An accelerator in sales is a type of commission structure that rewards salespeople for exceeding their sales goals. It is a way to motivate salespeople to sell more products or services by giving them a bonus or other incentive for hitting certain milestones, like 100% quota attainment.
There are many different types of accelerators, but they all work in the same basic way. When a salesperson meets or exceeds a certain sales goal, they are awarded an additional bonus or incentive. This bonus can be a higher percentage of sales, a flat fee, or another type of reward.
Accelerators can be a very effective way to motivate salespeople and increase sales. They can also help to attract and retain top talent. However, it is important to use accelerators wisely. If they are not carefully designed, you can end up overpaying a rep significantly.
Here are some tips for using accelerators effectively:
- Make sure that the accelerator is aligned with your company’s goals.
- Make sure that the accelerator is fair and equitable for all salespeople.
- Make sure that the accelerator is easy to understand and administer.
- Monitor the results of the accelerator and make adjustments as needed.
For compensation plan samples that include accelerators that you can customize to your business, check out , Commission with Accelerators & Decelerators, Commission with Accelerators and Milestone Bonus, and one of our favorites, Commission with Multi-Year Accelerators.