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See You at Xactly CompCloud 2017!
Territory Design and Quota Setting: Methodologies and Best Practices
Join Michelle Seger, Executive Director of Consulting Services at SalesGlobe, in her session about Territory Design and Quota Setting at Xactly's CompCloud 2017 Conference in San Francisco, May 16-18! Also, stop by SalesGlobe's booth!
Territory design and effective quota setting are tightly connected – more tightly connected than most sales organizations realize. Both can be complicated activities, and understanding how they interact is critical to both your sales incentive plans and the performance of your sales organization.
Territory design goes way beyond assigning geographic regions. You have to understand not only where your clients are, but also how saturated each market is. And, on the flip side, you have to consider the capacity of your sales team. This includes the talent levels of each individual rep and the time each person has to sell. Are their roles contaminated with administrative tasks, or do they have the time to focus and grow their accounts? Once you understand how to allocate the accounts to the people on your team, you can then segment the accounts and design territories that will meet the needs of your customers and help your reps succeed.
Quotas ultimately are set according to the opportunities in the territories you’ve designed. Yet quota problems 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.
In this interactive workshop, Michelle Seger will discusses the top territory design and quota setting methodologies, how and when to automate your quota setting process, and how to solve common quota-setting challenges, including:
- What are the most important factors in territory design?
- How do we determine rep capacity?
- 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?
Attendees will learn:
- How to effectively allocate and segment accounts, based on market need, strategic importance, and rep capacity.
- How to incorporate a territory design process that works for your organization.
- 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.
Questions about territory design or quota setting? Contact Michelle at firstname.lastname@example.org!
See you in San Francisco!