Incentivizing Your Sales Force
June 2018
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Incentivizing Your Sales Force
Seven ways to motivate your sales team

Being a sales representative is challenging. If your company has a sales force, it’s important to implement some practical strategies to help keep the group motivated. Here are seven specific ideas you can implement to incentivize your sales team.

Cash

Business News Daily contributor Marci Marti explains that cash rewards can come in a variety of forms, such as cash bonuses for the top performer each week or a monthly contest each team can participate in. If you opt for a contest, the target could be the most products sold or the most new accounts opened. To switch things up, base a cash incentive contest on effort rather than results. For instance, Dan McGraw, founder and CEO of Fuelzee, shares that his company ran a contest that rewarded the salesperson who got the most “no” responses each week. 

Experiences

Dinner with executive leaders is often a great incentive for sales staff. As Handshake contributor Brandon Gracey explains, sales reps are naturally wired to pursue quality conversations and connections with those higher up the corporate ladder. Sharing a meal with an executive will not only help a sales rep advance their career, but it will also give them a fresh perspective on the company from the leader’s viewpoint.

Tangible prizes

Some workers value having fun on the job more than gaining a monetary reward. Corporate games with physical prizes are great for keeping your sales group engaged, Martin advises. Each time someone reaches a team goal or sets a sales benchmark, give them office gadgets like cube decorations, a chair massager or a desk game. You can also play a company-wide game and reward whichever sales group earns the highest score.

Time off

Sales is often a challenging field to be in, considering how much time is spent on the phone with customers or traveling to tradeshows. One of the most meaningful ways to keep staff motivated might be rewarding high-performing individuals with extra PTO, as Gracey states. Not only will this gift refresh the employee, but a bonus is that they’ll come back to work with renewed focus and drive to gain more sales.

A team outing

Consider sponsoring team happy hours once certain milestones are achieved. As Gracey suggests, this is a great time for coworkers to relax, get to know each other and discuss the strategies behind their team’s recent win and what they could do better next time.

Public recognition

Sometimes, a little recognition is all your team needs to keep pursuing leads and winning new clients. BusinessCollective contributor Nanxi Liu suggests displaying sales numbers on TV monitors around the workplace. This will serve as a visual reminder for employees to encourage coworkers whose sales are lagging and to praise the coworkers whose sales are soaring.

Name a meeting room after them

Another way to honor a sales rep is to name a team room or common area after them, according to Gracey. You can also name a corporate contest after an employee who recently won over a high-profile client or closed a lucrative deal.

By establishing rewards for sales personnel, you’re well on your way to cultivating a positive sales environment that keeps employees enthused and energized so they can reach even more milestones.


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Published by Heritage Bank of Nevada
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Disclaimer - All content contained in this newsletter is for informational purposes only and should not be relied upon to make any financial, accounting, tax, legal or other related decisions. Each person must consider his or her objectives, risk tolerances and level of comfort when making financial decisions and should consult a competent professional advisor prior to making any such decisions. Any opinions expressed through the content in this newsletter are the opinions of the particular author only.
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