Broncosfan

Account Manager

Curious about quotas

Hey everyone-

I work in SaaS and specifically in Enterprise New Logos. I have no existing accounts that I haven't closed myself. ADS is $30-40k. In my 1st year I was given a quota of 600k.

Problem is nobody in the history of my company has closed 600k on solely new logos. New logos is relatively new for us as we're an established brand and people typically come to us with minimal outbound. My territory is ~75 enterprise companies with all of their subsidiaries included.

I closed at roughly 50% of quota and that's going to put me 3rd out of 15 reps nationwide. 0 reps in new logos hit 100%.

If my comp matters, I'm at 90k base with 180k OTE.

Given this info, what do you think a reasonable quota would be for 2024?

📈 Closing

💰 Compensation

😒 Quota

11 comments

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NoToBANT

Catalyst

Senior Account Executive

180k OTE on a 600k target is insane.

Either - no one in your business knows how to prospect and close (which is most probably not the case)

OR

your business is making up numbers out their ass, pay a high base knowing they’ll never ever pay your OTE.

Some things I would take into consideration are:
- pipeline taken into 2024
- average deal length
- average deal size

Then work back:
- what’s your closing ratio
- how many qualified opps do you need?
- how many meetings do you need to create those many opps!
- how much outbound do you need to get those meetings?

Then see if it’s even possible to hit the 600k - based on your math, you need roughly 15 deals to get to 300k

Is it possible for you to get to 30 deals?

If not then you need to “optimize one area” if you want to hit your 180k; closing, conversions or outbound

Good luck!

Broncosfan

Politicker

Account Manager

30 deals would be company record. Basically the math right now is 1 whale (100k plus) and 2 pots and pans deals a quarter. I'm definitely going to have to do the math you're showing to see if it's possible with our honestly small territories.

jefe

Arsonist

🍁

100% correct.

punishedlad

Tycoon

Business Development Team Lead

King response

Sunbunny31

Politicker

Sr Sales Executive 🐰

The business is going to set your targets based on what they need to see to keep the board happy and the lights on, not based on % of reps making quota.
NoToBANT has some great suggestions for you to target how you can make it happen. Best of luck.

CuriousFox

WR Officer

🦊

🤩

Revenue_Rambo

Politicker

Director, Revenue Enablement

While it seems like a lot, the 600k does seem realistic. However, getting to that number would require you to change the way you look at and manage your territory.

You've got 75 target companies PLUS their subsidiaries. Assuming they all have at least 2 subs you're not working with 200-300 companies if not more.

The key to your success (or failure) will be your ability to laterally sell into those additional companies. Leverage your relationships, business cases, and ROI points to establish credibility and get in those doors.

saasdatass

Valued Contributor

Account Executive

600k on an average deal size of 30K is actually pretty standard (lower of what I’ve experienced) and from what I’ve seen. The real question is why is that the target if it’s not proven anyone else can get to and how are they gonna help you get there? Channel leads? Partnerships? Referrals? New logo inbounds?

pirate

Big Shot

🦜☠️ Account Executive

Can you ask sales ops to pull you stats on the new logos and how many you pulled % and then use that to negotiate a higher pay or lower quota?

NoToBANT

Catalyst

Senior Account Executive

Based on what he’s written, doesn’t seem like they have a revops team

If they did - they would’ve already made it clear 600k isn’t viable

Justatitle

Big Shot

Account Executive

Referrals, competitors(to the companies you sell to), cold calls. Nobody has ever hit 100% there until you.

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Broncosfan

Curious about quotas

11 comments

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