We do about $1Mil in sales for our SaaS B2B product. The average deal size is $3-5K, however we have smaller deals for less than $1K and larger deals of $10-15K. To make things worse, we have both monthly and annual subscriptions, so have to deal with compensation for recurring payments. What are the best practices for setting up compensation for inside sales in this environment?
Sales incentive plans motivate reps to meet and exceed their quota goals. Implement these sales compensation best practices to help your sales team to succeed. A big part of successful sales compensation is implementing the right pay mix or combination of variables, like base salary, commission, and incentives, to motivate and inspire sales reps in your company to drive performance and exceed quota quarter-over-quarter. Accurate and precise quota planning is a necessity for sales team success. If leaders set the bar too low, reps are unlikely to reach higher. Alongside quota planning, leadership should also consider different sales commission structures within the overall compensation plans. To be effective, sales incentives must be authentically motivating. Of course, it is essential to make sure that leaders have accurate sales forecasting in place to improve pipeline visibility, enhance seller performance, and gain early insight into commissions earnings.
You can read more here: https://www.xactlycorp.com/blog/sales-compensation-best-practices
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath
Answered 3 years ago
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