Webinar: Profit-Based Sales Incentives (part 1)
Randy MacLean, President
WayPoint Analytics
Wednesday, May 23, 2018
•competitive strategy •sales practices •sales compensation design •management strategies •new opportunities for distribution industry •sales management •sales management styles in distribution
This video is the first in our four-part series on Sales Compensation Design. The series is designed to give you insights into how to put together a profit-based compensation plan for your company. These plans are extremely effective when it comes to getting the sales force productive in generating profits rather than just chasing sales and, as a direct result, can tremendously improve your company's profit performance.
This first session covers Fundamentals and Planning. You'll learn about:
•The Five Principles of a Good Sale
•How to Establish a Time-Line
•The Value of Customer Segmentation
•The Importance of the Whale Curve
•Sales P&Ls and Commission Planning
Downloads: QSC_pt1.pdf QSC_pt1.ppt
For more information about Randy MacLean, visit: www.waypointanalytics.net
Webinar: How to Create a Sales Comp Plan (pt 1)
Randy MacLean, President
WayPoint Analytics
Saturday, October 4, 2014
•distribution management best practices •sales compensation design
Remember "back in the day" when sales compensation was based on sales volume and gross margin? Did you know those days are gone?
Here is part one of an exclusive three-webinar mini-series highlighting the simple steps you can take today to reap the extraordinary benefits of having a Sales Compensation program in place that is based on Profit-Based Sales Incentives. Parts two and three will soon follow.
This mini-series will cover everything you'll need to plan, design and implement a profit based compensation plan for your company using WayPoint Analytics.
We look forward to having you watch the video and learning more about your company. More importantly, we look forward to watching your profits grow exponentially with a Profit-Based Sales Incentives Program in place. Please direct any questions about Profit-Based Sales Incentives, or WayPoint Analytics, directly to Randy MacLean.
Downloads: QSC_pt1.pdf QSC_pt1.ppt
For more information about Randy MacLean, visit: www.waypointanalytics.net
Webinar: How to Create a Sales Compensation Plan (pt 2)
Randy MacLean, President
WayPoint Analytics
Friday, October 3, 2014
•competitive strategy •2020 Vision •WayPoint Analytics •distribution management best practices •sales practices •WayPoint systems •sales compensation design •new opportunities for distribution industry •sales management •distribution industry sales management •personnel development •business math for distribution
Webinar: In this session, Randy MacLean of WayPoint Analytics outlines the rationale for an NBC-based compensation plan, and shows how the numbers work to create a plan that synchronizes company and sales rep objectives.
Downloads: QSC_pt2.pdf QSC_pt2.ppt
For more information about Randy MacLean, visit: www.waypointanalytics.net
Webinar: How to Create a Sales Compensation Plan (pt 3)
Randy MacLean, President
WayPoint Analytics
Thursday, October 2, 2014
•competitive strategy •WayPoint Analytics •distribution management best practices •sales practices •profit-based comp •profit strategy •sales compensation design •management strategies •Wholesale Distribution Industry •Quantum Profit Management (QPM) •new opportunities for distribution industry •sales management •distribution industry sales management •personnel development •business math for distribution •wholesale distribution basic math
Good morning, everyone. I'm Randy MacLean, president of WayPoint Analytics, presenting the third session in our Master Classes on Sales Compensation Design for the wholesale distribution industry. Today, we focus on tools and methods to set base salaries and commission rates for a quantum sales compensation plan, including a worksheet to manage calculations and the critical role of territory realignment in ensuring plan success.
**Recap and Objectives**:
Our goal is a profit-based plan that pays for persuasion, protects top reps, prevents runaway earnings, operates within budget, and provides performance insurance. Session 1 covered fundamentals, and Session 2 explored plan mechanics, emphasizing NBC (Net Before Compensation) commission plans that align rep incentives with profitability. Today, we provide practical tools to design your plan and highlight territory realignment as a key strategy.
**Worksheet for Plan Design**:
We've developed a simple Excel worksheet, shared via follow-up email, to calculate base salaries and commission rates. Key steps:
• **Input Current Data**: Enter each rep's total pay (base, commissions, bonuses, excluding benefits), gross profit, operating expenses, and NBC for their territory. WayPoint users can pull NBC directly; others can estimate NBC by adding sales compensation to operating profit.
• **Analyze NBC Payout Ratio**: Calculate the percentage of NBC paid to reps (industry average: 40-60%). For example, if Rep A generates $100,000 NBC and earns $50,000, the payout is 50%. If below 20%, your plan is highly efficient; above 80%, you're overpaying.
• **Set Base Salary**: Determine base pay based on role, geography, and experience. For example, urban areas (e.g., Manhattan) may require higher bases ($40,000-$60,000) than rural areas (e.g., Montana, $20,000-$30,000). Base pay smooths earnings, typically 30-50% of total pay, ensuring stability during sales fluctuations.
• **Set Commission Rates**: Assign NBC commission rates (e.g., 20-40%) to achieve target total pay wi
Downloads: QSC_pt3.pdf QSC_pt3.ppt QSC_pt3.xls
For more information about Randy MacLean, visit: www.waypointanalytics.net
Webinar: How to Create a Sales Compensation Plan (pt 4)
Randy MacLean, President
WayPoint Analytics
Wednesday, October 1, 2014
•competitive strategy •market intelligence •distribution management best practices •profit-based comp •sales compensation design •management strategies •new opportunities for distribution industry •sales management •distribution industry sales management •personnel development •business math for distribution •wholesale distribution basic math
In the final session, Randy MacLean of WayPoint Analytics covers the elements necessary for a successful launch of your quantum sales compensation plan for the wholesale distribution industry.
If you plan in the right way, document in the right way, and communicate in the right way, your plan launch will avoid the pitfalls that can plague incentive plan changes.
Downloads: QSC_pt4.pdf QSC_pt4.ppt
For more information about Randy MacLean, visit: www.waypointanalytics.net