Time to advocate for the sales performance data you need ASAP

Hi there,

Between market changes, tech advancements, your competitors' ability to stand up products, and endless data access, the pace of go-to-market change can feel extreme—and it's rapidly compounding the rate at which you need to accelerate. 

As you assess your incentives and sales strategies mid-year, you're likely seeing which bets are paying off and where adjustments are needed.

But what if you could evaluate effectiveness earlier and more frequently than mid-year

Amid plans for 2025, consider ways to balance overarching strategy with the need for timely dashboards and reporting (to help you analyze sooner and avoid the 60-90 day rear-view mirror style reporting next year).

Future-you will be grateful present-you was two steps ahead on data infrastructure.

With that, enjoy this week's curated resources below, with more on data from one of our expert guests...

Get loud about sales compensation's data needs for digital transformation

Despite the rapid changes in SPM, Christina Straggas, Head of Global Sales Compensation at Equinix, recently shared with us on the Sales Compensation Show that most businesses admittedly aren't fully enabled to leverage the vast amounts of data now available. 

However, while you're evolving, there are a few best practices for getting a handle on a fast-moving future: 

• Consider digital transformation through a sales comp lens as early as possible. Once you have top-level objectives for the org, determine what changes in your CRM may be needed to facilitate what sellers need to be effective. From the administrative side, will you be able to pay on the metrics if the plan changes?
• Be transparent about needing to adapt more quickly. You can be upfront with your sales ops and comp teams about data availability, all the while urging team members to consider the skillsets they need to be building now to ready themselves for the future.
• Today, growing tech stacks and data access inherently mean roles are becoming even more about leveraging predicted insights for maximizing performance (with less time in manual tasks). How are team members pivoting from a skillset lens to bring this agility to your org?
• Be loud when advocating for the data your team needs investment in. Building close relationships with Product and Finance, be clear about the data you'll need aligned to certain aspects of seller behavior. You can't meaningfully drive activity around key behaviors unless you have the data accuracy, so this early tracking is essential. I.e. are there early-leading indicators for each plan component you'll roll out that you can get into dashboards today? This to easily see, every three months at minimum whether the needle's moving? (is that multi-year kicker working the way you planned?)

Watch Christina's episode

What we're reading...

It could be time to replace your SKO...

Looking to revamp your SKO, but unsure where to start? This article highlights the benefits of transitioning to a Revenue Kick-Off (RKO), uniting sales, marketing, and customer success teams for better alignment. We love the idea of smaller, quarterly RKOs to foster stronger inter-team connections and continuous alignment. While overhauling an SKO could seem daunting, even adopting a few ideas from this article could significantly enhance your revenue-generating efforts.

Read the full article here

A guide on behavioral economics 

We particularly enjoyed the guest editorial that shares the factors impacting the uptake of behavioral science. The piece shares research-backed evidence that a) individuals make judgements based on how easily an example comes to mind, and, b) we place higher value on items we own than the same items we don't own—demonstrating a lack of rationality in decision making processes. The takeaway? You can't ignore human aspects encountered in the buyer journey, but can leverage psychology to design better solutions. 

Read the guide here

Here's the kicker...

How to (actually) measure sales comp plan effectiveness

 As SPM evolves, we're going to see much more emphasis on effectiveness reporting—so best to become an expert now!

From the five different effectiveness analyses you can implement today, to advanced analysis and planning concepts across territory, quota, and incentive compensation, this series we hosted was a huge hit with live attendees—and it's now available on-demand. Soak up the learnings at your own pace, anytime.

Watch the sessions

Get invaluable behavioral psychology learnings for shaping your comp strategy, Netflix-style

We recently brought together 17 sales compensation experts from 14 different organizations to explore how behavioral psychology influences sales performance and seller motivation.

The five session recordings with key takeaways from today's leading compensation voices are now available on-demand, offering you expert considerations for sales strategies, incentive planning, and change management.

Watch all the recordings on-demand

Don't miss our 2025 Sales Planning Masterclass ✍️

It's time to take your sales planning to the next level. On this, we're hosting a must-attend event where you can gain essential insights into data-driven territory and quota planning, along with cutting-edge best practices for designing effective sales incentive plans. 

Join the waitlist today for more details as they're released. The entire event's designed to help you drive exceptional results in the coming year.

Join the waitlist

Let's meet up at Sales Comp '24 at WorldatWork!

Forma.ai's own Kyle Webster, will be hosting a deep dive session on the use of Monte-Carlo Simulations for managing uncertainty in budgeting.

Connect with Kyle ahead of the event on LinkedIn, and be sure to swing by the Imperial B Room, Tuesday, August 20, from 1-2 pm. 

See the schedule here

Looking for your next role?

We've shortlisted a handful of opportunities that caught our eye and might pique your interest:

• Director of Business Operations, Revenue Operations - Toptal
• Revenue Operations Manager - MaintainX
• Sales Compensation Manager - Cohere
• Sales Compensation Manager - Grand & Toy
• Manager of Pricing Programs & Incentives - AG - Brandt Group of Companies
• Compensation Manager - VetStrategy
• Manager, Compensation - Grant Thornton LLP (Canada)

Whew, that's a wrap on another action-packed week! If another revenue or sales ops leader you know would enjoy these resources, be sure to forward this issue on! 

If this newsletter was forwarded to you, you can get your own copy bi-weekly by subscribing here.

Until next time,

Mike Roberts

VP of Marketing at Forma.ai