Commission Strategy: Driving Hyper Growth
You have 7 open positions, 10 new customers to onboard, and you’ve had to silence Slack because the wins channel is constantly blowing up. This hyper growth is awesome!
But all this growth is counting on you. Your ever-growing to-do list has gone from ambitious to aspirational to delusional. And the worst part is your teams feel the stress, too.
If only you had more hours in the day. The problem is time.
1. Report in real-time
Keep your teams’ eyes on the prize. Keeping teams focused on goals has been shown to make the goal feel 30% closer, feel 17% easier, and increases speed by 23%. You get a productivity bump without lifting a finger!
2. Prepare to add more plan types
You’ll be adding new roles segmented by sales motion, specialized roles by vertical or territory, and management layers. Build a CRM data strategy to make sure you can support this reporting.
3. Double-comp is ok
You’ll probably grow without perfectly codified “Rules of Engagement”. It’s ok if you overpay a little at this stage, as long as you’re learning what value each role is bringing to the customer.
4. SPIF on losses
You need to figure out how to keep growing. Having a better understanding of the verticals, territories, or segments where you’re losing deals will help you make investments to sustain your growth!
5. Don’t undervalue your time
Get off the spreadsheet. It’s an afterthought to you and it also feels that way to your team. We get it; the math isn’t that hard, which is exactly why it’s the type of thing you should not do manually. Only spend your time on activities that drive productivity!
Your sales comp strategy should meet the needs of the business: increase individual productivity and identify growth opportunities with real-time reporting and flexibility.
Sign up for a complimentary comp plan review with a comp expert to see how we can help you improve your commission strategy.