Increasing Sales: Could An Incentive Scheme Work?
Over a long campaign, there can be a tendency for fatigue to creep into your sales team. Make sure they're suitably motivated and raring to sell
Increasing your company sales, doesn’t just have to be about increasing your sales team and their working hours. A sales incentives scheme can help give your salespeople the right tools, mindset, and work ethic they need to deliver more sales for you.
What you need to boost your sales team’s sales
When thinking about ways to increase your company’s sales, some business managers might consider adjusting your sales team numbers – increasing the size of the workforce and the hours worked – is the right solution. Others might think training to improve sales technique, broaden skillsets, boost knowledge and, consequently, confidence, is more important.
But while doing all this can certainly help, there are other factors that can make a difference and increase your sales too. This is about improving the work ethic and mindset of each salesperson and their attitude to their job. This can create a sales team that is:
- Motivated to work harder
- Driven and has ambition
- Encouraged to progress and improve
- Compelled to achieve more for your business
And this is where sales incentives can help.
Explaining how sales incentive schemes work
A sales incentives scheme can be set up to run alongside a sales campaign, long or short. It can be used to fit with the launch of a product or tie in with a busy sales period, such as the run up to Christmas. The process of the scheme involves sales targets being set throughout the sales period, which each salesperson has to aim to achieve, culminating with a final target at the end of the incentives programme.
Rewards, which can be presented to employees in front of your sales team, are given to those people who achieve their targets and have the most sales at the end of the campaign. They can also be given for other achievements, such as the first person to reach a specific target or the most sales of a particular product. Targets and rewards can also be daily, weekly or monthly, depending on the length of the sales incentive. League tables can be set up to add a competitive element to a scheme too.
Rather than just resorting to giving out cash prizes to high performers, incentives scheme rewards are more personal, thoughtful, and can be experienced. This ranges from food hampers and sports equipment, like golf clubs to technology gadgets, like smart phones to theatre tickets, city breaks and weekends away, depending on the key interests of your salespeople.
Incentives to hit targets
The targets in an incentives programme can give your salespeople set levels of sales that they should aim to achieve throughout a tough campaign. Working hard to hit these targets and win rewards can help them raise their overall level of performance. It can also help maintain momentum and the pace of sales they attempt and actually achieve.
Added to this, the range of desirable rewards on offer can help give individuals more focus and a bigger push to continuously hit targets. This can be especially helpful on those difficult sales days when, for whatever reason, they might feel fed up, off their game, or overwhelmed from the pressure that a busy sales campaign can bring.
Incentives to work harder
The excitement of having a sales campaign with an incentives reward up for grabs, particularly at the end, can encourage your salespeople to work hard to win the reward on offer. In turn, this can inject some excitement into their job, affecting their attitude to their work each day and how they approach it.
A salesperson who’s rewarded for their hard work is also more likely to feel appreciated and valued, encouraging them to work harder. The buzz of being rewarded can then motivate them to keep up that hard work, whether for the next busy sales period, product launch, or tough campaign. They can also feel good knowing they will have the chance to be recognised and feel so valued again.
Incentives to achieve more for you
When a sales person wins a reward it draws attention to their hard work and achievements – especially when the reward is presented in front of their sales team. Knowing that their efforts are being recognised by their colleagues and their managers can give them that drive to raise their game and achieve more, like hit even higher targets.
The feelings of appreciation and value that winning a reward can bring a salesperson, especially after a tough, fast-paced sales campaign, can also encourage your salespeople to boost their loyalty. This is loyalty towards you and your business. As a result, they can have that all-important desire to do more. Not just for themselves, but also for your wider business, from building up leads to hitting faster sales times to progressing in their role with you.
A sales team that’s driven by the need to hit targets, work harder, and achieve more for you, can give you a team that’s well equipped to boost your sales significantly. With a good sales incentives scheme, you can achieve the higher sales you desire. But you can also develop a team of top salespeople who are more than happy to deliver a consistently top performance and do their best for your business.
Heath Reidy is a writer for Corporate Rewards