Selling is a money-driven industry. There’s no denying that commissions and bonuses are almost everything for your average sales rep. Yet other professional perks and perks are more important than we often assume when it comes to incentivizing staff. In fact, 80% of Americans would choose a job with benefits over the same job with 30% more pay but no benefits. So how can you leverage non-financial incentives to motivate your sales team? How should you balance financial and non-financial incentives to get the best results? This is where sales incentive programs can be extremely helpful. Sales incentive programs Sales incentive programs typically combine financial and non-financial incentives in a package designed to best motivate your team. search mobile phone numbers australia They reward salespeople for meeting and exceeding their goals, offering something in addition to the standard compensation for outstanding performance.
Listen up: 96% of all workers say travel incentives are important to them. Additionally, nearly three-quarters say they have felt increased loyalty from travel-based incentives. Despite this, American companies notoriously offer fewer paid vacation days than those in other countries. Employees in Brazil, for example, get an average of 30 vacation days a year, while US citizens working in the private sector only get an average of ten days of paid vacation after a year of working for a company. And those are the only ones who actually get paid vacation days – only 76% of private sector workers do. Companies can use this to their advantage by giving workers more of those coveted vacation days, whether to attract top talent or to improve their performance.
Rewards can be an incredibly cost-effective way to motivate your sales team, but the tricky part here is legitimizing your rewards system. It’s imperative that your reps actually want to win. One way to do this is to run the same rewards program every month to ensure it gains credibility. It also adds a competitive element ,sellers are inherently competitive and won’t sit idly. Zy and watch the same person sweep the deck every month. Consider rewarding the person with the highest success rate, the person who generated the most revenue, or the person who went the extra mile for a customer — or all of the above. If your budget allows, include a prize along with the prize for extra incentive.
It can be a gift card, tickets to events or an experience day. Be sure to outline the price at the beginning of the month so the team knows what they are looking for.