To achieve this goal, it’s vital to accurately forecast the economic impact of incentives, but just one-third analyze return on compensation spend and nearly one-quarter struggle to define compensation’s impact on selling behaviors.
It is clear major changes are needed in how compensation and incentives are designed and implemented.
So, now the big question, how do they fix this?
New insights reveal the old selling model is dead and change is required. Despite these challenges, Chief Sales Officers are increasingly focused on driving sales growth at all cost.
cite forecasting economics as the biggest challenge to rolling out compensation plans
of high techs spend up to
of revenue on sales compensation compared to
remain unclear on amount spent on sales compensation
analyze ROI on sales compensation spending
24 points compared to x-industry average
over x- industry average
Clearly link sales and corporate business objectives and drive the right behaviors through clearly communicated, easily understood incentives.
Accelerate from simply telling sales organizations where they are, to showing them where they’re going to help make outcomes more certain and help develop a sales culture that delivers faster growth.
Analyze their performance and behaviors so key lessons can be extracted and applied across the salesforce.
The data used for this analysis were gathered as part of CSO Insights’ 7th annual Sales Compensation and Performance Management (SCPM) study. As part of this research effort, we surveyed over 250 companies worldwide collecting information on upwards of seventy sales compensation and performance management related metrics.
The CSO Insight report represents the summary findings of annual survey of challenges impacting sales performance today. The report is designed to help executives clearly understand the current world of sales from two perspectives. The first is the "what" of selling where the focus is on assessing the objectives sales organizations are trying to achieve and second is the "how" of selling where the focus is on analyzing the strategies and tactics Chief Sales Officers (CSO) are implementing to achieve their goals.