It's a new year! What Sales Incentive Programme resolutions could you make to make sure your sales team are working as effectively as possible?
It's a new year, and that means New Year's resolutions! While you may have a number of personal goals you want to achieve, don't forget to consider what you could be doing better as part of your sales incentive scheme. After all, if your organisation is looking to increase revenue this year, one thing that will help get you there is a motivated sales team.
What New Year's resolutions can you make to help improve your Sales Incentive Programme in 2019?
1) Ask for feedback
You want to create any sales incentive scheme with the end-user in mind. That means putting yourself in your sales team's shoes and designing a rewards programme according to what they'd actually want. One way to do this effectively is to ask for regular feedback - and who best to help you find out exactly what your employees would like from a sales incentive scheme than the sales team themselves?
Make it a New Year's resolution to introduce quarterly surveys, asking for feedback such as:
Are you happy with the rewards on offer?
Are you satisfied with the amount of choice offered in rewards?
How easy is the rewards platform to use?
Do you feel the sales incentive scheme has an impact on how motivated you are to achieve your targets? If not, why not?
Is there anything you would like to change about the sales incentive scheme?
Do you feel the rewards and their frequency match the effort you put into your work?
The above are just a few examples, and the questions you ask should be directly linked to your specific rewards programme and its workings.
2) Make sure your whole sales team gets rewarded
One of the most common issues with Sales Incentive Programmes is that they only reward the top performers - those employees who've been in the game for years and know exactly what is required to sell your products. This can cause bitterness among employees who are new to your company and who don't yet have an established customer base.
Having a great Sales Incentive Programme is an excellent differentiator for your company.
That's why you should conduct regular reviews of your Sales Incentive Programme where you monitor who is getting a reward and how often. If you notice that a specific group are always getting rewarded at the expense of others, it may be a sign that your scheme needs restructuring.
If this is the case, consider introducing different incentives for different levels of achievement. This way your top performers can still get high ticket items such as travel rewards, while those who are newer to the game won't feel left out because they'll still get lower value items for hitting smaller sales targets.
3) Promote your Sales Incentive Programme more effectively
Having a great Sales Incentive Programme is an excellent differentiator for your company. So many organisations are competing for the best sales talent - it's up to you to find a way to stand out from the rest. So making a New Year's resolution to discuss your programme in job interviews and adverts is an excellent way to draw the best talent in. It will help to stand out to candidates, many of whom will be used to drab, poorly thought out sales incentive schemes that don't really motivate people.
A Sales Incentive Programme with Power2Motivate
If you want to rehaul the way you reward employees, or even introduce a new scheme altogether, reach out to the experts at Power2Motivate today. With Power2Motivate by your side, your salespeople will be living and breathing your brand. We specialise in motivating employees to achieve their KPIs, maximise cross-selling opportunities and increase lead-referrals, all while reinforcing positive behaviour and motivating team members.