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How to Stop Spending Money on Under-Performers
“It’s Not What You Pay a Man, But What He Costs You That Counts.” — Will Rogers How much money have you spent on bad hires, poor training, and ineffective management? The effects of a failed...
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Team Maintenance: Creating Top Sales Reps from Middle Performers
If your organization is like most, your company’s instinct may be to focus sales training on two distinct groups — top performers and poor performers. But research suggests this approach might be...
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Sales Reps Who Can’t Beat Quota — Ring a Bell?
Each year, the United States spends 800 billion dollars on sales compensation — almost three times more than is spent on advertising. With so much money being invested in rewards, you might think that...
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Timing Is Everything: Why it Pays to Measure Performance Frequently
Sales leaders must always come up with new ways to motivate their teams. From putting new spins on traditional sales contests to implementing gamification tactics into their overall strategies,...
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Get More Bang for Company Bucks by Personalizing
In a recent LinkedIn article, Richard Rosenblatt, CEO of Demand Media, shared the sixth rule of motivation from his series of articles focusing on what he calls the 10 Rules I’ve Learned and Live By...
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The Real Price of a Rock Star: Recognize, Automate and Compensate to Retain...
Would it shock you to know that your rock star sales reps, roughly 20% of your team, are achieving 80% of your revenue? Xactly analysis derived from over 500 companies shows this is the reality that...
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Raise the Performance Bar, and Make it Worth It
A college track coach who sets the high jump bar no more than 5’10” will train his athletes to clear it. But it’s doubtful they’ll go much higher. Since the athletes only need to clear 5’10” to be...
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Out of Breath in the “Last Mile” of Finance? Three Good Reasons to Automate
What kind of shape are your finance leaders in as they enter into the “last mile” of finance? The last mile of finance refers to all the steps a publicly traded company must take to close its books...
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What Do You Spend on a Single Sales Deal?
Be honest. How much time did you spend on Superbowl Sunday talking about the cost of a single advertisement, and whether or not it was worth the money? Probably a fair amount. Yet it’s quite possible...
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Beware the Revolving Door: Knowing When Turnover Is Likely is the First Step...
Turnover is costly. A study conducted by the Society of Human Resources Management (SHRM) estimates that direct turnover costs are 50-60% of employee salary. When you take into consideration that 20%...
View ArticleWhat the C-Suite Needs to Know About Sales Incentives
Complimentary breakfast briefing. “What Your CEO Needs to Know about Sales Compensation,” by Mark Donnolo, is the first book to address sales compensation challenges from a C-suite perspective. It...
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When Structuring Your Sales Team, Take a Lesson from the Marines
A U.S. Marine Corps rifle platoon is typically comprised three squads of 13 men — three fire teams of four men each, plus a squad leader. Every Marine (from pilot to artillery to quartermaster) is...
View ArticleDoes Your Sales Team Have Too Many Layers? Use Your Data to Get Lean
In a previous post, we talked about the challenges faced by overwhelmed sales managers with too few management layers below them. These managers often have so many cats to herd that they aren’t able...
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Are You Wasting Good Sales Leads on Bad Reps? It Might Be Time to Say Goodbye
According to a report published by The Bridge Group, a Massachusetts-based sales strategy organization, 42% of companies it surveyed said that less than 50% of sales reps were meeting or exceeding...
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Tweak Your Compensation Plan, Control Revenue Spiking
When Xactly shifted its fiscal year by one month, ending the last quarter on January 31 instead of December 31, leadership wasn’t surprised when revenue spikes also shifted by one month. This shift...
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The Sales Exec’s First-Quarter Incentive Compensation Checklist
Business experts and analysts love to compare fiscal quarters to those of a football game. So there is plenty of advice out there on how you can “save the game” in the fourth quarter with last-minute...
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Finance Leaders, Learn More from Your First Quarter
Spring is when many companies announce first-quarter results. If your company is one of them, you’re hoping to inspire investor confidence with results that show healthy growth and progression. Of...
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CEOs, Help Your Growing Business with Q1 Check-Ins
Congratulations, Q1 has just finished and you’re ready to release results to your stakeholders. How did you fare? As the CEO of a growing business, lots of work went into trying to achieve your goals....
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Sales Comp Errors Cost You More Than You Think
We all make mistakes in business, regardless of how conscientious we might be. But compared to the errors we’re capable of making — you know, the life-altering ones — sales compensation errors rank...
View ArticleMore Action More Often: The Secret to Sales Rep Motivation
As a sales leader, you’ll do just about anything to motivate your teams to meet goals — tantalize with bonus programs, promise trips and technology, even utilize games and contests designed to kick...
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