Sales Compensation Plan
I'm putting together a comp plan for my startup sales team. Any recommendations from your experience on plans for reps, AEs, and Customer Success? What kind of plan would you setup for a VP Sales?
I recommend you a book "Innovative Reward Systems for the changing workplace" by Thomas Wilson. There is an extensive explanation over there. In a nutshell you need to know your cost of selling, sales cycle, competitive landscape. Based on it you should define what kind of behavior would be winning, and then motivate this type of behavior by money.
Thx, great points and recommendation
You can pay for Survey Data that can help provide guidelines, components, OTE, base/variable pay mix, equity. The quota/goals for each roll can vary widely and studies show the “peanut butter” spread approach doesn’t work” ie all reps in every segment of every roll have the same targets. I have been in the comp space for four years now and would be happy to share some data. Check out xactlycorp.com white papers and our blog. DM me if you want to chat more.
Thanks, would appreciate chatting. I'll DM.
What kind of service will u be taking to market? What is ur HQ?
Do you have an SDR component?
Yeah reps = SDRs