Hey everyone. Was curious if there is currently a system in place or if Vendasta was planning on building in some sort of commissions split system for internal salespeople. If not does anyone have a separate system they are using in conjunction with the Vendasta platform? All comments and suggestions are welcome.
Managing commission for sales persons within the system would be a great feature request indeed.
As usual it seems easy but has some complexity. 1 sales person, 2 sales person, split between two etc.
Yeah, I mean it could reside right in the sales drop down in Partners Ceenter. I may have different commission splits based on market and a sliding scale based on sales. You could then add the ability to pay those commissions out via Paypal or Stipe. Vendasta would make processing fees off of these transactions. I use a cart software called Thrivecart that does something similar called Joint Ventures.
That's a great feature request. I have no idea what it would take to deploy, but I have mentioned it to a team internally. Thanks!
Thank you sir. Probably a bitch to implement but something that would help agencies scale exponentially.
Hey thanks for the idea! We've had this one in the back of our minds this year, but no concrete plans as of yet to build a commission calculator. Requests like this help us determine what's MOST important and what to work on next, so keep them coming!
When we line up commission calculator work, you'll be the first to know.
Thanks, man! You guys are already doing a phenomenal job at quickly rolling out great feature sets.
Thank you. This is not an easy task to achieve. There are several complexities and parameters that one need to take care of in order to architect it from the ground up as flexible as possible. I just bring in a few, but if you want to go in more detail, please just contact me.
- Commission as a fixed amount per contract or a percentage of value
- Commission from Net Revenue or Gross Revenue (VAT)
- Commission from Revenue (Net or Gross) or from GOP (Wholesale minus RRP)
- Commission only for Sales Person 1 or split between Sales Person 1 and n
- If Commission to be split between Sales Person 1 and n, what the ration (% split)
- Commission for initial contract commitment might be n1% while commission for renewal of a contract might be n2%, again all the above might apply as well.
When setting this up, one could also think to make us of the same model in markets. Markets could be resellers of a partner and currently there is no option for any calculation, billing or whatever for another tier in the value chain. A commission model (revenue share) could work there as well.
Looks like you've been getting lots of good replies on future plans, but I also wanted to make sure you (and others) were aware of one place in the Sales and Success Center that can make tracking and calculating commissions a bit easier for now.
If you go to the Pipeline tab of Sales and Success Center you can switch from the Board view to the Table view. You can then export a CSV file from the table as it appears including any filters that may be active like "Assigned Salesperson", "Closed Won", or the range of dates you want to appear!
This does rely on your sales team doing good admin work...but I imagine if it helps them get their commissions quickly and accurately there is a little incentive!
Hopefully, this helps save you a little time in the months ahead! Let me know if you have any questions about this table and workflow!
Thomas, this is exactly in line with what I was thinking about. Great info! Very helpful!
Thank you for mapping this export with the calculations. For now and when the time comes this will work like a charm! Thank you for explaining!
This is definitely a must have!
I agree, this would be a great thing to have. Right now I use Stipe as that is where all my recurring billing is done. I'm using Stripe Split Payment and give me sales reps a recurring percentage of the client that sold.
Seeing that Vendasta uses Stripe as well for processing payments I'm hoping this is something they will add in.
@Robert White So you are paying your sales rep a residual on the clients they sign up?
@K-O Some people call this a "golden cuff" some companies do this to make sure and incentivize the sales reps and to keep them around, they know if they leave they lose the recurring revenue. Incentive to stay - Incentive to sell more too.
@erick562 super familiar with the model, it's just not too common in the marketing world from what I've seen. I assume you've had good success with this structure. Are you paying them monthly or quarterly? How are you guys structuring it? I appreciate the insight!
@K-O How I model this is 25% GPM - gross profit margin. Then the residual is 1% - 3% on a sliding scale depending on volume monthly. I have qualifiers like a percentage on new business / upgrades.
@erick562 I have had great success doing this. I believe in paying my sales rep very well as if it was not for them going out and getting that client I may have never got them. But yes this also keeps them around, I do have some things in place to assure they keep selling and not just build up a large residual and kick back.
@Teych9 Hey man so sorry just seeing this I stay crazy busy. Send me a message on my profile with you email and I'll be glade to jump on a call with you.
Agree 100%. The only reason I haven't implemented a residual is because the tracking component is so much time & work. Sounds like you have a pretty good system down through stripe though. I'll have to look into that!
A commission component in the system is a must have. I understand the complexities, but it's also not rocket science either. This would help my ability to scale and manage a sales team exponentially and provide a place for the sales team to track their commissions without wasting time with their own spreadsheets. Please advise if this function is on the horizon.