Sales and Marketing Management

OCTOBER 29, 2018

You said you’ve built a lot of sales incentive programs as a manager, and, not to toot your own horn, but they have worked pretty darn well. With 20-plus years and more than 1,500 sales incentive programs under my belt, I’ve got some experience to share. Stop reps from coasting on their big accounts? So, why read this article?

Incentives 136

Incentives Incentive Lead Rank Lead Scoring 136

SBI Growth

OCTOBER 6, 2013

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". Accounts and territories are not methodically analyzed.

Compensation 293

Compensation Territories Incentives Incentive 293

Hubspot Sales

DECEMBER 29, 2021

Incentives are natural motivators — and sometimes, some "natural motivation" is exactly what your salespeople need to perform to the best of their abilities. That's why several companies leverage something known as incentive compensation : the practice of offering financial rewards for professional excellence. Annual Incentives.

Incentives 127

Incentives Incentive Compensation Commission 127

SBI Growth

OCTOBER 21, 2013

Additional inside sellers were brought in to manage small, transactional accounts. Digging deeper into accounts gets a higher share of wallet. Accounts had to be entered in both systems, which required double the reporting. Incentive Programs. Does your comp plan incent behaviors that will get you to your number?

Hiring 293

Hiring Ideal Customer Profile Margin Face-to-face 293

SBI Growth

SEPTEMBER 6, 2012

Caliber’s growth depended on retaining and penetrating top clients while converting relationships with key accounts. When defining a key target account list for your company, you have to know what the customer wants. Steve deployed a Key Account Management program that allowed Caliber to focus on big deal conversions. “We

Hiring 297

Hiring Penetration Demand Generation Targets Incentives 297

No More Cold Calling

JULY 25, 2024

While companies spend tons of money on client events, company celebrations, sales incentives, and work-life balance perks, many skimp on investing in building permanent, repeatable sales skills for their teams. And forward-thinking sales leaders ensure they do it, providing the coaching and accountability that’s necessary for success.

Referrals 334

Referrals Cold Calling Coaching Incentives 334

SBI Growth

JUNE 13, 2013

Consequences & Incentives. Similarly, reiterate incentives related to desired performance. Your team will be accountable and aware that the process is the new normal. Leaders continually identify opportunities to coach. Chip in across the entire organization for improved performance. Expectations and Feedback.

Incentives 314

Incentives Incentive Energy Motivation 314

Steven Rosen

MAY 28, 2014

But once the task required “even rudimentary cognitive skills” a larger incentive “ led to poorer performance”. Other studies have supported these findings yet sales leaders have continued to use higher incentives to drive performance. Set coaching metrics to hold them accountable. The higher the pay the better the performance.

Motivation 319

Motivation Incentives Incentive Coaching 319

SBI Growth

FEBRUARY 5, 2014

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. Here’s the two step process to that Managers and Reps follow in the first month: Step One : Complete a Territory Account Plan. How Important is Compensation?

Compensation 288

Compensation Territories Hiring Commission 288

Zoominfo

DECEMBER 17, 2020

Each sales person’s motivation is unique, and while the financial incentives motivate many, a President’s Club award that comes with recognition and a unique prize also provides motivation. I preserve that as a right for the account executive team. It motivates my team to get into the account executive team."

Incentives 234

Incentives Incentive Travel Motivation 234

No More Cold Calling

AUGUST 1, 2019

If sales managers hold their people accountable for the number of phone calls they make, emails they send, and invitations and InMails on LinkedIn, that’s how they’ll prospect. Put a referral system in place, with training, metrics, and accountability for results. Forget about incentives. I’ve said before, and I’ll say it again.

Referrals 289

Referrals System Cold Calling Social Media 289

Salesmate

JUNE 4, 2021

One such practice is that of providing sales incentives to the salespeople. What are sales incentives? Call it what you will, incentives are what get people to work harder.” – Nikita Khrushchev . In simple terms, sales incentives are something that motivates your team to wake up in the morning and get to work.

Incentives 105

Incentives Incentive Compensation Motivation 105

SBI Growth

OCTOBER 17, 2012

Start with these 2 ways: Hold marketing accountable by tracking key metrics of the online ad campaigns that fill the funnel. Hold sales accountable by tracking how quickly sales reps respond to online-generated leads. Hold Marketing accountable. Hold Sales accountable. You already know you can influence marketing.

Top of Funnel 293

Top of Funnel Funnel Sales Operations Ideal Customer Profile 293

The Pipeline

JULY 16, 2012

Not surprisingly, the organizations that have addressed the issue are usually led by very engaged and involved leadership, regularly interacting with the front line and joining them on customer calls on a regular basis, not just when it is time to save accounts. Failing this, all too often money is left on the table.

Referrals 324

Referrals Lead Rank Lead Scoring Territories 324

Sales and Marketing Management

DECEMBER 28, 2017

By all accounts, Wiggins, a fourth-year pro, has world-class talent, but has yet to put a complete game together. Bill Bartlett, author of “The Sales Coach’s Playbook: Breaking the Performance Code,” went even further, expressing his disdain for short-term incentives. Van Gundy didn’t pause. Hire motivated salespeople,” he exclaims. “If

Motivation 225

Motivation Coaching Hiring Incentives 225

SBI Growth

JANUARY 5, 2014

Resolutions are all about setting challenging goals and holding yourself accountable to achieve them. A-players – Incent them more and put them in your best territories. Are you giving your reps a list of accounts and telling them to ‘have at it’? Partner with a colleague to hold you accountable to your personal goals.

Sales Management 310

Sales Management Face-to-face Decision Maker Travel 310

SBI Growth

MARCH 4, 2013

Dig in to these questions to be sure: Process issues: Do recruiter incentives include speed to fill or low vacancy metrics? Profile issues: Does the profile for this Rep position include expected accountabilities AND required competencies? Are Sales Managers held accountable for the use of the onboarding program?

Hiring 326

Hiring Outsourcing Services Lead Nurturing Demand Generation 326

SBI Growth

NOVEMBER 15, 2013

Have they leveraged their network to create referrals within new logo accounts? Incent them correctly and you get what you want. Mis-align incentives and you get nothing. The audit will confirm that your hypothesis is valid. The sales team is not evolving at the pace of marketing. Getting the Most from Sales Cavemen. You should.

Sales Qualified Lead 312

Sales Qualified Lead Ideal Customer Profile Referrals Incentives 312

The Pipeline

FEBRUARY 6, 2018

In sales, your mindset is highly correlated to an individual’s willingness (at times ability) to be accountable for their actions and results. The other correlation is the paradoxical nature of both accountability and mindset.

Coaching 247

Coaching Lead Rank Incentives Incentive 247

The Pipeline

OCTOBER 9, 2014

Not unusual to have a three year plan, but they also tie the development plan to three years, along with targets, incentive and what I and my peers bring to the table. Their growth plan is to go form the current revenue $350 million to $1.8 billion, three years. Their cost is not greater, it is just amortized, differently. Tibor Shanto .

Government 296

Government Face-to-face Incentives Incentive 296

Sales and Marketing Management

MARCH 5, 2020

It’s no secret that by setting effective sales incentives and pay structures you can dramatically increase your team’s success rate. Each team member is motivated by different incentives, the magazine says: Stars seem to knock down any target that stands in their way, but may stop working if a ceiling is imposed. The takeaway here?

Incentives 204

Incentives Incentive Commission How To 204

Steven Rosen

OCTOBER 8, 2021

A sales rep can be motivated to land a big account but not motivated to hand in their paperwork on time. incentive programs and contests) creates a vicious cycle of having to top the last program. Our salespeople have many goals, and we would like to ensure that they are motivated to attain all their key objectives.

Motivation 379

Motivation Commission Incentives Incentive 379

Crunchbase

APRIL 6, 2023

When it comes to keeping sales reps happy and quotas attained, what worked over the past few years is no longer working One solution is the introduction of a sales incentive program that encourages reps to work toward a goal and receive recognition. The key to selecting the perfect one?

Incentives 98

Incentives Incentive Hiring Top of Funnel 98

SBI Growth

DECEMBER 29, 2013

If you can’t hit it, you’re not getting the incentive pay promised. No historical performance, account penetration, or product maturity calculated in quota. This is contingent on how accurately the quota is set. Red Flags: Big gap between performance and quota. Pie-in-the-sky market share figures determines quota.

Quota 310

Quota Penetration Incentives Incentive 310

SBI Growth

SEPTEMBER 30, 2013

It’s simply an account/contact and activity database. No Accountability: Any initiative within the sales organization starts at the top. Build incentives and consequences into adoption. The Rolodex tool: Customer contact information is entered, but opportunities are sparse. Then when the deal closes, they enter it.

System 303

System CRM Compensation Pipeline 303

SBI

JUNE 5, 2019

Transforming Sales: How Engaged Accounts Can be Known and Then Treated More Effectively. Additionally, we see people using technology to better surface and understand their actual engagement with target accounts – using AI and other analytics. This week I interview John Steinert , Chief Marketing Officer of TechTarget.

Account 135

Account Scale Ideal Customer Profile Intent Data 135

Sales and Marketing Management

DECEMBER 26, 2018

In my work with sales executives from corporations large and small, I repeatedly see that team rewards are easily overlooked in favor of individual incentives. And while individual incentives are critical to the success of any sales organization, most companies are not fully invested in supporting the team environment.

Incentives 191

Incentives Incentive Google Account 191

Understanding the Sales Force

NOVEMBER 15, 2024

I devised an incentive. Incentives work. However, when there is very little incentive for bringing in new business, salespeople whose compensation plans are all or mostly salary, won’t do it for long. That was a pretty optimistic thought for a realist like me! Jack’s eyes lit up. .”

Prospecting 177

Prospecting Incentives Incentive Cold Calling 177

No More Cold Calling

SEPTEMBER 21, 2017

It’s sneakier than gender discrimination or racial prejudice of old, but just as damaging for careers, relationship-building opportunities, and account based sales teams. The more women in account based sales understand the technology they sell, the more credibility they bring into client engagements. Comments were prolific.

Cold Calling 266

Cold Calling Loyalty Account Intent 266

The Pipeline

AUGUST 14, 2014

” It doesn’t help when sales leaders are incented on meeting KPI’s rather than result. I hear reps say “well I delivered against the KPI, I got eight meetings every week this quarter.” Or “what do you want me to do, get sales or complete the KPI’s you gave me?” What’s in Your Pipeline? Tibor Shanto .

Workbooks 288

Workbooks Distribution Incentives Incentive 288

SBI Growth

FEBRUARY 28, 2013

Compensation Plan : Did they change their compensation plan incenting more new business vs. account development? We chose these: Sales Process : We wanted to get our hands on their sales process. Did they recently deploy one and was it more customer-centric than ours? Is this new compensation plan attracting more talented sales reps?

Outsourcing Services 300

Outsourcing Services Ideal Customer Profile Territories Compensation 300

Sales and Marketing Management

MAY 31, 2020

For example, incentives may shift to include focus on existing customers instead of net new sales and also could move towards a discretionary model with subjective KPIS rather than a formulaic commission driven plan. After all, an incentive plan cannot motivate employees if it is too complex for them to understand.

Motivation 194

Motivation Compensation Commission Incentives 194

SBI Growth

SEPTEMBER 23, 2013

Change the compensation plan to incent new logo growth by adding an accelerator. Account Segmentation—Steve had not defined the size of the market. Reduce turnover from 33% to 20% (had an unfortunate spike this year). Steve told us he was going to build 3 elements into his plan for 2014. Sales training. Steve’s new plan.

Compensation 325

Compensation Social Media Incentives Incentive 325

No More Cold Calling

JANUARY 16, 2020

It’s a lonely world for account executives. Above all, your job is to get the rocks out of the road for your salespeople—your account executives and everyone on your sales team—so they can do what they were hired to do: Sell! All of us perform our best when we are accountable and have the tools to succeed. Sound familiar?

Referrals 328

Referrals Sales Management Hiring Scale 328

SBI Growth

SEPTEMBER 26, 2012

Account management or customer service resources. Offer a small incentive for closing these deals in Q4 (cash is always good). Visit the top deals with your reps. Let them lead the conversation. Provide reassurance that you will deliver on the promise. Introduce Other Resources. Introduce the service or implementation team.

Closing 303

Closing Lead Scoring Lead Rank Customer 303

Steven Rosen

JANUARY 26, 2014

A sales rep can be motivated to land a big account but not motivated to hand in his paperwork on time. incentive programs and contests) it creates a vicious cycle of having to top the last program. Our sales people have many goals and we would like to ensure that they are motivated to attain all their key goals.

Motivation 288

Motivation Commission Incentives Incentive 288

No More Cold Calling

APRIL 20, 2017

It was my job as an account exec to follow up with these executives. I tried coaching, I tried demonstrating, and I tried setting goals and incentives. Each year, sales call reluctance single-handedly accounts for over half of all failures in one of the largest professions in the world.”. Prospecting Creates the Same Fear Today.

Cold Calling 249

Cold Calling Referrals Sales Qualified Lead Promotion 249