Remember when Whitney Houston came out with her big hit, How Will I Know? (If you’re too young, just pretend this isn’t a thirty-year-old pop culture reference.) The song asks you (“cuz you know about these things”) to confirm whether or not Whitney’s in love, for real. And it’s a good question…
Just as love can be deceiving, ineffective sales commission plans aren’t always obvious in their flaws.
Is your sales compensation analyst using spreadsheets to administer commissions? Lots of emerging companies are still saying yes to this question—some even Googling phrases like, “how to calculate sales commission in Excel.” If you’re one of them, we hope you’ll keep reading…
Looking for advice from today’s leading commission consultants, sales authors, and sales management experts? We happen to know a few guys (and girls) who wrote the book on sales compensation—literally.
We’ve been lucky enough to meet most of the folks on this list. Others we just admire from a far (in an information-seeking, non-creepy way). Add them all to your “Commission Consultants” or “Sales Expert” Twitter list.
As the midpoint of your fiscal year approaches, you may be seeing some alarming trends. Either too many of your sales reps are below quota, or too many have surpassed it—and now you’re realizing just how expensive your current sales comp plan is going to be or how far off your revenue targets you really are.
What the biggest secret complaint among sales reps (that nobody is talking about)? Most sales commission plans stink. Reps don’t necessarily expect a higher base pay. But they do expect their incentive pay to match their sales performance.
The Internet offers loads of advice on how to ask for a pay raise. As a sales rep though, you’ll probably run into some unique challenges when you approach your employer about compensation.
Customers are getting smarter every day. Armed with online product research and user ratings/reviews, they typically enter the sales process with more information than some of your newer employees.
At Cornerstone, there’s nothing we love more than a good sales compensation debate. And after several decades we’ve enjoyed some heated ones—amongst ourselves and with business leaders in our networks.
A favorite topic of debate: setting sales quotas for individual reps.
Do individualized quotas make you nervous? Are you worried about upsetting your top performers?
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.