Incentive Gift Cards Continue to Delight

Sales and Marketing Management

Author: SMM Research from the Incentive Gift Card Council (IGCC) and the Incentive Research Foundation (IRF) shows the majority of U.S. they can be used for both short-term and long-term incentive efforts?—?adds Digital delivery continues to grow in incentive gift card use.

5 Steps to a Competitive Sales Incentive Plan

Xactly

Compensation drives sales behavior, which means your sales incentive plan is a critical factor in sales performance and objective achievement. The resulting plan is your map to driving sales objective attainment for the year ahead. Redefine sales roles.

5 secrets to channel incentive success

Sales and Marketing Management

Distributors can wield enormous power carrying thousands of products and generating billions of dollars in annual sales. companies spend over $17 billion on channel incentive awards each year, according to the Incentive Federation. The simple fact is, if your products are sold through independent distribution channels, you need strategies and tactics to influence your channel’s people to align their goals with your sales.

You’re Done with the Revenue Plan; What’s Next?

Sales Benchmark Index

New tools make the process easier, however the resource allocation decisions. “Hello 2019, we’ll be right with you!”. Most of my clients have been in non-stop planning meetings since mid-August and earlier. Long days of adjusting and readjusting budgets and expectations.

5 Secrets to Channel Incentive Success

Sales and Marketing Management

Distributors can wield enormous power carrying thousands of products and generating billions of dollars in annual sales. companies spend over $17 billion on channel incentive awards each year, according to the Incentive Federation. The simple fact is, if your products are sold through independent distribution channels, you need strategies and tactics to influence your channel’s people to align their goals with your sales.

Leveraging Kaizen Principles for Incentive Compensation Management

OpenSymmetry

Our customers are seeing long-term success with implementing enterprise Incentive Compensation Management and Sales Performance Management solutions for their organizations. Lack of knowledgeable resources (both business and testing). Big Results come from Small Changes.

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. 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. Customer Satisfaction Incentive.

Six People You Should Invite to Your Incentive Compensation Planning Party

Xactly

You may feel we’re being a bit too generous here with the word “party,” but considering how much we love flawless incentive compensation, we think a celebratory vibe is just what your planning committee really needs. Incentive Compensation Sales Planning

Optimize Incentive Compensation With Integrated Sales Performance Data

Xactly

Incentive Compensation Management (ICM) solutions help companies manage their sales compensation plans and calculate commission payments. Today’s ICM solutions are aimed at optimizing more than just sales compensation, focusing on end-to-end sales performance management (SPM).

Optimal Incentive Compensation Plan Design for Successful Implementation

OpenSymmetry

In the first scenario, the eager software sales rep wants to expedite the project start and does not want to introduce any delays in their sales pipeline. Finance, Sales and HR all typically have different perspectives.

[Webinar Wrap-Up] Incentive Compensation in Retail: 5 Bottom-Line Benefits

OpenSymmetry

By retaining employees, enhancing customer service, and improving operational efficiencies, retail operations can increase sales performance and motivate sales teams while reducing valued employee turnover, thus securing a greater piece of the highly competitive retail pie.

How to Overcome Inconsistent Sales Rep Performance

Sales Benchmark Index

Most sales teams are composed of three groups: The Superstars – These gifted few need little oversight or incentive. Sales Leader Prospecting Account Segmentation Sales Enablement Sales Manager Sales Manager Resources

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Sales Reps Love Their CRM!

Smart Selling Tools

Sales reps love their CRM. In fact, who doesn’t love a good forecast session with their sales manager? Not only that, sales reps see tremendous value in the information reported back to them from the CRM. Sales reps do not love their CRM and see little value in it.

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Compensation Plans for Top Sales Performers

Sales Benchmark Index

Effective incentive compensation is designed to reward desired selling behaviors. Your top sales reps have been living with the comp plan since kickoff. This is a crucial time for Sales leaders and their HR business partners.

How Top CEOs Get the Most Out of a New Product Launch

Sales Benchmark Index

Don’t over-compensate the Sales team to sell the new product. Reward Product Management and Customer Support with sales incentives. CEO CEO Resources New Product Compensation You are close to launching a new product. As CEO, ask yourself a question.

How to Setup a Commission Plan in Six Steps

Xactly

Motivating your sales reps is one of the key factors of sales success. In most sales organizations, the sales commission plan is the best way to do this. Your sales commission plan is a portion of your sales compensation plan. Optimize Your Sales Plan.

IBM ICM Users, Rejoice: v10 is Here

OpenSymmetry

You may have heard of the IBM ICM (Incentive Compensation Management) Version 10 release and all of its bells and whistles. Pulse, a new administrative viewer for IBM ICM reports, centralizes all sales force data so administrators can quickly understand the current state of the sales force and get impactful information into the right hands. Incentive Compensation Sales Performance Management IBM ICM Incentive Comp Incentive Compensation Management upgrades

Guest blog: 10 Success Factors For Quotas Part 1

OpenSymmetry

When executives design a good sales compensation plan, the team steps back and admires the final product. To the design team, it’s not a comp plan, it’s a sales compensationprogram. Quotas involve a different set of players than sales compensation.

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Sales Compensation Plans Explained: The Ultimate Cheat Sheet (with Videos)

Xactly

Commissions are the cost of doing business, but it’s easy to forget that sales compensation plans power your business. Choosing what sales compensation plans to implement, then, becomes an integral business strategy for sales and finance leaders. Easily explained to sales reps.

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. And, they can have a big impact on sales team engagement and motivation. How MBOs Affect Sales Team Engagement and Motivation.

Crush communication siloes during your ICM implementation

OpenSymmetry

If all the dependent parties are not fully engaged and aware of what contributions are needed, it could cost the company valuable resources. Incentive Compensation Sales Performance Management communication ICM Incentive Comp Incentive Compensation Management sales Sales Comp Sales Compensation sales performance management SPMIt’s the beginning of the year, and a much-needed ICM implementation may be in the works.

The Strategic Account Manager – How do you Compensate This Critical Role?

OpenSymmetry

Today’s organizations are more complex; they sell through multiple channels, have complicated coverage models, and network of sales roles to sell their products, services, and solutions. We completed a sales compensation plan audit for a telecommunications company last year.

OpenSymmetry Releases 2016 SPM Vendor Guide

OpenSymmetry

The 2016 SPM Vendor Guide is an information resource that provides organizations an introduction to the leading suppliers of Sales Performance Management systems and solutions. To download the full resource, click here.

Outstanding in the Field: ICM Self-Service Enablement for Field Reps

OpenSymmetry

Likewise, it’s no surprise that more companies are adopting that same mantra with employee self-service in regards to their field sales force. As mentioned in my previous blog , Incentive Compensation Management (ICM) solutions have moved far beyond being an automated calculator for determining commission and bonus incentives. Through the improvement of workflow capabilities within ICM solutions, two major benefits change the game for field sales reps: 1.

The Criticality of SPM Technology

OpenSymmetry

How critical to sales success is the right SPM technology? Sales Performance Management (SPM) solutions are a critical component of an organization’s core business, as it is the linkage between behavior and strategy. The 2016 Sales Performance Management Vendor Guide.

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The Relationship between Mixology and Sales Performance Management

OpenSymmetry

In the same way, an optimal Sales Performance Management (SPM) solution is governed by individual circumstances but can be described in the same terms: The Right Foundation (i.e. The Perfect Finish – Business Process Optimization and Sales Transformation Outcomes.

Why Automate Sales Compensation Management

OpenSymmetry

OpenSymmetry’s (OS) focus was Sales Performance Management (SPM) software – how we define it, how we identify the business benefits and how to chose the right software. What are some of the challenges your organization faces as it relates to sales compensation automation?

What is a Strategic Sales Plan?

Xactly

A strategic sales plan is a portfolio of ideas, processes, and technology that guides a sales organization’s strategy and provides the resources and tactics for reaching sales goals. A successful sales organization needs productivity gains in order to achieve goals.

Part II The Territory & Quota Management Revolution

OpenSymmetry

The Territory & Quota Management Revolution – New Incentive Compensation Platforms Blazing the Trails to Greater Efficiencies. Gone are the simplistic days of sales reps simply “having a patch” to cover for selling their goods and services.

Sales Performance Improvement

The Digital Sales Institute

Sales Performance Improvement programs should be constructed in a way to better manage and channel the sales team to deliver higher levels of sales performance. What is Sales Performance Improvement? Sales Performance Improvement. Begin with the Sales Strategy.

Windows around the world

Sales and Marketing Management

Teaser: High-tech workers love their incentive stock options, but Microsoft’s Michele Samoulides says that incentive travel programs are some of the software giant’s most effective motivators. Issue Date: 2014-09-01.

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

Anthony Cole Training

HOME ABOUT US SOLUTIONS INTEGRATED LEARNING CLIENT RESULTS FREE RESOURCES SHOPPING CONTACT US SALES BREW SALES FORCE ONE SELLING FOR LIFE. 5 Direct Sales Activities that Lead to Sales Success? 7 More Sales Core Competencies. Sales Core Competencies I.

Are You Using Your Sales Performance Data Effectively?

Xactly

For sales organizations, sales performance data can be a useful tool to drive strategic planning and increase performance. . Using a sales performance management (SPM) solution to analyze sales performance data, organizations can gain vital insights into the landscape they operate in.

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How to Build Effective Sales Compensation Plans for Any Customer Facing Role

Sales Hacker

A great sales compensation plan needs to accomplish quite a lot. And of course, a strong sales comp plan needs to motivate reps to hit goals that grow the company while still maintaining a profit margin. The Process for Creating a Sales Compensation Plan.

7 Critical Sales Leadership Challenges

Steven Rosen

That could crush your sales organization. Let’s face it, being a sales executive has become increasingly more difficult. Chances are next year’s sales objective is going up and your budget is being reduced.

Crawl, Walk, Run – Three Small Steps for a Successful ICM Implementation

OpenSymmetry

As I work with companies to weigh different best-of-breed Incentive Compensation Management (ICM) platforms that might be optimal for their situations, I frequently witness companies grasp the robust capabilities of these solutions and immediately try to start sprinting to that ideal end state straight out of the gate. Communication ICM Incentive Compensation Management Strategy

Improve Sales Forecasting to Improve Sales Performance?

Anthony Cole Training

Yes, the title, "Improve Sales Forecasting to Improve Sales Performance?" It remains a question despite the millions of dollars spent on CRM, sales force automation, training and hype. And, because of these problems, there are challenges in the predictability of future sales.

How B2B Reps Use Social Debt to Get Sales Support

Sales Benchmark Index

B2B Sales Reps compete with their peers for sales support resources. Good Sales Reps consistently secure these resources and create their own virtual teams. You can cash in on Social Debt to build your virtual sales support team. Competition for Resources.

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Five Ways to Heat Up Your Summer Sales

The Pipeline

If you are looking for some marketing tips and tools to grow your business, take a look at these five hot ideas to warm up your sales. Incorporate the 4th of July and other holidays into your sales techniques and offer free shipping or a gift with purchase to your valued and new customers.

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

Sales and Marketing Management

Author: Brad Wilsted Note: This is part 3 in a 3-part series on the powerful role sales management plays in driving sustained revenue growth – and how companies can better leverage this critical position for improved top-line performance. Hire the right sales managers.