Channel Sales for SaaS: What It Is, When it Works, and How to Build Your Own


This post is by Liz Cain from Openview Labs


Click here to view on the original site: Original Post




Some of the most successful and influential SaaS companies include channel sales in their go-to-market strategy. Brands including HubSpot, Atlassian, Slack, Xero, Zendesk and Klaviyo use a variety of partner programs and other tactics to expand into new markets, scale their sales efforts and take advantage of partners’ existing connections and credibility. For the uninitiated, channel sales refers to the process of partnering with third parties to get your product into the end user’s hands. Part of the appeal of this approach is that it’s a very effective way to scale revenue without having to go through the expense and effort of scaling your direct sales team. The ability to tap into the existing sales organizations of partners can be both very efficient and also cost effective. That’s not to say that designing and building a successful channel sales program is easy. There are certain product and audience situations for
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How to Give Effective Performance Feedback: Frameworks and Best Practices


This post is by Liz Cain from Openview Labs


Click here to view on the original site: Original Post




While it may surprise some employees, managers are often just as anxious about giving feedback as employees are about receiving it, even when the feedback is positive. But, whether it’s enjoyable or not, providing constructive feedback is one of a manager’s most important responsibilities. Done right, such exchanges are a powerful way to improve employee behavior and performance, but initiating dialog to critique someone’s work can be stressful if you’re not sure how to best approach the task. At the simplest level, the most effective feedback helps both the manager and the employee clearly and accurately identify the gap between expectations and output. However, it’s rarely as clear cut as rating someone’s achievements as either “good” or “bad.” Employees are human beings and there’s an art to assessing all the gray areas and nuances of any individual’s conduct, actions and outcomes. Luckily, there are some foundational frameworks and best
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Designing Effective Sales Comp Plans: The Dos and Don’ts for Every Sales Leader


This post is by Liz Cain from Openview Labs


Click here to view on the original site: Original Post




I recently caught up with a sales rep for a Fortune 500 company that has rolled out an overly complex comp plan with a complicated series of multipliers and significant number of SPIFFs (Sales Performance Incentives. For Fun!) and exceptions. The most recent revision of the comp plan was pushing a particular product – if you sold module X, your commission for the entire deal would be 20% higher. It’s an interesting idea in theory, but whoever designed it didn’t think through the practical implementation. This sales rep knew his clients didn’t need that module and wasn’t going to force it on them. Instead, he attached that item to every single order for the 3 months the SPIFF ran, discounted it 100% and took an extra 20% commission on the other items. You can’t blame him – he did what was right for the customer and gamed the system
Designing sales comp plans v2
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2016 Expansion Report: Benchmarks for Sales


This post is by Liz Cain from Openview Labs


Click here to view on the original site: Original Post




Editor’s NoteThe following is an excerpt from OpenView’s 2016 Expansion Report: Benchmarks for Sales. You can access the full report here. You can also check out this year’s Customer Success report here. Sales teams have been a central part of a business’ Go–to–Market strategy for decades, but the maturation of the high–tech industry is causing them to evolve. The growth of inside sales and inbound marketing in particular are changing the way sales teams are structured and measured. These changes can make it hard for sales leaders to accurately assess the performance of their sales teams. OpenView’s 2016 Benchmarks for Sales report, produced in partnership with InsightSquared, is designed to provide context to the tech sales landscape so sales leaders like you can benchmark your teams and answer questions like: