Sales Incentives… You Need More Than A Catalogue of Prizes
Incentives and reward systems for acknowledging when employees meet and exceed expectations are highly advantageous in the workplace.
Businesses use sales incentives to motivate and engage employees, resulting in higher productivity and effort to successfully meet their objectives. Sales incentives are rewards designed to recognize exceeding expectations, meeting objectives and adding to the overall success of an organization. Incentives can be monetary, merchandise rewards, experience-based rewards or another type of incentive tailored to employee interests.
How do you know what sales incentives are the best fit for your organization?
When integrating a sales incentive program, it’s important to develop a rewards system that is meaningful to the team as a whole, each individual, and to the organization’s bottom line. Consider the following tips for an effective and successful sales incentive plan:
- Find out what motivates the team
- Set achievable team goals
- Determine the plan metrics
- Combine monetary and non-monetary incentives
Motivate your sales team and remember that money isn’t everything. Get creative with your sales incentives and the prizes will be more meaningful and engaging. Think outside the box:
- Experience rewards (concert / sports / movie tickets)
- Merchandise prizes (iPad, smartwatch, Fitbit)
- Professional development (language learning courses, advanced selling seminars, cooking classes)
For more great ideas on sales incentive programs, check out what the teams at BI Worldwide offer.