Developing a Comp Plan

How to Develop a Sales Compensation Plan

How to Develop a Sales Compensation Plan

Description: Not sure how to create a proper sales compensation plan for your small business? Here are some suggestions to get you started.
One of the keys to running a successful small business is developing a sales compensation plan — specifically one that’s good and fair. Unfortunately, many businesses don’t know how to develop a sales compensation plan.

In this post, we’ll set out to solve that problem. We’ll also delve into critical sales compensation plan details, such as setting goals, measuring performance, finding a balance between pay and incentives, and updating the plan to align with current market conditions.

Frustrated salesperson

5 Sales Compensation Plan Mistakes that Damage Morale and Ruin Revenue

5 Sales Compensation Plan Mistakes that Damage Morale and Ruin Revenue

A well-designed sales compensation plan motivates superior sales rep performance and maximizes revenue. It empowers your reps to thrive when your company thrives, but also holds them accountable when personal objectives and measures of success fall short. As important as it is, mistakes in how to develop a sales compensation plan are common.