What is a SPIFF account?
SPIFF or SPIF or SPIV refers to a manufacturer or employer paying a small, immediate bonus for a sale or even a demo to a salesperson. These can be good for your customers if these “paid recommendations” are appropriate and truthful.
What is SPIFF money?
Spiff stands for Sales Program Incentive Funds. It is incentive program companies and businesses use to drive sales. When merchandise is not selling well, or if inventory items need to be sold or cleared, the company runs a campaign.
Is SPIFF a commission?
A SPIFF, or Sales Performance Incentive Fund, is a short-term sales incentive to encourage immediate results. ... On the other hand, a commission is a sum of money paid to an employee upon completion of a task, usually by selling a certain amount of goods or services.