While Sales Incentive Programs are widely used, there are some consistent inhibitors to success. Without developing a plan around these items, your sales incentive program may not achieve the desired results. With that said, we’d like to share some of our findings, so that you may have a better understanding of how to develop a successful Sales Incentive Program.
What are the Top 5 Challenges we hear about:
- Difficulty in the creation of an effective promotion that aligns to business goals and initiatives within a limited budget
- Increasing the level of ACTIVE engagement of the salesforce
- An internal belief that sales incentive programs are paying people to accomplish what they would have done anyway.
- Desire for easy access to information about the health of the promotion and metrics, which provide hard data linking.
- Difficulty achieving efficient administration of rewards and reporting performance to sales management.
So how can you develop a successful Sales Incentive Program?
After gaining a multitude of ‘best practices’ from our clients and current research, we invite you to read our free eBook: Sales Incentive Programs that Make a Difference, where we highlight 9 steps to creating the ultimate Sales Incentive Program. We will go into more detail in the eBook, but here are the steps in brief:
1) Develop a Baseline
2) Define Program Goals and Objectives
3) Develop the Right Structure and Criteria
5) Let Participants Know how they are Doing
6) Match the Reward to the Achievement
7) Create a Moment
8) Assess, Listen, Learn
9) Share your Results and Success
We hope this helps in your sales incentive program endeavors!
About the Author
Engaging employees of various backgrounds, interests, and generations may seem next to impossible. As an employer you want to reward your workers on an individual and meaningful level for reaching business goals, but may not have the time or knowledge to do so. If your organization is suffering in the areas of: retention, attracting new talent, low satisfaction, or safety issues among others, consider partnering with Perks. By pairing our Science of Motivation™ methodology with your unique business needs, our incentive programs have a proven track record of strengthening all areas of employee engagement, most importantly: productivity and ROI. Our programs provide unique employee engagement solutions by rewarding workers based on performance. Whether rewarding an employee for going above and beyond, referring new talent, or taking the necessary steps to prevent workplace accidents, Perks will work with you to design the ultimate incentive program to meet your needs.More Content by Perks WW Employee