Sales Incentive Plan Checklist

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1. Evaluate Drivers of Business Value.

• Identify the impact of your marketing strategy upon sales staff
• Figure out if the sales team realizes marketing objectives and sales expectations of your business
• Hold interviews with sales employees to check how they adjust their behaviors to the marketing strategy
• Be sure the team knows the best products, prices, delivery terms and market coverage, which are actual value drivers
• Evaluate the senior management’s sales initiatives for appropriateness and realism
• Review behaviors and culture in the sales force and determine if there is enough inside support
• Be sure your sales employees have the freedom to adjust their approach to various situations

2. Analyze Current Sales Effectiveness.

• Be sure your current sales plan supports the marketing strategy and continuity of your business
• Check whether sales ROI is negative; if it is, re-evaluate your plan and determine what issues cause inefficiency
• Analyze the plan for other tactical problems such as under/overpaying sales force, ignoring development opportunities, lack of sales focus, poorly set goals
• Analyze sales effectiveness by these strategic measures:
  • Number of marketing goals achieved
  • Competitiveness
  • Compliance to marketing lifecycle
• Assess sales effectiveness by these financial indicators:
  • Revenue generated by sales
  • ROI
  • Correlation between sales revenue and ROI

 3. Determine Pay Strategy.

• Review current wages of your sales personnel and check if they are comparable to the industry level
• Assess your company’s potential and see what increase in basic wage you can provide
• Consider increasing commission rates as well
• Determine what level of sales performance is required to cover the desired pay increase
• Consider providing special rewards and bonuses for salespeople who show higher sales performance
• Check if you can pay several times a month (advance wage payment)
• Develop a pay strategy that takes into account every individual’s impact on the performance of sales
• Analyze sales performance over several months after the strategy is implemented
• Check if the pay increase has changed sales performance for better
• Also measure employee turnover and check if salespeople now feel more motivated and therefore wish to continue working for your company             

4. More Tips & Suggestions.

• Pay your sales employees commission for all existing and new accounts they relate to
• Reward sales staff for their contribution and engagement, not just for the level of sales activity
• Split commission by orders and keep track of the status of every order
• Pay commission on each month\'s sales by the middle of the following month
• Pay salespeople their commission immediately after they close large orders
• Keep commission pay statements open and available for viewing by salespeople
• Schedule and conduct regular meetings to discuss.....

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