At ShoeBox Strategies, we firmly believe that no sales compensation plan is a "one-size-fits-all" solution. Our years of experience have taught us that the key to crafting an effective compensation plan lies in aligning it with your business and sales strategies. The design of the sales compensation plan should seamlessly integrate your strategic objectives with your sales team's efforts.
Before embarking on the crucial task of designing a sales compensation plan, we recommend asking yourself the following questions:
1. What is our business strategy and where should our focus lie?
2. What kind of sales talent are we seeking, rather than what kind of sales personnel do we currently have?
3. Are we aiming for organic growth through deeper customer penetration, or are we seeking new business? If it's a mix, how much time should be allocated to each?
4. How do we want our sales commission plan to be leveraged?
5. What does an excellent salesperson look like in our context?
We offer to facilitate a comprehensive sales strategy meeting for you and your team, where we can delve into these topics in detail. Our Sales Compensation Consultants are here to help you gain clarity, develop a plan, and fully build out your sales compensation strategy.
Let us have an hour exploratory session and we can give you some no cost pointers. You can invite the team if you want.
Review of your sales compensation plan alignment to business objectives
Compare sales incentive plan design and payout levels against similar companies and sales performance
Align sales teams with type of sales and products to deliver better results for the sales teams
Develop plans that align your business strategy with selling behaviors
Set quotas based on both market opportunity and revenue goals to drive a higher level of sales performance
Develop and execute an effective communication plan design to ensure maximum impact