What is Sales Compensation?

Every company strives to keep their salespeople motivated. This is because these employees are the key drivers of any business, whether selling services or tangible products. One way of ensuring the sales force is fully motivated is by compensating them properly for their work. The reward salespeople receive from their employers for their work is called sales compensation. The total sales compensation is calculated by summing the base pay, commission, and any incentives associated with meeting specified targets.

3 Ways to Encourage Average Workers to Perform Beyond the Bare Minimum

In his book The 10X Rule, Grant Cardone explains how setting average goals will inspire you to only exert average effort. As a result, you can only gain average results. Unfortunately, if you fall short of your average targets, you are likely to make losses.

4 Tips on How You Can Use Sales Data as an Asset

As sales enablement technologies increase, one of the key assets businesses might need to leverage when making decisions that can improve sales performance is data. Businesses may own state-of-the-art technology, but without the right data that they can analyze and draw meaningful conclusions from, it’s hard to guarantee better outcomes. On the other hand, businesses that have adopted SPM solutions with predictive data analysis are able to gain a competitive advantage in the following areas:

Tips for Growing Your Business with International Sales

When considering new markets, small businesses hardly think about international opportunities. While such businesses assess the next local customer segments to include in their sales strategy and consumers from neighboring states, the state and federal organizations wish small businesses would seize the many opportunities overseas.

Importance of Data Integration in Sales Performance Management Solutions

For several decades now, businesses have used Incentive Compensation Management (ICM) solutions to calculate commissions and implement their sales compensation plans. However, as technology grows and company needs change, businesses are finding the need to switch to modern compensation management systems.

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