Having a challenging but fair sales compensation plan in place for your organization is a critical element to successfully meeting or exceeding your sales goals.
As most Marketing and Sales executives know, having a challenging but fair sales compensation plan in place for your organization is a critical element to successfully meeting or exceeding your sales goals. Sales teams must be stretched and challenged, but must also view management as being grounded in reality when it comes to setting quotas and sales compensation. They want to feel their plan is aggressive, but fair. A poorly developed sales compensation plan can destroy your team and sales results---a solid plan can make all the difference in the world.
Primary components of a Sales Compensation Plan developed by the NextGen Marketing Group™ are:
Analysis and Evaluation of Current Sales Compensation Plan
Documentation of Business and Sales Goals---What Defines Success?
Industry Benchmarks and Competitive Comparisons---Best-in-Class
Recommendations for New Program
- Quotas
- Incentive Pay
- Product Mix or Other Criteria
- Spiffs and Contests
- Structure and Business Rules
Financial Projections and Cost of Sales
Implementation Milestones and Timeline
