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 […]
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 […]
Incentivized Training: How It Can Maximize Your Sales Potential
When you hear that the average organization spent over $2,000 a year on training each sales team member last year, you would assume they know what they’re doing. And with a total of more than $70 billion spent each year, it does seem axiomatic that “good training….increase[s] performance and sales. Academic Research in Action certainly […]
Enhancing Incentive Compensation and Strategies for Pharma Sales Teams
Pharma sales is a tricky industry to manage. It’s regulated, in that many forms of advertising are either restricted or tightly controlled, which can put a damper on many of the usual strategies a sales team might use. Nevertheless, pharmaceutical companies want their sales teams to be as effective as possible. A common way to […]
How to Optimize Your Sales Commission Rates by Industry
How to Optimize Your Sales Commission Rates by Industry The last few years have seen a nearly unprecedented shift in the labor markets. The “Great Resignation,” a push for unionization and stronger labor rights protections, and other factors have led to many formerly-solvent companies struggling to retain employees. One of the more challenging areas is […]
SPIFF Incentives: What Are They and How Can You Use Them?
SPIFF Incentives: What Are They and How Can You Use Them? Businesses rely on sales to survive; it’s just how commerce works. To make sales, you need a sales team. A good sales team is motivated and incentivized to make as many sales as possible, with as much lasting loyalty and support as possible. As […]
Rebate Programs: How They Work and The Pros & Cons
Rebate Programs: How They Work and The Pros & Cons You’ve likely heard of rebates before, but whether what you’ve heard is positive or negative is up in the air. Some people love rebates; others have had nothing but negative experiences claiming them and are inherently skeptical. Rebates can be a powerful incentive for encouraging […]
[Guide] What is Sales Gamification and Does It Work?
If you’ve paid any attention to marketing or business over the last decade, you’ve probably heard the phrase “gamification” thrown around. These days, it has worked its way into nearly everything, including sales. Sales gamification refers to the practice of taking aspects of game design and applying them to the sales process. There are two […]
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 […]
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. […]
