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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Sales staff motivation down? Look for these key sales effectiveness metrics
Even while managers interact with employees every day, it's hard to know when salespeople are engaged with their jobs. According to Gallup, employee engagement recently hit a three-year high. Despite achieving this milestone, most employees are still not happy with their jobs, which could impact productivity in the workplace. To sustain a high level of performance among sales teams, employers should determine whether employees are engaged and find sources of disengagement.
Although many managers believe observation is key to figure out whether employees are satisfied with their jobs, employees may still not be engaged even when they show up to work every day and turn in assignments on time. Rather than rely on what they observe in the office, employers could turn to quantifiable data that gives more details into whether employees are as productive as they can be. If staff are not motivated, managers can take the next step toward improving employee engagement and helping increase productivity in the process.
Here are four sales effectiveness metrics to track employee motivation:
1. Quote-to-close ratio
As customers want to know the costs of services and products, salespeople should also use this opportunity to not only send quotes but also pitch their unique sales proposition and more. However, when workers are not motivated, a key performance indicator like quote-to-close ratio could shed light into whether they are engaged enough to go the extra mile and do more than simply submit the quote.
Quote to close, or the number of formal quotes weighed against the number of deals closed, could allow employers to see whether employees are taking every chance to close the deal. In case workers not motivated, managers can try to either coach workers or find out if there are any underlying problems that could prevent workers from achieving an acceptable quote-to-close ratio.
2. Sales per rep
When employees feel as though their drive for the job has gone down, this will likely show in their overall sales per rep KPIs. As a comprehensive measure of whether employees are meeting their quotas as well as successfully interacting with customers, sales per rep could let employers determine whether workers are accomplishing company expectations.
As an important sales effectiveness metric, employers should evaluate sales staff sales per rep numbers and decide whether individual and department sales figures are hitting the mark.
3. Average new deals size
Some of the best sales reps are always on the search for the next big deal. Average new deals size is a crucial indicator, according to Harvard Business Review. This could indicate whether salespeople are always raising the bar for themselves and in their quotas. When employees are not motivated, they may not feel as much pressure to do better the next time they are presented with new sales opportunities.
Next time, look for the average size of new deals to see whether employees are skilled at acquiring new business, which is a valuable attribute for any salesperson.
4. Sales of new vs. returning customers
Speaking of new business, new leads and customers are the lifeblood of companies, especially if they experience high client churn. One important indicator of whether employees are able to keep generating new customers is the sales effectiveness metric new vs. returning customer sales, according to Entrepreneur magazine. If employees are unable to produce desirable outcomes for bringing on new customers because they lack motivation, which could be evident depending on the findings of this KPI.
Since managers might have difficulties in determining whether employees are engaged with their jobs, they could use sales performance management software as a tool for gauging productivity and job satisfaction to ensure workers keep up their sales.