What Rewards Will Turn Your Sales Team On
Do you know what rewards will get your sales team spurred on to even greater performance? Most sales managers rely upon cash incentives to boost their team’s motivation to meet or exceed goals. But money does not always produce the desired results.
If you really want to ignite your sales reps’ productivity, you need to evaluate your team members one-by-one to create the kind of meaningful reward that will really inspire each person. In other words, you need to choose the right carrot for the right sales rep.
You know the result you seek (driving individual and team sales performance to meet company goals). Use your tried and true solution selling training discovery techniques to select the sales incentives that fit your team.
Here are some reward categories to consider:
The promise of cold cash drives some sales reps…but not all. The problem with this kind of reward is that its value decreases as soon as the money disappears into the wallet. There’s not much emotion tied to money rewards. For many reps, you will need to look for something more meaningful, memorable and lasting.
Public recognition of your high performers can work. They like being saluted for their success and appreciate the accolades of their co-workers. The advantage of this kind of incentive is that it is inexpensive, though still effective, for small and growing companies with few discretionary funds. Another often coveted and inexpensive reward is the offer of time off…though some really competitive sales folks don’t like to miss even a day in the field.
If the gift has meaning, i.e., a spa day for a hard-worker who rarely gets the luxury of being pampered or a box seat at the stadium for an avid sports fan, then it can be a reward that makes a difference. More costly but having a more long-term effect are gifts of travel or adventure. Some large corporate sales teams know that if they reach their goals, they will be included in the exclusive year-end trip. If you do it right (no scrimping on flights, meals or hotels) and have the funds, this may be the best choice to get the entire sales force involved in a positive competition.
4. A Range of Choices
You could even appeal to the entire team at once by offering a variety of rewards…from outright cash to the latest electronic gadget. The key is to find what will motivate the greatest number of reps.
What make sense for your unique sales strategy, sales culture and talent plan?