Sales compensation plans are at the heart of your sales strategy. The way your sales team sells will be driven by the way their pay is structured. And the same goes for those around them. At one company I worked at, sales management was paid on revenue, and marketing management was paid on profit margin. … Continue reading How Hubspot Evolved Their Sales Incentives
Have you ever run a contest where a salesperson hit a big bonus or qualified for a trip by gaming the system? If you’re in Sales or Marketing management, it’s almost inevitable. It’s unfortunate, and it’s frustrating, and you’ll vow to never let that happen again. But the fear of repeating it can often lead to over complicated … Continue reading Keeping it Simple – Sales Incentives
If that’s the first question that comes to mind when you start your sales planning then, congratulations – you’ve already decided that this is an investment, not a cost. And while many marketing programs require money to be spent without a clear path to an ROI calculation, the beauty of a sales incentive is that … Continue reading How Much Should I Invest in a Sales Incentive Program?
“Do you mind if I include the extended warranty with your purchase? It costs $149, but the final price to you will be the same.” This sounds like a sales scam – add something in at the last minute to boost the value of the purchase. But in this case, I had already negotiated a … Continue reading Sales Incentives and Unintended Consequences