The answer is ‘NO.’ Although speeches are a great way to inspire and motivate members of your sales team, it’s not enough to get them going above and beyond. What you need are incentives. You need to provide some sort of reward for them to continue performing exceptionally. It’s simple classical conditioning. Reward sales members who reach company goals and provide even grander rewards for those who continue to go above organizational benchmarks. This will surely boost performance and provide stellar results.
But, what type of incentives will get you the results? Remember, not every reward will prove to be effective. So let’s take a look at some incentives that have proven their success:
1. Exclusive Prizes: This is the ‘grand’ prize, like a car or a trip to some tropical paradise. Obviously the grandeur of the prizes depend on your company’s budget, but if you can afford to spend, why not purchase something as irresistible as a vacation package, which is surely going to incite anyone to win! Remember, these are categorized as luxurious items that your team may want but by no means purchase, so it becomes an exclusive gift. This is something that should be left as the ultimate prize.
2. Standard Gifts: If budget is a constraining factor, there are tons of affordable luxury gifts or non-tangible prizes (discuss later) that may invoke a similar drive. For example, a new phone, TV or bike. If you want to provide rewards continually throughout the year to boost morale, without handing out tons of gifts, why not invest in an incentive program? Your team gains points for their performance and after a collection of points can win a prize. Payback Incentives is a great program that provides a broad range of gift cards through a points-based system, and is extremely affordable.
3. Non-tangible Prizes: If budget matters, and in fact, when there isn’t much of it, why not consider incentives that cost you practically nothing? For example, you can incentivize teams with an extra week of vacation. How about providing a new workstation or office? Maybe, you could take away extra work or responsibilities for a month? Anything to make their life easier and better may be enough to drive them to their potential.
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