Who doesn’t have a tight budget these days? It’s become the norm to pinch pennies and squeeze every excess dollar from the annual budget. And while incentives to the sales team could be justified as an “excess” expense, you might want to re-think that.
A motivated sales team will be more productive – will sell more and make more money for the company. A sluggish sales team who’s simply going through the motions will do little, if anything, for the company’s bottom line.
It’s possible to incentivize your sales team and not break the bank. Remember that money is not the only “language” your sales team speaks. Incentives can and should come in a variety of sizes, shapes and flavors – a sort of Neapolitan approach if you will.
Vanilla – “On the Job” Perks:
1.Recognition as “sales person of the week or month,” complete with a company-wide announcement and fan-fair – maybe even a crown if that fits your company culture.
2.Be the first guy or gal to get the upgraded iPad, laptop or smart phone. Allow the winner to hold a training session when the rest of the team gets the new gadget.
3.Borrow the “line leader for the day” approach from elementary school days and adapt it to the adult world of business. Top salesperson gets to chair the next department meeting, issue assignments or screen leads
Chocolate – Individual Tangible Incentives:
1.An extra day or two of vacation scheduled at the recipients discretion as long as deadlines and meetings aren’t missed.
2.A family outing to an area destination. Make a “services for tickets” exchange with a local attraction(s) or get tickets at a reduced cost in exchange for advertisement.
3.A suit or otherwise dress-code appropriate attire. Seek a volume discount, an advertising arrangement or a promotional exchange at a local clothing or shoe store.
Strawberry – Team Motivations:
1.Once the team hits the monthly quota, host an achievement party. It doesn’t have to be huge or expensive to be fun and provide recognition and appreciation at the same time. Enlist the “social organizers” in the company to host a different celebration each month. Make the time of recognition, food and socializing an event to look forward to.
2.Brag on the team across social media. Go big with photos and details or keep it simple – again, whatever best fits your company culture. A demonstrated belief in your sales team will reap rewards in the loyalty department of both customers and employees.
3.Reward the team with a group outing – bowling, pizza, a ball game – something fun that creates a spirit of unity. Spending time together outside the office can strengthen the team bonds while also spurring on friendly competition.
When it comes to effective sales incentives, remember these two principles:
1.In the same way everyone has their favorite flavor of ice cream, different sales incentives will appeal to the various members of your sales team.
2.Effective sales incentives don’t have to cost an arm and a leg. With some planning and creativity, you can offer great perks on a tight budget.
From consultative assessment to the launch of your new marketing strategy, ASJ Partners will provide expert services to Win More. Sell More. Grow More and Be Found More. Contact us today.
