bolt’s Post

#throwbackthursday - remember when Tim Saxon joined Summize to share valuable insights on his CLM journey at Zego? Key take-aways: 🚘 Don't rush - find a solution which meets your needs 🚘 Find a vendor who is receptive to your needs and feedback 🚘 Implementation is key to success Embarking on a CLM journey of your own? Read more about Tim's experiences here: https://lnkd.in/e9hmFSDv

Clawbacks are a tough pill to swallow as an AE. Especially at the end of a quarter or year, where it could potentially lead to missing a bonus/accelerator in your compensation plan. You put a lot of time and effort into closing an opportunity. For a multitude of reasons, the contract is cancelled or decreased, which means you to have to pay back your hard earned commissions. Having visibility into the timing of the clawback allows you to focus on other deals in your pipeline to make up for the negative adjustment. Visibility is an area that Spiff for Salesforce excels in. Knowing this information immediately can really make a difference as we all strive to exceed quota. #salesforce #spm #commissions #adjustments #visibility #compensation

Ever wondered how to strike the perfect balance between motivating your sales team and safeguarding your company's financial health? Let's dive into the world of clawback clauses, a tool that's reshaping sales compensation strategies for the better. Clawback clauses have become a cornerstone of effective sales compensation plans, designed to reclaim commission or performance-based compensation under specific circumstances, such as customer churn. Since the financial crash of 2008, their adoption has skyrocketed from less than 3% to 82% among Fortune 500 companies, highlighting their importance in today's business landscape. These clauses not only mitigate financial risk and provide legal protection but also encourage sales behaviors that foster sustainable growth. However, it's crucial to navigate their implementation carefully to avoid potential downsides like sales demotivation and administrative complexity. By seeking legal counsel, setting clear parameters, educating sales reps, regularly reviewing clauses, and automating the process, businesses can leverage clawback clauses effectively to benefit both the company and its sales force. For a deeper dive into how clawback clauses can be seamlessly integrated into your sales compensation strategy, ensuring fairness and transparency while driving value, check out the full article here: [https://lnkd.in/g7yprVQQ) Happy Friday! Casey Jones #SalesStrategy #CompensationPlanning #ClawbackClause #Salesforce

Wrapping up this month's focus on #businessdevelopment with a helpful article on #crossselling from Salesforce: https://lnkd.in/gHy3Ph2b

Announcing TensorConnect - a reseller program made to empower insurers. Designed specifically with the aim of democratizing AI-derived property data and analysis tools – and making AI property intelligence easily accessible to businesses of all sizes.    TensorConnect aims to eliminate barriers to entry and help even more insurers automate slow, expensive in-person property inspections, risk assessments, and claims processes. Arriving with two distinct reseller packages. The Standard Universal API Package is designed for multiple end-users with no minimum commitment, and the second - Extended API Package - can be customized to end users’ specific needs with a required minimum commitment. A key feature and advantage of our new program is its comprehensive data offering. TensorConnect will provide resellers with access to our complete portfolio of property data, unlike other existing reseller programs that sell access to specific data types. We are excited to say we have already secured several key reseller partnerships, including agreements with Socotra, MAPTYCS®, Quotech, EigenRisk Inc., and Cytora. Contact us now to learn more about TensorConnect. The full announcement on our blog: https://lnkd.in/dxWvhsys

Force Management teaches that there are four questions every sales organization needs to answer. 1. What problems do you solve for your customers? 2. How do you specifically solve those problems?  3. How do you do it differently than your competition?  4. What’s your proof? To test if your website answers those questions. Use this prompt in Bing's version of ChatGPT as I did with a client of mine. "You are an expert in sales messaging. Review this website (https://dibrokerwest.com/) and answer the following questions. 1) What problems does dibrokerWest currently solve for its customers? 2) How does dibrokerWest specifically solve these problems? 3) How does dibrokerWest do it differently than the competition? 4) What is their proof? Here is its answer (within 15 seconds) after reviewing their website. 1. dibrokerWest solves the following problems for its customers: - Finding the best disability insurance solutions for their clients - Simplifying the disability insurance process and saving time - Providing expert support and guidance throughout the sales cycle 2. dibrokerWest specifically solves these problems by: - Offering access to a wide range of disability insurance products from leading carriers - Providing online tools and resources to compare quotes, submit applications, and track cases - Having a team of experienced disability specialists who can assist with underwriting, claims, and service issues 3. dibrokerWest does it differently than the competition by: - Focusing exclusively on disability insurance and having deep knowledge and expertise in this niche market - Being independent and unbiased, and working for the best interests of their customers - Having a strong reputation and relationship with the carriers, which allows them to negotiate better rates and terms for their customers 4. Their proof is: - Their testimonials from satisfied customers who have benefited from their services - Their awards and recognition from industry associations and publications - Their longevity and stability in the market, having been in business since 1989 If your website doesn't answer these questions it's time for an update! #sales #salesenablement #ai

It’s common for Software-as-a-Service (SaaS) companies to have their legal team draft a Sales agreement when they first get started, and use that same agreement in perpetuity. That’s not the best idea, however. Here are 6 reasons why you should regularly update your SaaS Sales Contracts. https://lnkd.in/dT-BMjip

I had the chance to host James Warburton and Mikael Honore out to the Guidewire Software HQ last week for a discussion on operational efficiency and adding value. We had some fantastic discussions with a number of the top minds at Guidewire including Chet M. and Amy Mollin, whom showcased some of the ways in which we are applying GenAI and Machine Learning into the insurance lifecycle. A key part of the discussion was the balance of risk and reward and appropriate safeguards to use when contemplating how to best use these categories of tools. What struck me during the discussion (and it kept re-appearing in other chats as well) was that using knowledge tools in a supplemental capacity is what really unlocks the power of every company's greatest asset - their people. Tools that empower users, help them focus on the details that matter, and assist them in making more informed decisions are incredibly powerful. Reflecting on that concept, and applying it in a larger context, is how I think about the role of a Customer Success professional. Can we play the role of sales support? Sure! Can we play the role of product support? Absolutely! Can we play the role of case manager? Yes we can! But are those activities taking advantage of our unique relationship with our customers? Probably not. If a customer success professional is doing their job well, they are positioned to be a true force-multiplier for their customers. They will understand the top-level strategic direction the customer is pursuing, they will understand the headwinds their customer is facing, they will have a clear view of how their customer is deploying their people (and systems). Couple all that knowledge with what the Customer Success professional can bring to the table in terms of knowledge about their companies products and services, as well as a view of what others in the industry are doing, and other product and service solutions in the market. This combination of insights means the CSM is exactly the person positioned to have deep conversations with their customers about how they can empower their users to do their jobs better, how the company can identify and focus on the details that move the needle in terms of hitting the corporate goals, and make more informed decisions about solutions, products and services will have a meaningful and positive impact on their bottom line. CSMs and CS Directors - Is this how you are engaging with your customers? If not, what is holding you back? CRO and CCOs - Is your organization giving your CS team the tools, knowledge and freedom to engage in this way? If not, why not? Organizational leaders - Are you engaging with your CSM in these type of transformative conversations?

Unlock the secrets of clawback clauses in sales comp plans with us! 🕵️♂️ Let's delve into how they can supercharge your sales game while sidestepping common pitfalls. Ready to elevate your sales strategy? Let's dive in together! 🚀 #SalesforceInsights #SalesCompensation

Bench Depth...There is no "I" in team. Too many a sales process neglects the necessary discipline that can fully enable a potential client to make a well informed decision...."experience is a great teacher" and over the years and many a sales presentation I have found this to be true. I am guilty of the rush to making a sale... Each leg in the customer's process (not the salesperson's) is meant to lead to the next and it cannot advance unless the previous one has been addressed and articulated. Sales is not selling, it is more like discovery to then offer a solution. No body wants to be sold...they want the problem they have solved. Harvest Cloud Cafe's methodology: Our rationale to the core is at each level the process may end or proceed depending on the customer. Our ability to bring clarity to the situation at hand and them seeing the value to proceed. ***Assessment ***Proposal ***Statement of Work ***Contract ***Implementation Schedule This process will yield other benefits too: finding out the most important elements and questions to answer as capabilities are developed and an approach to assisting the company find redundancies, costly vendors, or erroneous expenses that were never realized before. Harvest Cloud Cafe's motto of "Value Delivered" is more than the food arriving on time. It is comprehensive in order for us to understand what kind of VALUE you, the customer, values.... Joe Rogan, Vice President, Sales & Marketing can structure an assessment (at no charge) of your existing and future food service priorities. We provide solutions that are specific to your company impacting your bottom line, better employee engagement, productivity, loyalty and recruitment...long term. www.harvestcloudcafe.com joe@harvestcloudcafe.com 617-571-1294 m