Xactly

DECEMBER 10, 2018

Compensation drives sales behavior, which means your sales incentive plan is a critical factor in sales performance and objective achievement. The incentive compensation planning team faces the challenge of balancing executive priorities and designing incentives that motivate reps. Gather your previous and YTD data.

Incentives 79

Incentives Incentive Competition Compensation 79

Sales and Marketing Management

FEBRUARY 28, 2019

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. Territories today can be optimized to an unprecedented degree. Quotas can be tailored to each rep.

Strategy 149

Strategy Marketing Incentives Incentive 149

Xactly

JUNE 13, 2018

Effective territory design is the basis of strategic sales planning. Balanced territories allow you to set fair quotas, which have a huge impact on your incentive compensation and success of your salesforce. Ultimately, if your sales territories aren’t optimized, you hinder sales reps’ motivation and performance.

Territories 49

Territories Travel Webinar Metrics How To 49

Xactly

AUGUST 23, 2018

Sure, you know you need ICM to handle accurate and timely payments, but do you really need automated sales territory planning as well? Although automating technology for territory design can increase your sales up to 20 percent, territory planning is often categorized as a luxury in SPM—instead of as the necessity it is.

Territories 41

Territories Incentives Incentive Compensation 41

Steven Rosen

DECEMBER 2, 2012

Assuming this is the way your company defines performance, then the first challenge is, how well do you set quotas? For this to work effectively, quotas need to be set fairly against both large and small territories. Management needs to be able to understand opportunities and challenges in each territory when quota setting.

Territories 304

Territories Quota Comparison Incentives 304

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

SBI Growth

OCTOBER 6, 2013

Surely something is wrong besides the new incentive compensation. Especially if the number of sales reps hitting quota is usually low. On the contrary, it may be that Reps are resigned to not making quotas. Incentive targets are linked in a competitive fashion, not on my own improvement. Complaint #1: No complaints!

Compensation 293

Compensation Territories Incentives Incentive 293

OpenSymmetry

JANUARY 27, 2016

A critical element that is relatively new is territory optimization and we will examine the case for this in this article. The territory optimization and alignment element of salesforce effectiveness is vital for three reasons. Poor or excessive customer coverage if territories are too small, leading to missed revenue.

Territories 40

Territories SalesForce Incentives Incentive 40

Janek Performance Group

JANUARY 16, 2024

With salary, commission, bonuses, and other incentives, sales professionals often have options and feel in control of the compensation they receive, which can be great for motivation and fulfillment. As a result, there can be reduced incentive to work harder or produce more. This eliminates the intimidation of a hard quota.

Compensation 118

Compensation Salary Commission Margin 118

Xactly

AUGUST 8, 2018

In the recent 2018 mid-market sales incentive study, CFO Alliance reviewed the relationship between Sales and Finance departments—and how this partnership can positively impact a company’s revenue potential. Incentive Compensation. Quotas are often set from a collaboration between the CEO, CFO, and Head of Sales. Watch Webinar.

Incentives 55

Incentives Incentive Compensation Webinar Metrics 55

Xactly

JANUARY 18, 2019

Download our "Ultimate Guide to Sales Compensation Planning" for incentive best practices and everything you need for a sales comp plan design project. Formulate your new plan around the successful elements and structure incentives for new goals similarly. Ideally you need a sales incentive planning team of six people.

Commission 81

Commission Incentives Incentive Compensation 81

Canidium

AUGUST 19, 2020

Many companies started paying draws, reducing quotas, increasing target incentives, or re-aligning territories to combat the economic impact from COVID-19. Yet the impacts of major events from the year will inevitably trickle into the early part of 2021.

Incentives 98

Incentives Incentive Territories SalesForce 98

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

Xactly

OCTOBER 29, 2018

This ultimately allows for better sales, territory, and compensation planning; thus, a stronger sales organization as a whole. . But to start, consider the following metrics in your sales performance analysis: Quota attainment: In 2017, the average quota attainment was 55 percent and this number is continuing to fall (yikes!).

Data 85

Data Top of Funnel Territories Compensation 85

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

The Pipeline

AUGUST 27, 2019

If you are a full-cycle rep, with a demanding client base in a defined territory, 23% is not bad. Buyers know they will be offered price incentives to bring a deal in sooner, like “end of the quarter.” In the process telegraphing to the buyer that despite everything you said to this point, the real object here is your quota.

Wireless 264

Wireless Discount Face-to-face Scale 264

OpenSymmetry

FEBRUARY 15, 2018

This is the second in a two-part series of Ten Success Factors for Better Quotas. Most organizations set quotas by looking backwards (The old, “Take last year’s goal and add 10% method).But Historic quota-setting may also create a “porpoise pattern,” where sales and quota attainment leap up and then dive in alternating years.

Quota 59

Quota Transportation Telecommunications Territories 59

Xactly

NOVEMBER 15, 2018

In fact, the best way to ensure sales managers do their job well is by creating an incentive plan that drives the right behaviors. Download our "Ultimate Guide to Sales Compensation Planning" for incentive best practices and everything you need for a sales comp plan design project. Annual Target Incentive. Set the Quota.

Compensation 87

Compensation Examples Sales Management Incentives 87

Xactly

JANUARY 17, 2019

Processes: Are your sales territories balanced ? What incentives and sales commission structures will you use to motivate sales reps? Territory design. The Right Quotas Start with Data. Quotas are then broken down into expectations for each sales rep who will collectively will help the company achieve its goals.

Hiring 70

Hiring Territories Incentives Incentive 70

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.

Compensation 80

Compensation Incentives Incentive Quota 80

Sales Hacker

OCTOBER 7, 2022

The event’s session agenda read much like it has in years past, with topics including sales comp fundamentals , plan design, quotas, analytics, and sales force motivation. For example, artificial intelligence enables the efficient and practical application of unstructured data for sales performance management and incentive plan design.

Compensation 76

Compensation Conference Trends Incentives 76

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.

Incentives 40

Incentives Incentive Compensation Territories 40

Xactly

JANUARY 7, 2019

The start of a new year comes with a new sales plan—and that means you must reassess your sales capacity needs , align and balance sales territories , and create a sales incentive plan that drives sales performance. See how a tiered commission structure drives performance and motivates reps to meet and exceed quota.

Compensation 90

Compensation Incentives Incentive Commission 90

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 New Hire Draw.

Commission 83

Commission Hiring Incentives Incentive 83

PandaDoc

APRIL 26, 2023

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. As a team, they generated $120k, exceeding the established quota of $100k. Territory volume commission is great for lifting team spirit.

Commission 52

Commission Salary Margin Scale 52

Hubspot Sales

OCTOBER 2, 2019

Having clear, visible goals and incentives builds well-rounded sales professionals. Here are some performance metrics to consider for your sales reps: Individual Quota Attainment - The percentage of the sales target reached for each sales rep in a given month or sales period. Performance-based compensation.

SAP 119

SAP Oracle Compensation Territories 119

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. Look at all of your sales processes: Territory & quota planning. Incentive compensation management. The tools they use needs to help them keep pace. It also doesn’t accelerate sales cycles.

CRM 95

CRM SAP Forecasting Incentives 95

Hubspot Sales

APRIL 24, 2019

Will additional bonuses or incentives be a part of the compensation plan? Relative Commission Plan : The relative commission plan is when a target or quota is set. Let's say a salesperson has a quarterly quota of $90,000 and a quarterly commission of $10,000. If they meet 85% of the quota, they'll receive 85% of the commission.

Commission 122

Commission Salary Compensation Territories 122

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

SBI Growth

SEPTEMBER 20, 2012

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. When designing the quota for 2013 sales reps, incorporate the new product into the compensation plan. How do we drive change? Call to Action.

Compensation 244

Compensation Incentives Incentive Penetration 244

SBI Growth

DECEMBER 19, 2013

Let’s incent everyone to sell more new logo business” he said. Incenting new logo business only further frustrated the sales force. Some territories were great and some were horrible. Yet everyone had the same quota. This Sales VP’s immediate reaction was to change the comp plan. He couldn’t have been more wrong.

How To 303

How To Incentives Incentive Demand Generation 303

The Pipeline

APRIL 20, 2017

We have seen organizations change the rules, incentives, quotas or other things, mid stream, just to accommodate an underperforming rep, or asset. But if the goals are doable (not easy), then sales leaders need to look at how they assemble the right assets to achieve those goals, which includes their team.

Face-to-face 159

Face-to-face Quota Incentives Incentive 159

SBI Growth

OCTOBER 21, 2013

Those reps were covering an extensive territory and large customer base. 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. Resource Allocation. An electronics manufacturer was seeing declining revenue per head.

Hiring 293

Hiring Ideal Customer Profile Margin Face-to-face 293

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

Hubspot Sales

JULY 22, 2020

Anaplan provides several cloud-based planning tools for sales: territory and quota planning, incentive compensation planning, sales forecasting, configure price quote optimization, and trade promotion planning. Plan 2 Win provides “the right strategic account, sales territory and pre-call planning tools for B2B sales teams.”

Tools 108

Tools Closing Territories Hubspot 108

Xactly

JULY 5, 2018

Annual Target Incentive. As part of your incentive plan design, consider the roles that will report to each sales manager, and ask yourself the following questions: Will your manager supervise one type of rep or a sales team of mixed roles (Sales Executives, Account Managers, Lead Generation Reps, etc.)? Set the Quota.

Compensation 69

Compensation Sales Management Examples Commission 69

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