HarryCaray

HMFIC

SPIFs

Lately my company has been tossing out SPIFs for closed deals on some of our latest product offerings in order to boost up the user base, get customer feedback on them, etc. I think it's an effective strategy. I'm personally always motivated by extra money. Also forces me to continue to try and upsell existing customers with new features. Do y'all see a lot of SPIFs? Feel like they're helpful? Distracting at all?

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23 comments

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funcoupons

WR Officer

👑

We get spiffs for being top performer of the week. There are good prize options. I like it, celebrates the little wins and keeps the friendly competition going.

HarryCaray

Notable Contributor

HMFIC

what kind of prizes? They just do cash here, which is obviously great, but throwing in a cool prize could add to the fun I think.

funcoupons

WR Officer

👑

Choice of gift card, bottle of liquor/case of beer, nice company branded swag. I'd like to see cash but then it would be taxable...I guess they're supposed to tax gift cards too but they don't. Shhh

HarryCaray

Notable Contributor

HMFIC

Also just found out recently that SPIFF/SPIF wasn't originally an acronym like I had always assumed. Apparently people applied backronyms to it but it was originally just a word. The more you know...

RaymundoFlex

Opinionated

fascinating. i was wondering what the hell it stood for as i was typing it and deliberating if it needed another 'f'

Jbeans

Opinionated

Director of Sales

No way? Who knew!

JC10X

Politicker

Senior Sales Manager

Last thing my company did was give out company swag. I know, sad. But true.

Calico

Celebrated Contributor

Corporate Trainer

I don't think my company has ever done SPIFs, and I can't even get swag since I'm full WFH. So sad. :(

Is another coffee mug for my collection too much to ask for?

JC10X

Politicker

Senior Sales Manager

Haha, its too little if you ask me!

HarryCaray

Notable Contributor

HMFIC

I feel like they do that when they just need to get rid of shit haha

Kevinbacon

Opinionated

Sales Manager

Cash is king. PTO days are queen

RaymundoFlex

Opinionated

Poetically written. Agree agree agree

RaymundoFlex

Opinionated

cash is king - non taxed spifs are where it is at. don't put it in my paycheck. a proper spif is tied to meaningful activity so it shouldn't be distracting. i find top of funnel spifs best for my future pipeline and quota but those are also pretty easy for people to fudge the numbers

HarryCaray

Notable Contributor

HMFIC

non-taxed is a good call out. So far I've only ever seen pre-tax cash amounts for prizes, which just get demolished by the gov't

SlinginSoftware

Politicker

Account Executive

We will occasionally have SPIFFs, but I usually just ignore them because they aren't going to make me any significant money. I feel like more times than not, SPIFFs are more of a gold star and you'll get a call out on a company wide call.

Gift cards sometimes, change in comp that MIGHT increase my take home by a few hundred bucks. No thanks. I'm working for that caaaash, not the recognition and pat on the back.

I'm seen reps sell to the SPIFFs instead of maximizing the comp plan/revenue... My personal opinion is that they are distracting

HarryCaray

Notable Contributor

HMFIC

Gotcha, yeah ours are usually like $3k minimum. But if it was just a couple hundred bucks I wouldn’t pay them much attention either.

Tres

Politicker

Account Executive

SPIFFS are good, but make sure the rules are clear. Unfortunately I've been through a few that never panned out due to unclear rules/gotchas. If you're going to offer them, make sure the sales team knows very clearly what applies and what doesn't

HappyGilmore

Politicker

Account Executive

We have the occasional SPIFF here and there and usually the reward is cash. I think they're helpful when used effectively, rather than having a new SPIFF every other week.

Lucy710

Politicker

Channel Account Manager

My company will gross up any cash spiffs! So if the spiff is 100, they’ll give you 140 or whatever they calculate the tax rate is. :)

DarkRose

Contributor

SDR

A chance to spin a wheel for $25….. 🤦‍♂️

sales101

WR Officer

Head of Channel & Alliances

Love a good SPIFF, especially if it's not related to closing deals directly but more so building pipeline/coldcalling/running discoveries- it means that people who are in a bit of a dry spell can still win from them- it's a totally equal playing field.

user092495

Account Executive

Love a spliff

MR.StretchISR

Politicker

ISR

Wow I'm jealous - I'm in the states but work for an Aussie company and they are freshly terrified of COVID. It's gonna be awhile...

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HarryCaray

SPIFs

23 comments

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