Summit US Sessions SOS_The End of Coin Operated Comp Plans

Evolving From Coin-Operated to Strategically Aligned Sales Comp Plans

Wednesday May 6, 2020 | 11:20 AM - 11:40 AM

Speaker(s):  Steve Silver, Kevin Avery

Track(s): Sales Operations

Today’s sales organizations are complex organisms that may include various roles such as inside sales, major account sales, product specialist and partner manager. In addition, sales responsibilities have expanded beyond the initial purchase to include a focus on retention, growth and customer lifetime value. Yet a monetary-centered view of sales reps persists as a primary driver behind many compensation plans. The coin-operated lone wolf who brings in unforecasted deals at the end of the quarter is not a sustainable model and must not be encouraged. Instead, reps should be rewarded for working toward the corporate goals of predictable revenue and long-term customer retention and satisfaction.

This session will provide the following benefits:

  • Understand why sales compensation plans often fail to drive desired behavior or reward desired outcomes
  • Learn why linking sales compensation mechanics to corporate goals and objectives matters
  • Discover a structured approach to aligning key stakeholders around the compensation plan charter and its guiding principles

May 4–7, 2020 | Live Virtual Experience

 
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