Ramping up Sales with Compensation Management
One of the most beautiful things about sales people is their inherent drive to earn more money through sales compensation. After all, money is the main motivator for sales people to come to work each and every day. As such, compensation has become and extremely powerful tool that companies can leverage to attract and retain top sales talent. When used properly, that is to align selling behaviors to company objectives, compensation management will fuel greater sales performance and productivity.
Keeping Sales Motivated
Keeping sales people motivated should be a major priority in driving sales performance and sales attainment. Sales people work excruciatingly hard to close deals in order to earn larger commissions. Ensuring that commissions are being paid accurately and fairly will go a long way towards keeping sales people motivated, engaged, and hungry to perform at a high level. In today’s ever complex selling environments, it has become increasingly important to automate compensation management systems within sales organizations. Keeping the complexity in check and maintaining a transparent, accurate structure will keep sales people motivated and bought-in to deliver the results that companies need in order to reach their revenue targets. The more accurate and transparent the compensation system is the less time sales people will engage in unproductive shadow accounting that takes them away from their main priority, to sell more.
Companies can drive sales performance with an automated compensation management system by ensuring that the incentives are geared towards driving behaviors that align with company objectives. Being able to quickly implement new incentives to drive the type of sales that make the most sense for your business, whether it be up-sell, cross-sell, new business, or a new product line, will keep sales on task to deliver the results you need. The flexibility of an automated system will also allow for you to respond quickly to changes in your selling environment.
As these changes are being made, it is important to use a system that has a robust modeling capability. In doing so, you can ensure that the changes, whether they be small tweaks or complete revamps, are positively impacting performance. With an automated compensation management solution you can integrate different data feeds to make your modeling even more powerful and accurate.
Download the whitepaper, From Lead to Money: A Step by Step to More Deals in Record Time, to learn more about driving performance with sales compensation management.