When it comes to sales and business, negotiating better commission deals is not just a chore but what holds your business together. It’s the ability to secure favourable terms that will push you further to overall success. In this third article of our “Mastering Your Commission Management” series, we will talk about strategies and tactics to help you negotiate better commission deals.

 

Understanding Your Value Proposition

Before you can negotiate effectively, it’s important to understand your value proposition. What skills, experience, or resources do you bring to the table? How do these skills benefit the company you’re negotiating with? By clearly voicing your value proposition, you can show why you deserve better commission terms.

Understanding the value you bring allows you to align your negotiation points with the interests of the other party. When both parties see the mutual benefits of a deal, it becomes easier to reach a favourable agreement. Remember, negotiation is not about getting the upper hand; it’s about finding a win-win solution.

 

Research and Preparation

Successful negotiation is built on research and preparation. Before any negotiation, take the time to gather information about the company, its competitors, and the industry as a whole. What are the market trends? What challenges is the company facing? Armed with this knowledge, you can use your negotiation strategy to address the specific needs and concerns of the other party.

It is essential to prepare your talking points and anticipate potential objections. What are the strengths you are offering? How will you contribute to the company’s success? By being prepared to address these questions, you can instil confidence in the other party and increase your leverage during the negotiation process.

 

Setting Clear Objectives

One of the most important parts of negotiation is setting clear objectives. What are you hoping to achieve through this negotiation? By defining your goals upfront, you can focus your efforts on achieving the outcomes that matter most to you.

Setting clear objectives allows you to measure the success of the negotiation. If you walk away from the table having achieved your goals, you can consider the negotiation a success, regardless of the specific terms agreed upon. However, it’s important to remain flexible and open to compromise to ensure a mutually beneficial outcome.

 

Building Rapport and Trust

Negotiation is not just about numbers and terms; it’s also about building rapport and trust with the other party. Establishing a positive relationship from the this can pave the way for a more productive negotiation process. Take the time to listen actively to the other party’s concerns and perspectives, and demonstrate understanding.

Also be transparent and honest in your communications. Trust is the foundation of any successful negotiation, and being upfront about your intentions and expectations can help create trust between both parties. Remember, people are more likely to agree to a deal when they trust the person they’re negotiating with.

 

Leveraging Timing and Context

Timing can also play a crucial role in negotiation success. Pay attention to the main factors such as market conditions, company performance, and industry trends. Is the company experiencing rapid growth, or are they facing challenges that may make them more willing to negotiate? By understanding the broader context, you can leverage timing to your advantage and negotiate better terms.

 

Framing Your Proposal

How you frame your proposal can really impact its effectiveness. Instead of focusing solely on what you stand to gain, prove the value proposition for the other party. How will agreeing to your terms benefit them? Will it help increase revenue, improve customer satisfaction, or drive business growth?

Always present multiple options or alternatives to demonstrate flexibility and willingness to compromise. By framing your proposal in a way that highlights the benefits and addresses the concerns of the other party, you can increase the likelihood of reaching a good agreement.

 

Handling Objections and Pushback

You will encounter objections and pushback during the negotiation process. Instead of viewing objections as roadblocks, see them as opportunities to further clarify your position and address any concerns the other party may have. Listen closely to their objections, and respond calmly and confidently with evidence to support your arguments.

Be prepared to negotiate on multiple fronts. If the other party is unwilling to agree on certain terms, explore other options that may still meet your objectives. Remember, negotiation is about finding common ground and reaching a mutually acceptable agreement.

 

Knowing When to Walk Away

Finally, it is good to know when to walk away from a negotiation. If the other party is unwilling to meet your minimum requirements or if the terms offered are not in your best interest, it may be time to reconsider your options. Walking away from a negotiation can be a difficult decision, but sometimes it’s necessary to protect your interests.

Before walking away, however, consider whether there are any remaining opportunities for compromise or alternative solutions. Is there room for further negotiation? By carefully weighing your options and considering the long-term, you can make an informed decision about whether to continue or end the negotiation.

 

Negotiating better commission deals is a vital skill for sales professionals. By understanding these steps you can increase your chances of securing favourable terms and achieving your goals. Remember, negotiation is not about winning at all costs; it’s about finding mutually beneficial solutions that satisfy the needs and interests of both parties. So go forth, armed with these strategies and tactics, and negotiate with confidence.

These days, precision and efficiency are important. Sales commission software has become an indispensable tool for organizations aiming to streamline sales processes and enhance overall performance. Let’s check out the top five reasons why your business needs sales commission software.

 

1. Reduction of Mistakes

Sales commission software acts as a wall against errors in the commission calculation process. Traditional manual methods are filled with the potential for human error, which can eat away at trust and lead to dissatisfaction. By automating the process with precise algorithms and predefined rules, this software ensures accurate commission calculations, fostering reliability and trust within the sales team. The automation also provides a transparent audit trail, serving as a valuable resource during internal reviews or external audits, thereby enhancing compliance and accountability.

 

2. Time Efficiency

In the relentless pace of sales, time is a precious commodity, and sales commission software becomes a strategic asset by creating efficiency. Traditional processes, involving manual data gathering and calculation, can be labor-intensive and prone to delays. By automating these tasks and seamlessly integrating with CRM systems and financial platforms, the software expedites commission calculations and offers real-time visibility into sales performance. The time saved translates into increased productivity, allowing sales representatives to focus on driving sales and making informed decisions. This efficiency not only streamlines the overall workflow but also enhances the responsiveness of the sales team to market conditions.

 

3. Achieving Sales

Sales commission software serves as a powerful motivator, aligning individual efforts with organizational goals. The clear link between sales performance and financial rewards creates accountability and ambition within the sales team. With the ability to implement customized commission structures tailored to specific business goals, the software allows organizations to align commission plans strategically. This flexibility ensures that the sales team is motivated to pursue critical and profitable avenues, contributing directly to the achievement of sales objectives. The software’s real-time performance insights enable organizations to identify high-performing sales representatives and replicate their success strategies, contributing to a data-driven approach to sales management.

 

4. Source of Truth

Sales commission software acts as the source of truth for all matters related to commissions, eliminating ambiguity and fostering a transparent sales environment. By consolidating all commission-related information in a single, accessible platform, the software ensures consistency in commission calculations, reducing the possibility of conflicting figures. The centralized repository serves as a valuable resource for strategic decision-making, providing comprehensive insights into commission trends, performance benchmarks, and payout histories. From a managerial perspective, the software promotes transparency in communication between the sales team and management, creating a culture of openness and accountability.

 

5. Transparency

Transparency is a cornerstone of effective sales management, and sales commission software plays a pivotal role in promoting openness within the organization. The software provides real-time visibility into commission calculations, enabling sales representatives to track their earnings and understand the factors influencing their commissions. Clear and accessible commission statements foster transparency in communication between the sales team and management, reducing ambiguity and building trust. This transparency extends throughout the organization, creating a collaborative environment where everyone is working towards shared goals with a clear understanding of the reward structure.

 

The adoption of Commissionly is imperative for organizations seeking to optimize their sales processes, enhance efficiency, and foster a results-driven culture. From avoiding errors to promoting transparency, the benefits of Commissionly extend far beyond mere automation, making it an essential tool in modern sales management. So why wait? Make your business the best with Commissionly!

In this world of business, effective sales management stands as a cornerstone for success. It is within this context that the significance of sales commission software becomes evident. This exploration aims to delve into the intricate workings of such software, its vital role in contemporary business practices, and how it catalyzes streamlining sales operations.

 

Understanding Sales Commission Software

 

Defining Sales Commissions

At their core, sales commissions represent financial incentives extended to sales representatives based on the volume or value of the sales they generate. This performance-centric compensation model serves as a motivational force, rewarding sales teams for their invaluable contributions to revenue generation.

 

The Evolution of Sales Commission Software

As businesses expand and operational complexities increase, the feasibility of manual commission calculations diminishes. Enter sales commission software, a technological solution designed to automate and optimize the entire compensation management process. In this realm, Commissionly emerges as a notable player, offering sophisticated solutions to meet the diverse needs of modern businesses.

 

Key Features of Sales Commission Software

 

1. Commission Calculation

At its core, the primary function of sales commission software is the automation of commission calculations. By seamlessly integrating with an organization’s sales and Customer Relationship Management (CRM) systems, this software accurately computes commissions based on pre-defined structures. This eradicates the potential for errors associated with manual calculations, thereby ensuring that sales representatives receive fair and just compensation.

 

2. Real-time Reporting

In the fast-paced realm of sales, the timeliness of information is of paramount importance. Sales commission software addresses this need by providing real-time reporting capabilities. This feature empowers both sales managers and representatives to track their performance and earnings instantly. The transparency fostered by real-time reporting cultivates a culture of accountability and enables sales teams to make data-driven decisions.

 

3. Customizable Commission Structures

Recognizing the diversity of businesses and their respective commission structures, sales commission software offers a crucial element: flexibility. Organizations can customize commission structures to align with their unique goals and objectives. Whether implementing tiered commissions, bonuses, or special incentives, the software adapts to the intricacies of different compensation models.

 

Implementation of Sales Commission Software

 

1. Integration with Existing Systems

Integral to the successful implementation of sales commission software is its seamless integration with existing business systems. Commissionly, for instance, exhibits the capability to integrate effortlessly with popular CRM platforms, accounting software, and other pertinent tools. This integration ensures a seamless flow of data, allowing the software to perform accurate commission calculations based on real-time sales information.

 

2. User-Friendly Interface

The efficacy of any software is contingent upon its usability. Sales commission software is no exception, and Commissionly, with its intuitive interface, ensures that both sales representatives and administrators can navigate the system with ease. This user-friendly design enhances overall efficiency and reduces the learning curve associated with the adoption of new software solutions.

 

3. Training and Support

To fully harness the benefits of sales commission software, organizations must prioritize training and ongoing support. Commissionly, in this regard, stands out by providing comprehensive training resources and responsive support. This commitment to customer success positions Commissionly as a dependable partner in the realm of sales commission management.

 

The Impact of Sales Commission Software on Business Performance

 

1. Motivation and Performance

A fundamental impact of sales commission software lies in its role as a motivational tool for sales teams. The transparent and timely nature of commission payouts instils a sense of achievement and encourages sales representatives to surpass expectations. This, in turn, leads to improved performance and increased revenue generation.

 

2. Operational Efficiency

Automation is a key driver of operational efficiency. By eliminating the need for manual intervention in commission calculations, sales commission software enables sales teams to focus on their core competency—selling. This operational efficiency is crucial for maintaining a competitive edge in the market.

 

Sales commission software has evolved into an indispensable tool for businesses aiming to optimize their sales operations and drive revenue growth. The transition from manual commission calculations to sophisticated, automated solutions like Commissionly reflects the ongoing commitment of organizations to enhance transparency, fairness, and efficiency in their compensation practices.

As the business landscape continues to evolve, embracing innovative solutions such as sales commission software becomes not just a strategic choice but a necessity for maintaining competitiveness. Commissionly, with its robust features and unwavering commitment to customer success, stands as a beacon in the realm of sales commission management, offering organizations a reliable and efficient solution to propel their sales teams toward greater success.

Whether a small startup or a large enterprise, adopting sales commission software represents a transformative step toward achieving sales objectives and fostering a culture of excellence within the organization.

In commission management, the imperative for Independent Sales Organizations (ISOs) to automate residuals cannot be overstated. Commissionly emerges as a transformative force, particularly addressing the nuanced challenges of residual splits. This article explores the criticality of automated residual calculations and analyses how Commissionly, as a cutting-edge solution, is reshaping the landscape for ISOs.

 

“Three Rules of Work: Out of clutter find simplicity; From discord find harmony; In the middle of difficulty lies opportunity” -Albert Einstein

 

Understanding Residual Calculations

Residual calculations serve as the strategic foundation of commission structures, particularly in industries reliant on continuous revenue streams. These calculations intricately hinge upon factors such as sales performance, team dynamics, and evolving business objectives. Manual management of residuals not only consumes time but also introduces errors that pose significant obstacles to business growth and team morale.

 

The Strategic Imperative for Automation

In the dynamic business environment, manual residual calculations can impede the agility necessary for ISOs to adapt to market changes. This section elucidates the pragmatic imperative for ISOs to embrace automation in residual split management, emphasizing the efficiencies gained through streamlined processes.

 

Commissionly’s Residual Splits Automation

Commissionly’s Residual Splits module emerges as a transformative operational pillar for ISOs seeking efficient automation of residual calculations. This section provides a comprehensive exploration of the platform’s key features and advantages, underlining why Commissionly is the optimal choice for ISOs navigating the intricate landscape of residuals.

 

Customization for Operational Adaptability

Recognizing the diversity of commission structures among ISOs, Commissionly places a premium on customization. This section delves into how the platform empowers ISOs to tailor residual split calculations based on specific requirements, fostering operational adaptability in a rapidly evolving business environment.

 

Real-Time Visibility

Commissionly introduces a paradigm shift with real-time visibility into residual splits, providing ISOs with actionable insights for informed decision-making. This section expounds on how data-driven approaches enhance competitiveness in an ever-changing business landscape.

 

Integration Seamlessness

Integration concerns often accompany the adoption of new software, yet Commissionly addresses this worry with seamless integration capabilities. This section intricately examines how the platform seamlessly integrates into existing workflows, creating a cohesive ecosystem that enhances overall operational efficiency for ISOs.

 

Overcoming Operational Challenges and Driving Growth

Commission management, particularly in the realm of residuals, extends beyond numerical calculations. It is about building trust and motivating teams for sustained success. This section delves into how Commissionly’s Residual Splits module plays a pivotal role in fostering a culture of fairness and collaboration within ISOs, establishing the foundation for enduring growth.

 

“If you want to be happy, set a goal that commands your thoughts, liberates your energy, and inspires your hopes.” -Andrew Carnegie

 

In the strategic realm of commission management, Commissionly stands out as a formidable ally, especially in the intricate domain of residual splits. By automating calculations, providing real-time visibility, and offering customization options, the platform equips ISOs with the tools needed to thrive in a competitive market.

As ISOs navigate the future, Commissionly remains a reliable partner, committed to innovation and excellence in commission management. ISOs embracing the power of automation with Commissionly aren’t merely adapting to change; they are pioneering the future of success in the dynamic realm of the payments industry. With Commissionly, residuals become more than just calculations—they become a strategic advantage, propelling ISOs toward unparalleled growth and prosperity.

Commission management is a critical component in an organization and relying on spreadsheets to handle it may become overwhelming. Without a thorough plan, most companies battle with poor performance which results in the inability to achieve their goals. Motivating and making it worthwhile for your sales representative will enhance the company’s gain.

Unfortunately, many companies make sales compensation faults and avoid putting best practices in place throughout the planning stage. These issues may not be obvious but will impact the company’s performance in the long run. To help your company avoid any mishaps here are 5 commission management mistakes with ways to recognize and avoid them.

 

1. Low Variable Pay Proportion.

The commission is what drives sales and the whole point behind commission is to help motivate your staff to close significant deals. The take-home pay of the sales representatives will affect their overall performance. A low proportion of variable pay will not drive and inspire your salespeople the way you would want.

Without a good enough commission pay out, there will be nothing pushing your sales representatives to go a step further. To enhance overall performance levels, it is highly suggested to plan out a worthwhile percentage for your sales representatives to take home.

“The key to realizing a dream is to focus not on success but on significance — and then even the small steps and little victories along your path will take on greater meaning.” – Oprah Winfrey

 

2. Mismatching Your Company’s Goals.

Sometimes even when your salespeople are meeting their targets it may result in a well-paid team that won’t meet the company’s goals. Issues may arise when the seller’s targets don’t meet the company’s priorities. A compensation plan that drives not just your salespeople but also your company forward will be more effective.

To create an effective plan, you will need to consider targets that will help the marketing and sales roles in the company. The commission is far more than closing deals and compensating sellers.

Developing an enabling environment will drive the business to fulfil both immediate and long-term growth objectives. It is important to keep your salespeople happy with their pay but not in a way that will result in the entire business suffering from a mismatch of company goals and sales initiatives.

“I had to make my own living and my own opportunity. But I made it! Don’t sit down and wait for the opportunities to come. Get up and make them.” – Madam C.J. Walker

 

3. Not Implementing a Multiplier Style Compensation.

Having a commission rate that doesn’t change or multiply based on the sales representatives’ efforts will result in low performance. Having a commission rate that doesn’t meet their efforts shows the lack of growth for the person at hand.

Implementing a multiplier compensation style will help drive your sales representatives’ performances. The way to implement this style is to consider increasing their commission rate based on the deals they close. This helps motivate the sales representatives to sell above quota.

If the quota is impacting the company in a good way, then showing your appreciation will drive your sales team to do even better in the future. This will help avoid any issues arising from your staff and keep an overall happy team.

“The most difficult thing is the decision to act, the rest is merely tenacity. The fears are paper tigers. You can do anything you decided to do. You can act to change and control your life; and the procedure, the process, is its own reward.” – Amelia Earhart

 

4. Not Adjusting Your Sales Commission Plan When Your Business Grows.

Building a commission plan can be challenging but keeping up with the pace of the market will help your business. Keeping up to date with the market will help make your sales representatives feel more valued. Also allowing your sales team to give feedback will help create a more effective commission plan.

Before going headfirst into a new plan, it is best for certain salespeople to understand the market price. One of the most basic steps to take when creating this plan is to include basic elements such as amendment, eligibility, philosophy, and payments.

Once gathering your new research and critical feedback it is best to start putting your new plan together by balancing the stakeholder and employee needs. Give yourself time to create the perfect plan that matches your business’s current level. Be sure to think through each decision before committing to it.

“For my part, I will never give up, and I mean never.” – Elon Musk

 

5. Not Implementing a System like Commissionly.

When facing many common issues in your business it’s best to have software where you can access everything in one area. Implementing software will not only make your life easier but will help your sales representatives track their progress. This type of software will help find a solution that will evolve with the company.

Commissionly will also help you track unpaid commissions which will help the company avoid any uncertainty within the sales team. It provides many other features that can simplify most of the issues at hand. Taking away spreadsheets that can become a mix-up and implanting a simple system will benefit your overall business.

To avoid any problems in the future, implement a system, keep your sales team happy and your company’s overall performance levels at a high with Commissionly.

“Quality performance starts with a positive attitude.” – Jeffrey Gitomer

 

These are a few commission management mistakes you may face in your business. Implementing the given solutions will help create a better environment within not only your sales team but the entirety of the organization. Finding a system that will take away most of your management problems will result in less stress and happier employees.

When it comes to success in the crowded payment processing space, scale is everything. By working with more agents, your growth is exponentially enhanced. But more individuals active within a commission-based business model necessitates a calculation system that can scale alongside your own success and expansion.

Agent mapping is the process of accurately mapping your agents to the customers MID number, Name or Code for the deals that they are responsible for, as you import transaction data into your systems. It goes without saying that within this process efficiency and accuracy are of paramount importance.

In this article, we’ll explore agent mapping (one of the more tedious and time consuming aspects of working with agents!) in more detail, and suggest a modern and reliable solution that can help payment processors and larger ISOs to solve this nagging problem – for good, and no matter how rapidly they scale.

 

The State Of Modern Payment Processing

Let’s start by examining the stakes. Payment processing is rapidly growing as we hurtle towards a cashless society, accelerated by advances and behavioural changes brought about by the recent global pandemic. Demand is increasing, and opportunities are expanding. In fact, the payment processing sector is predicted to grow at a fairly staggering compound annual rate of 10.2% between 2021 and 2026.

What does this mean for providers? With luck, an increase in interest within the sector from aspiring agents. With money to be made, we can reasonably expect an uptick in new agents seeking processors to partner with. This will be paired with a higher demand for the more experienced veteran agents working within the space. In short, it’s an excellent time to review your appeal from an agent perspective.

In order to excel, payment processors need to be more competitive and more efficient than they’ve ever been. This is especially true when it comes to the way that they work with their agents.

Happily, benefits here tend to cut both ways – what’s good for the goose is good for the gander. When processors operate more agent-friendly practices, as well as winning their approval and loyalty, they also start to see better results from their workforce. By providing agents with an infrastructure that sets them up for success – prioritising their convenience, efficiency and power to earn – payment processors set everyone up for increased success.

Although frequently overlooked, agent mapping is an area in which investment can make a real impact – to an agent’s experience, and by extension, to a processor’s bottom line.

 

Agent Mapping: What Needs To Change?

Agent mapping refers to the practice of correctly identifying the work that each agent has done, tracking sales and transactions that can be attributed to their accounts. Commissions due are calculated based on the outcomes of agent mapping so it isn’t hard to see why a reliable agent mapping process is an essential element to any commission-based business model.

Historically, this has been a complex and error-prone process. Working manually, relying on spreadsheets and lacking all the advantages of advanced automation, agent mapping is wide open to a high level of discrepancy. These issues become particularly pertinent when there are ambitions to significantly scale an operation – adding more agents, more sales, more transactions – or (with luck) all three to the equation.

Why does investing in a more solid procedure for agent mapping matter? Firstly – internal efficiency. High frequency data input with very little tolerance for error makes agent mapping the perfect candidate for a more automated process. Instantly eliminate the margin for human error and make it easier to track successful agents versus those who are struggling.

Secondly, an asset that’s hard to win, easy to lose and impossible to buy – trust.  Agents will rapidly lose faith in a processor if they’re seeing inconsistencies in their commission payouts, at best, perhaps becoming a little demotivated – at worst, switching their allegiance to a competitor and damaging your reputation by retelling their experience.

 

How A Commission Calculator Helps With Agent Mapping

With so much at stake, turning to technology is the obvious solution. Amongst a wide range of other features customised to meet the specific needs of the payment processing industry, Commissionly offers automated agent mapping. This ensures that every sale and transaction is faithfully mapped to the responsible agent – giving them accurate remuneration, and processors a process that offers more clarity, efficiency and ultimately revenue.

Saving time, money and (potentially!) your reputation, automated agent mapping comes  in addition to a whole range of additional features that help achieve similar results – such as the ability to consolidate data from multiple acquirers, access to custom reports and the ability to automate your commission calculations.

Another significant advantage of working with Commissionly for agent mapping is that multiple features can be accessed from one platform – no switching tools or juggling permissions, log ins and forgotten passwords. Just a simple, intuitive “one stop shop” for all your payment processor commission calculation needs. Our team works with your business to personalise the experience to your exact requirements, to get you up and running in as little as four weeks.

 

Payment processors – it’s time to automated your agent mapping

Payment processing is experiencing rapid growth. The opportunity to scale alongside the sector’s acceleration is significant – but those who try to do so without the backup of a dependable technological stack, designed to support their trajectory, run the risk of rapidly overextending their operational capacity.

Now is the time to double down on your digital toolbelt, automating as many time-sucking processes as possible and ensuring a more profitable future, for happier agents and healthier margins.

 

Book a call with Commissionly to discuss our agent mapping feature and more

 

RevOps within digital marketing is on the rise – rapidly becoming an established norm when it comes to internal operational management. What exactly is meant by RevOps? A contraction of “Revenue Optimisation” this term refers to an operational model designed to ensure that a business’s capacity for revenue generation is maximized. As ever, our integration partner HubSpot has some excellent resources to help you learn more about this model.

 

A RevOps approach seeks to instill full cooperative alignment between alignment of marketing, sales, and customer service teams. Rather than operating in isolation, before passing off a lead or established customer to the care of a separate team acting in isolation, a “flywheel” model is established. All teams work in closer collaboration, with a focus on end-to-end customer experience, seamless workflows and integrated systems. This removes friction and supercharges a business’s ability to scale.

 

In the case of digital marketing agencies, the benefits of an active RevOps strategy are twofold – better internal agency collaboration and outcomes, at the same time as improving client satisfaction and success. Within this article, we’ll outline some of the ways in which RevOps looks set to improve the landscape for digital marketing agencies today, and in the years to come.

 

RevOps For Digital Marketing Agency Internal Alignment 

RevOps can be implemented to help to bring a digital marketing agency into better internal alignment. Within the traditional RevOps model, accountability stops becoming a siloed practice. Instead, your account managers and support team gain better “full picture” insight into client success, measured across a wider range of metrics and markers.

 

The cyclical RevOps model means that this improved insight feeds back into sharper, more accurate marketing recommendations for clients. In turn, this helps to build up a more holistic understanding of the way that different agency teams collaborate and depend on each other’s outcomes.

 

For example, marketing team members learn about common pain points and blockers from the sales team, and are able to incorporate this into their own planning going forward.

 

Improved Digital Marketing Sales Attribution 

Knowing exactly where your success is coming from is essential within the setting of a digital marketing agency. By helping bring clarity to a dynamic process that relies upon the input of many different teams and individuals, RevOps can help improve attribution when it comes to sales success.

 

Everyone working towards your clients’ success will have a better idea of what’s working in the context of “the bigger picture.” This does more than simply helping you work out more productive, collaborative workflows – it can also have a really positive impact upon  team cohesion and motivation.

 

Digital marketing agencies are always on the lookout for ways to improve their marketing sales commission structure – by making it more efficient, more commercially appealing – or, most probably, all of the above! By adopting a RevOps model, you can apply the deeper insight gained into the roles that everyone played towards a closed deal, and translate this into a fairer compensation structure.

 

Multistage commission is a great way of ensuring that everyone involved in a deal is getting fair payment for their contribution, in a timely fashion. Commissionly’s multistage commission feature enables you to pay commissions at different stages of your sales and delivery process to different payees – keeping your teams motivated with well-timed, fair compensation for their input.

 

Enhanced Client Experiences 

The RevOps model is increasingly commonplace across a wide variety of client or customer based businesses. As a result, by adopting these principals internally, you’ll be able to “speak the same language” as your clients, who are more than likely very familiar with the benefits of such a model, and putting them into practice within their own businesses.

 

This helps to build trust and increase the likelihood of cross selling and upselling, as you gain a better understanding of their pain points and business models – and, perhaps most importantly, see how your input as an agency sits within their wider business model. An active RevOps strategy also helps to demonstrate your interest and commitment to your clients’ end results, through better account expansion and improved customer-focused campaigns.

 

Once established, a RevOps model just gets better over time. Thanks to its cyclical “flywheel” structure, improvements feed back into the start of the process. Client experience is improved in a way that is consistently demonstrated over time – no quick fixes or emergency measures – just a great, holistic agency experience.

 

Eliminated Tech Silos 

The smart leverage of data is essential to success within a digital marketing agency environment. With the rise of MarTech, this is becoming increasingly essential, as a wide variety of tools give us insight into our campaign and client success metrics.

 

By combining marketing and customer success data, RevOps enables you to see which campaigns are resonating at the same time as highlighting the elements of your marketing mix that are having the greatest impact in terms of the outcomes clients are looking for.

 

As an agency, you can leverage this insight to improve post-purchase marketing experiences (i.e. offering your clients more than just lead generation or traffic.) Data can be put to use shortening purchase cycles and accelerating sales. Commissionly is a great example of a solution that can help to power a strong RevOps strategy, allowing easy integration with a huge range of CRMs to ensure that you’re able to easily join the dots between client success and team commissions.

 

Improved Agency Success Metrics

Finally, let’s not forget the tangible lift that RevOps can bring to a business in terms of success metrics. In 2020, the Boston Consulting Group found that B2B companies implementing RevOps accelerated their revenue growth and operations efficiency with a

• 100% – 200% increase in digital marketing ROI
• 10% – 20% increase in sales productivity
• 10% increase in lead acceptance
• 15% – 20% increase in customer satisfaction
• 30% reduction in expenses

 

 

This is especially important and relevant within a digital marketing agency context, where businesses are typically looking for long-term, steady accounts that are retained with minimal effort, allowing for customer relationships that continue to grow and strengthen over time.

 

RevOps For Digital Marketing Agencies: Get Ahead

RevOps represents a real opportunity for digital marketing agencies to improve outcomes and streamline their internal processes. More effective interdepartmental communication leads to better collaboration and attribution of success.

 

By pairing a solution like Commissionly alongside the RevOps approach, you can ensure that all effort is appropriately rewarded, showing your respect and appreciation for multiple agency teams, pulling together to help bring your business great results.

 

With a focus on streamlining customer experience, and allowing for better personalisation at every stage of their journey, it’s no surprise that RevOps is increasingly being heralded as the secret to account-based business success. Digital marketing agencies have so much to gain from his model – especially when it comes to marketing sales commission structure, and motivating a commission-based workforce to see the bigger picture within an agency environment.  

Looking to kick sales up a gear? 5 Tips For A Highly Motivated Marketing Sales Team – See our next blog …

If you’re running your digital marketing agency on a commission basis, you’ll be aware of the many benefits that this kind of remuneration model can bring. Payment via commission has long been a popular option for marketing agencies, and can be a great way to ensure you’re motivating your sales team.

 

However, “commission” is a very broad term – and covers a huge variety of structures and nuanced plans that can (and should) be tailored for your business and its unique situation. Failing to pay full attention to the effectiveness of your commission structure can result a number of common issues that can cause a business to lose money or become less efficient.

 

This might be as the result of a less motivated sales team, the lack of the right incentives within their agent base, or as the result of poor back-office processes that create problems around calculation and management of commission.

 

In this article we’ll give some clear guidance on marketing agency issues to watch out for – and some advice on how to fix them within the context of your digital marketing agency commission structure.

 

1.  Too Little Flex In Your Digital Marketing Agency Commission Plans 

Don’t underestimate the importance of creating an adaptable commission framework that can flex to meet the evolving needs of your marketing agency. The typical marketing agency environment will involve many varied clients, deals, accounts opening, closing and reactivating. Similarly, you might find you have multiple agents working on accounts, with varied (or interlinked) responsibilities for success. 

 

In order to ensure that everyone on your team is rewarded in a timely manner that reflects their input and hard work, you need to find a way to appropriately scale commission payments and incentives in a way that will adapt to the changing nature of the targets, opportunities and expectations that your agents encounter.

 

This is easy to agree with – but often harder to implement. Juggling a high performing team and multiple client accounts can make the ability to apply a complex (and ever-evolving) commission structure a practical challenge.

 

Working with dedicated cloud-based commission software such as Commissionly helps makes the roll out and management of personalised, adaptive commission structures much more streamlined. Our multistage commissions feature allows you to compensate various team members for their individual contributions as a deal progresses. To make things even easier, this process can be automated with your CRM of choice, such as Salesforce, Hubspot, Zoho and many others.

 

Similarly, our commission criteria filtering feature allows you to easily set commissions to pay only when certain criteria are met – perfect for the times when you need to pay different commission rates to your agents based on criteria, such as a different rate for new business or renewals.

 

2. Complex Commission Calculations Taking Hours To Manage

A responsive and nuanced commission structure is essential – but, as we’ve already hinted at – it needs to be manageable, and easy to deliver. Automation is your friend when it comes to taking the legwork out of hours of complicated commission calculations. Not only will you save time, you’ll also sidestep many of the issues associated with manual tracking and calculation, which can be much more prone to error, as well as a drain on resources that could be put to better use elsewhere.

 

Spreadsheet based management of commission is common, but it can only get you so far. Any frustrations or issues that you experience with your current system will only scale in line with your business as you expand and your team scales up.

 

Commissionly helps by offering a range of automations that take hours out of the day to day tracking, analysis and calculation of commission. These automations go beyond the “commission wizard” (which helps you quickly set up complex commission structures – whether they are flat or tiered, revenue, profit or product based). Powerful integrations with your CRMs, ecommerce platforms and more can also save huge amounts of time in assigning attribution and tracking performance.

 

The sales splits feature is another great example of the features that Commissionly offers to help manage processes that would otherwise be tricky and time consuming. Easily set up pre-defined sales splits to ensure that everyone automatically gets allocated the right amount of commission due for their role in a sale.

 

3. Calculation Errors (And Issues Resolving These)

The management of nuanced marketing sales commission plans can be complex. If you’re tracking and calculating manually, relying on Excel, problems can occur. When something goes wrong, your agents are inconvenienced, and time is lost as you work to fix the error. You also erode the trust your team has in your commission process – meaning you run the risk that they’ll be spending more time pouring over their calculations, and less time out in the field selling!

 

What safeguards can be put in place to try to reduce the wrong calculations being made in the first instance – and what can be done to ensure that the process of putting these problems right is smooth, transparent and fair?

 

Commissionly’s clawback feature is a game changer here, and can help within the context of  marketing sales. Again, offering all the time-saving advantages of automation, this feature enables changes to your payouts to be easily and swiftly calculated and put right, minimising the negative impact of an incorrect payment as the result of incorrectly reported financials or a client who bounced before the predetermined retention period.

 

4. Unresponsive Plans Leading To Demotivated Agents 

To avoid a stagnant, demotivated atmosphere within your marketing agency sales team, it is important to learn from your data and results, adapting your commission schemes accordingly – and to show your team how things are changing. What’s serving your business, your clients and your agents best? There’s a real need to ensure open communication and lots of transparency with your agents when it comes to the “why” of their commission scheme.

 

Commissionly’s CRM integrations help to shed more light on these situations by joining the dots between performance and payment. Another benefit of the Comissionly dashboard is the ability for agents to easily access their earned commissions to see how calculations have been formulated. This helps you give complete clarity here. Again – you want your agents out selling, not trying to figure out how and what they are getting paid for!

 

5. No Cloud-Based Commission Software 

Finally, consider the disadvantage you might be placing your agency by failing to work with a cloud-based commission system. The ability to access your management system from any device has never been more important – in fact, in the modern day workplace, this is a baseline expectation. Access to your commission dashboard at all times brings benefits to your management team, but also to your agents, as they can track progress and gain motivation at any time, from their own mobile devices.

 

With the spread of digital transformation and the accelerating impact of the pandemic, cloud-based solutions are a necessity for modern business – and especially important for something as critical as commission management, which is powering your marketing sales business’s success.

 

Ready To Take Control Of Your Digital Marketing Agency Commission Management?

Commissionly saves its users countless hours and removes endless frustration from the process of calculating, adjusting and processing commission based payments. Clients report the platform saving “huge amounts of time on calculating commissions” and allowing them to “set targets for my team that they can see at a glance.”

 

Described by one user as “a simple, stand-alone yet highly functional approach to managing commissions,” Commissionly frees you to repurpose your time and focus, meaning you can focus on optimising your commission structures and learning more about what motivates your agents etc.

 

Offering dependable ROI, the benefits of cloud-based commission software like Commissionly keep expanding over time and use – a safe investment that will revolutionise your commission management and remove barriers to your marketing agency scaling over time.

 

Ready to explore your free trial? Set up in 5 minutes – with no credit card details required.