Sales Compensation Best Practices: Executive Analytics
Sales managers must beat the clock when it comes to executing compensation analytics
In a recent article published in Destination CRM, Bob Conlin, CMO at Centive, talks about a critical component typically missing from sales incentive management practices. While most organizations record and track sales transactions as they occur, very few are able to adequately measure and analyze sales performance as it unfolds. As Conlin observes, “For most sales managers, real-time measurement and analysis is simply a dream.”
The author asserts that providing performance analytics in near-real time is essential as it enables decision-making based on actionable information in time to make a difference. Conlin discusses in detail 4 types of analysis proven to be useful to both sales and finance management.
- Forecast Analysis: Executives and managers should model various forecast assumptions then analyze the results to evaluate impacts to revenue and commission costs.
- Attainment Analysis: Monthly attainment analysis is required to ensure that attainment results meet expectations.
- Trend Analysis: Companies need to identify and capture data for those key measures that will be relevant over time.
- Top and Bottom Analysis: Analysis of top and bottom performance can uncover productive sales practices that can be replicated or a variety of issues that need to be addressed.
As the leading on-demand sales performance and sales compensation management solution, Compel offers real-time performance visibility and graphical sales analytics. Compel provides strategic value by enabling customers to run in-depth analysis, model and forecast sales incentive expense, optimize plan effectiveness, and drive sales performance and top-line revenue growth.
To learn more about sales analytics and Compel, follow the links below.
