Developing a sales compensation plan involves figuring out what type of sales compensation will best motivate your team, establishing goals, setting your commission rate, and being clear on how you measure compensation and when sales reps will be paid. Creating an effective sales compensation plan helps you drive sales and reward your top-performing team members….
How to Build a Great Sales Culture in 10 Steps
A great sales culture is one where the environment and overall attitude is positive, transparent, and results-driven. Sales leaders build an excellent culture by making sure goals align with the overall company mission and its revenue targets while also promoting a sense of open communication, collaboration, healthy competition, and fun. Below are 10 steps you…
The Ultimate Guide to Sales Leadership in 2020
Sales leadership involves strategic decision-making and the ability to inspire and motivate team members. Sales leaders meet and exceed company revenues by leading their teams to achieve revenue goals. Sales leadership roles are a good fit for professionals capable of long-term vision planning and who have excellent mentoring and decision-making skills. What Is a Sales…
How to Become a Sales Manager in 9 Steps
Becoming a sales manager involves taking on additional responsibility for the performance of a sales team and is often a promotion after demonstrating consistent performance as a sales rep. Sales managers can be promoted internally or recruited, but in both cases, there are specific steps you should consider if this is a career path you…
15 Best Sales Management Tools 2020
Sales management tools are applications, programs, or software that provide business owners, managers, and supervisors tools such as reporting and dashboards to help them visualize team performance and identify areas for improvement. We reviewed dozens of applications and arranged this list of the 15 best sales management tools for helping sales team leaders be most…
Sales Reports: The Ultimate Guide (+ Free Template)
A sales report is a summary of data displayed in a way that shows business owners how their teams and campaigns are performing. These reports can help organizations target and measure the right sales goals using spreadsheets or customer relationship management (CRM) software, and commonly include measuring sales activities, revenue, and leaderboards. Table of Contents…
The Ultimate Guide to Sales Forecasting + Free Template
Sales forecasting involves estimating future sales or revenue. It’s done by examining past sales performance while considering upcoming campaigns, initiatives, or marketplace trends. You can forecast sales by multiplying the value of your sales pipeline by the probability of closing those deals, or by multiplying your historical periodic performance by your current growth. Using a…
Unique Selling Proposition: Definition, Examples & Benefits
A unique selling proposition (USP) is the reason your product or service is different from the competition and answers the customer’s question, “Why should I buy your product instead of someone else’s?” Creating one for your business means identifying the factors that set you apart and crafting a message that ties them to your customer’s…
How to Implement Sales Territory Management in 5 Steps
Sales territory management is a process sales teams use to assign leads or accounts to specific salespeople based on geography, industry, product, or account size. This eliminates overlap between sales reps and clarifies who is responsible for specific opportunities. Territories are managed by assigning segmented prospects to individual team members who are given specific goals….
What is Market Share & How to Calculate It
Market share is a measurement of the percentage of an overall customer base an individual business has captured. Calculating market share for your company involves dividing the total sales for your company during a given period by the total amount of sales for a market—usually expressed in dollars—telling you how much you control. One of…
Sales Commission Structure: The Ultimate Guide
A sales commission structure is the system you set up and use to pay your salespeople a percentage of each sale they make. Since commissions are a common form of compensation for sales reps, it’s important to understand the why and how behind creating a commission structure that works for your business. A customer relationship…
Sales Process: The Ultimate Guide on How to Create One
A sales process is the sequential steps needed to acquire customers and close deals. It’s created by documenting each step, commonly called pipeline stages, customizing each stage for your business, and mapping out the entire process. The sales process is important because it creates a roadmap for sales teams to consistently close deals. While your…