WebSep 7, 2024 · A spiff, or Sales Performance Incentive Fund, is a type of cash incentive that motivates salespeople to promote a certain product or assortment of products. The word “bonus” is frequently substituted for this phrase. Vendors and employers frequently use the spiff to launch new products into the market or boost sales within a predetermined ... Webspiff2 [ spif ] Slang. noun a bonus or other form of remuneration given to retail salespeople for promoting the products of a particular manufacturer. verb (used with object) to reward …
Sales spiff Definition & Meaning Partnerstack
WebAug 13, 2003 · Spiff. A bonus payment for closing a sale or making a deal go through. Unlike commission, spiff is paid out directly in cash, from the manager/owner/whatever to the … WebA spiff, or spiv, is slang for an immediate bonus for a sale. Typically, spiffs are paid, either by a manufacturer or employer, directly to a salesperson for selling a specific product. It is … bring balance to the force not join them
SPIFF definition in the Cambridge English Dictionary
WebJan 6, 2024 · A SPIFF (also written as SPIF or SPIV) is a short-term sales incentive strategy where sales reps are awarded a small, discrete bonus for closing a sale or booking a … WebSPIFF (Sales Performance Incentive Fund) is a short-term reward that sales reps receive for meeting their assigned goals and objectives within a specific time frame. Since SPIFF is … WebJan 23, 2024 · Spiff stands for "Sales Performance Incentive Fund" (spelled with an extra "f" for some reason in some cases). It’s a short-term, incentive-based initiative meant to motivate sales representatives. The concept of a spiff boils down to telling your sales … can you prevent scleroderma