Overcoming 5 common mistakeswith sales incentive systems

Continuing to rely on hunches

COMMON MISTAKE#

Compensation Managers rely on hunches when designing compensation plans

Do you truly understand the impact

of your plan or territory changes?

What drives success?

Use Scenario Modeling to understand impact of plan changes that are being considered.

Tip

Look at the information you have and see if there are any correlations.Tip

Sales by product, payee, territory and month

Compensation: Plan type, payout by component, payee and month

Territory hierarchy: city, state, region, country

Payee hierarchy: payee, manager

Time in role

Tenure with company

Performance rating

Base salary

Education

Last employer

HR survey info (How well do you understand the comp? Are you paid fairly? etc.)

External demographics (household income, real estate values, etc.)

Use tools like Watson Analytics to analyze these correlations and uncover hidden insights in your compensation data

Tip

Did you know: You can easily get data from ICM over to Watson Analytics.

All Payouts Data Store

Advanced analytics without the complexity.

Use ICM and Watson Analytics to THINK DIFFERENTLY

Designing effective comp plans

Coaching your sales reps

Territory decisions

Hiring the right sellers

Prioritizing leads

Smarter quotas

WATCH the webinar, “Uncover hidden insights in your sales compensation data”

You will learn about:How new developments in natural, language-based, cognitive computing help your compensation team see non-obvious patterns in their data, pursue ideas and improve decisions for the compensation program.

Discover additional IBM sales performance management resources