MGMT494-SALES COMPENSATION
•
0 likes•64 views
This document proposes a new sales compensation plan for Ammeter Technologies. It discusses Ammeter's current profit margin plan and why it is not effective. It evaluates other compensation systems like straight salary, commission only, and territory plans but recommends a salary plus commission plan. This new plan would provide guaranteed compensation through salary while also incentivizing performance through higher commission rates tied to seniority. The document outlines how to communicate this new plan to the sales force.
Report
Share
Report
Share
Download to read offline
Recommended
MGMT 494-Team based pay and incentives
Team-based pay can increase productivity, efficiency, and company profitability while strengthening bonds among employees. However, it may lead to teams competing too much or some employees doing all the work. To avoid these negatives, companies should implement fair compensation, set common goals, define team roles, and add incentives to base pay like sales commission, bonuses, and employee stock options. The document recommends Ammeter Inc. adopt team-based pay with added incentives to motivate their medical supplies sales teams.
MGMT 494- Pay Transparency
Pay transparency refers to the visibility of a company's compensation system and can vary in its degree. While pay transparency was historically seen as taboo and can increase administrative work, it provides several key benefits like increased communication, collaboration, and legal defense for employers. It also benefits employees through increased motivation and productivity. The document recommends that companies begin systematically implementing elements of pay transparency to realize these advantages over maintaining secrecy.
Pricex 2008
Introduction to our book "Pricing With Confidence: Ten Ways to Stop Leaving Money on the Table"
How to create a SaaS sales compensation plan.
The document provides tips for creating a sales compensation plan for a SaaS company. It recommends determining on-target earnings for the sales team based on market norms and a split between base salary and commissions. It also suggests including incentives and bonuses to encourage competition and goal achievement. Additionally, it advises considering all details like commission rates, experience levels, and strategically incentivizing desired sales outcomes. The document stresses keeping the plan simple and remembering that incentives will drive desired sales behaviors.
Affinion ABG vs. Membership contest
The document summarizes an incentive contest run by Affinion to improve retention performance. It aimed to capitalize on previous successful performance by targeting managers and directors instead of sales agents. The simple contest compared retention improvement between business units, applying a penalty for poor quality assurance scores. It resulted in improved retention numbers for the winning team and generated over $80,000 in revenue at a very low cost, delivering a strong return on investment.
18 Keys to Business Success
Focus on employee engagement and customer satisfaction. Pay sales employees a commission of 40-50% and adjust commission rates based on product profitability. Raise prices gradually over time to increase profits while maintaining goodwill. Benchmark marketing, sales, and employee engagement metrics to optimize returns on investment.
Implementing a Sales Compensation Program
This document provides an overview of introducing a sales compensation program to an organization. It discusses engaging key stakeholders, key design considerations like salary/incentive splits and performance measures, transition considerations, developing a pilot program, and preparing to administer the plan. The presentation agenda includes are you ready for a sales comp plan, engaging stakeholders, design considerations, transition, pilot program, and administration. The document also provides a case study example of a company that implemented a sales compensation plan.
sales managers kester
This document outlines best practices for top sales managers. It recommends that sales managers build a first-rate sales team, clearly define individual goals for new business and measure results against goals. It also suggests that sales managers should manage performances through one-on-one conversations, recognize top performers and challenge struggling reps. Sales meetings should focus on sales results, success stories and best practices. Sales managers should also coach and mentor their teams through results-focused coaching, removing obstacles and visiting top accounts together.
Recommended
MGMT 494-Team based pay and incentives
Team-based pay can increase productivity, efficiency, and company profitability while strengthening bonds among employees. However, it may lead to teams competing too much or some employees doing all the work. To avoid these negatives, companies should implement fair compensation, set common goals, define team roles, and add incentives to base pay like sales commission, bonuses, and employee stock options. The document recommends Ammeter Inc. adopt team-based pay with added incentives to motivate their medical supplies sales teams.
MGMT 494- Pay Transparency
Pay transparency refers to the visibility of a company's compensation system and can vary in its degree. While pay transparency was historically seen as taboo and can increase administrative work, it provides several key benefits like increased communication, collaboration, and legal defense for employers. It also benefits employees through increased motivation and productivity. The document recommends that companies begin systematically implementing elements of pay transparency to realize these advantages over maintaining secrecy.
Pricex 2008
Introduction to our book "Pricing With Confidence: Ten Ways to Stop Leaving Money on the Table"
How to create a SaaS sales compensation plan.
The document provides tips for creating a sales compensation plan for a SaaS company. It recommends determining on-target earnings for the sales team based on market norms and a split between base salary and commissions. It also suggests including incentives and bonuses to encourage competition and goal achievement. Additionally, it advises considering all details like commission rates, experience levels, and strategically incentivizing desired sales outcomes. The document stresses keeping the plan simple and remembering that incentives will drive desired sales behaviors.
Affinion ABG vs. Membership contest
The document summarizes an incentive contest run by Affinion to improve retention performance. It aimed to capitalize on previous successful performance by targeting managers and directors instead of sales agents. The simple contest compared retention improvement between business units, applying a penalty for poor quality assurance scores. It resulted in improved retention numbers for the winning team and generated over $80,000 in revenue at a very low cost, delivering a strong return on investment.
18 Keys to Business Success
Focus on employee engagement and customer satisfaction. Pay sales employees a commission of 40-50% and adjust commission rates based on product profitability. Raise prices gradually over time to increase profits while maintaining goodwill. Benchmark marketing, sales, and employee engagement metrics to optimize returns on investment.
Implementing a Sales Compensation Program
This document provides an overview of introducing a sales compensation program to an organization. It discusses engaging key stakeholders, key design considerations like salary/incentive splits and performance measures, transition considerations, developing a pilot program, and preparing to administer the plan. The presentation agenda includes are you ready for a sales comp plan, engaging stakeholders, design considerations, transition, pilot program, and administration. The document also provides a case study example of a company that implemented a sales compensation plan.
sales managers kester
This document outlines best practices for top sales managers. It recommends that sales managers build a first-rate sales team, clearly define individual goals for new business and measure results against goals. It also suggests that sales managers should manage performances through one-on-one conversations, recognize top performers and challenge struggling reps. Sales meetings should focus on sales results, success stories and best practices. Sales managers should also coach and mentor their teams through results-focused coaching, removing obstacles and visiting top accounts together.
Tuning Rev Cycle Overview
The document discusses how to maximize revenue by analyzing and optimizing key parts of the revenue cycle, including delivery, sales, marketing, and collections. It recommends starting by setting a revenue goal and understanding current capacity and performance across the revenue cycle. Key metrics for delivery, sales, and marketing are defined, such as time to deliver, average deal size and close time. The document provides a process for comparing goals to current capacity and performance, identifying issues, and developing plans to address problems and improve the revenue engine to meet goals.
Building a Financially Accountable Marketing Plan | Service World Expo 2018 -...
If you’ve been burned by an in-house marketing team or an outside agency whose results didn’t align with your bottom line, this session is for you. Learn the strategy used to grow a home services business from $2 million annually to $400 million annually and the proven framework for growing fearlessly without burning cash. We’ll unpack how to think about the marketing cost per acquisition (MCPA) for your business, how to develop a marketing testing strategy, and how and when to scale marketing channels when they’re successful. Your best competitors know that transformational growth is the byproduct of results-driven, financially-accountable marketing. You can do this too! https://valveandmeter.com
Sales Performance Consulting
The document discusses unlocking value by elevating sales and customer service organizations to world-class levels. It outlines the author's experience transforming sales organizations and their four-step process of partnering with leadership, conducting diagnostics, building solutions through team engagement, and executing an action plan. The author's diagnostics cover six areas of sales strategy, force design, customer engagement, people, motivation, and operations.
% Steps Google App
The document outlines 5 steps to freedom in business: 1) Developing a solid business plan; 2) Creating a unique selling proposition and guarantee; 3) Creating a break-even plan; 4) Implementing a sales management system; and 5) Creating a tactical marketing plan. It then discusses each step in more detail and provides additional steps like developing a team building system, employee acquisition plan, and comprehensive exit strategy. The overall message is that following these steps can help business owners increase profitability, build an amazing team, and free up their time by avoiding common business failures.
Platform 1
This document discusses opportunities for business advisors to help small and medium business owners transition out of their businesses over time rather than an outright sale. It introduces the Platform 1 model which brings in executive management to take an equity stake in the business, allowing owners to step back while maintaining income and ownership. This provides continuity for the business and clients. Case studies demonstrate how the model has helped business owners achieve growth and optimize value from their businesses through gradual transitions.
Optimize Rebate Strategies to Accelerate Revenue
Do you include rebate programs in your quoting, pricing and/or discounting processes? If not, you may be missing an opportunity to maximize your rebate ROI. Rebates are often considered a separate activity owned by marketing or channel sales, but there is power in incorporating them into a more comprehensive strategy, execution and communication. Attend this session to learn how to develop rebate programs that drive real business results.
Why Did My Profits Shrink Last Year When I Was Busier Than Ever?
The document discusses why a business owner's profits may shrink even when they are busier. There are two main reasons - an unbudgeted increase in overhead costs or incorrect pricing. As a business grows and adds employees, overhead costs like office space, marketing, utilities increase. Profit margins shrink if pricing is not adjusted to account for these rising overhead costs. The business owner needs accurate tracking of all costs to maintain profitability as the business grows.
Range and Strategy
Structure can be a good thing. Pay ranges give you guidelines for how to pay your people, and help you to identify pay inconsistencies and inequities across your employees. Join this webinar to learn more.
-An overview of how to use your Insight Platform to build out a range structure
-Best Practices of what to think about when building out a structure in the tool for the first time
-Keys tips to implement pay ranges in your organization
8 Critical Sales Metrics to Measure Sales Performance
Richardson’s 8 Critical Sales Metrics reveals the eight core sales metrics that you should be looking at to measure your sales team performance, sales KPIs, and the effectiveness and impact of your sales training.
Selling your business
The document discusses key factors for selling a business at maximum value, including having a well-oiled machine that can run without the owner's direct involvement. It emphasizes establishing mastery over finances, time, and delivery; building a strong team to serve customers; systematizing routine processes; and building tangible value in the business's niche through effective marketing. The goal is to create a highly desirable asset for buyers by focusing on customer service, results, and operational excellence.
CMDC_160517_CorpBrochureDesign_SinglePages
This document summarizes the services of Complete Manufacturing and Development (CMD), a company that helps clients accelerate their Asia strategies. CMD offers solutions across envisioning strategies, product development, quality assurance, operations, and sales in Asia. Their services allow clients to get products to market faster, improve quality, increase margins, and sell more effectively in Asia. CMD has over 30 years of experience in Asia and offices in Hong Kong, Shanghai, Vietnam, and the UK. They have helped over 100 clients create millions in value.
The $3.5M Question: Train Your Sellers or Your Sales Managers?
Sales managers are important, but what’s the business case for investing in their development? Or more pointedly, is it worth reallocating your limited training budget away from salespeople and toward their managers?
New research reveals that the average cost of a poor sales manager is a whopping $3.5 million in lost revenue… Per manager. Across even a modestly sized sales force, that adds up to tens of millions of dollars. The research also shows that shifting sales training budgets from sellers to managers is a smart investment strategy. Companies that invest more than 50 percent of their budgets in sales management programs grow revenue 15 percent faster than those that invest primarily in their sellers. Join researcher and best-selling author Jason Jordan as he discusses:
How to quantify the cost of bad sales management in your organization
How to build a clear and compelling business case for focused investment in your sales managers
How to identify the specific management training programs that will make the biggest impact
If you are a sales enablement or L&D professional, you will not want to miss this eye-opening session.
Building & Leading the SaaS Sales Team
This document provides guidance for building and leading a startup sales team. It outlines three key focuses: finding and retaining the right people by hiring a few account executives and sales development reps initially; leading the team well through coaching, setting compensation plans and metrics; and enabling the team with tools like a CRM and sales playbook to lay the foundation for scalable and efficient sales. The guidance recommends starting the sales hiring process once 10 paying customers are acquired to help define the sales process based on early learnings.
Customer Success Management - Incentives and Compensation
This document summarizes a presentation about customer success incentives and compensation. It discusses 5 questions: 1) Why now is the time to discuss compensation, 2) Considerations for compensation at different company lifecycle phases, 3) Whether customer success managers should be on variable plans, 4) Whether metrics should be individual or team-based, and 5) What a model compensation plan looks like. The presentation was given by two speakers from Xactly and covered topics such as compensation planning timelines, variable versus salary-only plans, individual versus team metrics, and examples of compensation plan components.
Recruit-To-Revenue - improve your top line performance
This short presentation describes Asula\'s Recruit-to-Revenue methodology for uncovering sales management process weaknesses.
BVM - Business Value Management - Value Drivers
The document discusses Business Value Management (BVM) and how procurement can demonstrate its impact on key business measures and value creation. It aims to help procurement leaders quantify their impact and improve the perception of procurement. Specifically, it outlines five drivers of value creation including accelerating cash flow, reducing costs and risk, and increasing long-term business value. It also notes that procurement can impact business growth, margins, and capital through relationships with suppliers that provide innovation, market share, prices, and speed to market.
Owner's end game-slideshare
The importance of deciding the owner's end-game so that the future vision is clear and the company balanced prior to the owner's retirement from active management. Every option works better with improved profitability, and knowledgeable management to implement the team's operational business plans. An outside facilitator's primary roles assisting the owner in building a workable plan.
Total Rewards Outsourcing
This document promotes an outsourcing company that provides total rewards solutions including job evaluation, compensation studies, benefits programs, and other HR services. It encourages businesses of all sizes to outsource their total rewards functions to benefit from the company's partnership model, innovative approach, lower costs, and measurable results. Contact information is provided for the outsourcing company.
Quality to Customer Value
This document discusses moving from a focus on Total Quality Management to Total Customer Value Management. It argues that quality professionals should take on new roles in creating value for customers. Key points include:
- Quality processes like quality circles should become more customer-centric to focus on creating value for customers rather than just quality and defect reduction.
- Measuring customer value added through metrics like customer value score can help organizations predict future market share gains and reduce customer churn more accurately than financial metrics.
- Companies in the top 20% in relative customer value scored significantly higher returns on investment compared to bottom 20% according to PIMS data.
- Quality professionals should lead the transition to a customer-focused approach, just
True North
TrueNorth Associates provides sales training programmes to help organisations develop a more structured and consistent sales approach. Their training courses teach sales teams to plan customer engagements strategically in order to increase profitable revenue, close rates, and sales forecast accuracy. TrueNorth delivers basic and advanced sales process training, as well as programmes focused on strategic opportunity management, major account planning, and coaching skills for sales managers.
Compensation and motivation of sales force
Compensation plans for sales forces aim to meet sales projections and bring earnings to desired levels by rewarding individual performance. The compensation process establishes objectives, determines factors like salary and commission, implements programs, and relates rewards to performance. Salary compensation is easiest but lacks incentives, while straight commission ties expenses directly to sales. Motivation of sales forces considers both financial and non-financial factors.
Commission Management in Direct Selling: A Comprehensive Overview
Direct selling has become a successful model in recent years. It has provided a lot of opportunities for people who would like to make a passive income. To be successful in the market, it is essential for the direct selling entrepreneurs to keep their distributors happy by providing them with rewards for their constant support. How can direct sales companies provide support or distributors? Apart from providing training, timely and accurate commission payouts is essential for the business success. A distributor who joins a direct sales company first notice the commission structure that benefits the business from several ends. In general, an effective commission structure should be like fairly compensate the distributors, plays as a motivation factor for the distributor and helps to build a trust within the brand.
In direct sales businesses, distributors are offered a variety of bonuses, commissions and incentives to increase sales. Commissions provided for the distributors are of four types such as personal sales commissions, downline commissions, leadership bonus and rank advancement bonus.
More Related Content
What's hot
Tuning Rev Cycle Overview
The document discusses how to maximize revenue by analyzing and optimizing key parts of the revenue cycle, including delivery, sales, marketing, and collections. It recommends starting by setting a revenue goal and understanding current capacity and performance across the revenue cycle. Key metrics for delivery, sales, and marketing are defined, such as time to deliver, average deal size and close time. The document provides a process for comparing goals to current capacity and performance, identifying issues, and developing plans to address problems and improve the revenue engine to meet goals.
Building a Financially Accountable Marketing Plan | Service World Expo 2018 -...
If you’ve been burned by an in-house marketing team or an outside agency whose results didn’t align with your bottom line, this session is for you. Learn the strategy used to grow a home services business from $2 million annually to $400 million annually and the proven framework for growing fearlessly without burning cash. We’ll unpack how to think about the marketing cost per acquisition (MCPA) for your business, how to develop a marketing testing strategy, and how and when to scale marketing channels when they’re successful. Your best competitors know that transformational growth is the byproduct of results-driven, financially-accountable marketing. You can do this too! https://valveandmeter.com
Sales Performance Consulting
The document discusses unlocking value by elevating sales and customer service organizations to world-class levels. It outlines the author's experience transforming sales organizations and their four-step process of partnering with leadership, conducting diagnostics, building solutions through team engagement, and executing an action plan. The author's diagnostics cover six areas of sales strategy, force design, customer engagement, people, motivation, and operations.
% Steps Google App
The document outlines 5 steps to freedom in business: 1) Developing a solid business plan; 2) Creating a unique selling proposition and guarantee; 3) Creating a break-even plan; 4) Implementing a sales management system; and 5) Creating a tactical marketing plan. It then discusses each step in more detail and provides additional steps like developing a team building system, employee acquisition plan, and comprehensive exit strategy. The overall message is that following these steps can help business owners increase profitability, build an amazing team, and free up their time by avoiding common business failures.
Platform 1
This document discusses opportunities for business advisors to help small and medium business owners transition out of their businesses over time rather than an outright sale. It introduces the Platform 1 model which brings in executive management to take an equity stake in the business, allowing owners to step back while maintaining income and ownership. This provides continuity for the business and clients. Case studies demonstrate how the model has helped business owners achieve growth and optimize value from their businesses through gradual transitions.
Optimize Rebate Strategies to Accelerate Revenue
Do you include rebate programs in your quoting, pricing and/or discounting processes? If not, you may be missing an opportunity to maximize your rebate ROI. Rebates are often considered a separate activity owned by marketing or channel sales, but there is power in incorporating them into a more comprehensive strategy, execution and communication. Attend this session to learn how to develop rebate programs that drive real business results.
Why Did My Profits Shrink Last Year When I Was Busier Than Ever?
The document discusses why a business owner's profits may shrink even when they are busier. There are two main reasons - an unbudgeted increase in overhead costs or incorrect pricing. As a business grows and adds employees, overhead costs like office space, marketing, utilities increase. Profit margins shrink if pricing is not adjusted to account for these rising overhead costs. The business owner needs accurate tracking of all costs to maintain profitability as the business grows.
Range and Strategy
Structure can be a good thing. Pay ranges give you guidelines for how to pay your people, and help you to identify pay inconsistencies and inequities across your employees. Join this webinar to learn more.
-An overview of how to use your Insight Platform to build out a range structure
-Best Practices of what to think about when building out a structure in the tool for the first time
-Keys tips to implement pay ranges in your organization
8 Critical Sales Metrics to Measure Sales Performance
Richardson’s 8 Critical Sales Metrics reveals the eight core sales metrics that you should be looking at to measure your sales team performance, sales KPIs, and the effectiveness and impact of your sales training.
Selling your business
The document discusses key factors for selling a business at maximum value, including having a well-oiled machine that can run without the owner's direct involvement. It emphasizes establishing mastery over finances, time, and delivery; building a strong team to serve customers; systematizing routine processes; and building tangible value in the business's niche through effective marketing. The goal is to create a highly desirable asset for buyers by focusing on customer service, results, and operational excellence.
CMDC_160517_CorpBrochureDesign_SinglePages
This document summarizes the services of Complete Manufacturing and Development (CMD), a company that helps clients accelerate their Asia strategies. CMD offers solutions across envisioning strategies, product development, quality assurance, operations, and sales in Asia. Their services allow clients to get products to market faster, improve quality, increase margins, and sell more effectively in Asia. CMD has over 30 years of experience in Asia and offices in Hong Kong, Shanghai, Vietnam, and the UK. They have helped over 100 clients create millions in value.
The $3.5M Question: Train Your Sellers or Your Sales Managers?
Sales managers are important, but what’s the business case for investing in their development? Or more pointedly, is it worth reallocating your limited training budget away from salespeople and toward their managers?
New research reveals that the average cost of a poor sales manager is a whopping $3.5 million in lost revenue… Per manager. Across even a modestly sized sales force, that adds up to tens of millions of dollars. The research also shows that shifting sales training budgets from sellers to managers is a smart investment strategy. Companies that invest more than 50 percent of their budgets in sales management programs grow revenue 15 percent faster than those that invest primarily in their sellers. Join researcher and best-selling author Jason Jordan as he discusses:
How to quantify the cost of bad sales management in your organization
How to build a clear and compelling business case for focused investment in your sales managers
How to identify the specific management training programs that will make the biggest impact
If you are a sales enablement or L&D professional, you will not want to miss this eye-opening session.
Building & Leading the SaaS Sales Team
This document provides guidance for building and leading a startup sales team. It outlines three key focuses: finding and retaining the right people by hiring a few account executives and sales development reps initially; leading the team well through coaching, setting compensation plans and metrics; and enabling the team with tools like a CRM and sales playbook to lay the foundation for scalable and efficient sales. The guidance recommends starting the sales hiring process once 10 paying customers are acquired to help define the sales process based on early learnings.
Customer Success Management - Incentives and Compensation
This document summarizes a presentation about customer success incentives and compensation. It discusses 5 questions: 1) Why now is the time to discuss compensation, 2) Considerations for compensation at different company lifecycle phases, 3) Whether customer success managers should be on variable plans, 4) Whether metrics should be individual or team-based, and 5) What a model compensation plan looks like. The presentation was given by two speakers from Xactly and covered topics such as compensation planning timelines, variable versus salary-only plans, individual versus team metrics, and examples of compensation plan components.
Recruit-To-Revenue - improve your top line performance
This short presentation describes Asula\'s Recruit-to-Revenue methodology for uncovering sales management process weaknesses.
BVM - Business Value Management - Value Drivers
The document discusses Business Value Management (BVM) and how procurement can demonstrate its impact on key business measures and value creation. It aims to help procurement leaders quantify their impact and improve the perception of procurement. Specifically, it outlines five drivers of value creation including accelerating cash flow, reducing costs and risk, and increasing long-term business value. It also notes that procurement can impact business growth, margins, and capital through relationships with suppliers that provide innovation, market share, prices, and speed to market.
Owner's end game-slideshare
The importance of deciding the owner's end-game so that the future vision is clear and the company balanced prior to the owner's retirement from active management. Every option works better with improved profitability, and knowledgeable management to implement the team's operational business plans. An outside facilitator's primary roles assisting the owner in building a workable plan.
Total Rewards Outsourcing
This document promotes an outsourcing company that provides total rewards solutions including job evaluation, compensation studies, benefits programs, and other HR services. It encourages businesses of all sizes to outsource their total rewards functions to benefit from the company's partnership model, innovative approach, lower costs, and measurable results. Contact information is provided for the outsourcing company.
Quality to Customer Value
This document discusses moving from a focus on Total Quality Management to Total Customer Value Management. It argues that quality professionals should take on new roles in creating value for customers. Key points include:
- Quality processes like quality circles should become more customer-centric to focus on creating value for customers rather than just quality and defect reduction.
- Measuring customer value added through metrics like customer value score can help organizations predict future market share gains and reduce customer churn more accurately than financial metrics.
- Companies in the top 20% in relative customer value scored significantly higher returns on investment compared to bottom 20% according to PIMS data.
- Quality professionals should lead the transition to a customer-focused approach, just
True North
TrueNorth Associates provides sales training programmes to help organisations develop a more structured and consistent sales approach. Their training courses teach sales teams to plan customer engagements strategically in order to increase profitable revenue, close rates, and sales forecast accuracy. TrueNorth delivers basic and advanced sales process training, as well as programmes focused on strategic opportunity management, major account planning, and coaching skills for sales managers.
What's hot (20)
Building a Financially Accountable Marketing Plan | Service World Expo 2018 -...
Building a Financially Accountable Marketing Plan | Service World Expo 2018 -...
Why Did My Profits Shrink Last Year When I Was Busier Than Ever?
Why Did My Profits Shrink Last Year When I Was Busier Than Ever?
8 Critical Sales Metrics to Measure Sales Performance
8 Critical Sales Metrics to Measure Sales Performance
The $3.5M Question: Train Your Sellers or Your Sales Managers?
The $3.5M Question: Train Your Sellers or Your Sales Managers?
Customer Success Management - Incentives and Compensation
Customer Success Management - Incentives and Compensation
Recruit-To-Revenue - improve your top line performance
Recruit-To-Revenue - improve your top line performance
Similar to MGMT494-SALES COMPENSATION
Compensation and motivation of sales force
Compensation plans for sales forces aim to meet sales projections and bring earnings to desired levels by rewarding individual performance. The compensation process establishes objectives, determines factors like salary and commission, implements programs, and relates rewards to performance. Salary compensation is easiest but lacks incentives, while straight commission ties expenses directly to sales. Motivation of sales forces considers both financial and non-financial factors.
Commission Management in Direct Selling: A Comprehensive Overview
Direct selling has become a successful model in recent years. It has provided a lot of opportunities for people who would like to make a passive income. To be successful in the market, it is essential for the direct selling entrepreneurs to keep their distributors happy by providing them with rewards for their constant support. How can direct sales companies provide support or distributors? Apart from providing training, timely and accurate commission payouts is essential for the business success. A distributor who joins a direct sales company first notice the commission structure that benefits the business from several ends. In general, an effective commission structure should be like fairly compensate the distributors, plays as a motivation factor for the distributor and helps to build a trust within the brand.
In direct sales businesses, distributors are offered a variety of bonuses, commissions and incentives to increase sales. Commissions provided for the distributors are of four types such as personal sales commissions, downline commissions, leadership bonus and rank advancement bonus.
Multimedia Company Moves Toward Digital Age With Help From Optymyze
A multi-billion dollar, publicly traded, multimedia company whose innovations defined much of the business of direct mail marketing faced new challenges in the arena of digital marketing.
The company engaged Optymyze to design, implement, and operate its new sales compensation plan, which put a larger premium on the company’s most important product, leading to that product exceeding its sales target by several percentage points over the next three years.
Sales lesson for start ups 4
This document summarizes key lessons from a sales webinar for startups. It discusses the importance of focusing on building recurring revenue streams to provide more predictable cash flow. Some strategies mentioned include creating subscription or annuity-based products and services, taking a gradual approach through small pilots rather than big orders, and setting achievable sales targets and timelines. The document also covers different types of revenue models like ad-based, transactional, and subscription models that startups can consider. The next webinar will cover the remaining sales lessons on topics like partnering with experienced sales teams and using social media effectively for sales.
Sales lesson for start ups 3
This document summarizes key lessons from a sales webinar for startups. It discusses the importance of focusing on building recurring revenue streams to provide more predictable cash flow. Some strategies mentioned include creating subscription or annuity-based products and services, taking a gradual approach through small pilots rather than big orders, and setting achievable sales targets and timelines. The document also covers different types of revenue models like ad-based, transactional, and subscription models that startups can consider. The next webinar will cover the remaining sales lessons on topics like partnering with experienced sales teams and using social media effectively for sales.
Compensation
The document discusses various methods for compensating salespeople, including straight salary, straight commission, and combination plans. It provides details on the best uses and impacts of different compensation types like salary, commissions, incentives, bonuses, and benefits. Common combination plans pair salary with commissions and/or bonuses. Effective plans motivate performance and balance control, incentives, and satisfaction of salespeople's needs.
Compensation through easy-commission
The document discusses various methods for compensating salespeople, including straight salary, straight commission, and combination plans involving salary plus bonuses or commissions. It provides details on the benefits and drawbacks of different compensation types and explores trends toward using incentive payments and customer satisfaction metrics in determining compensation. Sample compensation levels from industry surveys are presented for various sales roles.
Increasing profitability through marketing.
This document discusses how companies can increase profitability through marketing and improving service quality. It argues that service quality leads to both offensive and defensive marketing benefits. Offensive marketing benefits include gaining market share, a positive reputation, and the ability to charge higher prices through attracting new customers. Defensive marketing benefits come from retaining existing customers, such as lower costs from customer loyalty, increased purchase volume, and price premiums. The document advocates measuring key drivers of service quality and using balanced scorecards to track financial, customer, operational, and innovation metrics. Overall, it presents the perspective that higher service quality drives greater customer retention and acquisition, leading to increased profits.
keyaccountmanagement-091023150305-phpapp01.pptx
Key account management (KAM) is a strategic business approach that ensures long-term partnerships with important customers. It aims to maximize sales, increase average deal size, boost customer loyalty, and position the organization as core to the business. Developing internal capabilities around knowledge, structures, systems and tools is crucial for KAM success. The KAM process involves assessing prospects, understanding customer needs beyond products, developing tailored solutions, and managing relationships over time through strategic account planning.
Motivation and Compensation of Sales People
The document discusses different types of compensation plans for motivating salespeople, including straight salary plans, straight commission plans, and combination plans. Straight salary plans provide secure income but lack financial incentives for performance. Straight commission plans strongly incentivize performance but may lack focus on customer relationships. Combination plans combine elements to reward performance while providing some security. The optimal plan depends on the sales role and company's objectives.
Cellular Provider Manages Constant Change by Partnering with Optymyze
A US-based regional cellular service provider emphasizing rural markets had twice attempted to implement an incentive compensation management system from a well-known leader in sales performance management, but failed to go live on either attempt. Dissatisfied with the vendor’s inability to deliver twice over a four-year period, the company decided to scrap their multi-million dollar investment and start over.
The company realized that software—any software, no matter how flexible the data transformation, compensation management, and reporting capabilities—was not their only problem. They also had issues with internal expertise and resources, so they chose to fully outsource software hosting, software configuration maintenance, and management of several sales operations business processes to Optymyze, embracing a best practices approach.
Cellular provider-manages-change
The cellular provider faced challenges keeping up with constant market changes and needed a flexible system to quickly adapt sales incentives. Their existing mostly manual process had become too cumbersome and inconsistent. By outsourcing to Optymyze, they gained automated management of complex multi-channel compensation plans and location-based sales data. This enabled faster execution of new sales strategies and more accurate rep payments.
16 Strategies for Growth
As a product leader, you have the responsibility to plan strategically for your company to grow its customer base and revenue. Thanks to years of other people growing companies, there are ten standard playbooks for how to accelerate your company’s trajectory. Simply because they are standard doesn’t mean that you can’t execute them in your own special snowflake way, but it’s relatively hard to reinvent the wheel.
The list below is designed for leaders who are thinking about what the next phase of their company should be so that you can make sure you’ve entertained all the options. It’s very easy to think of one path and fall in love with it without exploring alternative routes. You may have a little John Frost (author who wrote two roads diverged in a wood poem) in you, and it’s worth exploring the roads less taken, it might just make all the difference.
Each of the 16 options, can be used to accomplish at least one of the three primary business objectives:
Add New Logos (growing your total addressable market or serviceable one)
Improve Retention (increasing lifetime value or money per logo)
Decrease Costs (reducing customer acquisition cost or operating expenses)
It's important to note that for each goal, there are many strategies which can assist in accomplishing it. Unfortunately, not all strategies are correct for each company. Therefore, please see the attached video powerpoint deck which outlines tips for how to make that strategy successful and the conditions when it is a favorable option. If you manage a portfolio of products, different options will be applicable to each one depending on the current situation it is facing.
----
Hi! I’m Tami, the founder of The Product Leader Coach where I work with product leaders and teams to realize their potential by focusing on their strengths.
If you enjoyed this post, I am available for product leadership coaching or team training. Learn more about my services and upcoming children’s book at tamireiss.com
Exposing the Myth Of Planned Obsolescence: Why the Sales Compensation Plan Mu...
presented at TrueConnection: Sales Performance Management Conference 2007 by Mark Davis, Managing Principal of Valitus Group, Inc.
Enterprise aligns-fragmented-sales-comp-practices-across-continents
The document discusses the challenges faced by a parent company with operating companies globally in assessing sales performance due to disparities in processes and business rules. The leadership faced issues with sales executives demanding autonomy over processes, concerns over information sharing and continuity, and difficulties making changes to supporting systems. The parent company wanted to continue allowing regional variations within a unified structure and overarching standards. Optymyze was selected to redesign the sales compensation strategy and processes and implement an automated solution on a hosted platform to address these challenges.
I have 99 Problems and Profit is #1
This document outlines how agencies can develop a new sustainable revenue stream through a strategic partnership with Act-On Software. It acknowledges challenges in the industry like decreasing budgets, increased competition, and demands for accountability. It then discusses how marketing automation can help agencies generate more revenue with smaller budgets by closing the loop between sales and marketing. A partnership provides agencies tools to better manage clients and campaigns, improve efficiency, and stabilize revenue. Case studies show partners achieving higher revenue, better client results, and happier employees. The document encourages scheduling a demo to learn more.
Download
The document discusses how agencies can develop new sustainable revenue streams using marketing automation. It acknowledges challenges in the industry like decreasing budgets and increased competition. It then outlines benefits of a strategic partnership with Act-On Software, including stabilized revenue, less speculative work, and better client results. Case studies show partners increasing revenue, efficiency and client satisfaction while saving time. The presentation encourages agencies to schedule a demo to learn more.
No Regrets: How to Choose the Right CRM Solution
In this presentation, Noel Forst, Business Development Manager for Maximizer CRM has put together the key steps to follow to help you find the right CRM solution without any regret.
desining a sales territory (Sales management)
The document discusses strategies for designing sales territories, objectives, incentives, and managing vacant territories including defining territories based on geography, potential, and history; setting objectives to maximize sales and profits; using incentives like quotas, bonuses, and commissions to motivate salespeople; and prioritizing regular coverage of key customers when territories become vacant until a replacement is found.
The Pilot Engage Pilot Framework
This document discusses a framework called the Process Engage Pilot Framework that helps sales teams increase their success with pilot programs and product evaluations. It outlines a 3 phase approach: 1) Prepare - build a strong foundation by assessing viability and establishing goals and roles, 2) Prove - execute the pilot according to an Evaluation Charter to demonstrate value, and 3) Close - position yourself to win the business. Key elements of the framework include an Evaluation Questionnaire, Use Case Prompters to shape success criteria, an Evaluation Charter as an execution roadmap, and a Customer Playbook of best practices. With this approach, companies can improve pilot win rates, increase sales revenues, shorten sales cycles, and gain competitive advantages.
Similar to MGMT494-SALES COMPENSATION (20)
Commission Management in Direct Selling: A Comprehensive Overview
Commission Management in Direct Selling: A Comprehensive Overview
Multimedia Company Moves Toward Digital Age With Help From Optymyze
Multimedia Company Moves Toward Digital Age With Help From Optymyze
Cellular Provider Manages Constant Change by Partnering with Optymyze
Cellular Provider Manages Constant Change by Partnering with Optymyze
Exposing the Myth Of Planned Obsolescence: Why the Sales Compensation Plan Mu...
Exposing the Myth Of Planned Obsolescence: Why the Sales Compensation Plan Mu...
Enterprise aligns-fragmented-sales-comp-practices-across-continents
Enterprise aligns-fragmented-sales-comp-practices-across-continents
Recently uploaded
Satta Matka Dpboss Matka Guessing Kalyan Chart Indian Matka Kalyan panel Chart
Satta Matka Dpboss Matka Guessing Kalyan Chart Indian Matka Kalyan panel Chart➒➌➎➏➑➐➋➑➐➐Dpboss Matka Guessing Satta Matka Kalyan Chart Indian Matka
SATTA MATKA SATTA FAST RESULT KALYAN TOP MATKA RESULT KALYAN SATTA MATKA FAST RESULT MILAN RATAN RAJDHANI MAIN BAZAR MATKA FAST TIPS RESULT MATKA CHART JODI CHART PANEL CHART FREE FIX GAME SATTAMATKA ! MATKA MOBI SATTA 143 spboss.in TOP NO1 RESULT FULL RATE MATKA ONLINE GAME PLAY BY APP SPBOSSDpboss Matka Guessing Satta Matta Matka Kalyan Chart Satta Matka
Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Satta Matka➒➌➎➏➑➐➋➑➐➐Dpboss Matka Guessing Satta Matka Kalyan Chart Indian Matka
Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian Matka Indian satta Matka Dpboss Matka Kalyan Chart Matka Boss otg matka Guessing Satta Call 8867766396 Satta Matka Dpboss Matka Guessing Satta batta Matka 420 Satta...
CALL 8867766396 SATTA MATKA | DPBOSS | KALYAN MAIN BAZAR | FAST MATKA | DPBOSS GUESSING | TARA MATKA | KALYAN CHART | MATKA BOSS
Organizational Change Leadership Agile Tour Geneve 2024
Organizational Change Leadership at Agile Tour Geneve 2024
Recruiting in the Digital Age: A Social Media Masterclass
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...
Dive into the steadfast world of the Taurus Zodiac Sign. Discover the grounded, stable, and logical nature of Taurus individuals, and explore their key personality traits, important dates, and horoscope insights. Learn how the determination and patience of the Taurus sign make them the rock-steady achievers and anchors of the zodiac.
The Evolution and Impact of OTT Platforms: A Deep Dive into the Future of Ent...
This presentation provides a thorough examination of Over-the-Top (OTT) platforms, focusing on their development and substantial influence on the entertainment industry, with a particular emphasis on the Indian market.We begin with an introduction to OTT platforms, defining them as streaming services that deliver content directly over the internet, bypassing traditional broadcast channels. These platforms offer a variety of content, including movies, TV shows, and original productions, allowing users to access content on-demand across multiple devices.The historical context covers the early days of streaming, starting with Netflix's inception in 1997 as a DVD rental service and its transition to streaming in 2007. The presentation also highlights India's television journey, from the launch of Doordarshan in 1959 to the introduction of Direct-to-Home (DTH) satellite television in 2000, which expanded viewing choices and set the stage for the rise of OTT platforms like Big Flix, Ditto TV, Sony LIV, Hotstar, and Netflix. The business models of OTT platforms are explored in detail. Subscription Video on Demand (SVOD) models, exemplified by Netflix and Amazon Prime Video, offer unlimited content access for a monthly fee. Transactional Video on Demand (TVOD) models, like iTunes and Sky Box Office, allow users to pay for individual pieces of content. Advertising-Based Video on Demand (AVOD) models, such as YouTube and Facebook Watch, provide free content supported by advertisements. Hybrid models combine elements of SVOD and AVOD, offering flexibility to cater to diverse audience preferences.
Content acquisition strategies are also discussed, highlighting the dual approach of purchasing broadcasting rights for existing films and TV shows and investing in original content production. This section underscores the importance of a robust content library in attracting and retaining subscribers.The presentation addresses the challenges faced by OTT platforms, including the unpredictability of content acquisition and audience preferences. It emphasizes the difficulty of balancing content investment with returns in a competitive market, the high costs associated with marketing, and the need for continuous innovation and adaptation to stay relevant.
The impact of OTT platforms on the Bollywood film industry is significant. The competition for viewers has led to a decrease in cinema ticket sales, affecting the revenue of Bollywood films that traditionally rely on theatrical releases. Additionally, OTT platforms now pay less for film rights due to the uncertain success of films in cinemas.
Looking ahead, the future of OTT in India appears promising. The market is expected to grow by 20% annually, reaching a value of ₹1200 billion by the end of the decade. The increasing availability of affordable smartphones and internet access will drive this growth, making OTT platforms a primary source of entertainment for many viewers.
Company Valuation webinar series - Tuesday, 4 June 2024
This session provided an update as to the latest valuation data in the UK and then delved into a discussion on the upcoming election and the impacts on valuation. We finished, as always with a Q&A
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.
This letter, written by Kellen Harkins, Course Director at Full Sail University, commends Anny Love's exemplary performance in the Video Sharing Platforms class. It highlights her dedication, willingness to challenge herself, and exceptional skills in production, editing, and marketing across various video platforms like YouTube, TikTok, and Instagram.
Income Tax exemption for Start up : Section 80 IAC
A presentation on the concept of Exemption of Profits of Start ups from Income Tax
一比一原版新西兰奥塔哥大学毕业证（otago毕业证）如何办理
一模一样【微信：A575476】【新西兰奥塔哥大学毕业证（otago毕业证）成绩单Offer】【微信：A575476】（留信学历认证永久存档查询）采用学校原版纸张、特殊工艺完全按照原版一比一制作（包括：隐形水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠，文字图案浮雕，激光镭射，紫外荧光，温感，复印防伪）行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备，十五年致力于帮助留学生解决难题，业务范围有加拿大、英国、澳洲、韩国、美国、新加坡，新西兰等学历材料，包您满意。
【业务选择办理准则】
一、工作未确定，回国需先给父母、亲戚朋友看下文凭的情况，办理一份就读学校的毕业证【微信：A575476】文凭即可
二、回国进私企、外企、自己做生意的情况，这些单位是不查询毕业证真伪的，而且国内没有渠道去查询国外文凭的真假，也不需要提供真实教育部认证。鉴于此，办理一份毕业证【微信：A575476】即可
三、进国企，银行，事业单位，考公务员等等，这些单位是必需要提供真实教育部认证的，办理教育部认证所需资料众多且烦琐，所有材料您都必须提供原件，我们凭借丰富的经验，快捷的绿色通道帮您快速整合材料，让您少走弯路。
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
→ 【关于价格问题（保证一手价格）
我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子 我给客户的都是第一手的代理价格，因为我想坦诚对待大家 不想跟大家在价格方面浪费时间
对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。
选择实体注册公司办理，更放心，更安全！我们的承诺：可来公司面谈，可签订合同，会陪同客户一起到教育部认证窗口递交认证材料，客户在教育部官方认证查询网站查询到认证通过结果后付款，不成功不收费！
Evgen Osmak: Methods of key project parameters estimation: from the shaman-in...
Evgen Osmak: Methods of key project parameters estimation: from the shaman-inspired to the data-driven praxis (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
Structural Design Process: Step-by-Step Guide for Buildings
The structural design process is explained: Follow our step-by-step guide to understand building design intricacies and ensure structural integrity. Learn how to build wonderful buildings with the help of our detailed information. Learn how to create structures with durability and reliability and also gain insights on ways of managing structures.
The 10 Most Influential Leaders Guiding Corporate Evolution, 2024.pdf
In the recent edition, The 10 Most Influential Leaders Guiding Corporate Evolution, 2024, The Silicon Leaders magazine gladly features Dejan Štancer, President of the Global Chamber of Business Leaders (GCBL), along with other leaders.
-- June 2024 is National Volunteer Month --
Check out our June display of books on voluntary organisations
Recently uploaded (20)
Satta Matka Dpboss Matka Guessing Kalyan Chart Indian Matka Kalyan panel Chart
Satta Matka Dpboss Matka Guessing Kalyan Chart Indian Matka Kalyan panel Chart
Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Satta Matka
Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Satta Matka
Call 8867766396 Satta Matka Dpboss Matka Guessing Satta batta Matka 420 Satta...
Call 8867766396 Satta Matka Dpboss Matka Guessing Satta batta Matka 420 Satta...
Organizational Change Leadership Agile Tour Geneve 2024
Organizational Change Leadership Agile Tour Geneve 2024
Recruiting in the Digital Age: A Social Media Masterclass
Recruiting in the Digital Age: A Social Media Masterclass
Training my puppy and implementation in this story
Training my puppy and implementation in this story
Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...
Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...
The Evolution and Impact of OTT Platforms: A Deep Dive into the Future of Ent...
The Evolution and Impact of OTT Platforms: A Deep Dive into the Future of Ent...
Company Valuation webinar series - Tuesday, 4 June 2024
Company Valuation webinar series - Tuesday, 4 June 2024
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.
Income Tax exemption for Start up : Section 80 IAC
Income Tax exemption for Start up : Section 80 IAC
Evgen Osmak: Methods of key project parameters estimation: from the shaman-in...
Evgen Osmak: Methods of key project parameters estimation: from the shaman-in...
Structural Design Process: Step-by-Step Guide for Buildings
Structural Design Process: Step-by-Step Guide for Buildings
The 10 Most Influential Leaders Guiding Corporate Evolution, 2024.pdf
The 10 Most Influential Leaders Guiding Corporate Evolution, 2024.pdf
The Influence of Marketing Strategy and Market Competition on Business Perfor...
The Influence of Marketing Strategy and Market Competition on Business Perfor...
MGMT494-SALES COMPENSATION
- 1. AMMETER TECHNOLOGIES: A NEW ERA OF SALES COMPENSATION BY KW’DEARIA JONES, TAYLOR LYLE, BREANNA MAGEE
- 3. WHAT AMMETER’S CURRENT SALES COMPENSATION PLAN IS AND WHY THIS ISN’T WORKING Ammeter currently uses a profit margin sales compensation plan • Salespeople are paid based on how well company performs • Long-term incentives such as stock shares are used • Heavily relies on company-wide figures
- 4. EVALUATING OTHER COMPENSATION SYSTEMS AND WHY THEY WILL NOT WORK STRAIGHT SALARY COMMISSION ONLY TERRITORY VOLUME PROJECT MARGIN
- 5. AMMETER TECHNOLOGIES: NEW SALES COMPENSATION PLAN Salary plus Commission • Lower salary with commission pay (low fixed, high variable) • Offers incentives to motivate employee performance • Can be complex to design and fit with your specific company
- 6. HOW THE NEW SALES COMPENSATION PLAN WILL RETAIN SALESPEOPLE • Guaranteed compensation with salary • Attract risk takers by providing high commission rates • Increase percentages as employee gains seniority in the company
- 7. HOW TO COMMUNICATE THE NEW PLAN TO SALES FORCE • One large meeting with all of sales department • Individual meetings between salespeople and managers afterwards.
- 8. RECOMMENDATIONS We recommend moving forward with a salary plus commission plan This gives Ammeter Technologies: • Higher flexibility in controlling costs with variable compensation • A plan that will attract and retain risk takers • A motivational tool to push employees to perform their best