The Alexander group recently conducted a survey of sales compensation trends with 135 sales organizations. The survey was conducted at the end of 2017 with expectations for 2018 an integral part of the exercise. Now at the mid-way point in 2018, an interesting question is not only how your sales organization matched up with the survey groups results & expectations, but now with six months in the books, what, if anything, has changed and why ? We take a look at several takeaways highlighted by the survey as ask a few questions to consider as you take stock of 2018 at the half way mark.
Sales Performance Management Best Practices Blog
Are you someone who thinks that humans are rational? What about Sales reps? The fact is that not everything we do is either smart or rational. In fact, understanding the patterns behind why we often make irrational decisions sets the stage for deeper understanding of human decisions and can yield some very surprising results.
World@Work recently posted an interesting interview that touched on an often overlooked aspect of the ‘Sales Performance Management’ analytics discussion which focuses on sales force feedback.
Sales Performance is a two way street between the business and the sales force and often is as much about trust as it is performance. When a sales team generally trusts the process by which they are measured and rewarded, lower turnover has generally been understood to be a result. This point often supports ROI analysis on investments in Sales Performance technologies such as Sales Incentive Compensation Management.
To anyone who thinks that Sales Performance Management is only for the corporate world, think again. An article this week that caught our attention describes how Oklahoma City Girl Scout Katie Francis recently broke the world record in cookie sales by selling 18,107 boxes of cookies this past year.
The debate about whether Sales Ops should be on a sales comp plan can be quite lively. On one hand, sales operations can mean different things to different organizations and be the root of some deeply rooted opinions. Some Sales Ops roles may greatly influence sales results and outputs (i.e. setting quota’s or deal level opportunity identification) while others may have more of a focus on activities such as training or sales compensation administration. In short, it can get a bit confusing about what is the best way to approach this question. Simplifying this complex issue and adding some context and definition to the issue is the first step in making the right decision.
An interesting article was published recently by Adamson, Dickson & Tomas of CEB in the Harvard Business Review 'Why Individuals No Longer Rule on Sales Teams' which certainly got my attention.
Sales Performance Management is a term that has evolved over the past few years to describe the process of measuring and rewarding sales performance. In the past, similar industry terminology such as Sales Incentive Compensation Management (ICM), Enterprise Incentive Management (EIM), and many other acronyms were popularized by consultants and practitioners to describe the same fundamental process of measuring and rewarding sales achievement. Practitioners using the term Sales Performance Management typically refer to three keystone elements to the process;