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New business sales
How should sales people be rewarded for sales quality?
As businesses grow, mature, and become more complex, the quality of the revenue increases in importance. This often comes up when the sales team has hit their assigned sales numbers, but the company is disappointed with the nature of those sales.
New Business vs. Account Management roles in Professional Services
In professional services, do you compensate differently in sales plans for “new” business vs. maintaining an account to incent your best “prospectors” to develop new business?
What percentage of annual gross revenue should come from new business?
I believe your question is about sales roles with a new business focus when the acquired business generally turns into a long-term annuity type relationship. Examples from my experience include…
What is the best way to compensate for multi-year maintenance contracts, including Managed Services?
The first question about the multi-year maintenance contracts is whether the role for which you’re compensating is a new business role or an account management role. If its primary focus is gaining new business…
Are there any design principles you recommend I use to differentiate between existing products to new customers and new business/new products?
Generally a sales comp plan may pay differently for new products or new accounts in order to recognize a few typical characteristics of these sales:
Hiring your first sales person
For most small companies, your first sales hire is hard to do well. You don’t have a sales leader to help you confirm you have the right skills and temperament for the job. You’re not sure what to expect in terms of productivity…
Account Managers vs. Business Developers: Key comp plan differences
Have you decided it’s time to specialize in your sales team? One of the first ways companies do this is by separating the Account Management role from the Business Development role. If you’re thinking of this approach, and if you have a reasonably short sales cycle so that your business developers close at least several new customers per month on average, these tips are for you.