These Fresh Incentive Ideas Will Drive Rep Engagement and Sales
Has it been a while since you updated your incentive system? Or maybe some of your reps seem a little less excited about what they’re doing these days. A more meaningful and personalized incentive system could be just what you need to energize your team.
These days, consumers are accustomed to getting what they want. At restaurants, they expect the ability to personalize their meals. Shoppers love to order apparel items that contain features they personally selected. When it comes to work, maybe sales reps aren't feeling the love when the only possible incentive they qualify for is the weekend getaway to the resort that’s 100 miles out of town.
Dan Tyre has a few ideas about how you can add some pizzazz to your incentive system. It starts with customization. Maybe one of your reps would love tickets to a sports event. Another rep might like the chance to compete, all expenses paid, in a bicycling charity fundraiser that will require a couple of night in a hotel.
Talk to your reps about their personal preferences. That's what Tyre does. He asks his reps to commit to achieving a goal by a specific deadline and email the details to him, including their hoped-for incentive. With both parties in agreement, they can easily track the rep’s progress.
In too many workplaces, the same few sales reps seem to score the big rewards every year. There’s nothing wrong with publicly and frequently recognizing the reps who "land the whales,” says C. Lee Smith, CEO and President of SalesFuel. The problem is that this system tends to discourage other reps from trying harder. Smith and Tyre both believe sales managers should establish a system that rewards other sales activities. For example, maybe your reps can compete for an incentive related to who saves the biggest account this year. Have you considered an incentive system that results in a prize for the rep who does the most demos?
With a little out-of-the-box thinking, you can come up with sales incentives that boost the fun factor and the results you're looking for.