The Spiff Blog

OCTOBER 6, 2022

Perhaps you’re an 8-year-old business focusing on retention– or maybe you’re finally in a phase of sustainable growth. But remember that while the execs are driven by revenue and low customer churn, your sales reps are driven by their incentive compensation plans. Does this include all territories and teams, or just a portion of them?

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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.".

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Bigtincan

OCTOBER 11, 2021

The solution, in our experience, is modern training software that allows sales reps to find and review product information exactly when it’s needed by using techniques like just-in-time learning (reps can look up answers as needed) and microlearning (short lessons for improved knowledge retention). wherever they are and whenever they need it.

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The Spiff Blog

SEPTEMBER 22, 2022

As we start planning for 2023, the only thing we’re certain of is that we’re in rocky territory– some organizations more precariously positioned than others. Don’t neglect retention after an upswing. Retention is important in good times and bad times. Something else we were happy to confirm?

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Xactly

OCTOBER 1, 2018

Are we assigning effective territories? Despite the fact that we live and breathe incentive comp, we are not immune to the factors that affect every sales organization. In a world so focused on incentive compensation, Xactly Insights gives us a lot to think about. Is our pay in line with performance?

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Hubspot Sales

OCTOBER 2, 2019

Employee retention in the sales field continues to be an issue. Having clear, visible goals and incentives builds well-rounded sales professionals. Sales incentive compensation management - Tools to fairly and accurately pay your reps based on performance against their goals. years , down by half from 2010. Image source: Xactly.

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SBI Growth

SEPTEMBER 23, 2013

Territory design, quotas and compensation plans. Change the compensation plan to incent new logo growth by adding an accelerator. Increase base pay by 7-9% across the board to help with retention. Too few, you leave money on the table. Too many, you erode profitability. You must match selling capacity with market demand.

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Growbots

SEPTEMBER 19, 2018

Building a retention strategy that hits some of these key pain points can help ensure that you are retaining your best salesperson. Most salespeople are driven by financial incentives. Changing your compensation structure or rezoning your territories should only be done with extreme caution. It’s not just about the money though.

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Compensation Salary Incentives Incentive 55

Partners in Excellence

JANUARY 17, 2014

As is usual this time of year, I’ve been involved in lots of discussions of incentive and commission plans–both last quarter as people plan for the new year, and now as these plans are being introduced at Sales Kick Off Meetings. and the lists go on and on.

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Sales Hacker

MAY 26, 2021

The focus is on things like reporting, territory management and later stage tasks such as contract negotiations and finance approvals. If you love seeing results and helping sales teams get paid, focusing on performance and sales incentives is up your alley. Sales ops takes a high-level view of the sales organization.

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Partners in Excellence

JUNE 5, 2019

We have to attract and engage prospects/customers, we have to help them buy, we have to support them and assure they create value, we have to grow our share of customer and territory. I took over a territory from a sales person, the customer discontinued something the sales person had sold them.

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Hubspot Sales

OCTOBER 16, 2017

Increase retention rate. They get the security of a steady income with the economic incentive to sell. That usually boosts retention. Many subscription companies use clawbacks to keep customer retention high. Here are some common ones: Primary goals: Grow revenue. Increase cash flow. Increase average contract length.

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Compensation Hiring Salary Commission 124

Hubspot Sales

MARCH 21, 2019

And sales leaders use these metrics to track progress toward goals, make decisions and plans, adjust compensation, award bonuses and incentives, and identify issues before they become large problems. compare sales from two different territories) : Bar chart, column chart, line graph, pie graph, scatter plot. Comparing values (e.g.,

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Sales Hacker

DECEMBER 29, 2020

Ultimately their job was to bring back growth on that aggregate number by employing good retention of their existing accounts, growth in opportunities that they identified within their territory, and then also fielding new business opportunities and generating new business opportunities. Let’s be real. But we print for proposals.

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Customer Segment Top of Funnel Lead Rank 65

Xactly

APRIL 11, 2018

Revenue growth, gross margins, and sales costs as a percent of customer retention should be looked at in relation to the sales plan’s effectiveness. Of course, incentives are a big part of this, but find other ways to rally the troops, whether that’s food bribes or fun team building exercises. so there are no surprises.

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Compensation Webinar Metrics Decision Maker Motivation 54

Your Sales Management Guru

AUGUST 10, 2016

But before I detail their actions, the three things they did not do were: Add more VAR’s into territories creating too much competition. Constantly invent new sales or partner incentive programs. Customer Retention. Do I have your attention YET? Start selling directly to larger customers. Marketing Planning. Sales Management.

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Chorus.ai

MARCH 5, 2021

By the end of a successful persona build, you should have a very clear picture of your ideal customer(s): their ages, lifestyle attributes, territories, and pain points. Whether times are stable or chaotic, retention is a proven strategy for keeping your company in a secure place. Step 1: Set clear goals.

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Top of Funnel Webinar Metrics Strategy Buyer Persona 113

Sales and Marketing Management

SEPTEMBER 14, 2020

Often the most damaging aspect of disruption in a sales organization is fear and today teams are approaching uncharted territory with clear communications and sales strategies to bridge sellers’ pay while reducing risk. Reza Soudagar is head of product marketing for sales and customer service solutions at SAP Customer Experience.

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SAP Compensation Face-to-face Analytics 207

Sales and Marketing Management

JANUARY 27, 2019

They must know how to motivate people and hold them accountable, how to coach and develop sales reps, how to structure territories and match them to a rep’s skill sets, and how to leverage data and use it to drive performance. Create incentives that drive the right behaviors.

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Crunchbase

JULY 27, 2022

Performance and incentive program management. Often, sales ops oversee sales reps’ salaries, bonuses and other incentive programs that impact their current or future earnings. Parsing out territories. Sales team structure. Sales operations help the sales teams optimize their human capital. Enhance communications.

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Hubspot Sales

OCTOBER 20, 2021

Overpopulating Territories. That means more room for error — particularly when it comes to misallocating staff or accidentally overpopulating your existing territories. Well, you start by looking at three key factors: A territory's potential, its existing accounts, and your reps' broader workload. Disregarding Retention.

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Scale Hiring Compensation Territories 123

Bigtincan

SEPTEMBER 8, 2021

It also includes how training materials are created and managed, training format (online vs. in-person), training incentives, and anything else related to training and training materials. Recent research suggests that strategies like microlearning improve long term knowledge retention. for Training and Knowledge Retention.

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Xactly

OCTOBER 3, 2018

Consider your sales incentive plan –it works in the same way. Download our "Ultimate Guide to Sales Compensation Planning" for incentive best practices and everything you need for a sales comp plan design project. A little can go a long way with incentives. Sales territories lay the foundation for a successful sales plan.

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Xactly

OCTOBER 8, 2018

If territories aren’t balanced , you could be missing potential sales opportunities. Download our "Ultimate Guide to Sales Compensation Planning" for incentive best practices and everything you need for a sales comp plan design project. If you haven’t hired at the right pace, you can’t accommodate quota capacity. Data-based.

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Chorus.ai

MARCH 24, 2021

The Sales Growth Formula You can calculate your sales growth rate and find out whether you’re in positive or negative sales growth territory using this growth rate formula: In this formula, “y” is the net sales from your current period (i.e., New Incentives and Channels Creating new incentives is another great way of encouraging sales growth.

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OpenSymmetry

OCTOBER 30, 2017

These activities include territory and target setting, forecasting, approving commissions and bonuses and query management. SPM technologies like IBM Incentive Compensation Management empower Sales Leaders by providing real time pay for performance information.

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The Spiff Blog

JULY 14, 2022

This not only improves retention, but translates into a serious competitive advantage during the recruiting process. Modern day compensation plans and commission structures are complex, and dependent on things like seniority, territory, contract, or product hierarchy. Here are the three most important: 1.

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Salary Compensation Hiring Commission 73

The Spiff Blog

JUNE 16, 2022

And, data visualization tips you can use right away to immediately increase the impact of your sales incentive programs— without having to overhaul your entire system. The average worker can increase comprehension and retention by 50% using visuals ( source ). Data visualization tips to improve incentive programs immediately.

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Close.io

FEBRUARY 24, 2020

Sales operations is the team that plans and organizes rep operations, territory planning, lead generation, sales analytics, and more. Sales tool adoption : Whether it’s your CRM, sales enablement tools, calling and email tools, or anything else, measuring adoption will show you where your team needs more training or incentive.

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The Spiff Blog

APRIL 21, 2022

But it’s reasonable to expect more complexity as your organization expands to new products and territories. The key to reducing sales turnover is taking the right measures to proactively neutralize compensation issues— the biggest threat to retention on your sales team. Mitigating blips may be manageable with simple comp plans.

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Hiring Commission Compensation Churn 70

SBI

NOVEMBER 7, 2019

The result for global enterprises like IBM, American Express, PayPal, and Quest Diagnostics is better win rates, larger deals, and higher customer retention. Sales Incentives. Sales Incentives. Territory Optimization. Seismic is headquartered in San Diego with additional offices in North America, Europe, and Australia.

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