Most businesses feel the pressure of competition, which makes finding a point of difference or a way to stay ahead of rival companies, imperative to business success. Sales teams inevitably feel this pressure as they are at the forefront, pushing your product or service and convincing customers that your way is the most desirable. And it’s keeping these sales teams motivated and keen to seal the deal that can be the difference between leading the market and falling behind your competitors. This is why a good sales incentive programme can transform your sales operation and keep teams motivated and happy.
Make it personal
A good sales incentive scheme will give your teams an additional reason to do a good job, by giving them specific rewards-driven targets to work towards. The idea is that individuals will achieve an award when they reach their target, which makes them evermore keen to get there. The most efficient way to run these schemes is to make them personal. It’s hard to find a reward that everyone will love, so to get the best out of each and every individual it is important to tailor the rewards. Different people are motivated by different things. The key is to understand what drives each of your employees, which relies on good relationships and getting to know your staff, and also requires an adaptable incentive scheme.
Range of rewards
Programmes that enable you to change what rewards are on offer also bring other benefits, to employers and employees. When more reward options are available it follows that there will be something available that appeals to every member of your team. Numerous options also allow the rewards to change, so staff needn’t work constantly towards the same target, as this would get tiresome and the motivational element would expire. Plus, multiple options enable you to stage your rewards system, so the value of each award can increase and staff can strive for more attractive options as they go along or as they become more senior. This, again, adds to the motivational edge.
Sales teams are notoriously competitive, so introducing a system that allows them to work for awards is likely to increase focus and boost healthy competition, which is an added driver for each individual to achieve more. Obviously with competition thriving, you don’t want it to go too far and negatively affect team spirit or internal relationships. This is where incentives programmes can actually help to promote morale at the same time, as rewards are on offer for all, not only an elite few. These programmes can be a great equaliser in the workplace, whilst positively encouraging individuals to strive for more.
Communication, communication, communication
A happy knock-on effect of incentive schemes is improved internal communications, as they can only work by communicating the rewards to the workforce and asking them to communicate their results back to management. They also provide leaders with a reason to demonstrate recognition of individuals, teams and whole departments, whereby achievements are noted, announced and publicly praised. This further motivates other staff as they will also want this recognition, and it improves company engagement as people can see the reward system in action.
Knowledge is power
Incentive schemes certainly increase focus on targets, which in turn makes salespeople want to improve their product knowledge. If they want to sell bigger and better then they need to know their stuff! As teams, therefore, get to know their product or service inside out, your workforce becomes more engaged, better informed and much more powerful and effective at what they do. Customers will find that queries are answered quickly and knowledgably and the outside perception of your business as a whole is very likely to improve.
All of these elements brought together will ultimately impact your business success and bottom line results. Giving staff members an additional reason to succeed will only result in your business succeeding too. Incentive schemes lead to increased sales results, improved performance, better brand awareness and enhanced customer loyalty. Giving a little something back to your staff through incentives programmes makes them feel appreciated and valued, which in turn improves loyalty and staff engagement. When your staff are passionate about what you do or sell, then the customers will naturally pick up on this and want to buy into that enthusiasm.
We’d love to help you engage, motivate and inspire your team with our innovative Sales Incentives services. To speak to a member of our award-winning team, call us on 0370 405 2020, email email@example.com, or make a quick enquiry to find out how to drive your business performance today.