If you’re looking to copywrite a product or service and you’re wondering where to start, consider “paid on commission”.
“Paid on commission” is frequently used in combination with “speaker series”, indicating that the sales professional is being compensated for the content of their speech. It can also be used to suggest that the commission is based on the volume of sales – the more you sell, the more you’re paid.
In reality, “paid on commission” can be used to describe almost any arrangement where a salesperson is being compensated for the success of a business, organization, or initiative.
Here’s a look at how to copywrite \”paid on commission\” in the workplace.
Understand The Niche And Market Opportunity
When you’re paid on commission, you’ll often have to consider the niche and the market opportunity within that niche. The more you know about your prospective customers and their needs, the better you’ll be able to craft a compelling offer that will make them consider you instead of your competitors.
In order to do this, you’ll have to look into the existing market conditions, competition, and the general state of mind of your target audience.
Determining The Amount Of Commission
The amount of commission you’ll earn on a sale depends on a number of variables. First, you’ll have to determine how much you’re being paid on a regular basis. Second, you’ll have to consider the scope of the sales you need to make in order to qualify for the commission.
If you qualify for a certain percentage of a large sale, you’ll likely make more money in one month than you would if you’d sold a few small ones. It all depends on how efficient you are as a salesperson. Consider what you’ve got going on in your life and work situation, and make some assumptions about how much time you have to devote to generating sales. Then, create a plan to work your way through those assumptions and figure out your exact number.
Setting The Sales Goal
Once you know how much you’re being paid on a regular basis and have a sense of how much you need to sell in order to earn that much, you can set that amount as a sales goal for the month. This will help you track your progress throughout the month (and year). Setting aside a number of sales for a particular time period can also help keep you motivated during that time period. For example, if you know that you’re being paid on commission and you’ve set a sales goal of $10,000 for the month, you’ll know that you can expect to earn a commission of $1,000 for the sale of every $10,000 worth of goods or services.
If you meet that goal, you’ll earn $10,000. If you exceed it, you’ll earn $10,000 plus 50% of anything above $10,000. If you don’t meet the goal, you won’t earn anything. You can also set sales goals for the year in the same manner, noting that you’ll need to sell a total of $25,000 worth of goods or services in order to earn a commission of $5,000.
Avoiding Disappointment
In setting sales goals, it’s important to avoid disappointment. If you meet that goal but don’t earn the commission you were counting on, you may end up frustrated and underachieving. It’s also important to track your sales and commission information so that you have an idea of what is and isn’t working. For example, if you track your sales and find that a certain technique isn’t generating the results you’re looking for, it may be time to try something new.
Incentivizing Your Sales Team
Your salespeople will be more engaged and productive if you can incentivize them to do what you want them to do. This may mean paying them additional money or providing additional benefits. Consider what your organization can offer your sales team and what will get them excited about working for your company. Is there flexibility in the workplace with regard to taking time off? Is there an opportunity for professional growth? Are you providing health insurance benefits? Is there a happy hour at work? These are all things you can do to incentivize your sales team and get them to work harder.
The Bottom Line
Paid on commission is a lucrative opportunity for those who can effectively use it. To ensure that you’re maximizing your potential and meet your sales goals, consider all of the variables that could impact your earnings. Then, set a plan to work through those variables.