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.

Most sales managers spend a lot of time thinking about how to set sales goals. This is important, of course — but many don’t consider how their sales process fits into this task. If this sounds like you, here are five reasons you need to work on your sales process:

1. It provides your team with a framework to meet their sales targets

Whilst it’s important to allow your sales team some flexibility, an established framework makes your team more efficient. It gives them repeatable steps to follow — guiding the customer from a prospect to a sale.

2. It quickly integrates new members of staff into the team

A defined sales process minimises the time it takes to get new salespeople on board. They can observe the process in action, and quickly identify how they will fit into the business.

3. It defines how software fits into the equation

Software, like our sales commission software, can improve your sales process. It reduces time spent monitoring, tracking and calculating commission — freeing up more time for your team to focus on revenue-generating tasks. When you have a defined process, it’s easy to identify to see how software can help.

4. It helps identify areas for improvement

Similarly, a defined process helps you identify areas for improvement across the entire team. Are there any sticking points? Where are most prospects leaving the process? How can you tighten it up even further? All of this will help you learn how to set sales goals that actually get results.

5. It uses a proven approach to generate more sales

When you consider how to set sales goals, do you think about how your team will achieve them? A defined sales process gives your staff a proven approach to follow. This increases the likelihood they will hit their targets, giving you scope to improve them year-on-year to focus on what matters — increasing profits.

Crafting a good sales pitch is not an easy task, yet it is probably the most effective tool for closing sales and growing your clientele. That means delivering a good presentation is critical and can make all the difference in achieving your sales goals targets. Successful sales reps consider their technique an art form. To help you match up, here are five essentials of a good sales pitch:

1. Focus on the customer’s interest

Remember to pivot your argument around the customer’s interests. That means selling the experience rather than the product. Describe how your services or products will solve the customer’s needs. The most important thing to your prospect is that their demands are met. 

2. Structure the pitch around clear objectives

From the moment you open with a “hello”, every statement should lead you closer to your objectives. Define a clear list of objectives and work out how to get to each of them organically. Deviations from these objectives could make the pitch unproductive.

3. Share your insights

Share your insights and opinions whenever there is a chance. This makes the pitch feel more like a friendly conversation with an actual human being, rather than a sales presentation. If possible, share a positive story about how your service or product has helped someone.

4. Personalise every pitch

Everyone likes to feel special – your customers are no different. Effective sales presentations should therefore be personalised to your prospect. Learn their name and use it often, and try to find out about them and ask questions. Of course, there’s a fine line between interested and intrusive, so be respectful.

5. Give your customer time to respond

It’s generally said that a sales rep should never take “no” for an answer. However, there’s nothing more offputting than a hard sell. Allocate enough time for your customers to have an input in the conversation. Listen to them and encourage responsiveness by asking questions that give you an opportunity to address their pain points. Finally, if they’re unwilling to commit there and then, make a firm date to follow up with them.

When combined with targetted sales goals and sales commission software, these tips for delivering a good sales pitch will have you primed to enjoy greater success. Speak to us to learn more about our sales commission software that makes commission tracking easy and precise.

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!

Working together, or against?

Many sales directors will focus on the success of each individual. They award commission based on who followed the sales process from start to finish, and who closed the deal at the end. 

Each member of staff will work against their friends and colleagues. They fight to sign those high-value contracts and maximise sales figures. It’s every man for himself.

Could working together be a better option? 

Your salespeople are individuals, each with their own way of working. Surely a better approach will identify strengths, weaknesses and personality types. Can you connect the right salesperson with each specific type of customer?

Customers know when they’re being ‘sold to’

Today’s consumers are more aware than ever. They quickly identify how they’re being treated when they’re spending their money.

Many people feel uncomfortable when they’re dealing with one salesperson from start to finish. There’s a belief that this level of consistency makes a customer feel valued. In fact, it makes some customers wonder if they’re just a number. Your customers will look for signs you’re listening to them or whether you’re just after a sale.

Instead, pass your customers around a small team at different stages of the sales journey. They’ll hear the same message from many people, which reinforces the message and can boost customer confidence.

How does this work with sales commission?

If you’re going to take this approach, things need to change. You’ll need to break free from a commission structure that rewards staff only when they close a deal. Each member of the team should receive a share of the sales commission, as a reward for working together.

With Commissionly, it’s possible to create as many sales teams as you like. Now, you can manage your payments easier than ever.

In most cases, companies use sales commissions and quotas to motivate their sales reps. Essentially, you hit a particular target, and the company pays you an agreed sum of money. This type of motivator is extrinsic and it is a successful lever but intrinsic, non-financial motivators are important too and getting these working together is the real key to infusing energy into your sales reps, increase productivity and get the very most from your sales team.

A strong sense of purpose

Some sales reps are motivated by a strong sense of purpose. They believe in the products and services they are selling and the benefits that they deliver to their customers. They are personally invested and delighted by the satisfaction their customers get from their products and services. Reps who are driven by a strong sense of purpose should be brought into the client feedback loop to champion their clients and provide insight into product and service development. 

Accountability and ownership

When people are involved in setting their own goals, they are more invested and more likely to achieve them. As much as the company will always have its overarching goals for the sales department, it is essential to allow individual reps to create sales goals that are SMART and map out their own plan to achieve success. Having personal targets that are aligned with the company’s goals helps to improve motivation and attainment. 

Autonomy

Whilst management at varying levels is required in most organizations, ‘micromanagement’ is often one of the reasons given when people chose to leave a position. Innovative, fast-moving business are recognizing the importance of self-management – working our clear goals with employees and giving them autonomy to deliver. Giving your sales reps some control over their own time manage, their daily schedules and the tools and techniques they use, without the need for a lot of bureaucracy may enable them to sore. 

The rapport between sales reps and managers

Managers and sales reps should work together to define best ways of work in term of communication, how they intend to handle supervision and feedback. For some reps, having a quick meeting with their manager every day is quite motivating while others find the weekly sit-down more helpful. It’s important to find out what works best for your team and personalizing the approach for each member in order to get the best out of them.

At Commissionly we offer a cloud-based sales commission and sales compensation management web app to help you motivate your sales team by using a commission-based payment structure. With a well-structured commission coupled with non-cash incentives, you can be sure that your sales team will deliver impeccable results.

Every single business wants to generate profits. The goal of business is to provide a service or product that solves a problem your audience is experiencing and to grow the business so that year on year it can accrue greater financial payback.

1. Research your target audience

If you don’t know who you are appealing to, how can you hope to target your service or product to the people that will benefit most from it? You need to understand who your ideal customer is, what you can do to reach them, and define how your offering can be refined to meet their needs

2. Stick to what you know (at least at the start)

When trying to grow a business or create sales goals, it can be very tempting to try and diversify so that you can reach as many people as possible. But being all things to all people can backfire and leave you meaning not much to anyone. Focus on your core offering, what differentiates your business and make it the best it can be.

3. Figure out what sets you apart

Why should a customer choose you over a rival organisation? What do you do that other businesses can’t? If you are able to define this, you will be able to build your communications around this and grow your reputation to engage your key audience.

4. Utilise a variety of marketing channels

When it comes to marketing, you need to ensure that you don’t put all of your eggs in one basket and ensure the channels you choose are reaching your core audience. There are so many channels to consider from social media, email marketing, your website, thought leadership blogs, events, direct marketing, networking, webinars and a variety of other marketing methods to ensure you reach the right people at the right time. The more effective your marketing becomes, the greater the engagement you will have with your customer and the easier it will be to increase sales over time.

5. Showcase your expertise 

Whether it’s through your website, infographics, videos, blogs, podcasts, webinars and physical demonstrations you need to create content to show that you are an expert in your particular field. If people are going to trust you, then you should be able to walk the walk as well as talk the talk. Working with clients and customers to help grow your content repository can help to further bolster engagement and your reputation.

However, it is absolutely essential to grow a business in a way that is sustainable. Slow and steady wins the race, after all. So, with that in mind, here are five simple tips to ensure that your business grows steadily and in a manner that doesn’t put it at unnecessary risk.

…is the next one! Sounds obvious, but this flies in the face of an old sales adage: you’re only as good as your last call. Not so! While that previous call might have established or continued a positive customer relationship, this really offers no more than an ‘in’ for the next time.

Why that next call should be different

If a salesperson is making regular calls to established customers, then another saying should be front of mind. And it’s this: familiarity breeds contempt. However, this can be a bit harsh, so perhaps it should be adapted to: familiarity can breed indifference.

More of the same-old, same-old

There are many salespeople who are satisfied with a call to such a customer where the previous order is repeated. They measure this as a success – and it’s fair to say that, on occasions, this might be the best outcome that can be achieved. However, that isn’t the same as being in a comfort zone where this is simply the salesperson’s expectation.

Adding something new to a call

In the scenario just described, there can be a comfortable relationship between buyer and seller. Until, that is, another salesperson arrives on the scene behaving pro-actively. This individual is offering something new or different. This might be no more than paying proper attention to the client and their needs, rather than taking them for granted. 

So, what might the something new be? It could be a product or service, or an improvement on what’s currently on offer. However, it might be no more than taking time to ask questions of the customer, to find out how their business – and therefore their needs – might have changed or be changing.

Changing expectations and outcomes

By the simple showing of interest, rather than just taking them for granted, a salesperson can move their relationship up a notch with regular, or infrequent, customers. Even for a first-time call, the level of genuine interest shown can be a game-changer! Author Maya Angelou said it well when she suggested that “I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” 

The Commissionly cloud-based sales commission software app can offer evidence to managers of where the same-old is being accepted or an improvement is being striven for. To find out more about keeping a close eye on performance and more…

Increasingly, smart businesses have started using sales compensation software to accurately analyze the current state of business and forecast future earnings. Sales compensation software is also a great tool to monitor the performance of each sales representative and calculate the effect of renewals. Through automation, your business can seamlessly execute these tasks by creating a sales incentive compensation plan. So, if you want to invest in sales compensation software, here are four things to consider.

1. Flexibility

The process of tracking and reviewing multiple collections of financial data manually can be exhausting. It is also hard to compare existing data sets and adjust their presentations. While it is possible to compare and track multiple datasets with Excel, you need a more flexible and robust commission tracking software for large datasets. Credible sales compensation software is designed to view and compare multiple data sets all at once.

2. Functionality

The inherent value of commission tracking software is defined by its functionality. Sales commission software helps a business track a myriad of numbers, data, and finances. The software makes the process of calculating payments more accurate and efficient. Apart from compiling data from various sources and assisting in making complex determinations, the software provides an easier way of viewing that information.

3. User-friendly

Sales compensation software can only be effective if it is user-friendly. Your teams shouldn’t waste several man-hours trying to figure out how to take full advantage of the software’s vital features. Invest in an intuitive software that is potentially capable of boosting the quality of output without too much difficulty. Good software should expedite the process of the computation and creation of commission plans. 

The software should also come with sufficient training materials for training new hires, educating first-time users, and providing refresher courses to your teams. The software should also offer reliable support services to prevent downtime every time your teams encounter technical problems.

4. Price

Ensure the price of the sales compensation software is reasonable, worthwhile, and justified. Instead of settling for the cheapest vendor on the market, pick a software that will give you good value for your money.

Commissionly helps you fulfil your business potential with an affordable, intelligent way to pay and motivate your salesforce, all tailored to meet the unique needs of your business.  If you are looking for a sales compensation management web app with helpful tools such as uncomplicated data import and commission setting tools, contact us today to book your 14-day free trial or free, no obligation demo.

Creating sales goals isn’t always an easy process, and anyone who thinks it is is probably doing something wrong. Although businesses do their best, sometimes their targets just don’t match up with reality. To avoid these common mistakes here are some tips on creating sales goals:-

Not consulting stakeholders

A big mistake is giving the job of creating sales goals to one person and expecting them to complete it in isolation without consulting with other stakeholders. It’s important to find out how the needs of customers will impact your sales in the coming months, while also maintaining an awareness of the competition and the way their plans and marketing could impact you. Sales goal setting is a team effort, so make sure you have everyone pitch in.

Looking backwards instead of forwards

Although the sales history of your company can shed valuable insight into future trends, it’s important to be focussed on forecasting rather than reporting on what’s already happened. When it comes to sales goals, they need to be firmly grounded in where you’re going, not where you’ve already been.

Not giving employees an incentive to work harder

Your sales staff thrive on the commission you give them, the promise of earning more driving them to do a better job and earn more money for your business. However, by promising all your staff an increase in salary every year regardless of your financial situation, they may lose some of that enthusiasm. This could skew your sales targets, as your top performers may not perform quite as well. Make sure you reassess any commission or pay increases each time you set new goals and base them upon the current financial climate.

No room for flexibility

You might think that setting a goal and sticking to it is a good thing, but extreme rigidity actually limits you. You need to make sure your goals remain achievable and adapt as you realise which targets you’ll be able to meet and which you won’t. There’s no sense striving for a goal just because you set it at the beginning of the year if there are other areas that could benefit more from your time and energy.

Commissionly gives your salesforce real-time updates on performance, serving to motivate and challenge the whole team to achieve. We also provide insights and intelligence to your financial managers and leadership teams, helping you to forecast and strategically plan for the future. We work with SMBs and larger businesses around the world to help them to work smarter and achieve more.

To book your free demo or start a complimentary 14-day trial of our sales commission software simply contact our team anytime.