A sales team represents one of the most important pieces of a business organization. Accordingly, motivating a sales team can be quite difficult. There are many external factors that affect motivation. One such factor can be the repetitive “NO” that they receive from prospects.
Every person, salespeople included, requires different incentives and motivational tactics. Use the below tactics to boost the motivation of your salespeople:
Sales is a really stressful job. In a survey conducted by online career database PayScale, sales job was ranked as the second most stressful job. Salespeople are under a lot of pressure to meet their targets, convert leads, etc.
Since stress has been proven time and again to be detrimental to one’s health, we have come up with some tips to help you deal better with work-related stress. Continue reading →
Excel is known to be a powerful and useful tool. With it, businesses can collect, track, and manipulate data. But it was never designed to meet all of your business needs, and it certainly isn’t the best choice for tracking or processing sales commissions for your sales team.
Excel is a powerful mathematical tool. But, processing commissions isn’t just math; it’s a process in which you want to ensure accuracy, identify missed commission payments, communicate accuracy to your agents, and analyze overall sales performance.
Choosing the best sales commission structure is important to motivate your sales people and achieve your business profit. However, there are many factors that can impact sales commission. Some of these factors include: what you are selling, your employees, the industry, your company size, sales cycle length, and more.
The most common and simple sales compensation plan is made by providing commission as a percentage of a single sale’s revenue. If a product sells for $2,000 with a sales commission rate of 5%, a sales professional would collect $100 for each product they sell.
Common sales commission structures include profit, gross margin, tiered commission structures, straight commissions, draw against commissions. Continue reading →
Top 3 Features of a Good Sales Compensation Software
I was looking through the World Wide Web when I happened to click on one of the bookmarks on my browser. It inadvertently led me to a website that had a list of math problems that you can solve. The math problems weren’t the likes of simple addition or multiplication problems though.
The list of math problems were example situations that you had to solve to get the amount of sales commission that your sales rep would get. Continue reading →
There is an old saying that you never hear a sales rep complain about getting overpaid; only when they are underpaid. For the sales reps, opening their pay stub or checking their bank accounts and finding extra money from the company is a wonderful, joyous event. It’s like Christmas came early! Continue reading →
Too busy, too frazzled, or too preoccupied – We’ve all been there at some point in our lives.
With the holidays fast approaching, sales reps and sales managers alike are usually running here and there trying to get a lot of things done all at the same time. Everyone’s buying gifts for everyone. The people in sales are usually at their busiest before, during, and even immediately after the holidays. Continue reading →
Sales Commission Wish List: A Sales Rep’s Holiday Wishes for Sales Commission Management and Reporting
‘Twas the night before Christmas, when throughout the company, not a sales rep was stirring, not even a boss. The commission statements were hung by the water cooler with care, in hopes that St. Nicholas would spot them there. Continue reading →
#Nailba34: CellarStone to Showcase QCommission at NAILBA’S 34th Annual Meeting
CellarStone, Inc., a premier provider of sales performance management solutions and the provider of QCommission, is exhibiting at the renowned National Association of Independent Life Brokerage Agencies 34th Annual Conference in Orlando Florida on November 19-20. Continue reading →