article thumbnail

Does Your Sales Incentive Plan Drive Customers Away?

SBI Growth

The purpose of every incentive compensation plan is to influence the actions of sales reps. Sales incentives can be like square pegs. Incentive compensation is intended to reward specific behaviors of the sales force. Here are some real-life examples of poorly designed incentives. Product Launch Incentive.

article thumbnail

10 Ways To Boost Your Sales Incentive Strategy

Sales and Marketing Management

Author: George Kriza, CEO, MTCPerformance Your organization wants to drive sales with an incentive program. Here are 10 of the most important elements in designing and deploying your next incentive campaign. Are they already in other incentive programs, or is yours the only one they’ll see? Gen X, Y or Boomer? How do they think?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How to Overcome Inconsistent Sales Rep Performance

SBI Growth

Most sales teams are composed of three groups: The Superstars – These gifted few need little oversight or incentive. Sales Leader Prospecting Account Segmentation Sales Enablement Sales Manager Sales Manager Resources' They are your A-players. They perform year in and year out. They have been blessed with the right DNA.

Segment 267
article thumbnail

4 Sales Ops Lessons from the NFL

SBI Growth

To do this right you have to conduct account segmentation. Incentive pay is a lever that must align with strategy. Suppose Rodgers was paid an incentive every time he threw an interception. Well, no different than paying incentives misaligned with your core strategy. Update the analysis annually and make adjustments.

article thumbnail

Maximizing Motivation: Why Well-Intentioned Incentive Programs Don’t Work and How to Improve Them

Sales and Marketing Management

While on the surface, this incentive strategy had some validity, the results were not what the company predicted, or wanted. Second, many of these performers were married and the idea of travel, even incentive travel, meant their families would be on their own for a few days.

article thumbnail

How to Compensate the Overlay Sales Specialist

SBI Growth

Improper incentive dynamics result in favoritism and defer full implementation of the new product or vertical market strategy. Solution: Incent overlay specialists to focus on both components: Participation – based on the percentage of supported reps that contribute. Key Take-Away Ideas.

article thumbnail

A Sales Leader’s Blueprint for 2014

SBI Growth

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.