grown CRM system. Accounts had to be entered in both systems, which required double the reporting. The homegrown system worked for tracking time and activity. Every minute spent navigating a slow moving system is a minute lost. Incentive Programs.

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Hiring Ideal Customer Profile Margin Face-to-face 293

The Spiff Blog

MARCH 21, 2023

It almost completely demolished its largest, non-Saas competitor, Siebel Systems, over a period of five to six years. And, not to be the bearer of bad news, but building a commission system in Salesforce is an equally heavy lift. We believe Salesforce realizes that its software isn’t ideal for handling incentive compensation systems.

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Commission SalesForce Siebel Software 74

Xactly

JUNE 27, 2018

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. Creating Quotas, payout tiers and sales price ranges is key. Allergan is a leading pharmaceutical company headquartered in Dublin, Ireland.

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Compensation Incentives Incentive Pharmaceuticals 45

OpenSymmetry

FEBRUARY 10, 2016

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. Finally, 70-80% of companies will have no or at best inflexible technology to support incentives.

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Incentives Incentive Compensation Territories 40

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. The most valuable benefit for gamification may be the impact on adoption of the CRM system by new hires.

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Hiring Case Study Lead Rank Lead Scoring 326

Xactly

MAY 7, 2018

The resulting incentive plan must develop a compensation process that will motivates the right sales behaviors to achieve goals, all while driving growth. Business Systems Administrator, Padmaja Chavali. Business Systems Administrator. Below is our interview with Palo Alto Networks Sr. Who: Padmaja Chavali. Position: Sr.

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Compensation Incentives Incentive Networking 49

No More Cold Calling

JULY 4, 2013

We’re always looking for more business and for any opportunity to reach and surpass our quotas. One industry leader I know provides strong incentives for salespeople to refer. That way, you’ll all meet quota, and your clients will receive the best possible service. We’d rather beg for forgiveness than ask for permission.

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Referrals Networking Enterprise Enterprise 244

No More Cold Calling

JANUARY 16, 2020

I’ve been there—given a quota (usually without my input) and a list of client companies, and then told to “go at it” and do whatever it takes to get meetings. And you will align all systems in your organization—recruiting, training, and compensation—to support the referral selling process. Align reinforcement systems.

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Referrals Sales Management Hiring Scale 328

SugarCRM

SEPTEMBER 17, 2019

As a credit union , having a systemized way to track what offers you are making to members is very important. It’s mission-critical to be respectful of their time and avoid repeating offers, it’s crucial to make sure your employees get credit for their incentives fulfilled and key to be able to track referrals related to these offers.

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Incentives Incentive Referrals CRM 20

SBI Growth

SEPTEMBER 20, 2012

As the leader of sales operations, I am sure you are working on: Updating CRM systems with new product information. So how do we incent this behavior? If your organization has not modeled sales projections, the new product should not be a component of a quota or variable compensation. How do we drive change?

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Compensation Incentives Incentive Penetration 244

Pointclear

NOVEMBER 29, 2012

When we look at a new CRM system (I refuse to use the one we have because it is so time consuming), can you have some of the users look at it first, and can we have some say in how it is set up, etc.? The sales stages in the CRM system are nuts. This doesn’t have to do with marketing, but why does management cap my incentive system?

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Marketing Sales Qualified Lead Commission Quota 221

PandaDoc

OCTOBER 30, 2023

Employee engagement increases when the incentives are worth the effort required to do well. Achieving goals that we’ve set for ourselves, as well as positive feedback and reinforcement along the way, triggers the reward system in our brain and floods our receptors with dopamine.

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Sales Process Incentives Incentive Hiring 52

The Spiff Blog

DECEMBER 7, 2023

Whether you’re a sales compensation manager struggling to get commission statements in order, or a sales rep trying desperately to hit your quota, the last month of the year often ends up being the most stressful. Your old employer still hasn’t moved on to an efficient, easy-to-use commission management system? Too bad for them… 6.

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Commission Banking Cold Calling Scale 80

Xactly

OCTOBER 10, 2018

If your fiscal year ends in December, you should have already started thinking about the next round of plan updates, plan tweaking, or a wholesale rebuild of the entire system. Are you an Xactly Insights customer using empirical data to benchmark your incentive compensation? maybe margin will be a new measure).

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Compensation Incentives Incentive Webinar Metrics 79

SBI

JULY 24, 2018

In fact, every year we see a drop in the number of sales reps hitting quota, even while quota targets are lower than ever. The system, the process, the technology, it all needs fixing. Look at all of your sales processes: Territory & quota planning. Incentive compensation management. Fool me twice, shame on me!

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CRM SAP Forecasting Incentives 95

Sales and Marketing Management

OCTOBER 21, 2019

They aggregate context, information and preferences from a number of sources into their system, so vital information is easily found. This is further compounded if the system includes additional approvals from the higher-ups. Explore automated CPQ systems, which can reduce the amount of time necessary for a quote from hours to minutes.

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Top of Funnel Hiring Commission SAP 136

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.

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Data Discount How To Quota 118

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.

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Compensation Company Hiring Salary 257

The Spiff Blog

DECEMBER 8, 2022

For years, this AE thought about one thing, “I have to hit my quota.” All of her training was about becoming a better seller so they may achieve quota attainment easier, late nights were spent updating the CRM because they wanted their forecast to be accurate, and then, when they exceeded quota, they joined the President’s Club.

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Compensation Motivation Sales Management Strategy 71

Xactly

JULY 19, 2018

Commissions play a key role in your sales compensation plans, driving sales behaviors and motivating reps to hit their quota. Depending on your sales force structure and size, there are different sales commission structures that can be used in your incentive plan. Research shows that it takes an average of 9.1

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Commission Hiring Incentives Incentive 83

The Spiff Blog

MARCH 8, 2023

Although an industry simply having a higher percentage of males or females isn’t necessarily problematic, the issue arises when there are systemic and societal obstacles preventing women from accessing and excelling in male-dominated spaces. In fact, only 78% of men regularly reach quota attainment compared to 86% of women ( source ).

Face-to-face 76

Face-to-face Incentives Incentive Commission 76

SBI Growth

FEBRUARY 5, 2014

A strong leading indicator for a successful year is the impact of the reward system. 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. Spread the fame by recognizing more than just quota performance.

Compensation 120

Compensation Territories Hiring Commission 120