Get to know your sales tools in just 2 minutes a week. This week, Nancy profiles Cornerstone Software’s Sales Motivator, a solution for designing, modeling, and administrating an ideal compensation plan.
Sales ToolSkool Video Transcript:
This week’s topic is about creating effective sales comp plans without the pain and headache. I’ll be talking about Sales Motivator by Cornerstone Software.
Sales Motivator includes simple tools that help you design, model, and document your ideal compensation plan making the entire process a walk in the park.
As I mentioned, you can design and administer compensation throughout the year. Today, though, I’ll talk about their modeling capability.
Model Projected Attainment –
As you plan for 2016, you’ll want to run various models of your plan to see how much a person would be paid at various levels of attainment. Notice the data to the far right. It shows the difference in attainment as well as the difference in incentive $. This lets you see where there could be problems at various attainment scenarios.
In this screen, you’ll see how each salesperson might perform in your model. Each dot represents an employee. This dashboard will give you an idea if you’ll pay too much or too little for over or under performance.
This next screenshot shows the Incentive Variance by Performance. You can see the difference between what they’d be paid with projected attainment vs what they were paid historically. You’ll easily answer 2 important questions, Are they being paid more or less than last year at the same level of attainment, and is that what you want to have happen?
Of course, the modeling happens after you use Sales Motivator to build your plans. After you model and implement them, you’ll want to know how the plan is performing with actuals. Take a look at the Pay for Performance section. You can see how people are performing at a target of $30,000. Notice how you can get a ranking report and a distribution curve for how many of your people are hitting certain levels of attainment.
Now is the time to model your plans for 2016. Don’t bother with complicated spreadsheets that quickly get out of control. With Sales Motivator you’ll be ready for 2016 AND because of their easy administrative tools, you’ll spend the entire year helping your sales team drive growth and that’s why we’ve names Sales Motivator one of our Top Sales Tools of 2015.
Go to CornerstoneSoftware.com to get started.
That’s it for this week’s ToolSkool. Stay tuned for next week’s episode when I talk about a suite of solutions to optimize the entire lead to money process.
Until then, sell smarter with smart selling tools.