Does your sales incentive programs drive engagement by boosting the motivation of sales people assigned to work for the sales goals?
Do they have stronger commitments and the desire to achieve the goals? Is your sales incentive program working?
The dangling of the proverbial carrot is an ancient art that is commonly understood to be at the heart of human behavior, psychology, motivation, and, in particular, business. However sales incentive programs fail due to various reasons. Few of them being:
- Elements of the technique are executed improperly
- The monetary values of incentives are often not the critical factor in motivating salespeople to succeed.
- Not all salespeople are motivated the same way.
- Innate complexities either in their recording and reporting systems or in how rewards are won.
Bonuses, commissions, contests and other sales incentives can do more harm to your organization than good if you don’t administer them correctly.
Marketers Touchpoint can help you devise an effective sales incentive plan through the following steps:
- Sales incentive program history review
- Determining the purpose & objective of the incentive plan, budget
- Structuring the incentive program
- Developing rewards and recognition programs
- Effective communication & training
- Tracking sales performance
- Analysis, monitoring effectiveness of incentive programs&providing feedback
An effective sales incentive program should not only meet your company needs but also needs of the participants for recognition, appreciation and a sense of working towards a common objective.
To know more, do call us at +91-8080015500 or Contact Us. We are here to help.