12 Types Of Commission Structures For Your Sales Team
If you ask a salesperson why they chose sales as a profession, many will say it’s because they love the face-to-face interactions with their customers. Some may say they simply believe in the product or service they’re selling. While that may be true for some, the reality is most salespeople love what they do because […]
FAQ: What Are The Pros and Cons of Straight Commission Plans?
At its core, an organization’s sales commission structure determines how much each individual sale will be worth to its salespeople. Sales leaders need to consider factors like how much budget they can allocate to commissions, how much they will pay for different levels of sales output, base salaries of employees, and any potential bonuses or […]
18 Sales Contest Ideas and Names to Motivate Your Team
When you think about sales competition, most people immediately imagine the greatest rewards will go to those with the highest sales. While that mindset is understandable, it may be somewhat shortsighted. Rewarding top performers will motivate them, but what about the rest of the team? What about those who work hard but know they won’t […]
10 SPIFF Program Examples to Boost Your Sales Performance
If the term “SPIFF program” is new to you, you’re not alone. So what is it, and does your business need one? SPIFF is an acronym that stands for: Sales Performance Incentive Fund. And if you caught that technically, this spells “SPIF,” you’re absolutely right. For some reason, an extra “f” is added to the […]
Volume Incentive Rebate Programs: Examples, Benefits & More
The bottom line of incentive programs can be summed up like this, “Incentives are aimed at behavior modification, plain and simple.” According to Ben Wider in his 2019 book, “Sweeten the Pot: How to Leverage Incentives and Rebates to Drive Loyalty and Increase Profits.” Earning 4.7 out of 5 stars, the book has 85% 5-star […]
What is a “Draw Against Commissions” in a Sales Rep Team?
The sales industry is filled with terminology and processes that can be difficult to understand, especially for new sales reps. One such term is “draw against commission,” a compensation structure used by many companies to pay their sales reps. In this blog post, we’ll take a closer look at draw against commissions, how they work, […]
OTE Guide: What is The “On-Target Earnings” Sales Model?
The “on-target earnings” (OTE) model is an increasingly popular sales model that has been adopted by many organizations. OTE is an attractive model for sales reps because it allows them to easily calculate their base salary based on achieving their designated quota. The OTE is calculated based on the quota or target number the sales […]
10 Sales Compensation Structure Examples and Why They Work
The world of sales is transforming with the advent of modern technology. Previously, sales were all about volume. The more sales calls you could make, the higher your sales figures would be. The push for volume-heavy sales calls led to the stereotyped salesperson who used pushy and high-pressure techniques where the word “no” doesn’t compute. […]
How to Build a Salesperson Recognition Program (With Examples)
We were curious to see if there is any way you can build a Salesperson Recognition Program that produces measurable and better results. It’s easy to find lots of statistics and information that employee recognition — sometimes called social recognition — is responsible for driving “workplace engagement, productivity, and employee retention.” All incredibly important benefits. […]
8 Real World Examples of Companies Using Incentive Programs
Incentive programs are a powerful way to keep your employees happy and motivated. When tuned properly, they can be a strong driving force for performance. Unfortunately, much of what is written about them online is based on hypotheticals, example situations, and unrealistic ideal conditions that aren’t common. Have you ever wanted to see how an […]