Vertical IQ pays its salespeople a 15% commission on sales
Bobby Martin · EP 541: VerticalIQ Hits $175k MRR, Helping 140 Banks Prep for Company Meetings with President Bobby Martin · Jan 16, 2017 · at 15:22
Vertical IQ co-founder Bobby Martin details sales compensation and incentive structure for their enterprise sales reps.
0:00 / 0:07exact quote · 8.0s
720p mp4 · rendered on demand · StarZero watermark
“Our salespeople earn a 15% commission, you know, on their sales, and they also get a small piece for the renewals.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Bobby Martin
Traditional publishing outperformed online marketing for Martin's book
“I thought that a lot of our sales would come from online, like from people just seeing me in the media and that kind of thing, which we've gotten a fair amount of that. But quite frankly, that's been a little bit disappointing. You know, the traditional bloggi…”
Vertical IQ prices by division headcount with unlimited seats
“We don't charge per seat. We charge according to the number of bankers, for example, in particular divisions who will benefit from our service using it as a pre-call preparation, the number of calling officers. But then we let the bank have unlimited seats. So…”
Vertical IQ serves over 140 banks and 30,000 total users
“We have almost a 150 banks, a 140 some odd banks. We have 30,000 plus users of vertical IQ within those banks.”
Vertical IQ's ACV averages $15,000 to $20,000 per bank
“The average contracts between 15 and 20,000 a year, but it, those are quite, quite a range, you know, it starts at 5000 a year and it goes all the way up to a quarter million a year, but on average it's in around that area.”