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 .

7 Steps to a Quota-Busting Sales Force

Sales Benchmark Index

Article Sales Strategy allocate territories incentive plan lead nurturing maximize selling time quota busting sales quota talent development

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Trending Sources

Sales Incentive Optimization

OpenSymmetry

The Journey to Sales Incentive Optimization. Territories have been arbitrarily changed and accounts reallocated so that Account Managers have to spend the first quarter getting to know new customers, so undermining their ability to hit target. Sales Incentive Design.

Optimal Incentive Compensation Plan Design for Successful Implementation

OpenSymmetry

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. Then add onto that any charge backs or adjustments for territory changes.

Part II The Territory & Quota Management Revolution

OpenSymmetry

The Territory & Quota Management Revolution – New Incentive Compensation Platforms Blazing the Trails to Greater Efficiencies. Fast forward 20 – 30 years to the age of enlightenment for Incentive Compensation Management solutions. Territory Definition and Modeling.

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

OpenSymmetry

Each salesperson is assigned a territory, a quota, and they “go forth and sell”, right? We also took a look at pay mix, which splits TTCC into two components: base salary and target incentive amount.

Five Keys to Accelerated Lead to Money

OpenSymmetry

Territory and Quota Solutions. Incentive Compensation Management. As someone that works in the world of Marketing, I have seen first hand that marketing and sales working together can sometimes be like trying to mix oil and water.

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Why Automate Sales Compensation Management

OpenSymmetry

The need to automate territory and quota management will be driven by the dependency of the incentive plan on more complex quota setting and territory alignment challenges.

A Forthcoming Shift of Pharmaceutical Sales Compensation Plans?

OpenSymmetry

Tactics may have changed, but for the most part these sales teams still run on a commission or quota based metric determined by well-planned territories. In some cases, incentive compensation (IC) methods have evolved to align with new regulations regarding specific sales metrics.

A Forthcoming Shift of Pharmaceutical Sales Compensation Plans?

OpenSymmetry

Tactics may have changed, but for the most part these sales teams still run on a commission or quota based metric determined by well-planned territories. In some cases, incentive compensation (IC) methods have evolved to align with new regulations regarding specific sales metrics. Christopher Bowe, a CEO healthcare industry adviser, suggests the opioid overdose crisis that has impacted prescribers since the 90s may have been the result of a fractured incentive compensation system.

Sales Performance Management: Not Your Parent’s Compensation Calculator

OpenSymmetry

We have been ushered through the age of Incentive Compensation Management (ICM) being the buzzword 4 to 5 years ago into an age of where the focus is now on the performance.

Finding the Right Sales Performance Management Vendor

OpenSymmetry

This year’s edition features organizations that expand across the broad spectrum of the SPM and Incentive Compensation Management (ICM) continuum and offers options to help provide transparency across the entire organization for sales related processes. Territory and Quota Management.

Calculating the ‘Just Right’ Value for Incentives

Sales and Marketing

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.

Calculating the ‘Just Right’ Value for Incentives

Sales and Marketing

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.

4 Sales Ops Lessons from the NFL

Sales Benchmark Index

Territories : The field of play. Are territories designed to maximize growth balanced with efficiency? Are you holding back performance based on territory design and assignment? Give your very best reps the very worst sales territories and suffer the consequences.

The 13 Least Known Sales Technologies

Velocify

4) Territory and Quota Management Solutions. Territory and quota management solutions assign leads to reps based on geographic areas. 6) Incentives and Commissions.

11 Sales Compensation Complaints to Address Before Next Year

Sales Benchmark Index

Surely something is wrong besides the new incentive compensation. Incentive targets are linked in a competitive fashion, not on my own improvement. Some firms may use competitive ranking for parts of incentive compensation, or for the illustrious "President''s Club".

10-Point Inspection for Top Sales Performance

Sales Benchmark Index

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. Step Two : Calculate personal income based on executing the Territory Account Plan. January is over.

SalesGlobe Expands Sales Performance Management Solutions with OpenSymmetry Partnership

OpenSymmetry

Expanding upon SalesGlobe ’s sales incentive design, territory and segmentation, and quota methodology practices, a new partnership with OpenSymmetry will allow us to help clients make the most out of a sales performance management solution.

[Webinar wrap-up] 5 Keys to Accelerated Lead to Money

OpenSymmetry

Establish Quotas and Territories to Measure Performance: By defining a territory as a set of accounts within a certain industry and size, you establish which products are sold and how to set quota.

Sales Operations Demystified: What It Is, Why It Matters, and How To Do It Right

Sales Hacker

Formulation of Incentives Program. Sales Territory Assignment and Growth Forecasting. Implementation of Recommended Compensation and Incentives Program. Allocation of Accounts and Sales Territories. Territory design. Implement compensation and incentives program.

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Presidents Club Winner…NOT

Steven Rosen

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. By using percentage to quota they give smaller less developed territories a distinct advantage in rising to the top. Potentially this may be a problem, for when a new rep comes into a territory all of a sudden they are a top performer.

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Creating the Ideal Performance Culture

Sales Benchmark Index

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? Success is based 50% on talent and 50% on performance conditions.

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

Sales Hacker

I wish I could say it’s all about incentives, but the truth is a bit more nuanced than that. Determine Additional Incentives (With Caution). You should really pick one metric like revenue vs trying to incentive multiple high level metrics. Have a cool new incentive to test?

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How to Assess and Sequence Your Sales Initiatives

Sales Benchmark Index

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. A few weeks ago, I was talking to an SVP of sales. The topic was his number.

Will These 6 Tests Save 2013’s Sales Compensation Plan?

Sales Benchmark Index

But wait – this new incentive compensation plan could flop. So, he commissioned HR to design a new incentive compensation plan (IC Plan.) Maybe a change to the IC plan calls for Reps to focus on top accounts in their territories.

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.

How to Create a Sales Plan: The Ultimate Guide

Hubspot Sales

If you have territories, assign a sub-goal to each. Do you have a budget for sales contests and incentives? What’s a sales plan? A sales plan lays out your objectives, high-level tactics, target audience, and potential obstacles.

How to Find Out What Your Competitors Are Doing That You Are Not

Sales Benchmark Index

Compensation Plan : Did they change their compensation plan incenting more new business vs. account development? Territory Design : Have they realigned territories putting their best people where the most market demand is?

Sales Managers Only Have One Real Goal!

Partners in Excellence

” Actually not, unless the sales manager has a personal territory, the only way the number can be achieved is through the people on the team. These include, making sure we have the right people on board, that they are deployed in the territory most effectively.

Smart Selling Visions: Up-Close with Top Revenue Leader Leslie Stretch of @CallidusCloud

Smart Selling Tools

We enable organizations to accelerate and maximize their lead to money process by identifying the right leads, ensuring proper territory and quota distribution, enabling sales forces, automating quote and proposal generation, and streamlining sales compensation.

Is Your Sales Compensation Driving the Right Behaviors?

Sales Benchmark Index

Did it incent the right behavior? How do you know if comp-incented behaviors can move the needle? Territory potential and/or Quota calculated incorrectly. It's a critical time of year for sales compensation. New plans were rolled out at the January kickoff.

A Sales Leader’s Blueprint for 2014

Sales Benchmark Index

Territory design, quotas and compensation plans. Change the compensation plan to incent new logo growth by adding an accelerator. Your Sales Strategy. It is one thing to have a sales strategy. It is entirely different to have one you and your team can execute.

Why You Can't Fill Your Open Sales Manager Positions

Sales Benchmark Index

Part of the poor compensation may be the inability/difficulty to achieve incentives. Poor territory. A post for Sales and HR Leaders to find root causes of Sales Manager (SM) vacancies.

Change The Candidate – Not The Rules!

The Pipeline

We have seen organizations change the rules, incentives, quotas or other things, mid stream, just to accommodate an underperforming rep, or asset. By Tibor Shanto – tibor.shanto@sellbetter.ca .

Smart Selling Visions: Up-Close with Top Revenue Leader K.V. Rao, CEO of @AvisoInc

Smart Selling Tools

Incentive compensation and territory assignment plans are becoming more sophisticated to take into account this longer term view of the account. This post is part of a series of Executive Interviews of top sales and marketing solutions company executives.

3 Reasons Why Thinking-Outside-the-Box is Harmful to Sales Productivity

Smart Selling Tools

You can over-complicate matters and end up with under-performing reps or territories. Think outside the box. Outmaneuver and outsmart. Outfox and outwit. In our zeal to out -shine the competition there’s a lot of pressure to outdo yourself.

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

Sales Benchmark Index

A-players – Incent them more and put them in your best territories. I am big on New Year’s resolutions. It’s a great opportunity to challenge yourself to grow, both personally and professionally.

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How to Avoid Wasting Money on a Compensation Assessment

Sales Benchmark Index

Software Firm: The annual Employee survey is overflowing with negative comments about the incentive plan. Here is what a complete assessment uncovered: Heavy Equipment Company: A territory design and organizational structure problem was the root cause. Incentive compensation is specialized enough that it requires help from a third party expert. The actions you take to solve incentive compensation challenges today will have a powerful impact on your success in 2013.

3 Reasons Why Thinking-Outside-the-Box is Harmful to Sales Productivity

Smart Selling Tools

You can over-complicate matters and end up with under-performing reps or territories. Think outside the box. Outmaneuver and outsmart. Outfox and outwit. In our zeal to out -shine the competition there’s a lot of pressure to outdo yourself.