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I had a chance recently to sit down and listen to Jim Kelleher, CFO of LogMeIn, at a recent meeting of the Massachusetts High Technology Leadership Council as he described his experiences with SaaS Sales Compensation plans. It’s always interesting to hear what others are doing with their sales comp strategies and plans, especially from someone with such a broad level of experience and a track record of success in the SaaS world. I am happy to share with you this brief breakdown of some real world advice from Jim.
Background: LogMeIn is a SaaS business in the classic sense:
In the SaaS world, it's critical to understand if your corp. strategy is based on growth (new sales) or stability (renewals). You need to be sure your plans reflect this strategy and are not rewarding salespeople for doing things you do not want them doing. Lets dive right into the meat of the discussion:
Core Plan Questions; How to handle new & renewal sales?
Simplicity is critical:
Read more on SaaS plan basics here: http://www.netcommissions.com/blog/bid/131285/Why-SaaS-Sales-Compensation-Plans-are-simple-but-damn-hard-to-do-well
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