When you go down to the next level, we get to the question about strategy. As we look at where the organization is going over the next year, the elements that may show up in the compensation plan tend to be the following:
- Customers. Determine the focus for certain markets or certain types of customers in terms of acquisition of new customers or penetration.
- Products. Determine which products or services are priorities for your organization.
- Channels. If you’re working in a multichannel environment, establish a balance between direct and indirect sales and how they work together.
- Financial. Clarify financial objectives, what you want to accomplish within the business and the financial parameters.
- Talent. There may be certain people objectives we want to accomplish in terms of certain types of talent, or retaining certain types of people or building out certain types of sales roles or parts of the business.
Those five elements – customers, products, channels, financial and talent – will tend to show up as big drivers to consider as part of the sales comp plan.
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