Designing Sales Compensation Plans

| January 3, 2017

article image
Designing successful incentive compensation plans is a much an art as it is a science. You have to start with a base of data-driven insights and strategic design choices, utilizing benchmarking data and best practice thought leadership to ensure success from the get go. But for all the tactical and strategic planning that goes into setting yourself up for growth and progress, no plan will ever truly push the envelope from good to great until it layers on an understanding of the roles and systems present on the human end of the equation. Automation is the way forward when it comes to comp plan design, but automation doesn’t mean inhuman – the system as it stands still rises and falls on the back of the workforce that engages with it, and without those thoughtful design elements which consider realistically the different roles and scenarios present in the workplace, the system won’t ever achieve its total potential. Only with rock solid insights and strategic planning can you truly inspire performance with your compensation plans.

Spotlight

Above Digital

Established in 2004, Above Digital is a full service digital marketing agency that specialises in Lead Generation. With over 11 years of experience under our belt, we have helped numerous companies reach their target audiences and convert prospects into customers.

OTHER ARTICLES

The 6 Best Digital Sales Prospecting Techniques

Article | October 14, 2020

A full sales pipeline is a goal for many organizations. But the reality is that it can be difficult to keep the pipe flowing, especially with high quality leads. For most sales reps, prospecting likely isn’t their favorite part of the job. It takes a lot of time and effort to identify and develop leads, but prospecting is essential. Without buyers to sell to, there really isn’t any point to having a sales operation. That’s why it’s important for your sales team to have a wide skill set when it comes to prospecting. The more sales prospecting techniques a rep knows, the more effective they are in driving interest, and ultimately revenue.

Read More

Six Content Assets to Help Your Sales Team Close More Deals

Article | August 13, 2020

Together with the evolution of buying processes and consumer behavior, the way marketing and sales teams function has also undergone a massive shift.Today, the key to B2B success boils down to strategically aligning both teams.An important element of alignment comes in the form of quality content that Marketing equips Sales with and focuses on educating and engaging prospects and guiding them down the funnel.However, it's alarming to note that 65% of sales reps say they can't find content to send to prospects. And that's where you as a marketer can come in to bridge the gap by creating valuable content that empowers sales representatives to accelerate the sales process.

Read More

City Beach Pivots to Adapt to Changing Customer Behavior

Article | August 10, 2020

When consumers shifted to online-only shopping, City Beach was more prepared than a lot of other retailers. Not only had City Beach invested in e-commerce long before the pandemic struck, but they were observing real-time customer behavior and making wise inventory decisions to meet the demands of customers and still deliver business results. Alex Timlin (SVP Verticals, Emarsys) spoke with Mike Cheng (Head of Digital, City Beach) who shares his take on e-commerce and changes in customer behavior prompted by COVID-19, including: How critical a retailer’s e-commerce strategy is for engaging customers, Watching real-time trends to manage inventory in a profitable and customer-centric way, Why focusing on an excellent customer experience leads to greater long-term engagement than focusing on the conversion rate.

Read More

6 Effective Ways to Stay Ahead of Your Competition Using Social AI

Article | March 15, 2020

MarketsandMarkets forecasts that by 2023, AI in the social media market will be worth $2,197.1 million. Why is this? Because the adoption of AI technology in the social media sector has increased. A growing number of marketers are using it to scale up their social media efforts. With so many businesses using social media today, it’s hard to stand out. It has also become tougher to connect with social media audiences. Social media marketing activities are also no longer restricted to just posting content and responding to comments and messages. Brands also need to keep up with customer service, marketing, ecommerce, and so many other things on social media.

Read More

Spotlight

Above Digital

Established in 2004, Above Digital is a full service digital marketing agency that specialises in Lead Generation. With over 11 years of experience under our belt, we have helped numerous companies reach their target audiences and convert prospects into customers.

Events