Well managed well throughout incentive programs play an important part in achieving and exceeding sales targets. If you incentives are structured properly they can result in a high level of motivation.
Here are a few basic principles I recommend to my clients.
- Avoid incentives where individual salespeople are competing directly with each other to win a single prize. This often causes animosity. It is much better to ensure that every person has a chance to achieve an incentive by reaching a certain level of sales.
2. Incentives should be introduced with some pizzazz and excitement to help generate an air of urgency. Incentives are designed to get salespeople excited and motivated so the way they are presented needs to reflect this.
3. Incentives should not be long-term – usually a month and, under certain circumstances, incentives could be offered for one week only. Don’t’ make the mistake of running incentive programmes more than three months.
The fact is It is hard to sustain interest in incentive programs if they are run the over too long a period of time. Salespeople tend to focus on incentives only when they are close to achieving them. A year-long incentive, for example, will only really generate real interest among salespeople about three months from the end of the year (by which time it’s too late to impact on the result) – for the rest of the year, the incentive seems too far away.
Have a great week selling your stuff.
Mike
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