Allowing input into the process of setting sales goals and targets helps build a sense of ownership within a team. Your aim is to unlock your team’s creativity, however, it’s also a process that can demotivate if not conducted in the right way.

So here are the best ways to unlock the team’s potential:

Hold an ‘ideas’ meeting

Bringing a team together, and inviting them to be creative, is an excellent way of developing ownership. Once invested in an idea, an effective team can even help manage its achievement. How? By encouraging each other throughout the process. They can chivvy along as necessary, and congratulate good performance.

Of course, even an ideas meeting needs a structure, but these are wide parameters to encourage effective thinking. Any gathering designed simply to agree what a manager or leader wants to do is not an ideas meeting!

Gather ideas without assessing them

• ‘Oh, that won’t work.’
• ‘No we tried that a while back, 2007 I think it was, and it didn’t work then.’
• ‘Customers won’t buy that; trust me I know.’

We’ve all heard them, idea-demolishing phrases. Often, they are offered as a quick reply, but they tend to kill creativity. Sometimes the speaker is genuinely trying to be helpful. Either way, the effect is a reduced offering of further ideas, as team members will not want to have their suggestions squashed.

So, as a starting point, the key is to gather ideas without comment, using a whiteboard, screen or the like. Let participants know that this is not the time to comment on ideas. Any idea is welcomed – even if later discarded.

Collating and editing ideas

After the gathering process is complete (be sure to keep it short) then the process moves on. Where different ideas might work in harmony they can be brought together. Now is the time to assess the ideas, but in a controlled way. For larger teams, one sub-group may be given a few minutes to think of the benefits. Another might be asked to recognise drawbacks and how they might be overcome. All of these responses can then be brought together into an agreed goal and action plan.

Managing sales goal achievement

With the goals set, managers and leaders need to keep a focus on progress. Here at Commissionly, we provide intelligent help in the motivation of your sales team, in order to achieve the set goals and earn rewards. We’d love you to talk to us about your specific requirements. So feel free to get in touch.

People go to work for one primary reason. To earn money. For most, the wage or salary they receive is known in advance. It can be a regular, standard weekly or monthly payment. But sometimes it can be based on the number of jobs or tasks completed. Alternatively, some people get paid an hourly rate rather.

It’s different for sales personnel, however. Some are paid on a commission-only basis. Others receive a modest, regular wage that is supplemented by commission or compensation. This is when a certain amount of greyness can creep into the situation.

It’s not something that employers or employees like to entertain. So, a transparent sales compensation management system is the answer.

Sales compensation management software that reports in real-time

If all sales compensation is at one flat rate, it makes it easier to calculate how much is due. However, even in this instance, there is room for some ambiguity. For example, what date is a sale recorded on the system? Does it fall into one pay period or another? There is room for confusion, and this should be avoided wherever possible.

The solution is to install a cutting-edge sales compensation management program. To begin with, such software provides one place where are all sales and commissions are recorded. No more scraps of paper or sales reports that can get permanently lost or temporarily misplaced.

The best sales compensation software reports in real-time. Furthermore, it should be able to integrate seamlessly with relevant systems such as CRM and accounting software.

Increase loyalty through transparency

Imagine having a sales compensation management program that allows instant access to both sales management and staff. Besides dashboards for managers, you can have private dashboards for sales reps. Everyone can see exactly what the current position is in an instant. This sort of transparency is important. It gives sales personnel confidence in their employers thereby increasing employee loyalty.

Empower sales personnel with access to their compensation progress

Above all, calculations are automatic. You can introduce different levels of compensation for various products and product ranges. Accordingly, you will be able to use this to promote sales where you need them. Sales personnel will also be able to check-in and see where the best incentives lie. This puts them more in control of achieving their compensation targets.

Talk to Commissionly for more information

This type of sales compensation management software is available right now. It is easy to install and can be up and running in no time. It will bring complete transparency to the compensation playing field. For more information, call us today or visit our website.

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.

Whether you’ve been part of a business for twenty years or are just getting started in setting up your own, it’s critical that you have software to help make your day-to-day tasks easier. However, it can be difficult to find such a solution if you aren’t sure what tools the ideal solution should have.

Luckily for you, the team here at Commissionly have rounded up a list of tools that every good sales commission dashboard should have.

Multi-currency support

Every business wants to reach as wide an audience as possible. This includes appealing to potential customers from all around the world, which in turn means having the ability to support a variety of currencies besides the local one.

Recurring commissions tool

If you’re a sales commission-based company, it’s key that you build a rapport and reputation with every client. This way, you’re likely to entice them to remain loyal to you, earning recurring commissions. When this is the case, it’s key that you have a tool that allows you to track such recurrences; doing so means you can pinpoint who to offer promotions and loyalty rewards to.

Sales rep tracker

If you employ a number of people to help fulfil commissions – whether it be securing them, or carrying them out – then you need a tracker to ensure that everything is running smoothly. You should look for a tool that easily and effectively lists each team member, the commission jobs they have assigned, and whether or not these commissions have been fulfilled.

Choose Commissionly

No matter what size or stage your company is at, Commissionly is a platform with a sales commission dashboard that’s intuitive and broad enough to suit a wide variety of needs. Our dashboard boasts all of the features listed in this blog post and more, so you can be certain that you’re the boss of every aspect of your business. Get in touch with a member of the team today.

Building a sales performance management strategy could sound intimidating and like a lot of pressure if you’re unsure of what to do. You don’t want to come across as overbearing or pushy – but you also don’t want to seem floundering or lackadaisical. However, ensuring that you find the right balance is easier than you expect.

Here’s how you can manage the sales performances of your employees effectively.

1. Assert your goals from the get-go

From the beginning, be clear with your employees on what your expectations are, regarding their sales performances. What is their daily target sales quota? How long do you expect them to spend with each client? What should their priorities be? Laying all of this out on the table means your employees know what you want. This means that it’s easier for you to track inconsistencies because an expected timeline and/or goals has/have been established.

2. Remember to schedule events and goals

So often, people rely solely on their memory. This can backfire quickly because the human brain is not as effective at retaining information as, say, a piece of intuitive management software. Keeping track of your to-do list means that you can reflect upon each one as and after it’s passed, meaning you can manage performances and outcomes with ease.

3. Be a leader – not just a boss

If you want to truly understand why an employee is falling behind in their sales performance targets, often the best stance is not to be intimidating. Instead, try adopting more of a mentor figure. Ask them why they think they’re failing, what you can do to help. This will build a rapport in the office, and help your employees feel more at ease. When they feel like this, they’re likely to be more confident and perform better.

4. Use Commissionly

Commissionly is a flexible, advanced platform that will help you keep track of, and manage, all your sales performance targets. Not only this, but you can use Commissionly to send out questionnaires to your employees and clients in an unintrusive manner, gleaning results quickly and effectively. Commissionly can be tailored to the individual needs of your SME, growing with you as your business grows.

What is incentive compensation?

Incentive compensation is a form of flexible compensation, in which how much an employee earns varies depending on how many sales they make and how this benefits the company as a whole. Through incentive compensation, the goals of individual salespeople and the goals of the company are aligned, resulting in improved business outcomes.

Incentives can vary from business to business and can include bonuses, commissions, SPIFs (Sales Performance Incentive Funds), prizes and recognition of employees’ achievements. A successful incentive compensation plan is structured in such a way that employees’ rewards will increase as they make more sales and raise revenue for the business.

The benefits of incentive compensation

• Increase in sales

The goal of incentive compensation is to motivate employees to work harder to meet and, hopefully, surpass their sales goals, therefore boosting company profits. Salespeople are financially motivated, so the prospect of compensation based on improved performance is guaranteed to result in more sales.

• Positive working relationships

The success of incentive compensation is based on employees and employers working as a team to drive the business towards success. Some businesses also organise their salespeople into teams to work towards a common goal, fostering positive working relationships between colleagues and encouraging them to help each other.

• Reduction in turnover

If an employee feels dissatisfied with their work and feels as though they aren’t being recognised or rewarded for their achievements, they are likely to move on to another job that more befits their personal goals. Employee satisfaction depends largely on whether their hard work is adequately rewarded, and incentive compensation is the perfect way to achieve this.

How can sales compensation software help?

Sales compensation software simplifies the compensation process, improving automation and providing transparency for you and your employees so you can work together to boost your business’s profits. Get in touch with Commissionly today and find out how we can streamline your sales compensation plan.

The norm in business is for companies to pay their employees a basic wage. This is then built on with performance-related bonuses depending on how the employee has been performing. However, with the emergence of the gig economy, this is changing. Employees are taking jobs that pay by the task rather than hourly, which can be a great way to make sure your workforce is effective.

Workers are starting to prefer these jobs for a few reasons.

Wanting to earn as much money as possible

Firstly, employees are more likely to give their all if they know they’ll be rewarded for it. Why would a worker put in as much effort as possible if they’d be earning the same at the end of the week?

Hourly or salaried workers have less reason to push themselves. On the other hand, commission workers need to work with more focus, for the extra income. Essentially, they can earn themselves a bonus by pushing themselves as hard as they can.

As earnings are in their own hands, employees find themselves striving to do more since they directly see the benefit.

Using commission alongside salary

Whilst a workforce based on commission can be effective, combining it with a salary can bring added benefits.

When employees who receive a commission only, often feel under pressure and stressed about hitting targets. A salaried worker, on the other hand, can feel financially secure and not need to worry about completing a set amount of tasks.

Employees can instead be offered a salary with commissions as a bonus. This not only makes sure the worker feels happy and secure. Additionally, workers can have the incentive provided by a commission. In this case, they’re not only working hard for a living, but they can see the benefit they gain by getting that extra sale.

If you’re interested in a system of sales-based rewards, Commissionly can help to fulfil your business potential. Commissionly provides real-time sales data to encourage and challenge your team to achieve. The commission management software can help you to forecast and plan your finances, organising your business for the foreseeable future.

Get in touch at Commissionly for a quote, and our friendly expert team will assist you in setting up the right tracking system for you.

Sales commission software is an invaluable tool for both businesses and individuals. It helps business owners to calculate, with ease, how much they owe their sales personnel. But the right commission tracking software can do so much more. It can also be used to incentivise a sales team.

There are many opportunities for salespeople who rely on earning a commission. However, they must know where they stand at all times. After all, for many, it determines what food they will be putting on their plates. It also means being able to pay bills on time. In short, their commission is their lifeblood.

Sales commission software sets and measures markers

For some salespeople, sales commission software allows them to concentrate their efforts on earning a liveable income. For others, it represents a marker. However, to the ambitious salesperson, that marker is not a goal. It is something to be bettered each time around. It is an incentive to raise the bar – to sell more.

Real-time reporting

To work well as an incentive tool, sales commission software must report in real-time. It means that salesmen and women can see where they are at earnings-wise, at any point in time. It gives them the spur they need to achieve their target income.

Comprehensive flexibility

But there is something else too that good sales commission software needs. It needs to be comprehensibly flexible. Most people like challenges. Provided of course they are achievable. This in itself makes them a great incentive as non-achievable challenges actually disincentivize employees.

Target setting

The best commission calculation software must have a user-friendly interface and be easily programmable. From the company point of view, it makes target setting a cinch. It enables attractive commissions to be set on certain categories of products.

This has two advantages:

1. The first is that it concentrates sales efforts on product categories that need it. Therefore, businesses remain in close control of their targets.
2. The second is for the sales staff. Moving targets around through commission biasing creates new challenges. Challenges motivate the sales team, giving them the determination and will to achieve.

Satisfying both ends of the spectrum

If you’re looking for the best sales commission platform to increase sales and motivate your salesforce, try Commissionly. It achieves the best results at both ends of the spectrum.

Commissions can be a major part of small to medium enterprises (SMEs). They are a highly effective way of making sure that employees are always doing their best for the company since their pay is directly linked to sales. However, to manage commission payments effectively, specific software is required. To run your company most efficiently you need to make sure this software is a perfect fit for your business.

Here are the features for the perfect commission software for small to medium enterprises:

Sales splits

For any company where more than one person is involved in any sale, sales splits are important. Without this feature, commissions would inevitably go to the person who finalised the sale. However, a sale can be more complicated than that and requires more specifics to properly manage commissions. Multiple team members will probably have engaged with potential clients in order to get to the point of them making a purchase. So only rewarding one person can often be unfair and will have a negative on the motivation of the team. With sales splits, different employees can earn different shares of the commission, so everyone gets paid what they are due.

Manager overrides

If your SME has multiple branches, manager overrides can be necessary. Since each manager is responsible for their own team, they should be rewarded when that team does well. The best commission software will account for this and allow managers to receive a share of their teams’ sales. The best managers will earn more, and everyone will be encouraged to get the team to do better since it’s in everyone’s best interest.

Dashboard & reporting

The best commission software for SMEs will need to account for a company’s need for in-depth financial information. Smaller companies are always looking for room to grow.

In-depth reporting means that SMEs can look for areas of strength or weakness in their company and adjust accordingly, rewarding those that are doing well whilst spotting any issues. Tools to analyse business performance are always important, and good commission software should provide this.

Ultimately, one commissioning software guarantees all of this and more. With Commissionly, your small to medium business can ensure that everyone is fairly paid whilst providing the resources to grow. If you believe your company needs commissioning software like this, contact us, book a demo or start the free trial. Our reliable team of experts can advise on the right package for you, and make sure that your small to medium business can thrive.

Regardless of your company size, sales performance goals should be an intrinsic part of day-to-day activities within the sales department. Without sales performance goals, the sales team will remain unfocused and undriven – implementing such goals will encourage hard work with a great payoff.

What types of sales performance goals should you be incorporating into your company as we launch into the new year?

Reduce cycle time

Cycle time is the amount of time taken for a deal to be closed. Whether it be a transaction or negotiation, you should be aiming to have as short a cycle time as possible. The sales performance goal of reducing cycle times is essential – this is because it ensures your team are working at optimal levels.

Improve customer retention

As your business grows, so too will your target audience change. One sales performance goal that should be set, is to improve your customer retention. More importantly, you want to demonstrate to your clients that, even as your company evolves and changes, their loyalty will be worth it.

Increase sales by achievable amounts

Whether you choose to do it on a daily, weekly, or monthly basis, your sales team should be focused ultimately on increasing sales. Whatever specific sales performance goal is set regarding this, make sure the target is tangible and achievable. For instance, setting a sales performance goal of improving sales by 8% by the end of Q1 is achievable – an 80% increase by the end of Q1 is not.

Whether an SME or an independent business, why not decide on your new year sales performance goals using the SMART method? No matter how you choose what goals to set for 2020 and beyond, consider Commissionly to see them through.

Commissionly is a reliable, intuitive platform that can help you motivate and pay your workforce as and when you need. Through quick surveys, you can gauge workers’ enthusiasm and drawbacks; additionally, through Commissionly, you can set sales performance goals and strategically plan how to ensure such goals are met.