We are selling specialized accounting software for real estate management companies. As you would guess, nobody changes accounting software every month, so our sales cycle is 1-2 years and we are having trouble finding motivated sales people.
Everybody suggests, that sales people should have bonuses to drive them towards the deal. We have set up a bonus system, that the person who makes the sale, gets 50% of first year's revenue of that client. It looks quite generous, but as it takes 1 or 2 years to get the deal closed, most of the sales people so far have given up. They expect quick money and quick feedback, but here it doesn't work that way.
We have considered few alternatives:
- Offer bigger bonus after sales revenue doubles.
- Offer ownership in the company, after sales revenue doubles.
- Don't bother setting up bonuses, just have someone working on prospects.
So far we haven't settled with any of them. Do you have any suggestions, what kind of sales bonus system might work for long sales cycle?