Over that past several decades, sales technology hasn’t just changed the playing field; it has redefined the game. Today’s sales teams leverage high-powered tools to attract, engage, and organize sales opportunities throughout the pipeline. Autodialing, video conferencing, computer-aided client relationship management, and our personal favorite: sales commission software… These advancements aren’t just profitable for businesses; they’re also breeding a new generation of sales rep superstars.
Right now, there are 173,000 sales rep jobs on Indeed.com. You’ll find nearly 150,000 listings on Glassdoor.com. Meanwhile LinkedIn represents 35,000 open positions for sales representatives, with base salaries ranging from $40K to $200K.
So if you’re a sales professional who’s working with one foot out the door, it shouldn’t be difficult to find new sales rep job opportunities. The hard part is getting your hands on comparative data that really matters: a fully-detailed sales compensation plan.
Sales is a hot category in the 2015 job market, with sales managers ranking 10th in terms of U.S job openings and 2nd in terms of highest average pay among popular positions.
Lots of companies begin looking for sales commission software when they are expanding their sales force or rethinking their compensation plans. In both cases, it’s easy to see that Excel can’t cut it anymore.
That’s because spreadsheets aren’t just inefficient… Spreadsheets actually handcuff your ability to motivate top sales talent, to align sales goals with your company strategy, and to grow your business.
We see it all the time—especially among companies with small sales teams: sloppy sales commission agreements. Unfortunately, we’re also seeing more and more cases where companies get burned by vague or poorly-written sales compensation plan documents.
Wondering how to calculate commission in Excel?
According to Google search data, hundreds of people enter this query every month. And since we know quite a bit about sales compensation/commission planning and design, we wanted to lend our advice to the list of resources you can find on this topic. Here goes…
How to Calculate Commission in Excel:
Step 1. DON’T.
Step 2. Explain to anyone who suggests it why Excel is a terrible solution.
In 2012, HBR heralded “the end of B2B solution sales.” In 2013, Forbes bit into the topic of sales force strategy for one of the world’s largest B2C brands. And today everything is on the table—as companies of all stripes look to succeed via sales strategy changes.
If you’re in the process of considering or planning a new sales force strategy, the following tips are for you…
The right way to structure a sales commission plan? It’s a question without easier answers. Business leaders have wrestled with the issue for centuries, as is evidenced by this New York Times article from 1914, How Should a Salesman Be Paid?