Sales incentives - There's more than one way to motivate and reward your sales team
Sales incentives have a central role to play in improving the performance of your sales team. Pay alone is unlikely to provide the degree of motivation that will really take your sales team to the next level. Choosing rewards for your incentives that have great positive appeal for your sales people can be transformative in encouraging positive behavioural change within your sales team. But they need to be budget friendly for you too, otherwise, the cost can cancel out the end result. Achieve the right balance and business productivity could reach new heights.
Job-related incentive rewards
The appeal of job-related rewards is that the individual can only access these benefits via achievement. It could be additional holiday days awarded to top sellers, for example, or first choice of which days they want to take off over Christmas. Some team members are motivated by the opportunity to take a slightly longer lunch break, flexible working or getting a prime parking space.
What works will depend very much on the organisation, as well as whether the culture allows the team member to take the reward. There is little motivation in extra holiday time if the culture of your company is such that the sales team is rarely able to take all their holidays anyway. Therefore, tailoring job-related rewards to your organisation is essential to ensuring motivation is increased.
Tangible incentive rewards
The most effective tangible rewards are those that your sales team covet but most likely wouldn't get - or be able to get - for themselves. Setting the right incentive requires some knowledge of the people working in the sales team and striking the right balance in choosing rewards that will have a broad appeal. Is your sales team likely to get excited about a new iPhone or a brand new smart speaker - or do they already have one each at home?
Tangible rewards don't necessarily have to be expensive but they do need to be appropriate to the business culture and the people within it. Everything from technology to vouchers and merchandise could appeal. When rewards are delivered, sales team morale should improve and the cycle of achievement and reward becomes self-perpetuating.
Experiential incentive rewards
Experiential rewards really work, particularly if you're offering experiences that members of your sales team may simply not be able to get on their own. Exclusive access to a popular sports match or music event, for example, could be incredibly motivating for employees who would have no other way of experiencing that game or gig.
Some experiential rewards are better off given to a team, as this not only helps to drive overall team motivation but can also provide the space for some much-needed team bonding at the same time.
Experiential reward options are wide-ranging, from travel through to spa time or a skydive. Once you understand what your sales team wants and what they need, both in work and out, then the right choices are easy to identify.
Active are experts in implementing sales incentive programmes and creating and delivering rewards to motivate your sales team. To find out more please contact us.
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