Sales Hacker

OCTOBER 19, 2022

Sales compensation planning can be a tricky beast to tame — but know that you’re not alone. I asked 12 incredible sales leaders across the SaaS industry to share their biggest challenges with comp planning and how to overcome them. Related: New to sales compensation planning? Top 10 sales compensation challenges.

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Sales Hacker

OCTOBER 7, 2022

Scott Barton, Varicent’s VP of Industry Solutions & 20-year sales compensation industry pro, attended WorldatWork’s 2022 Sales Compensation Conference. Despite these advances, few industry pros currently use predictive or prescriptive analytics for determining sales compensation plan effectiveness.

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Drivers/motivators Quota Territory Sales 77

Sales Hacker

MARCH 30, 2023

If you’re new to sales (or don’t have an economics degree), decoding the sales compensation plan on offer can make your head spin. There are 3 key questions you must ask your hiring manager or recruiter when offered a sales role to maximize your earnings and career potential. You have two sales job offers — how to pick?

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Quota Sales Promote Commission 75

SaaStr

MAY 23, 2023

So leading growth stage VC Iconiq has published its latest and very detailed Definitive Guide to Sales Compensation here. Corners were cut in the boom times of 2021, but we are back to sane sales models. Renewals, if they are done by sales, are paid out at about 40% of an initial commission. CSMs Are Pushing Up to 20%.

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Commission Closing SQL Quota 103

Sales Hacker

APRIL 19, 2022

In this article, I’ll outline the principles of compensation design , how to build sales compensation plans , and include resources to set OTEs and quotas that keep your reps happy and hungry for more. Why Sales Comp Planning is Key to Rep Retention. Who should be responsible for sales compensation planning?

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Commission Product Quota Drivers/motivators 87

SaaStr

JUNE 8, 2023

Dear SaaStr: How Should I Design a Sales Reps Compensation Plan at Just $10k MRR ? Figuring out your very first sales comp plan when you don’t have a repeatable process or much revenue is confusing. but You don’t have the capital to invest here … the rep has to be accretive. Until … you enter a brand new space, a new initiative.

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Understanding the Sales Force

SEPTEMBER 17, 2021

Have you ever seen a compensation plan so complicated, so illogical and so detailed that all you could do was stare at it and wonder, WTF? Couldn't make heads or tails of it. The only way to figure it all out was to draw a table on the white board and start filling it in.

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Drivers/motivators Sales Service Sell 68

Miller Heiman Group

MAY 12, 2020

Two out of three sales reps are more concerned about their paycheck than catching the coronavirus, according to a recent survey that we conducted. Our second suggestion is to collect data, so you can be scientific in your approach to compensation decisions. Survey the sales landscape in your organization.

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Quota Finance Sales Represent 75

Hubspot

OCTOBER 16, 2017

Sales compensation is one of the trickiest aspects of the sales organization to get right. How to create a good sales comp plan. Sales comp plan types. Sales contests and SPIFs. How sales compensation should work. A sales compensation plan operates from a basic principle: Money drives behavior.

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Commission Quota X-functional Non-Profits 91

A Sales Guy

JULY 23, 2014

Note: This blog post is an excerpt from my new book: “Creating High Performance Sales Compensation Plans”. Some pay commission based on sales, while others only pay on margin; still others blend both with incentives and special bonus plans. Compensation plans shouldn’t be developed in a vacuum. Sizing It Up.

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Commission Quota Cold Call Sales 120

STAR Results

AUGUST 26, 2021

Sales Manager’s Success Checklist. It is far too early to look at sales early. Here are the top 10 questions you should ask yourself and your sales managers to gauge if you/they have set the foundation for success. If you want your sales team to perform and perform well, you need to give them the gift of focus.

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Salesfolks

MAY 6, 2024

Sales compensation is a pivotal element of a sales organization's success. It not only motivates sales professionals but also aligns their activities with the strategic goals of the business.

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Drivers/motivators Strategize Sales 59

Understanding the Sales Force

NOVEMBER 3, 2016

While doing that is always challenging, perhaps the biggest issue is how salespeople will respond to the impact this change has on their total compensation. That problem is the biggest reason why it is so important to create an effective compensation plan.

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Commission Territory Sales Prospecting 107

Understanding the Sales Force

APRIL 22, 2024

Over the past thirty-nine years, I have seen this at so many companies and with executives who believed they could apply DIY to any or all of the following ten functions: Evaluating their sales team – it is usually biased and limited to what they recognize as good.

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Drivers/motivators Construction Sales CRM 81

Understanding the Sales Force

FEBRUARY 12, 2015

Dave Kurlan sales compensation sales commissions social selling Top Sales World' Copyright: 123RF Stock Photo.

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Commission Sales Sell 105

Veloxy

DECEMBER 28, 2023

The world of sales is vast, and if you’re a sales professional, you’ve likely been exposed to both inside and outside sales roles. However, if you’re considering a transition to outside sales or simply want to elevate your field selling game, you’re in the right place.

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Selling Power

OCTOBER 14, 2019

Here are some of the sales compensation trends we’ve seen in recent years, and some best practices for building a high-performing compensation plan.

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Sales Drivers/motivators 56

Sales Hacker

DECEMBER 12, 2017

With increasing focus on grit and many claims of meritocracies in organizations across the country, why does variable pay compensation even exist? On top of that, why are sales people some of the few employees subject to variable compensation structures? What is Variable Pay Compensation Anyway?

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RAIN Group

MARCH 13, 2019

Sales compensation is typically the first topic discussed when looking for ways to boost sales motivation. Create a compensation plan focused on driving the actions that will create results. Want to increase motivation? Sounds simple, right?

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Drivers/motivators Sales Process Product 60

SalesLoft

OCTOBER 30, 2018

What would a 10 percent increase in annual sales mean to your organization? This is dollars left on the table due to ineffective processes for “defining, assigning, and managing territories, quotas, and incentives and compensation plans.”. Compensation plans need to evolve with organizational objectives and sales strategy.

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Understanding the Sales Force

AUGUST 13, 2013

Understanding the Sales Force by Dave Kurlan Sales candidates, especially good ones, are exponentially more difficult to attract than they were just two years ago. One of the reasons is compensation. True or False: The higher the compensation, the better. True or False: The higher the compensation, the better.

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Extrinsic Commission Intrinsic Drivers/motivators 107

Partners in Excellence

JULY 26, 2016

My last post inn this series was “ Super Hero Sales Managers.” ” I hesitated for a moment discussing this topic–sales compensation plans. I can barely scratch the surface on this topic, sales people, sales executives, and non sales executives invovled in compensation are likely to be unhappy.

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Commission Manufacturing Sales Engineering 49

Salesforce

MAY 14, 2024

A change of commission letter is a way for companies to give sales teams written notice about pay changes. This letter typically includes new plan structures and goals, payout schedules, equity compensation, termination clauses, and more. When should you use a change of commission letter?

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Commission Quota Represent Legal 52

Partners in Excellence

AUGUST 3, 2020

It’s becoming increasingly complicated to measure sales performance–particularly in complex B2B sales. I think we make the issue of measuring sales performance more complicated than it need be, because we confuse it with “compensating sales performance.” Who gets credit?

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Pipeline Quota Sales Negotiate 154

Veloxy

FEBRUARY 1, 2024

Measuring the right sales productivity metrics is crucial for any sales team looking to boost its performance. We’ll explore how these metrics can sharpen your sales strategy and improve efficiency. We’ll explore how these metrics can sharpen your sales strategy and improve efficiency.

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Product Quota Objectives and Key Results CRM 130

Engage Selling

APRIL 2, 2012

Countless commission structures fail despite the best intentions of sales leaders. More fail when sales managers don’t explain their plans properly. Before you know it, inside sales is battling with field sales, direct reps are at the throats of the channel team, and you’re caught in the middle of the fray.

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Commission Territory Sales Inside sales 79

SaaStr

APRIL 4, 2024

The post The Top 8 SaaStr Tips to Building an Effective First Sales Team (per Perplexity) appeared first on SaaStr. I think it did a pretty good job The summaries we do might be better, but this is a great place to start.

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Commission Drivers/motivators Sales Price 78

RAIN Group

MARCH 7, 2019

The topic most commonly discussed and linked to sales motivation is compensation. However, compensation is only one piece—often not the most important piece—of the sales motivation puzzle.

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Drivers/motivators Sales Product 40

Heinz Marketing

SEPTEMBER 17, 2021

Aligning your sales and marketing teams can be a daunting task , and one of the main hurdles to overcome is getting over the trust gap between sales and marketing. Many surveys have shown marketing and sales teams frequently don’t trust each other in their work. Tying compensation to marketing KPI performance.

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Trust Sales Lead generation Consult 130

SalesProInsider

APRIL 16, 2024

Be confident in your worth, request the compensation that you deserve, and don’t be swayed into discounts with promises or compliments. Financial Advisor sales training doesn’t have to focus on pushy tactics or high-pressure pitches. The post Discount Dilemmas: How to Stand Firm on Your Fee appeared first on Sales Pro Insider.

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SaaStr

MARCH 16, 2023

A rough structure from 1–25 sales reps: Early days: CEO acts as VP of Sales. CEO hires 2 reps, in the beginning, each barely pays for themselves, but by months 4–6 they are able to close 3x or more of their total compensation. CEO starts looking for true VP of Sales by $1m ARR, ideally hires one by $1m-$2m in ARR.

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Quota Sales Closing Customers 111

Salesforce

FEBRUARY 16, 2024

About 69% of sales professionals say selling is more difficult now than in previous years, according to Salesforce’s State of Sales report. To keep your sales team motivated when things are tough, you need to reward them for their victories. That’s where sales commission comes into play. The pressure is on.

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Commission Territory Quota Drivers/motivators 104

Sandler Training

AUGUST 29, 2019

In addition to the people in your company who deliver services and keep operations running, how much do you value the folks who bring in the most revenue, i.e. the top sales performers? Answering this question directly should be part of your overall business plan. Read Time: 6 Minutes.

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Understanding the Sales Force

APRIL 6, 2012

Understanding the Sales Force by Dave Kurlan The pros and cons of both commission-based sales positions and salaried positions have been well-documented, so we won't be discussing that in this article. Let's talk about something other than questioning which compensation plan is best for your company and its salespeople.

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Commission Sales Up-sell Closing 78

Membrain

NOVEMBER 3, 2021

Most sales trainers and coaches have at least some familiarity with the topics of productivity, motivation, and psychology. To keep salespeople motivated, organizations may bring in speakers, invest in strategic compensation structures, or hire coaches explicitly to keep their people on task.

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Understanding the Sales Force

MAY 6, 2015

It generated some heated discussion in the comments section and since there was disagreement about compensation in the comment section, I thought it would be helpful to discuss that.

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Commission Pipeline Sales 115

Sales Hacker

DECEMBER 19, 2022

As the president of Sales Xceleration, a firm specializing in assessing and implementing sales strategy , sales processes, and sales execution to drive growth, I’ve seen how job hopping can affect otherwise stable sales teams. Sales organizations experienced 58% higher voluntary turnover in 2021 than in 2020.

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