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Correlate Your Bookings Success (Or Failure) With Your Sales Comp Plan

Correlate Your Bookings Success (Or Failure) With Your Sales Comp Plan

Sales compensation is changing, and it's time to adapt. In this insightful webinar, we will explore how a collaborative, team-centric approach to sales compensation can drive success and foster a culture of teamwork.

Join us as we dive into the latest trends in sales compensation, including consumption-based pricing, team-based sales, and milestone-based compensation. Learn how these trends redefine sales compensation and how your organization can benefit from a team-centric approach.

Our expert speakers will discuss the impact of these trends on sales organizations and the challenges they present in terms of motivating and rewarding sales representatives. We'll also provide practical insights and strategies to help you design and implement innovative sales compensation programs that embrace these trends and drive success for your organization.

Discussion topics

  • The key emerging trends in sales compensation and the need for team-centric rewards to achieve success.

  • The impact of these trends on sales organizations and the challenges they present.

  • Practical insights and strategies to help you design and implement innovative sales compensation programs that embrace these trends and drive success for your organization.

Key Takeaways

  • There is a growing emphasis on customer success, retention, and long-term relationships. Compensation plans increasingly incorporate customer success metrics, such as renewal rates, upselling, and customer satisfaction scores.

  • Recently, with remarkable achievements in terms of strong gross retention, successful deployment, high adoption rates, active executive engagement, and proven outcomes, we have earned the privilege to motivate the team towards expansion by generating customer success qualified leads.

  • Balancing team-based and individual incentives is an approach to sales compensation that aims to strike a balance between rewarding individual sales performance and promoting collaboration within the sales team. In this compensation model, a portion of a sales professional's earnings is tied to their individual performance, while another portion is linked to the overall performance of their team or the organization.

  • Milestone-based incentives gamify the incentive by assigning goals towards specific team milestones or individual milestones like First to close ten deals, First team to 100% hit attainment, First to Close 3 multi-year contracts, Highest Average ACV, Highest deal closure rate % etc.