August 04, 2022

1081: Scale and Automate How You Pay Out Commissions with Mark Schopmeyer

47 minutes

Mark Schopmeyer is a Co-Founder and Co-CEO of CaptivateIQ, the new standard for sales commissions, that helps companies set, calculate, and report paying out sales commissions. He talks about the obstacles to combining different sets of commission data and the need to create a solution. He emphasizes that a scalable solution was needed due to the limits of existing software and how more forward-thinking companies see the wisdom in moving away from traditional manual processes into an automated system. Mark also comments on trends he sees on commissions, such as the introduction of spiffs and other incentives.

HIGHLIGHTS

Combining data sets must be 100% accurate for commissions

CaptivateIQ creates a scalable solution for calculating commissions

More modern companies quickly recognize the value of automation

Fun incentives can drastically change the behaviors of salespeople

Pay on bookings and cash receipts versus commissions

QUOTES

Different data sets are especially difficult with commissions Mark: "You had to grab this data from these data systems and, mind you, data never comes in the form that you need it in. That's probably true for a lot of people in different roles. Could not be more truer than commissions. You're grabbing these sales transaction data, then you're massaging it. From a data integrity perspective and you're doing things like splitting deals. Salesforce just doesn't split opportunities."

Incentivize salespeople with fun and rewarding spiffs: Mark: "Gamification's not the right word but there's almost just like psychological element that you can kind of make the commission plan fun and you're driving even more a rally call or engagement or a sub-drive versus like, oh, if you do this, you'll get that, which kind of becomes boring in itself."

Change and align behavior with incentives Mark: "One of the best forms of incentivizing people is people just like to get paid. Like that is one of the most key ways to change behavior and also align behavior. And so, I think if you can use that correctly, you can unlock a very, very powerful way to influence how people drive their behavior, whether it's to go like 110% to doing something that the company thinks will be very productive."

Find out more about Mark in the links below:

LinkedIn (Personal): https://www.linkedin.com/in/mschop/

LinkedIn (Company): https://www.linkedin.com/company/captivateiq/

Website: https://www.captivateiq.com/