Top Sales Incentive Ideas
Creative Ways to Improve Sales Team Performance
When considering a Sales Incentive Program, it's important to ask yourself, "Why?" Why are incentives necessary? What is the role of incentives? Asking why ensures that you take a deeper dive into the core of the issue and the reasons behind the solution--implementing a Sales Incentive Program.
Sales Incentive Background
Sales Incentive Programs reward top performers. They create healthy competition and a positive environment designed to help Companies achieve structured objectives. A well-designed sales incentive program will contribute directly to a Company's bottom line by driving specific sales outcomes and tying program costs to the achievement of sales outcomes.
Have Some Important Conversations
Many sales team managers have some sort of existing monetary reward system in place to encourage performance. And, while monetary compensation is often the go-to for employers, study after study shows that non-monetary compensation has more long-term success with engagement and productivity.
It is important to keep a clear line of communication regarding employees' motivation to sell a product, as well as the pressure involved with incentivizing employees. Ensure that the intent behind the incentives is acknowledgement; not the reward itself.
Get Creative With Your Incentives!
Unique, non-monetary rewards tend to add an exciting dynamic to everyday work, as well as add a personal touch to what can be an otherwise monotonous day.
Get creative with your rewards. Some sales incentive ideas include:
- Starting with smaller, more realistic goals
- Giving the gift of trust, time, and relaxation
- Getting personal and helping out at home or sending a thank-you note with a small token
- Rewarding your employees with Flip Flop Friday, PTO, or being Boss for a Day
- Recognizing your team members directly for their excellent work
- Implementing gamification, such as scavenger hunts, raffles, parking pass giveaways, and more!
Today's prospective employees say that company culture and recognition for their accomplishments outweigh compensation and benefits. Thus, companies with highly engaged employees outperform their competitors by nearly 150% and a more positive workplace is a place your employees will enjoy.
A sales incentive program solution with Online Rewards features a participant dashboard, gamification, and custom catalogs with many exciting reward options, and will motivate and help retain high-performing employees. Contact Online Rewards today to learn more!