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We get it. You’re a startup CEO and founder and you are probably figuring out sales. You just want to work on your solution development, make it as good and useful as possible. You want to have a good team that is satisfied with their scope of work and earnings, as well as their colleagues. Those two goals are hard enough for themselves. And sales is a critical part. That is exactly what keeps the product afloat and helps you become a large enterprise.
Well, your startup has gone from just one or two founders working all hours of the day and night to a dozen or so employees. Now, you have a team. You’re excited to have landed the funding you needed to grow your vision and move into this next phase of growth.
Except growing now is difficult.
Today, your business is experiencing a host of new problems—people who shouldn’t be selling are spending too much time selling, you’re losing people (and wondering why), and you’re not meeting your numbers or growing as you thought you would (and maybe not as much as you promised your investors.)
As the founder or tech person in your business, you were likely the best salesperson your business has seen. Eventually, the market outpaces your capacity to sell and you need to hire salespeople, so you can lead your company. When your business was getting off the ground, you were (and still are) passionate about your product. Maybe it’s something you invented or created—either way; it was yours. Your passion project.
But to grow your business, you can’t be both the salesperson and the CEO. You need to clone yourself. If only it were that easy. You can’t clone your fire and passion, but you can certainly hire the right kinds of people who will thrive in sales at a startup.
The good news is that this is okay. You have a sales team that can sell. And have grown with their support. While you might have an HRMS for rolling out their salaries, pay slips, and recording leaves, calculating their commissions and rolling out programs is still something that one of your executives does. While you may not believe it, but delayed and incorrect incentives are the #1 reason why sales reps leave.
A solid sales incentive automation process is crucial to nourish and retain sales reps and build an excellent sales team. Due to the lack of resources and budget constraints, small businesses and startups struggle to manage sales programs. But a smartly designed incentive automation managed through robust sales incentive automation software like Compass can help them achieve excellent sales results.
Well, while there are thousands of reasons why a sales incentive automation is absolutely necessary for organizations, here are a few crucial reasons.
1. Helps you automate
Sales incentive automation helps you considerably automate sales incentives making them much faster and accurate. Maintaining sales data on Excel sheets is tiring and rarely motivating. Your sales reps are expected to be better at Excel than sales as long as they rely on Excels for incentives considering how complex the formulae can get. The worst part, you cannot even backtrack. Tracking incentives manually makes them slow, manual, prone to errors, and hence, delayed and incorrect.
2. Better ROI
When operating in a small setup, every resource counts. Having a dedicated resource for calculating incentives and for rolling out payments has 2 major disadvantages. Firstly, it is extremely expensive and it is manual, slow, and error-prone.
With Compass, you can automate this and free upon fixed monthly expenses and have your resources focus on the core product, whether it is building, coding, or selling it which helps drive better ROI and has a lower payback period.
3. Immediate implementation
It is not uncommon for a tech-based company to think about building a product in-house to solve sales vows. But having dedicated resources to build software that is not for the core business dilutes the purpose. The burden of product development, quality assurance, maintenance, platform migration, and patch fixes bugs down a small team where the time, effort, and cost spent on each resource is crucial. Especially when there are solutions on the market that address relevant business challenges and lower implementation costs and time.
With easy integrations and a robust product, Compass is built to handle the most complex incentive programs with a no-code platform that can be implemented almost immediately.
4. Built for the future
While operating with a smaller team may come with some challenges, it surely has some of the greatest perks. Implementing any tech-based product takes relatively little time and less effort as compared to deploying it for a large enterprise. It is also, in most cases, a more successful project than in larger organizations considering there’s little resistance. The best part of implementing a tech-based solution for a smaller setup is because the organization grows while leveraging technology and is hence, since the beginning future-ready.
At Compass, we have built a product for the growing sales teams to become future-ready and our only aim is to ‘Democratize sales commissions’.
Compass focuses on the underlying fact: Sales acceleration is about re-engaging with the sales teams for enhanced accountability and performance by using levers that they crave for - meaningful and timely rewards, lucrative commission plans, and instant payments.
With Compass, you can select game templates from a plethora of options, define KPIs, and create logic with rules, variables, and conditions, without coding. Drive behaviors that power business results with engaging sales programs. Compass is an unorthodox product built for orthodox problems in the most orthodox function, sales.
While you focus on building better, more commercial products and launching them across geographies, Compass helps you accelerate your sales team performance so that you can only focus on building a better product.
Book a demo now and leverage the Compass advantage!