However, this emerging generation of sales professionals may not find allure in group vacations with colleagues as a reward. Consequently, savvy sales leaders must reevaluate their incentivization structure, shifting away from prioritizing work-related events and instead focusing on motivating reps with incentives aligned with their individual preferences and priorities.

Understand Gen Z Behaviors To Tailor Incentive Compensation

In today’s world, incentivizing sales professionals effectively requires a mix of financial rewards, recognition, non-monetary incentives and a supportive work environment. Some modern and effective incentivization strategies include:

Performance-Based Bonuses & Commissions

A tiered commission structure can be set to ensure sales teams continually create new sales goals as they achieve current ones. When they exceed these goals, sales leaders can grant quarterly or annual bonuses based on these benchmarks. These objectives can be on an individual or a team basis, where they work on surpassing a collective target together, which can foster collaboration.

Non-Monetary Incentives

Outside of the President’s Club model, non-monetary rewards can be effective on their own. Experienced-based rewards, such as travel opportunities and event tickets, would be well-received if rewarded individually. Additionally, sales leaders should publicly recognize their most successful salespeople through programs such as “Employee of the Month” during town hall meetings or through company-wide email blasts.

Health & Wellness

A recent study found that 56% of Gen Z consumers in the U.S. say fitness is a “very high priority,” compared with 40% of US consumers. Wellness program incentives, like gifting gym memberships or health coaching, would resonate well with the next generation of salespeople. With 20% of Gen Z more willing to talk about mental health than their older counterparts, mental health counseling services and stress management programs are also great incentives to offer.

Analyze Data To Implement Effective Incentive Programs

These strategies help create a motivating and fulfilling environment for sales professionals, driving individual and organizational success. Regarding this compensation, sales leaders and professionals can ensure success by overseeing these rewards through incentive compensation management (ICM) software.

ICM software consolidates sales and employee data, streamlining the calculation of commissions. Effective incentive compensation programs help sales representatives focus on their performance, encouraging them to manage leads and close deals. Accurate and transparent ICM software motivates sales personnel, retains vital staff and enhances sales performance. Interactive dashboards where individuals can create plans, rate tables, quotas and highlight sales opportunities help sales leaders inspire and drive their teams to meet and exceed targets.

Additionally, ICM software allows organizations to efficiently and accurately compensate top performers while enabling sales representatives to manage and monitor their individual sales goals in real-time. The software can show sales reps exactly how their commissions break down with unrestricted clarity. This transparency builds trust so sales teams can focus on selling, not double-checking commissions.

Ensure Incentives Meet Modern Workforce Needs

As the workforce evolves with a growing presence of Gen Z, companies must rethink traditional incentivization methods to stay relevant and practical. This shift is especially critical for sales leaders who have historically relied on models that will no longer be effective. Modern strategies that blend financial rewards, personalized non-monetary incentives and wellness-focused benefits are essential to appeal to the values and preferences of younger sales professionals.

Implementing ICM software can enhance these efforts by providing a transparent, efficient and motivating platform for managing commissions and performance metrics. By embracing these contemporary approaches, organizations can foster a motivated, high-performing sales force that drives individual and collective success.

Bayley Fesler is the Director of Revenue Operations at Xactly, a provider of sales performance management solutions.

The post Not Your Grandparent’s President’s Club: The Next Generation Of Incentivization   appeared first on Demand Gen Report.

Xactly AI Copilot is designed to augment Xactly‘s revenue platform by eliminating the need to navigate multiple systems, dashboards and offline processes. Specifically, the AI engine seeks to:

• Simplify performance insights and analysis;
• Provide prompts that uncover hidden opportunities and risks;
• Automatically identify potential problems and take action;
• Share immediate visibility into financial risks and make strategic course corrections;
• Optimize pay-for-performance; and
• Design compensation plans aligned with strategic objectives.

“We believe optimizing the revenue process requires an integrated approach across planning, compensation and forecasting, fostering collaboration among sales, compensation, finance and revenue operations,” said Christopher Li, VP of Strategy at Xactly, in a statement. “Unlocking insights at the intersection of these domains presents transformative opportunities for businesses.”

The post Xactly Announces Next-Gen AI Engine, Xactly AI Copilot appeared first on Demand Gen Report.

The Lowdown

Xactly Incent provides access to more than 17 years of proprietary pay and performance data to help companies create the most impactful compensation plans for their teams. The company’s Intelligent Revenue Platform is designed to empower users to align planning, performance and predictive functions into one cohesive platform. The integration of Xactly Incent across the broader revenue engine aims to help users make efficient, strategic decisions with accurate revenue data at their fingertips.

Back-Of-The-Box Details

Xactly Incent is designed to maximize return on incentive compensation with plan optimization, greater efficiencies, enhanced timeliness and improved accuracy. Incent allows organizations to design, automate and manage incentive compensation programs from the simple to complex. And with seamless integrations, users can combine compensation data with customer relationship management (CRM), enterprise resource management (ERP), human capital management (HCM) and other critical business systems in their existing stack to provide a complete view.

Who It’s For

Xactly Incent is designed for compensation administrators, finance leaders, sales/revenue operations, sales leaders and reps and human resources.

What It Solves

Compensation is key to any sales organization, but it takes away time and effort that could be spent on other tasks. Xactly Incent helps reduce this time spent on plan administration by 60% and eliminates payout errors while increasing payout accuracy up to 99.8%. Incent is also able to create competitive plans that drive sales behavior and can help teams realize up to 10% greater quota attainment. By automating and managing incentive compensation programs, Xactly Incent allows sales leaders to shift their focus from mundane, time-consuming tasks to driving better performance from their sales teams.

What Makes It Special

Xactly Incent is designed to offer sales organizations unique perspectives against industry peers and can raise quota attainment while increasing sales retention. Xactly Incent provides sales reps with on-demand visibility to their commissions, allowing for cross-functional alignment with transparency into pay and performance data. By integrating Incent with CRMs, HCMs and other systems into an organization’s stack, it allows leaders to accurately predict revenue and execute incentive compensation management processes.

Contact

Xactly
221 Saratoga-Los Gatos Rd.
Los Gatos, CA 95030
(866) 469-2285
Request a demo

The post Xactly Incent Aims To Provide Accurate Compensation Plans For Sales/RevOps Orgs appeared first on Demand Gen Report.

The application provides Xactly with the tools to effectively measure the value of individual marketing and sales campaigns, maximize its marketing budget and analyze demand generation programs to see which ones are more effective than others, according to company officials.

“We are now able to see the true performance of our marketing campaigns and leverage our marketing budget accordingly to maximize revenue,” said Hanne Venables, Director of Marketing Operations at Xactly. “Full Circle CRM provides us more insight into our marketing metrics in salesforce.com than ever before.”

Other features Full Circle CRM’s solution include:

• Campaign Attribution, automating revenue attribution and analysis to easily manage and evaluate campaigns;
• Response Lifecycle Management,boosting campaign potential with full visibility and aging for every response,including a full view of every historical response and its outcome; and
• Marketing and Sales Intelligence: providing all of the marketing answers right inside Salesforce.

The post Xactly Implements Full Circle CRM To Boost Marketing Performance appeared first on Demand Gen Report.

“When you look at all the changes in the last year, there is a tremendous pressure on sales organizations to perform better,” said Gerhard Gschwandtner, Founder and CEO of Selling Power and host of the Sales 2.0 Conference. “When you look at all the research that CSO Insights has been doing, there’s no increase in thepercentage of sales people that actually make their quota.” Research has found that, generally, salespeople are meeting only 45% of their forecast, which indicates an increased need for sales effectiveness. 

To become more efficient, BtoB organizations have moved operations to the Cloud. Further validating the growing trend of Cloud-based solutions, several major brands, including Oracle, Microsoft, Salesforce, SAP, and most recently Apple, have moved to the cloud, which Gschwandtner said is the “new infrastructure.” Nearly all the applications being showcased at Sales 2.0 are cloud-based. “In order to do better, sales needs to look at operations from a different perspective, look at the core of their business and redesign it so it’s customer focused and analytics-focused,” he noted.

In addition to an increased emphasis on metrics and efficiency, mobility is a hot topic of discussion in the BtoB arena. Research shows that there are more mobile devices available than PCs, as consumers are moving from a delayed economy to a real-time economy, demanding information at their fingertips whenever possible. Social media is also changing the sales conversation, according to Gschwandtner. “Social media has changed everything; the organization is no longer in control of the buying cycle; the customer is in control,” he said, noting how BtoB organizations are increasingly learning from the BtoC “Amazon.com approach.” “Conversations online are pivotal to company success. Salespeople need to reach out and join and lead conversations.”

Key Agenda Highlights:

• Chris Cabrera, Founder, President & CEO of Xactly Corporation, will discuss how sales leaders can use metrics to get the information they need to make quick decisions and ensure they stay on track to meet quota. He will identify the key metrics that can be used to continuously improve the performance of the sales organization.
• Keith Hontz, Vice President of Sales, Line of Business Solutions at SAP America Inc., will reveal how SAP is leveraging integrated analytics to unlock customer insights across SAP’s ecosystem in order to make better decisions that increase sales and marketing effectiveness. Hontz will also discuss how providing these insights on mobile platforms can ensure real-time collaboration, transparency, and visibility.
• Chuck Penfield, Vice President of CRM On Demand at Oracle, will highlight ways in which sales leaders can use predictive analytics to measure the customer experience and heighten levels of customer loyalty, create a stronger presence across social networks, achieve faster growth, and capitalize on progressively larger opportunities.

The post Metrics & Mobility Key Themes At Upcoming Sales 2.0 Conference appeared first on Demand Gen Report.