How many times have you modified your sales incentive plans in the past few years? Are you asking yourself how many times have you changed your sales incentive plan every year, once, twice, or three times? If you answered yes, then you are not the only one.
A survey found that more than 60% of respondents had made changes to their compensation plans within the past two years. Many of these same respondents report lower sales results and dissatisfaction about their current sales incentive plans. Cataline sales incentives plans are well structured and provide valuable results to the company.
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It might not work to change your plan every year. Many companies miss key aspects of their sales incentive plans. Many businesses are too focused on the basics, such as cost benefits, quotas and commission structures, or staffing plans.
Sometimes, this can lead to little improvement in sales performance. Also, simply changing your plan every year does not guarantee success.
Sales managers who are struggling to create the right sales incentive plans for their companies can get valuable advice from Cataline industry experts.
Sales managers must first and foremost look at their mission to drive sales from a holistic perspective. To develop a comprehensive sales strategy, it is important to consider all aspects of the business.
The company's mission, goals, target markets, value proposition to customers, organizational structure, and culture should all be part of this strategy. Managers must then be able to align sales goals with this strategy.