Where Are You With Your SPM?
As head of sales operations I constantly work to drive efficiencies within my sales organization and advise customers on the same. Along the way, I’ve noticed something that never fails to shock me: even very high-tech large enterprises often rely on largely manual Excel-based systems to manage their sales reps’ commissions and compensation. Needless to say such systems are slow, reactive, and only tackle immediate challenges; they are not really forward looking and fail to successfully drive model selling behaviors. No matter how convenient Excel may seem, don’t let your sales folks be stuck with something so yesterday. Of course, there is a better way to do sales in a marketplace that is being redefined by all things digital. Where are you in the Sales Performance Management (SPM) roadmap? Where are you in the curve and where do you want to go? Companies that succeed don’t look at SPM as a short-term single blast exercise. Think of it as a multi-year, multi-phase activity that matures as you take each step; from compensation administration to quota and territory management, sales analytics to coaching and gamification. As companies grow fast and scale, these are not just nice to have, but can bring tangible results. For instance, sales quota and territory management software that allocates leads to reps based on best practices can increase sales over 5% from existing resources. Take another example of coaching: CallidusCloud research shows that reps who receive at least three hours of coaching in a month achieve 107% of quota. Think about it, are these benefits you can ignore? If you are you looking for a framework to step up your SPM game, David Kohari, VP of Strategic Services and Customer Success at business consulting firm Canidium presented a great one at our recently concluded annual customer conference, C3. Take a look at the presentation and pave your way to a more efficient and higher performing sales team.