RevOps Co-op Weekly #101 - Comp Plan Evaluation 101 – A Roundtable Hosted by QuotaPath
It feels like the comp plan was just established and you’d like to “let it ride,” but should you? Check out how these experts suggest evaluating comp plans
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The RevOps Co-op welcomes DealHub as a community partner to help our members with all of their sales process and deal management questions!
So who is DealHub? 🤔
DealHub is a unique and unified Agile CPQ platform that brings efficiency, transparency, urgency, and collaboration to deal management. DealHub's enterprise-grade unified CPQ solution drives sales processes forward faster, including CRM integrations, CLM, Subscription Management, and a rare customer experience.
Comp Plan Evaluation 101 – A Roundtable Hosted by QuotaPath
Comp plans are complex beasts that are essential to any revenue generating team and need to be reviewed regularly to maximize results. Help from a team of experts can make this daunting review & improvement process so much easier. That’s why we were so excited to put together this Roundtable with Quotapath!
Our panelists were perfect for this topic: Host, Graham Collins – Chief of Staff with QuotaPath works to break down how evaluations should be approached with Ryan Milligan – Senior Director of RevOps with QuotaPath, Rosalyn Santa Elena – CRO with Carabiner Group and Jessica (JP) Zangre – Head of RevOps with Syncari.
If you haven’t already, it’s well past mid-year and it’s time for you to take a closer look at what’s working and what’s not to generate the best performance for Q4 and to establish a benchmark for the 2023 version of this plan.
The RevOps Co-op assembled some of our expert members and partners to give the 101 on evaluating comp plans for improvement. In this roundtable discussion, you’ll gain knowledge about plan evaluations from our host, Graham and participants, Ryan, Rosalyn and Jessica.
Mid-year Evaluation Questions
Ryan started things off, saying the first consideration in an evaluation is looking at whether the outcomes planned for at the start of the year were achieved or not.
“Did you pay people what you expected to pay them according to your financial plan?” he asks. “You’re trying to get 80% quota attainment, what did that look like and what was the outcome for each member of the team?”
But more important, he says, is whether the actions desired were at the rates desired.
Remember that saying about actions speaking louder than words? Turns out if you financially incentivize certain favorable actions, they are more likely to happen.
“We’re really trying to get into longer term agreements with our customers,” he says. “So, we are incentivizing our account managers to convert annual contracts to 2 to 3 years.”
The Juggling Act
Looking at all the outcomes shows what went well and what needs a little more tweaking. It’s something Rosalyn believes in and she was quick to point out that yes, comp plan effectiveness needs to be evaluated throughout the year. She suggests monthly or at least quarterly due diligence – having the conversations while assessing payments.
“It’s not a one and done thing,” Rosalyn says. “It’s a constant evaluation because we all know what Q4 looks like for everyone in terms of trying to juggle the business. You rush through the comp structure; you roll out something that’s half baked.”
Or maybe it’s the best plan the world has ever seen, but it’s not communicated right. Either way, looking at it throughout the year allows for adjustments and adaptation for the coming year.
“Are you achieving the goals that you were expecting to see?”
Keep Evaluating The Numbers
And out comes the caution flag.
It’s a numbers game, but one or two quarters aren’t necessarily enough time to completely assess the picture. Regular reviews allow for a view of trends and pipeline status.
“Is the comp plan driving us directionally towards those outcomes you want?” Rosalyn asks. “Just constantly be evaluating. You should always be looking at the data and the analytics.”
🗣 From the Community
#04_revops-questions - Contact Later Opps
Looking for a process for Opps that should be parked but not lost due to the prospect saying that everything is 100% but call me in 4 months for example. I do not want to Lost it as it’s still good and my SDR team are comped on Opps. But leaving it open, really extends the Sales Cycle. Anyone else had this issue and solved it?
Read 20 replies
#04_revops-questions - Data Enrichment Tools
We are looking to get some data enrichment going with our SFDC Accounts. We have ZoomInfo currently, but we're a little iffy on the validity of the data itself. I was wondering if someone might be able to weigh in on how reliable ZoomInfo is for HQ address, or any other tools they have used (including LinkedIn Sales Insights or similar) Read 12 replies
#08_tools-and-software - Einstein Activity Capture
We have recently implemented it fully aware of the limitations around reporting in native Salesforce reporting. We are in process of integrating our Salesforce data into BigQuery and and was wondering if anyone has successfully integrated EAC information into BigQuery? Read 14 replies
#08_tools-and-software - Calendar Booking Software
What calendar booking softwares allow for sending multiple meeting options to a prospect? Example, I send a calendar link to someone and they can chose a 30 minute meeting or 1 hour meeting and book time on my calendar. It does not appear that Outreach calendar has this functionality. Does Calendly or Chili Piper? Read 6 replies
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🔦 Partner Spotlight
SEPTEMBER 13TH-15TH | SF BAY AREA
Visit our community partners at SaaStr!
Go and check out Super Gold sponsor Everstage at booth #219 and make sure to say hi to Siva Rajamani and Shreenidhi!
Come to booth 223 and make sure to say hi to Quotapath! Their CEO and CoFounder AJ Bruno will also be speaking Wednesday, Sept 14th at 3:40pm ET (5:40pm CT) on the partner C stage!
Make sure to grab a selfie with each other and post it in the #events channel!
🐦 This week in #RevOps Social
Insights from INBOUND. 💥 (Plus…we have community!)
End-to-end RevOps? Count me in! ✋
Acrostics are still cool, right? 🤓
📚 Your curated #RevOps reading list
A Call for Pricing Transparency | QuotaPath
Almost all the information we need today we can access at our fingertips. In SaaS, that means buyers have grown more sophisticated over the past several years. So much so, that we can now buy and sell cars, homes, and even commercial real estate entirely online. As the shift to shopping for major investments online has intensified, buyers have gotten smarter too.
When CS Ops is Really RevOps | Baton
We’re not suggesting that CS Ops isn’t its own important technology category. It’s already becoming one of the fastest growing tech “stacks,” as more companies shift focus improving their customer success team. And we certainly appreciate the attention (and adoption) that Baton has received. However, today’s blog post is just a friendly reminder that if you’re lobbying your company’s VPs and CXOs to bring on a better implementation management platform, today might be the day to introduce Baton into the RevOps discussion.
Lead routing using Flows: a technical guide (Part 3) | RevOps Rehab Substack
We're continuing on with the custom lead routing setup. Remember, you would build something like this if you're choosing to build instead of buy. More often than not, you’re going to want to buy a solution. Reconfiguring your setup with a purchased solution is going to be much, much easier than going back and paying down your technical debt.
🔥 A few HOT #RevOps Jobs
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🚒 Weekly RevOps Meme
Thanks, Jordan!
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