Just as Olympic athletes train to reach peak performance, so do sales teams. In fact, research shows, it takes an average of three months for a new seller to be ready to interact with buyers, nine months for them to be competent to perform, and 15 months for them to become a top performer (source).
But, just as there are less obvious factors that contribute to an athlete’s performance, there are less obvious factors that contribute to a sales team’s performance as well. In both instances, contributing factors that immediately come to mind are things like motivation and strategy.
If your sales team is struggling to hit their numbers and you’ve already considered training, enablement, technology, and other more obvious avenues, it might be time to take a look at your sales commission structure.
A good sales compensation strategy has the power to drastically improve sales performance. It can motivate your team, drive more of the right behaviors, and even improve employee satisfaction. But, how does a sales leader or finance professional go about designing a winning commission structure?
We’re so glad you asked! Today, we present to you, our latest infographic: Going for Gold in Sales. In this infographic, we go over the following ideas and concepts:
- The power of an effective sales compensation plan
- Establishing goals and objectives for your sales commission structure
- How to go about choosing the right compensation strategy
- Leveraging data to inform your decision-making
- And so much more!
If you’re ready to earn a metaphorical gold medal with your sales team, keep reading!
How to Design a Winning Commission Structure
And there you have it! A pocket-sized guide for designing a winning sales commission structure. It can’t be overstated how influential your sales compensation strategy is. From driving more of the right behaviors to motivating your reps to increasing employee satisfaction. There is nothing a good commission structure can’t help you achieve.
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Spiff is a new class of software that creates trust across the organization by delivering real-time automation of commission calculations and motivates teams to drive top-line growth. With a combination of an intuitive UI, real-time visibility, and seamless integrations into current systems, Spiff is the first choice among high-growth businesses. Spiff’s sales compensation platform enables finance and sales operations teams to self-manage complex incentive compensation plans and provides transparency for sales teams.