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See You at IBM Vision 2017!
Quota Setting: Methodologies and Best Practices
Join Jim Benard, Executive Director of Consulting Services at SalesGlobe, for his session on Quota Setting Methodologies and Best Practices at IBM's VIsion 2017 conference May 16-19 in Orlando!
Quota challenges are consistently at or near the top of the list of sales compensation challenges for most companies. Over 30% of companies don't have quotas ready by the first month of their fiscal year. Almost half of companies fall back on using historic information that doesn't reflect actual market opportunity. Over one-third of companies have a process that the reps don't believe in or don't understand. Even after they're set, 50% of companies continue to make adjustments during the year for the wrong and right reasons. Ineffective quotas can derail even a well-designed sales compensation program. Setting effective quotas isn't just about the numbers. It’s also about the people and process and getting them right is a blend of art and a science.
In this interactive workshop, Jim Benard will discuss the top five quota setting methodologies; how and when to automate your quota setting process, and how to solve common quota-setting challenges, including:
- Should we set quotas on historical performance or market opportunity?
- Are we actually penalizing our best reps with our quota process?
- Is the issue performance or is it the quota?
- How can we incorporate forward-looking metrics?
Attendees will learn:
- How to implement cross-functional cooperation during the quota-setting process.
- How to make quotas work for the organization with an emphasis on a strong pay and performance connection.
- How to set a reasonable stretch goal for the organization based on the market.
- How to equitably allocate that goal as quotas to the organization.
- What portion of the organization should hit quota?
Contact Jim at firstname.lastname@example.org with any questions!