Salespeople chase sales goals to earn sales commissions. Every commission plan follows a different structure, but the common thread remains goals. That means that most sales organizations track goal attainment in order to reward commissions fairly and effectively.
Aside from determining how and when to distribute commissions, tracking goal attainment hosts a number of other benefits. For instance, allowing salespeople to track their own progress contributes to motivation and drives sales. Additionally, real-time tracking helps executives build sales plans moving forward or recognize when to pivot.
As we support clients in managing commissions and tracking those goals, we’ve seen these benefits for ourselves. Luckily Core Commissions supports those same clients in tracking goals in real-time as well.
Let’s take a closer look at all the benefits sales organizations gain from goal attainment tracking through Core Commissions.
Distributing Commissions Fairly
Obviously, for our purposes, tracking goal attainment primarily supports commission allocation. Typically salespeople earn as they reach a series of quotas and milestones in pursuit of overall goals. Tracking attainment helps commission administrators reward each of those events in a timely and efficient manner.
Core supports this benefit by equipping sales organizations with a number of analytics and reporting tools. Administrators can import any data needed to review and drill down into the numbers. Additionally, our clients have the ability to automate a variety of tasks, including rewarding commissions at a specified rate at the completion of a goal or milestone.
Supporting Salespeople in Attaining Goals
Delivering transparent communication on goal attainment to salespeople themselves often incentivizes sales. By having direct access to their own performance stats, employees feel control over their goals. That’s because they can see for themselves where they stand and how far they need to go in order to reach a goal. By reaching that goal, they know exactly how much they’ll earn.
Commissions themselves promise an incentive to a salesperson upon reaching a goal. However, when they can see how those commissions are rewarded for themselves, it solidifies that promise of commissions.
The Core Portal allows sales organizations to deliver this level of transparency to those earning commissions. Salespeople and administrators receive their own login to the portal. Sales can view their own stats and reports in real-time. Administrators control the information and reporting available to each login.
Providing Real-Time Reporting
When sales organizations set up a way to track goal attainment, they gain the ability to see where each salesperson stands in real time. Additionally, the company has access to overall goal attainment for the team as a whole. This data offers valuable insights to executives as they plan campaigns and decide how to move forward both from a sales perspective and with operations.
Reports and dashboards in Core allow users to view any level of data related to sales and sales commissions. An organization that sets up a method for automatically tracking goal attainment can view it at an individual level or at higher levels. The application’s functionality gives clients the power to drill down or see how teams are performing and compare that data as well.
Alerting Leadership to Low Performance
In addition to tracking overall performance, executives also have access to performance on an individual level. This gives leadership the ability to identify low performance in a team or a salesperson. Perhaps that triggers a review of the conditions that may be contributing to this low performance. Many organizations look at ways to support low-performing teams or individuals. Additional training, tools, or other resources could help turn around that result.
Performance metrics can be updated daily and viewable through the web portal. Tracking that data allows users to look at both team-level performance as well as individual performance.
Highlighting Low-Performing Products or Services
This type of data tracking also identifies performance when it comes to specific products or services. If a sales team sees low sales in the case of one specific offering, leadership can investigate it. Tracking goal attainment in real-time gives them the ability to trigger that investigation more quickly.
Core data may also be designed to call out those low-performing sales. Administrators can drill down into analytics in a way that shows performance for each sales item and compares them over time. By catching those low performers, leadership can revise goals and reassign quotas.
If your team needs to find a better way to track goal attainment and automate commissions, we can help. Set up a demo and we’ll walk you through the process personally.