From the course: Sales Performance Measurement and Reporting

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Building effective incentive plans, compensation, and contests for your sales team

Building effective incentive plans, compensation, and contests for your sales team

From the course: Sales Performance Measurement and Reporting

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Building effective incentive plans, compensation, and contests for your sales team

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- There are so many positive things that can be said about incentive plans, compensation programs, and contests to motivate the sales team throughout the year. Who's going to complain about the opportunity to earn more money? That being said, implementation of these programs needs to be well designed, communicated very clearly, and be equitable for the entire organization. For me, I've found that anything that involves someone's personal finances can be very stressful in performance measurement and management. We're focused on the objective of increasing revenue while diligently attempting to ensure we're fair to everyone and no one is under-rewarded. Similar to setting sales targets, these responsibilities are a lot more difficult than anyone suspects. It's just not that easy. We're going to briefly review each one and the impact they have in sales performance measurement. However, I would definitely recommend you…

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