Commission-Based Sales
Aptitudes, Corporate , Street Smart and People Skills
Skills
Prospect education
Collaboration
Return-on-investment demonstration
Buyer-seller agreements
Listening skills
Problem-solving skills
Understanding the purchasing process
Interpersonal skills
Persuasion skills
Questioning skills
Time management skills
Prospecting skills
Social selling
Storytelling
Business acumen
Organizational Skills
Attention to detail
Mastery of software and other sales technology
Corporate Applications
Knowledgeable in the brand, as well as products and services their company offers
Building and strengthening relationships with potential and current customers
Persuading customers to make purchases
Generating repeat business from customers
Strengthening branding, marketing and promotion efforts
Working as a team with other salespersons to close deals
Attracting new leads, prospects and customers to a company
Differentiating their company from the competition
Helping organizations better identify their target audience and effectively market to that audience
Commission based Opportunities
Direct Sales
Dropshipping
Affiliate Marketing
Referral Sales/ Brokering
Types of Commission
Salary plus commission
A base income with a commission component based on amount of sales made.
Straight commission
No base salary - all income is made from sales.
Straight-line commission plan
A scalable commission plan where upon reaching a certain sales quota, the amount of commission increases. If their sales are 30% of their sales quota, they can receive a 30% commission. When their sales are 60% of their sales quota, they can receive a 60% commission
Draw against commission
Sales person gets an advance sum (Draw before sales) that he/she gets to keep as long as they make more than that in sales. If target is not met, they must return the emoney. If they exceed the target, they can get additional sales commission.
Graduated Commission
There are different commission levels depending on the target met. The sales person can move up each level after improving their performance and meeting specific milestones.
Bonus Commission
Sales person can get bonus commission if they exceed certain targets. Usually used for a limited time.
Variable Commission
Commission varies dependent on employer's business goals, where different kinds of product lines sold may get more or less commission depending on the goals.
Relative Commission Plan
Besides a basic salary, the amount of commission increases as the sales person meets specific sales targets.
Absolute Commission Plan
Sales person earns commission upon performing and meeting specific sales activities and tasks. For example, bringing in a new customer.
Territory Volume Commission Plan
Commission is based on specific geographical locations to encourage growth or expansion of business in target markets.
Residual Commission
The sales person continues to earn commission from a client's account as long as the client continues to make payments on their account. This can still take place even when salesperson leaves the company.