What is BigQuery Integration?

Let's face it: Commission tracking can be a nightmare. It doesn't matter if you have a small team or have thousands of sales professionals. There are tons of data points to analyze, and many things can go wrong.

The last thing you want is to have payout inaccuracies. Luckily, BigQuery integration for commission tracking is available to make that worry a thing of the past.

What Exactly is BigQuery?

BigQuery first launched as V2 in 2011. It's a web service developed by Google to process massive amounts of read-only data sets.

Initially, the technology was part of Google's query service software Dremel. It was an externalized version of Dremel that evolved into a powerful tool for data analysis.

Dremel has been a big part of Google's success. Internally, the software tracked installation data, crash information, and more. It even analyzed spam! As you can imagine, the technology is impressively robust.

BigQuery is a service that's available to the masses. It works the same way as Dremel, opening up a world of data analysis possibilities.

How BigQuery Works

This service works by employing columnar data storage. That allows it to scan data rapidly before dispatching queries into a tree architecture. From there, it can aggregate the data across computer clusters to look for inaccuracies and other defined data points.

BigQuery uses SQL-like syntax and runs on Google Cloud Storage. As a result, it's convenient and accessible for many applications.

How Does It Help with Commission Tracking?

When you use BigQuery integration for commission tracking, you're working to keep your data updated and error-free. BigQuery constantly looks for issues and updates in real-time. That eliminates small errors that can lead to incorrect commission checks and a slew of headaches.

BigQuery is also scalable and cost-effective. It's a must-have for compensation management.

Using BigQuery to Your Advantage

BigQuery is a technology that can help you avoid issues and keep your team happy. When choosing a commission management platform, look for BigQuery integration for peace of mind.

Read a similar article about accurate commission forecasting here at this page.

How to Tailor Your Resume for Sales Positions

If you're trying to get a job in sales, your resume is crucial! It's the first thing potential employers see, and it's responsible for painting a picture about your skills and sales capabilities. Your resume isn't something to gloss over.

In this blog, we'll give you some tips on tailoring your resume for sales positions.

Highlight Sales-Focused Skills

One of the most important aspects of any resume is how it showcases your abilities. Your job history will tell potential employers a lot about your experience. But a list of past positions doesn't provide the entire story.

Don't be afraid to highlight what you can do. Of course, make sure to tailor your list of abilities to the position you're trying to get. You can mention product knowledge, your ability to acquire or retain customers, how you approach closing sales, and more.

Those finer details make all the difference, so don't hesitate to brag a little!

Provide the Proof

The proof is in the pudding! When you're crafting your resume, provide a list of achievements. That could include awards from your previous bosses. But if you want the most impact, use a compensation management tool to get the hard figures.

Most tools can often provide in-depth analytics about your performance. That means getting sales figures and other crucial metrics a new employer will want to see.

Highlight moments when you exceeded sales quotas, talk about average annual sales, and provide figures that highlight growth or ongoing improvement.

Treat It Like a Sales Pitch

Finally, treat your resume as if you're trying to sell yourself to an employer. Ultimately, that's what a resume should do, so why not use the techniques you already know?

Your resume should tell a story about who you are and what you can bring to the table. In addition to the basics, provide a brief statement about your sales experience. Feature the information you get from your compensation management tool and use it to show new employers how you can benefit their bottom line!

Read a similar article about sales sentiment analysis here at this page.

What is a Long-Term Incentive Plan?

Businesses need incentives to attract and retain talent. A paycheck is one obvious type of incentive, but at the end of the day, any workplace can provide a paycheck. The real challenge for business owners is finding incentives that offer real value outside of simply allowing an employee to earn money for hours put in.

For many business owners, the solution to this problem is found by providing commission-based incentives. These are payments made for achieving certain items like closed deals. A commission-based strategy is often used as part of an overall long-term incentive plan, and it adds value because it pays extra for achieving goals rather than just clocking in for the day. In a nutshell, it incentivizes employees to work harder to receive bigger rewards.

Designing Commission Plans for Sales Development Representatives

One issue that you may face as a business owner is how to develop commission plans for different roles in your company. Specifically, the delineation must be made between sales representatives and account executives who close deals and sales development representatives (SDR) who qualify leads.

While creating a commission plan for account executives and traditional sales representatives is fairly straightforward, designing a good SDR commission plan is a bit more complicated. Because SDRs are typically tasked with finding and qualifying leads as opposed to finalizing deals, should they receive an equal split of a sales commission? Should their commission be separate entirely? Should they receive a lower commission compared to the closer? All of these questions and more need to be asked when designing a good SDR commission plan.

Every Business is Different

There’s really no right or wrong answer to the questions posed above as every business is different. In the end, your goal needs to be focused on incentivizing the achievement of goals based on role and capacity. How you lay out your long-term incentives using commission payments is up to you, but you want each employee to have a reason to work harder based on the reward that is available.

Read a similar article about commission management here at this page.

Best Social Media Sites for Job Searching

Networking is one of the most important components of job searching, and it's one of the top ways job seekers can get hired. Whether it's networking in-person or online, or using social media to grow your career, there are many ways social networking can help you get hired read more

How Artificial Intelligence is Impacting the Sales World

Artificial intelligence is one of the hottest topics in business these days. What was once something that was only discussed in science fiction novels and computer science labs is now vaunted in the consumer sector? Everything from self-driving vehicle technologies to Big Data involves the use of artificial intelligence, and it seems like the sky's the limit.

When it comes to the sales industry, artificial intelligence is also having a huge impact. Artificial intelligence for sales utilizes prescriptive and predictive data analysis to anticipate changing trends that results in the potential for more leads and more opportunities. Additionally, artificial intelligence for sales can look back at past campaigns to analyze performance faster and with greater efficiency.

Taking the Guesswork Out of Pricing

Even seasoned sales veterans still face challenges when it comes to pricing. Every situation is unique, and closing the deal may require a lot of thought put into pricing to get things done. Using artificial intelligence, sales professionals can rely on a detailed analysis completed by an algorithm to take much of the guesswork and time out of the process while still preparing a great deal.

Setting Goals Becomes More Efficient

Speaking of guesswork, there’s plenty of guesswork that goes into sales forecasting. While experienced sales professionals often have an easier time predicting trends, there are still a lot of variables involved in the forecasting process that can hinder success.

Using artificial intelligence, forecasting can become easier since this technology can quickly analyze past performance, factor in current conditions and predict with great accuracy where things are likely to end up. Using this knowledge, sales professionals can craft strategies for both short- and long-term success.

Revealing New Opportunities for Upselling

Upselling is a fantastic way to add value to a sale and increase profits, but targeting opportunities for upselling can be complex. Through the use of artificial intelligence, sales professionals have the ability to be presented with a range of upsell opportunities by allowing this technology to analyze connections between a lead prospect and the current deal being offered.

Read a similar article about supporting your remote sales team here at this page.

How to Pick the Right Compensation Plan for Your Team

Employee compensation is not a topic you should gloss over. Your team wants to get paid fairly and in a way that matches their performance and duties. While compensation plans might seem cut and dry, there's no one-size-fits-all option.

With this blog, we aim to clarify standard compensation plans and give you an idea of how to pick the right one for your team.

Hourly Compensation

When you pay your employees hourly, you're paying them for the time they spend working. It's as simple as that! You set an hourly rate, and your team gets paid for how long they're on the clock. Adjusting sales compensation plans for hourly workers is pretty easy as well.

Some view hourly workers as expendable, but it's a desirable compensation plan for many because it means employees are nonexempt from the overtime provisions of the Fair Labor Standards Act. It's an excellent option for money-motivated workers who want to take advantage of available overtime hours. Those who have fluctuating availability usually prefer it over other compensation plans.

Salary Compensation

With a straight salary compensation plan, your employees get paid a set amount. Usually, you establish an annual salary, and your team isn't eligible to receive overtime. So, what's the benefit of salaried plans?

Generally, salaries provide more flexibility in scheduling and where they work. With this plan, no one has to log hours, and there's more freedom in how people want to work. Most employees who aren't involved with direct sales will benefit from a straight salary compensation plan.

Salary Plus Commission

With salary and a commission, your team gets the best of both worlds. The salary provides some security and ensures that your employees get paid even during slow periods. Meanwhile, the commissions motivate them to contribute more to the bottom line.

Your sales team will usually prefer this plan. It rewards performance and provides plenty of room for growth. Adjusting sales compensation plans is a breeze with the right tools. As a result, you can continue to push your team further.

What Compensation Plan is Right for Your Team?

Those are just a few of the most commonly used plans. What's right for your company will depend on many factors. Have an open discussion and determine which option will reward your team the most.

Read a similar article about company culture in sales here at this page.

The Best Ways to Sell in a Weak Economy

Selling in a down economy is a task that no sales rep wants on their plate. Unfortunately, it’s just the reality of the sales environment sometimes. With that being said, people are still buying products and services to a point, regardless of what the economy is doing. Instead of getting disheartened, it’s a good idea to change up your sales tactics. Here are some of the best tips for selling in a down economy:

Take An Aggressive Approach

The act of selling in a down economy won’t happen if you just wait for the sales to come to you. You might have to take a more aggressive approach to sales than you might normally. This means chasing down prospects and generating as many leads as you can. Make sure to go for every sale, rather than dwell in the less than ideal situation you find yourself in.

Try More Palatable Pricing

Adjust your pricing to fit the economy. People may not want to buy your product or service outright, but the subscriptions and financing plans might be more tenable. If you’re able to take the hit, offering discounts is another good idea. You could even offer discounts through referrals. For instance, if a customer is able to get two other prospects to sign up for a subscription, that customer can get some of their months free. Speaking of referrals.

Don’t Be Afraid to Reach Out

It’s a good idea to network with your return customers and see if they don’t mind referring you to parties that might be interested. Remember, the more promising leads you can find the better.

Don’t Give Up and Keep it Simple

Sometimes the best advice is to just stick with what you know and go for it. Sometimes running through your script and continuing to work your sales process will pan out. If it isn’t, then you know it’s time to switch up your tactics and try something new. By taking the challenge in stride and facing it head on, you’ll give yourself the best opportunity for success.

Read a similar blog about sales commission here at this page.