In this article, we will explore how to manage partner payments using Coachbar.
TABLE OF CONTENTS
- Creating a plan using a pre-built template (Outcome based)
- Creating a plan from scratch (Performance/Outcome based)
To begin, please navigate to the 'Incentive Programs' section and click on 'Plans'.
A plan is a set of rules that outlines how and when payments will be made. You can create a plan by clicking on the arrow next to the "Create Plan" button, either by selecting a pre-made template provided by us or drafting your own plan from scratch. Each template represents a specific scenario, and at Coahcbar, we plan to add more templates as new scenarios arise.
Creating a plan using a pre-built template (Outcome based)
Let's create a self-driven partner's incentive plan by using the template named "Self-Driven Partner Program". To do this, click on "Create Plan" and then select "Use This Template".
Note: Currently, we provide templates for only "Outcome" based plans.
When you click "Use This Template", you'll see mandatory fields marked with an asterisk that need to be filled in. These fields are located in your overview tab.
Calculation Frequency: This setting allows you to choose how often Coachbar calculates commission on won deals. For example, if you select "Monthly", the system will calculate the commission on all won deals once a month.
Clawback: This feature allows the retrieval of commission paid to a partner for a won deal in case the customer using your software is unsatisfied with the program and decides to discontinue its use. By using this setting, you can reclaim the commission paid out to the partner who brought the lead. If you select "yes," please provide a link or file containing the policy and procedures.
Under the "Apply to" section, select which partners will receive the incentive program you have created.
If you are unsure which field to fill in the "Apply to" section, please refer to this article. Once done, click Save & Continue. This will take you to the "Base" tab.
Selecting the Base
The base refers to the stage at which the payout will be made. Will it be made once the partners get a lead or a deal? Since we selected a template, the base would automatically be set as "Deal".
Once you have chosen your base, click "continue" to proceed to the next step.
Rates & Metrics
Next, we move on to Rates & Metrics, where you can define either a fixed or percentage value for your commission. If you have multiple products, you can enable "Rate per product" and define accordingly.
Once you have defined your commission rates, click "continue" to proceed to the next step.
Calculation Rules
Finally, let's talk about Calculation Rules. These are essentially conditions that you can define so that Coachbar understands when, where, and at what point commissions should be calculated. You can define as many rules as you need.
You can have multiple main rules, and each main rule can have up to four sub-rules. All sub-rules work together using AND logic, while every main rule works together using OR logic.
For example: The system will select either Rule 1 or Rule 2 based on the available lead and deal stages. Once a main rule is chosen, commissions will be calculated for leads/deals according to all of the sub-rules.
Once everything is configured, Click on Save & Close and make sure to activate the plan.
Creating a plan from scratch (Performance/Outcome based)
Using the "Create plan from scratch" option allows you to customize your own plan, tailoring it to be outcome-based or performance-based.
To begin, please select the "Create plan from scratch" option.
You will see a pop-up where you can select the type of plan. Let's go through the Performance plan in this section.
Once clicked, you will see a similar setup to the outcome based section. Go ahead and fill in all mandatory details and proceed further.
The difference lies within the calculation methods. Lets have a look at this now!
Selecting the Base
The base refers to the stage at which the payout will be made. In this case, we have four different options to choose from.
You have the option to select multiple bases based on your needs. The primary base you choose will be the main one, and every other base you select will be added using the AND formula.
Selecting the Primary base
If "Revenue" is selected as the primary base, you will need to choose a parameter for how the revenue amount is accounted. Choosing "Deal" would mean that you are accounting for the revenue per deal, whereas choosing "Accumulated" would mean that you are accounting for the total revenue from all deals.
If "Quota" is selected as the primary base, you will need to chose between the Source, Leads number, Or Deals number.
Source refers to where the Quote came through, i.e. Manual, Import, Partner, etc.
Leads number refers to the number of leads generated
Deals number refer to the number of deals generated
If "Product specific targets" is selected as the primary or secondary based, you will simply need to select one of your products and proceed ahead.
Sample performance-based configuration
Lets begin by selecting "Revenue" as our primary base.
In the image above, I have selected "revenue" and set "deal" as my parameter. With this setup, I am calculating revenue per deal. Additionally, I have chosen the rate type as a percentage and enabled revenue bands, allowing me to allocate a percentage for different revenue levels. Consequently, any deal falling within these revenue bands will receive a payout of "X" percentage.
Next, I'm adding "Product-specific targets" as another base to the same configuration. Once selected, I choose the relevant product and configure the product target section.
When setting up the product target section, you can input a total sales target for the chosen product, or a per-product target if you have selected multiple products as a base.
When multiple bases are added, partners will receive separate commissions for each base. For example, if a partner achieves the revenue target but not the product target, they will still receive the revenue base commission.
If you need further assistance, please contact our dedicated customer support team at support@coachbar.io, who will assist you with anything else you need. We take pride in providing exceptional service experiences, and our commitment to client satisfaction is at the heart of everything we do.