Sales spiff
Noun
[sayls spiff]
A sales spiff is a sales performance incentive fund (often written with an extra "f"), which is a short-term incentive used to motivate sales representatives. Sales spiffs can incentivize sales rep engagement and help to meet immediate sales goals.
A sales spiff requires a set sales goal and an incentive, often a financial incentive or another kind of reward like prizes, recognition, or time off. A successful sales spiff requires a clear objective, a clear articulation of how reps will achieve the goal, a timeframe, a budget, and an incentive. When planning a sales spiff, consider the risk of sandbagging (when reps know a spiff is coming so they wait to close deals they could close earlier) and creating an overly competitive work environment (team spiffs rather than individual spiffs can help avoid this).
Example: Kristin was noticing a drop in new leads and sales rep engagement. She planned a sales spiff for her team wherein if they brought in 500 new leads by the end of the quarter, they each received a $500 bonus. The reps worked hard to meet the goal and were happy with their bonus cash.
The Anatomy of a High-Performing Referral Program
Noun
[saylz uh·nay·buhl·muhnt]
Sales enablement tools provide go-to-market teams with the high level strategy. tools and resources needed to effectively engage prospective customers and close deals to increase sales results.The goal of sales enablement is to increase sales by providing sales teams or partners with the education, training and strategy to sell a product through knowledge-based interactions.
Sales enablement differs from sales training because it is the strategic organization and implementation of resources (both technology and teams) to align on the common goal of increasing sales. Sales training is processes used to teach sales skills in order to close deals and is one part of the larger sales enablement strategy.
Example: Sales enablement helps align the technology and people within a company by providing them with the knowledge, resources and alignment to achieve sales growth.
Noun
[soo·per uh·fil·ee·ayts]
Super affiliates are the exceptionally influential and high-performing affiliates partners who play a strategic role in driving sales and revenue for a B2B SaaS company. These whale partners typically have a large and engaged audience, extensive industry expertise, and a track record of consistently delivering results.
Super affiliates often have specialized knowledge in the software's niche, enabling them to effectively market and endorse the product to their network, leading to significant growth and brand recognition for the SaaS vendor. Building strong relationships with super affiliates is a key component of a successful partnership ecosystem, as they can significantly amplify the reach and impact of the software within the target market.
Example: Approximately 20 per cent of the total partner-sourced revenue for the Kevin's affiliate partner program was driven by one outstanding partner, a super affiliate with a certified knowledge of Kevin's software and the ability to build trust and close partner deals.
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