Incentive Program FAQs

Sales and Marketing Management

Q: Why not use quota as a bar to require reps to pass before they’re eligible to earn in the incentive program? Q: Why should I, as the sales manager, have a goal? Isn’t my objective to grow sales or meet the numbers handed down to me from senior leadership?

Sales Planning Fundamentals Part Four: Territory Planning

Xactly

This the fourth blog in a series of sales planning fundamentals being written by Xactly Chief Sales Officer Marc Gemassmer. So far, in my blog series on sales planning, we’ve looked at: Part one: Adopting the right sales planning approach. Sales Planning Territory Design

The Territory Optimization Revolution

OpenSymmetry

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. New Concepts Driving Greater Performance .

Calculating the ‘Just Right’ Value for Incentives

Sales and Marketing Management

Author: Tim Houlihan Most incentives are paid out between 3 and 10 percent of the income earned during the incentive period. Matching Incentive to Your Corporate Culture. Track Incentive Results. The same rigor must be applied to your incentives.

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 Tips for Designing Successful Sales Incentive Compensation Plans

Xactly

Few leading indicators are more predictive of a company’s future sales performance than its incentive compensation plans. While multiple factors influence the effectiveness of your sales incentive compensation plans, 5 tips stand out: 1.

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.

How to Optimize Sale Territories for a Strategic Advantage

Xactly

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. The Effect of Bad Territory Planning on Sales Performance.

The power of incentive programs lies in their structure

Sales and Marketing Management

Author: Tim Houlihan The best incentives have open budgets, meaning anyone who qualifies can win. Open budgets tend to lead to improved morale due to the general ability for reps to feel like they have a chance at winning and that will lead to more sales. based sales forces.

How to Design a Sales Manager Compensation Plan (With Examples)

Xactly

When it comes to sales compensation planning, you can never start prepping too early, right? One of the most important things to consider when designing plans are the different roles on your sales team. Constructing Commissions in a Sales Manager Compensation Plan.

3 Reasons to Drop Manual Sales Territory Planning for Good

Xactly

When it comes to sales performance management (SPM) functions, the difference between “nice to have” and “need to have” can seem difficult to determine. Sure, you know you need ICM to handle accurate and timely payments, but do you really need automated sales territory planning as well?

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.

Get Promoted to Sales Management (Advice from 17 Experts)

Sales Hacker

Are you in sales and looking to get promoted into management? Now, look at his advice: To become a sales manager, you essentially need to become an extension of your HR team — something every employee can do to make a positive impact on the organization.

7 skills you’ll need to become a sales manager

Close.io

So you want to become a sales manager ? First you’ll need to make sure you’ve got the right skills, experience, drive and track record at the helm in both selling and at managing others—in order to back yourself up. First and foremost, what exactly is a sales manager?

Designing Sales Compensation Plans for Sales Managers (With Examples)

Xactly

When it comes to sales compensation planning, you can never start prepping too early, right? One of the most important things to consider when designing plans are the different roles on your sales team. Constructing the Commission Plan for Sales Managers: Pay Mix and Upside.

Why You Can't Fill Your Open Sales Manager Positions

Sales Benchmark Index

A post for Sales and HR Leaders to find root causes of Sales Manager (SM) vacancies. The Sales Manager position is the fulcrum between sales leadership strategy and sales force execution. Weak sales strategy. Poor territory.

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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The Sales Manager New Year’s Resolution: 3 Do’s & 3 Don'ts

Sales Benchmark Index

Each recommendation addresses the biggest obstacles every sales manager faces to making the number: Not enough ‘A’ players on the team. Every sales manager is time starved. Sales Managers should be spending 75% of their time coaching their team.

Sales Managers Only Have One Real Goal!

Partners in Excellence

There’s a lot of stuff written about what sales managers have to do and their key job responsibilities. There lots of ways we see managers behaving. Some seem to think they have to be super sales people–the person that comes in to close the deal.

Sales Management SOP

Partners in Excellence

The other day I wrote about the “Almost Perfect Sales Management Article.” ” That post stimulated a flurry of questions about a Sales Management Standard Operating Process/System. There are a few key building blocks to the Sales Management/Leadership Process. Overall Sales Strategy. Business Management. People: This category focuses on getting and developing the right people in place to execute the sales strategies.

7 Leadership Interview Questions to Ask a Sales Manager Candidate

Hubspot Sales

The jump from salesperson to sales manager is extremely challenging. A manager has an entirely different job: Leading, inspiring, coaching, and training a team. Some managers are hands off. It’s detailed, authentic, and foreshadows how she’d act as a manager.

ACT 99

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.

Sales Compensation Planning: Everything to Consider in 2019

Xactly

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. Enter sales compensation planning.

The 12 Step Compensation Plan Design Process

Xactly

As part of the effort to make plan design easier, here are a few thoughts on the process (and a few other sales plan ideas too): 1. Are you an Xactly Insights customer using empirical data to benchmark your incentive compensation? Oh yeah, add to #8 a common sales troublemaker.

Sales Tips: 3 Do's and Don'ts for the Sales Manager

Customer Centric Selling

Sales Training Article: The Sales Manager''s New Year''s Resolutions. By George De Los Reyes, Sales Benchmark Index (SBI) I am big on New Year''s resolutions. Every sales manager is time starved. POST-SALES SUPPORT Stop the role corruption.

Here’s What Every Business Should Know about Multi-Channel Sales Management

Cincom Smart Selling

In many ways, managing multiple sales channels is like climbing that mountain—it looks easy until you really get into the process, and then the challenges and difficulties become all too apparent. I don’t know how many times I’ve heard marketing folks declare during a midyear progress meeting that the sales numbers for that year can still be made, we just need to open up an indirect channel. You Need Channel Management. Effective channel management doesn’t just happen.

Sales Performance Management: Not Your Parent’s Compensation Calculator

OpenSymmetry

Sales Performance Management (SPM) has truly evolved over the last 10+ years from the days of having an on-premise solution that primarily automated the compensation calculation process with basic reporting, to a new dynamic frontier with extended capabilities.

Overcoming “Failure to Impact” Syndrome

Steven Rosen

This year was tough; next year’s sales prospects look even tougher. Your boss comes to you and says how can you sustain the sales force? Hire only top sales reps. Create a better incentive plan. Do your sales reps make impact on each call?

Remedy 173

Why Your Sales Contest is Demotivating Your Sales Team (& How to Fix It)

Sales Hacker

Walk into any sales office, and you’ll probably find a sales manager running some sort of contest to motivate their team to increase productivity. You probably won’t find any two sales contests exactly the same, either. What Are the Top Sales Contest Mistakes?

10 Sales Statistics You Should Know in 2019

Xactly

Sales statistics are a variety of metrics that provide insight into your sales organization’s health. Industry and planning-specific statistics also help guide sales planning and incentive compensation. 10 Sales Statistics for Better Planning.

How to Motivate a Sales Team to Improve Each Rep’s Performance (3 “Types” and 12 Tips)

Sales Hacker

Do all the research you want… Implement all the bright-shiny strategies you can think of to get sales reps excited about their roles and success…. Clearly, new strategies alone aren’t enough to motivate a sales team. Sure, these are all key motivators for your sales reps.

Transforming Enterprise Sales Organizations With AI/ML

Xactly

Sales compensation is vital to sales success and company growth. For decades, companies have gathered different tools to manage compensation. It is quickly transforming due to a variety of software tools aimed at helping improve day-to-day execution of the sales process.

Is Your Compensation Program Missing the SPM Boat?

Xactly

When Xactly was founded more than 13 years ago , the company had a simple vision to democratize incentive compensation management and put powerful calculation tools in the hands of every company. One often missed opportunity in the planning equation is optimizing territory planning.

How to Develop a Sales Compensation Plan (with Templates)

Xactly

Creating sales compensation plans is a challenging task—it’s all about balance, but sometimes the perfect balance can be hard to strike. You need your incentives to drive the right sales behaviors in order to achieve sales objectives. Sales Comp Sales Planning

Your Sales Year is Coming to an End. Are you ready?

InsightSquared

December around the corner also means your sales year is coming to an end. Therefore, it’s important to manage your time and plan accordingly. So, as a sales leader or manager, what do you do? Don’t forget Q1 in terms of your go-forward sales plan.

Presidents Club Winner…NOT

Steven Rosen

Many companies run Presidents Club, STAR Club and Summit programs to reward and recognise their top sales performers. In building a Top Performers Program, sales management needs to decide what they want to reward. Many companies I work with tie their program to sales vs. objectives. For this to work effectively, quotas need to be set fairly against both large and small territories. You then repeat the same process for sales dollars over quota.

Quota 224

Pay For Performance

Partners in Excellence

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.

The Ins & Outs of Variable Pay Compensation Structure for Sales Teams

Sales Hacker

On top of that, why are sales people some of the few employees subject to variable compensation structures? I wish I could say it’s all about incentives, but the truth is a bit more nuanced than that. Queue the picture of the stereotypical sales person on stage with a massive check.

Whose Job Are You Doing?

Partners in Excellence

The post, Your #1 Priority As A Sales Manager (Plus 3 Things To Stop Doing) is brilliant. One quote stands out: “Your job as the sales leader is to ensure your sales team produces results, not do the work!” You know those types of managers.

Top 20 Sales & Marketing Vendors to Follow on Twitter @Dreamforce ’14

Smart Selling Tools

More than 1400 sessions, more than 350 exhibitors, 18 keynotes, 20 parties, 2 rock concerts, and 5 opportunities to help charities on site, there is perhaps no bigger event for sales and marketers. Integrate your CRM, webinar management and more, most with one click. Fantasy Sales Team.