Did you know that companies with optimized territories experience an average 15% increase in sales revenue? This compelling figure underscores the critical role that territory management plays in driving sales success. Without a strategic approach, sales teams risk inefficiencies, customer overlap, and missed opportunities. Let’s dive into why effective sales territory planning is crucial, explore… Continue reading Best Practices for Territory Management in Sales Performance
Territory Management is the holy grail of any sales compensation program. This blog provides a step by step plan on how to get it right.
Territory Management is the holy grail of any sales compensation program. This blog provides a step by step plan on how to get it right.
How do you measure the success of a sales performance management (SPM) implementation? The conventional way is to compare the plan against the actual timelines and budget of your initial SPM implementation plan. In that scenario, if the project was completed on time and within budget, it is a success. The problem with this approach… Continue reading 10 Ways to Measure the Success of an SPM Implementation
You must be familiar with the term ‘Unintended Consequences.’ This concept not only holds the key to improving your sales performance but is also the root cause behind dramatic failures of seemingly well-designed incentive programs. To better understand, let us look at one of the most talked-about case studies about unintended consequences. The Cobra Effect … Continue reading Sales Compensation Plans: Beware of The Cobra Effect
Year-over-year (YoY) plan refreshes are a challenging time for Sales Compensation Administrators. Juggling the closure of the previous fiscal year alongside the deluge of plan changes, and timelines for the new fiscal year can be overwhelming. The ticking clock, coupled with uncertainties surrounding quotas, target variables, role changes, etc. often results in stress and sleepless nights for the… Continue reading Plan B, Do You Have One?
You’re probably thinking, ‘What’s this Concorde Problem, and how does it impact sales compensation? Let’s dive in…! Super Sonic Concorde Airplanes Concorde was the most advanced passenger airliner ever made. It could ferry passengers from New York to London in 3 hours, that’s half the time a Boeing 747 takes. With the pointy nose and… Continue reading Concorde Problem in Sales Compensation
When it comes to evaluating Sales Performance Management (SPM) software, such as CaptivateIQ, SAP, Varicent, or Xactly, going through a software demo is a pivotal step in the decision-making process. While demos offer a glimpse into the capabilities of the software, it’s essential to approach them strategically to sift through the marketing hype and make… Continue reading Navigating SPM Software Demos: What to Look for and How to Prepare
In the face of an economic downturn, it becomes imperative for sales compensation plan designers to adjust their incentive strategies to sustain the motivation and productivity of the sales team. In this post, we’ll explore some key strategies for adapting your sales incentive plans to prepare for the downturn. 1. Reviewing and adjusting sales targets… Continue reading Adapting Sales Incentive Plan for Economic downturn: Tips for Keeping Your Sales Team Motivated and Productive
You work for a fast-growing company with a vibrant sales organization. You feel good about the company’s performance, but when it comes to managing sales commissions – your commission operations team slogs within a pile of spreadsheets to prepare commission statements for every individual sales rep. Every month, your ops team and sales management deal… Continue reading Why Spreadsheet Don’t Work for Sales Compensation?
