When it comes to sales performance goals, there are many different aspects to consider. One of those is the current trading conditions of the industry. For most industries, there are going to be times when there are slow periods.

During these times, it can be hard to motivate your team. Sales teams that aren’t motivated will often fail to meet sales performance goals. And this can be a problem in the long-term.

If this happens, your business’s performance can be worse than expected. And some staff might think they’ll lose their jobs during one month of bad performance.

The key to this is to keep motivation high when times are tough. So, how do you do this? Here are some of the top solutions.

1. Non-monetary rewards

A great option is to add non-monetary rewards. These can be applied to work such as the time spent on the phone, adding new leads to the database, etc. Such a reward need not be linked to the conversion of sales (that is “rewarded” with sales commission), it is rather rewarding tasks that may be neglected. Keep in mind that such tasks can still be monitored in sales performance software.

Some Good examples might be an extra hour off at lunch or food hampers. Having some non-monetary rewards, allow for the effectiveness of the sales commission to still be maintained.

2. Run team-building exercises

Team building exercises can be a great way for your team to come together and face the slow times as a community. They can build communication skills, learn vital selling skills and even have some fun. All of these build on the effectiveness of the sales team.

It’s also good to arrange team-building exercises during quiet periods. Then you won’t disrupt the successful run of sales and restrict the team’s earning potential. It also means they could exceed sales performance goals and feel better about their skills.

3. Good leadership

The importance of leadership is really vital during slow periods. A good leader will continually communicate with their staff and remind them of their skills and/or value during the good and bad times. You can use comparisons to the past year’s slow period and show any sign of sales improvements since then.

Leaders should always be present. Team members can feel more confident when they see the leadership team taking an interest in their everyday work. When out and about, talk to your team and ask them how they are going. You can offer guidance on how they can improve and meet sales performance goals. And if you are unable to be in the office together, then do the same through conference calls, emails, etc. The team needs the communication, while stuck at home, more than ever to get through bad times.

All businesses have good times and bad times. During the good times, you should push them to maximise results. This ensures that during bad times, you can build on the skills of your sales team and keep spirits high, preparing for the next busy season.

Incentive compensation is a form of pay structure which is based upon how the business and its individual employees perform. Essentially, employees receive a base salary with an extra reward (tallied up using a sales compensation calculator) for meeting specified targets. There are multiple performance metrics that can be used to determine which employees qualify for commission.

Create and track incentive compensation

When developing your incentive compensation plan, your decision-makers will need to work hard to create a system which attracts the best sales talent, motivates and encourages the right business decisions. However, incentive compensation plans can become complicated, particularly when they involve several different performance measurements – or if you have different employee levels, for example. Your sales compensation calculator within Commissionly can help speed up the process.

The benefits of incentive compensation

Incentive compensation is incredibly effective when it comes to encouraging desired behaviour in employees. It allows organisations to promote upselling, incentivise customer interaction and the use of a variety of different sales techniques.

Here’s how a sales compensation calculator within our compensation software could help your company to benefit:

Help align your incentives with your business objectives.
• More likely to meet long-term and short-term targets of the business.
• Focus attention on the behaviours and working culture of the business.
• Encourage your teams to plan ahead and highlight any expectations.
• Attract more sales-driven candidates for vacancies within your business.
• Save money related to salary rises through the allocation of funds for when goals are achieved.

Creating the perfect incentive compensation plan

While incentive compensation is a great concept for improving productivity, it can be difficult to implement without the right commission calculation software.

It’s virtually impossible to manage different commission parameters with manual systems or spreadsheets. This is where a sales compensation calculator comes in. With our commission calculation software, your organisation can ensure that employees are rewarded accurately and on time, to help keep them motivated to continue hitting those all-important sales targets.

For more information on how Commissionly could help you to develop your incentive compensation strategy, please do not hesitate to contact us today.

When it comes to making sales performance goals, staff need every advantage. While phoning endless leads, whether they’re hot or cold, is the traditional route, it doesn’t always yield the best results. It can also be very stressful.

Modern technology can come to the rescue. For managers, there is excellent commission software, and for salespeople, there are new ways to generate leads and build strong connections that can reduce the sales process and improve conversions.

So, in what ways can modern technology be used to help staff meet sales performance goals? Here are three ways.

1. LinkedIn

LinkedIn is a very common way that sales people can actually find leads online. The social media channel has a lot of important information on it that can help identify and communicate with social media users who are decision-makers within their businesses or homes.

Just a few minutes a day and salespeople can connect with dozens of people and communicate with them quickly. Salespeople can prepare three or four standard messages they can use to introduce themselves and the services offered. These can be used to start conversations.

2. Blogging

Research has shown that blogging can result in higher lead generation (up to 67% more leads than not blogging). And sales people can get involved. If they write just one blog post per week, they can get traffic to the company website. At the end of the blog post, they should include their contact information. And then, when people contact them, they can initiate the sales process.

Alternatively, salespeople can subscribe readers to an email list they can use to start the process of selling to them.

It should be noted that the more times that a company blogs, the more sales they’re likely to get. To get the best results, businesses should be blogging at least every other day. But, if there are multiple sales people within a company, this can be easily achieved.

3. Quizzes

People love quizzes and salespeople can use quiz technology to find out more about prospects and collect contact information. Quizzes can be developed for free using website software and other apps.

At the end of the quizzes, the contact details can be collected and the salesperson can then speak to the person.

By using the above three options, salespeople can quickly find more leads, with more information about the contact than is possible through cold calling or using an old database. Then, using this information, salespeople are more likely to meet sales performance goals.

Sales commission software is a great way to motivate and incentivise your sales team. But can it benefit your business?

Let’s take a look at the top 4 industries that utilise this means of employee performance tracking:

1. Financial services

Whether your team sells merchant payment services or helps others to better invest their money, sales commission software can reward those reps who go the extra mile in discovering the best opportunities for their clients. It can also integrate with existing cloud bookkeeping services such as QuickBooks and Xero. And if you work with referral bodies and agents on varying sales splits, sales commission software helps reduce error.

2. Tech industry

Offer solutions and services in the tech industry? Log conversions and manage targets for multi-tiered package and software scenarios easily with commission software. From ‘Software as a Service’ to cloud storage and cybersecurity products, a gamified sales team is the perfect means to convert leads.

3. Digital services

Track the performance of account managers or departments selling PPC, online advertising or SEO services. Integrate reps’ performance with your CRM, set targets in line with the latest data analytics and adjust them based on experience. It can even be adjusted whether your commission structure is recurring or varied.

4. Medical sales

Medical practices are keener than ever to use their budget wisely, and sales reps are having to work harder to make those (all-important) conversions. Sales commission software enables reps to see their targets and track their own performance. Sales commission software can also be based on multiple currency conversions for those that sell at home or globally.

Sales commission tracking software is a great option for any business looking to improve their sales conversions. Whatever you sell, maximise your team’s potential with Commissionly today.

Most managers think they know how to set sales targets and quotas, but did you know that the formula should change depending upon the time of year that you are in? Buying habits change throughout the year, and when it comes to Christmas, more people are likely to spend money.

Knowing this, managers should adjust their sales goals at Christmas. Setting individual targets for each employee can help to maximise their motivation and performance.

But how do you know what types of goals to set?

Jump on Christmas sales

If you know that sales usually increase by 15% over the Christmas period, then it’s a fair assumption that your individual performance targets for employees can increase by 15% too. In order to understand such fluctuations, requires looking at the sales data over the past five years, to get an accurate value. Looking at sales data for the previous year will produce less accurate information to work from. It’s also worth comparing data across the whole industry. So take a look at this BBC article as a starting point!

Do something different this year

Are you doing anything different this year to boost sales? For instance, a boxing day sale or a Christmas promotion. These possibilities need to be taken into account. Do some research as to whether other businesses promotions have increased their sales. If there is a trend, then consider incorporating this into your sales goals.

Remember that many stores are likely to experience increased footfall over the Christmas period too, so this may give you a sales boost. Consider your conversion rate, and use this to estimate how many customers you can encourage to buy.

Focus on employees

Remember that employees are likely to be in a different mental space during the Christmas season. Staff who love Christmas can easily get their customers into the festive spirit. These are the best people to have on shift. Other sales team members may be feeling under pressure because they have families that rely on them. So it is important to consider their needs over the holiday time. An employee that is stressed by things going on at home will be less productive.

After having considered all of these, you may realise that you require a more accurate and metric-driven plan. If this is the case, then you need Commissionly! Our easy to use system allows real-time information to be used to calculate sales goals, targets and performance management, all which can help your business thrive. For more information, take a look at Commissionly today!

When you sit down to develop your staff bonus structures, you often think about how you can create sales goals. However, it isn’t just sales commission that is important for the performance of your staff. There are other bonuses that you can give to help motivate and grow your business.

Offering rewards for responsibilities, other than sales, makes team members think more about their work. They will endeavour to improve their behaviour and perform at a higher standard.

Your compensation software can reward bonuses in the following areas.

Training bonus

Knowledge is power and you can easily add in a training bonus to your compensation software. Staff enjoy the process of learning new skills and research has found that by offering educational opportunities to your staff, you can improve loyalty to your organisation.

Rewards can be given for successfully completing courses as well as an additional bonus for getting a high score in the course. The bonus can be manually added to their monthly pay by a manager.

Customer service award

Attracting a customer and making a sale is one thing, but the next step is to make sure that their expectations are exceeded. Customers who are happy will remain loyal to your business and buy from you time and time again. This makes them a more valuable customer.

If your customers rate your services highly, then your sales team have obviously set the expectations at the right level and should be rewarded. This can be done on a recurring commission basis, or it could be done via a special one-off payment.

Time served bonus

Too many employees are leaving organisations after short periods of employment, sometimes within a year. There’s a high cost to bringing in new employees and could also impact your organisation’s potential sales.

One way to encourage staff to remain with your company is to offer a bonus for time served in your organisation. Good milestones to consider rewarding include one year, two years, three years, five years or even ten years.

Keep in mind that bonuses don’t have to be kept for commissions only. Rewarding staff for a variety of responsibilities can improve morale throughout the organisation and lead to better performance when it comes to sales. Other bonuses can also help increase employee retention which will lower staffing costs and likely increase profits.

How effective are you when it comes to sales performance management? To be an effective sales manager, you need to do more than just monitor your team’s performance. You need to inspire them to go the extra mile and close deals daily. Here are 7 habits of effective sales managers:

1. They lead by example

How do you contribute to the success of your team? If you want to take your team’s performance up a level, you need to be part of the action. Effective sales managers don’t give orders from behind a desk — they show their team how it’s done.

2. They know how to calculate sales targets

How realistic are your sales targets? Are they achievable? Are they ambitious? Your sales targets need to push your team, but they also need to be within reach. This is a delicate balance and should be the driving force behind your sales performance management.

3. They’re smart about sales performance management

Sales performance management isn’t a box-ticking exercise. When it’s done right, it provides a framework to motivate each member of your team to success. Effective sales managers know this, and dedicate time to getting it right.

4. They’re flexible with their sales team

Each member of your team has something to contribute. Effective sales managers give their team some flexibility in their approach, enabling them to bring their own strengths to the table.

5. They take responsibility for both success and failure

How accountable are you? Effective sales managers know they are ultimately responsible for the results of their team. Not getting the sales you need? Start by looking at your own performance.

6. They use sales commission software

Sales performance management is a time-consuming process. Effective sales managers don’t have time to calculate commission manually each month. Instead, sales commission software is used to automate the task.

7. They create an inspirational working environment

Finally, effective sales managers work hard every day to create a working environment that inspires their team to take action. One that prioritises collaboration, communication and friendly competition.

Which of these habits can you implement today?

Earning sales commission is about understanding objections.

Overcoming objections is still considered key to successful calls and earning sales commission. However, time is often wasted using information or specific techniques in the wrong way. This occurs when the salesperson hasn’t truly understood the situation that the catch-all term ‘objection’ is masking.

The four things prospect objections actually are:

1. A simple question

All this prospect actually requires is a piece of information. But the salesperson misinterprets and turns it into a problem. Here’s a simple example. A customer asks: ‘How much is that xxxx?’ The person simply wants to know, but the salesperson interprets it as a price objection!

2. A doubt

This isn’t the same as a clear reason for not being able to go ahead. Gently question the doubt and an answer can often be found that provides the reassurance the prospect is looking for.

3. A misunderstanding

Here the problem requires you to correct the prospect without annoying them. One great technique to remember is the 3Fs: feel, felt, found. For example, ‘I understand why you feel that way. Others have felt the same. Here’s what they found…’ If appropriate, a specific example can be used. You’ll find a more detailed explanation here.

4. A genuine limitation

If there are areas that your product or service does not cover, or there are other alternatives, the key is to outweigh what can’t be done. You can do that by making what you can do more valuable, or less risky, than the alternative.

How sales commission is truly earned.

The first step is recognising where your prospect’s objection truly lies in the above four possibilities. The second is dealing with it effectively. The third is to move past it towards completing the deal. It’s not unknown for the third stage to be replaced by a question asking if your answer helped – simply encouraging the prospect to stay in that moment!

Just as these tips can help overcome the problems of ‘objections’, Commissionly solves commission payment challenges in many industries. Contact us now to request a demo or start a free trial.

On the ground level, your sales teams are the ones who keep the organisation running by driving sales to generate income. While some managers may argue against sales commissions and incentives, they are actually important in motivating your team to ensure they are doing their best to earn you revenue.

An organisation that has high revenues from sales is able to meet its goals of expansion since its products achieve their intended purposes. In order to achieve high sales, your sales team have to work extra hard since competition in the current digital age is not easy to overcome.

Below are some reasons why compensating your sales team is important in driving your sales.

1. Motivation drives commitment

A sales job is no easy task. If you understand this as a manager, you will appreciate the struggle your sales team goes through to bring in customers. Sales representatives approach a lot of potential customers daily. Out of these interactions, less than half end up making a purchase. In this highly frustrating job, any kind of motivation goes a long way in boosting sales representatives’ morale.

Since different types of people have different things that motivate them, using a sales compensation software will enable you to identify the best incentives to offer your sales team to achieve the best possible results.

2. They help to identify areas with problems

When sales representatives are allocated commissions, based on their sales, they will be more motivated to do their best. When lower revenue is experienced, it becomes the responsibility of managers to look for other factors influencing the decrease, as they can be sure that their sales team have done their best. Such influencers could be due to a lack of proper training, or the need for product improvement and possibly even a need for better deals.

3. Commissions foster friendly competition

In a firm with a sales team, commissions will give the team members competitive incentives and this will foster friendly competition. The friendly competition aids in collaboration as all team members have the mutual objective of making more sales. While at the same time they will be trying to raise their personal sales goals, to lead the pack. The organisation will profit from higher sales due to collaboration and competition.

4. Incentives bear both short and long-term positive outcomes

While incentives motivate the sales team to score more sales in the short run, they also have the long-term effects of creating long-term relationships with clients, helping with contract renewals and also assisting the company to break into new markets. The sales commission software helps achieve the above outcome which helps the organisation to be more profitable in the long-run.

With the above benefits of sales team motivation through commissions, you will be able to create a more energetic team that is guaranteed to give positive results. For the best sales compensation software to assist you in giving your sales team and customer incentives, feel free to browse our website for the best deals and tips.

So, it’s the beginning of the month and you need to find a way to hit that all-important commission target. 

Read on for four strategies to boost your client retention, ensuring that you have guaranteed business every month *before* you start dialling out on those “BD” calls: a client retention playbook, if you will.

1. Listen

A trait of many sales professionals is the ‘gift of the gab’. When you’re on the phone or in a meeting with a client, carefully listen to what they’re saying and take it on board. Enter into a conversation with them, rather than rushing into a sales pitch, and respond to what they need in a meaningful way. This will help you build strong, positive sales relationships that go the distance. You never know – it could even lead to referrals!

2. Do your research

Make sure that you have thoroughly researched the company you are selling into. Client retention is so much more likely when it is obvious that you have taken the time to find out what matters. As well as a company website, there’s social media, forums, business blogs, press releases, and many more ways to find out about the culture, style, and values of a company. This will give you a strong competitive edge when selling your product or services as you can tailor your USP.

3. Be genuine

People can tell when you’re being insincere, so don’t be. Developing friendly working relationships goes a long way to ensuring client retention because people buy from people they like.

4. Stay in touch

Make sure you respond to messages and feedback promptly and be available to answer queries or concerns. This doesn’t end after the deal closes, either. A key to client retention is making sure you stay in touch afterwards. A good way to do this without being pushy is to follow them on their social media channels, and congratulate them on their successes. That way, you will stay top-of-mind for next time!

Our sales commission dashboard is a one-stop-shop for tracking the data around your commission in real-time, and you can keep an eye on that all-important repeat business from clients you’ve retained using our top tips!