Create compensation plans that drive sales and strategic goals. Iconixx supports any combination of pay components, rules, calculations, aggregations, and sequencing with ease.
Guarantee Accurate Commission Payments For Your OrganizationOverview
Crediting and Calculation refers to a series of automatic steps that are initiated by either the user through the calculation page, or as an automatic scheduled process.
Crisp, Meaningful Visualizations for Your Sales, Compensation, and Finance TeamsOverview
Modern operational systems house massive amounts of data, and sales compensation systems are no exception. Decision makers need at-a-glance visibility of meaningful data and trends, enabling them to quickly interpret and act on data.
Optimize Sales Strategies, Reduce Risk with Robust Plan Modeling and ForecastingOverview
Simply design and review plans before releasing. Create plans in your modeling environment to achieve confidence in the actual outcomes. Accurately forecast payout amounts to enable better budgeting.
Iconixx Manages Your Company's Workflow from Assignment to Review and ApprovalOverview
Why Automate Your Workflow Process? Salary and compensation processes extend beyond one department.
Governance and ReportingOverview
Apply standard templates, create ad hoc reports, or use a vast array of analytic tools within your solution to drill deep into sales data. Access data like never before.
Iconixx for Quota ManagementOverview
Iconixx enables companies to simplify quota planning processes with our sales performance management software. Quickly and easily use valuable insights to create accurate and attainable sales quotas that align with your business goals.
Automate, Simplify, and Streamline Incentive Compensation Plans for Peak PerformanceOverview
Iconixx makes it easy to efficiently and clearly create and manage even the most complex structures for discretionary pool bonuses, management-by-objective (MBO) rewards, and noncash payouts and promotions.
Automated Merit and Salary Management That Makes It Easy to Get It RightOverview
Iconixx compensation planning software makes it easy to design, create, and manage customized salary and merit compensation plans that fit your business needs.
Sales Compensation Software by IconixxOverview
An Easier, Safer Path for Sales Performance ManagementOverview
Sales Performance Management for Your Industry. Yes, Yours.Overview
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Increasing sales productivity in 7 steps
By Carolyn Jenkins,
The key to successfully increasing sales is encouraging salespeople and boosting productivity. To do this, businesses must create an implement a quality strategy for leadership and professional development among employees. By following seven simple steps, a company can pump up sales productivity.
1. Identify current strategy for sales
A business operation should first define what the current sales strategy consists of and determine what aspects of it work and what fails to improve sales productivity. If an organization lacks a strong strategy, building one is of upmost importance, according to Business2Community. By implementing a good strategy, a company and its employees can work efficiently and increase total sales. Without a strong plan that all salespeople are familiar with, a team may be unable to reach a quota in an organized and quick manner.
"By defining who a business wants to market toward, it can develop an affective plan and ultimately lead to more sales. "
2. Create a strong and successful strategy
To patch together the perfect sales strategy, an operation must first identify who it wants to reach. By knowing the target audience, a company can focus on satisfying a particular demographic. According to Small Business Trends, identifying who makes up a target market helps a company achieve its goals.
By defining who a business wants to market toward, it can develop an affective plan and ultimately lead to more sales. For example, if a sales team has a product intended for millennials, Entrepreneur recommended establishing a strong and involved social media presence. A strong marketing strategy can help boost total sales.
Further research should be conducted to ensure full comprehension of what a demographic wants and needs to implement a successful strategy.
3. Develop sales processes
A business should decide on its sales process and how salespeople are expected to fulfill certain measurable benchmarks. By giving individuals clear goals and allowing them to keep a record of how they are performing, employees can set specific objectives for themselves.
An operation should provide employees with the resources to track their sales productivity, improvement and incentives, such as sales performance technology, to continue reaching a higher sales volume.
In addition, Small Business Trends emphasized the importance of encouraging sales reps to evaluate themselves constantly. A business can bolster by asking an employee to define what worked and what did not, a business can bolster its current sales strategy.
4. Perfecting the practice
A strong sales leader emphasizes the importance of practicing a sales strategy well. In referencing the book "Practice Perfect" by Doug Lemov, Forbes noted a sales rep can enhance the strategy by doing something well and improving the amount of learning that takes place.
"A business with strong leaders can help bolster its sales strategy."
5. Find strong leaders
A business with strong leaders can help bolster its sales strategy. Strong leaders must correct any mistakes made during the sales process by various employees and offer both positive and negative feedback to sales reps. Sales performance management software allows individuals to track sales effectiveness and progress toward meeting quotas. It can help record key performance indicators and shape feedback for employees.
Forbes noted that the most successful sales leaders deliver evaluations that do not simply report the results, but also can identify whether progress has been made. A sales leader should ensure an employee is aware of issues that may impact his or her performance as well as ways to improve in the future.
As the class of 2015 graduates this spring, many businesses are reaching out to prospective hires at college campuses and through social media, according to the Society for Human Resource Management. By recruiting those who are newly entering the workforce, a business can tap into tomorrow's leaders.
6. Hire better sales reps
While providing employees with access to sales productivity progress tracking and incentives to encourage a boost in total sales can help improve sales productivity, Inc. magazine emphasized the importance of hiring strong candidates to serve a role on a sales team.
A business should consider asking customers what they prefer to see when someone is selling them a product. This information can be beneficial when evaluating the qualities, process and philosophy of various candidates.
"Improving sales productivity bolsters a business substantially."
7. Provide reasonable incentives
Inc. magazine also indicated a business should provide strong employees with ample compensation. Especially when hiring individuals, it is crucial for an organization to clearly inform employees what the incentive compensation plan entails.
Employee satisfaction helps motivate and encourage sales reps to meet goals and measurable benchmarks. The Society for Human Resource Management showed in a recent study that engagement was one of the top motivators among participating employees. Incorporating more awards and positive feedback into the work environment has the potential to help increase sales productivity.
Additionally, compensation is another incentive that can be effective to encourage sales reps to meet and exceed sales goals.
Improving sales productivity bolsters a business substantially. By developing a strong strategy for all employees, an organization can experience notable growth in sales performance.
About the author
Carolyn Jenkins leads the Customer Success team in exceeding our customer's expectations by continually fostering a customer-centric culture throughout the entire organization and building true customer advocates that speak to the business value achieved through Iconixx solutions.