9 Ways to Incentivise Your Sales Team
November 11, 2020 Comment off
Even when things are going really well, there will still be times when your team needs an extra bit of motivation.
So, how can you keep your team motivated?
Sales incentives are designed to improve employee engagement and encourage results. Especially during these hard times, an added bit of motivation can be a nice boost for your business. But an incentive programme needs to really appeal to your sales team in order for it to work. Whether it’s cash or a gift, here are 9 sales incentives to give you an idea of how to motivate your team.
1. Bonus money
Money talks. Especially for salespeople who are usually driven by earnings.
The simplest, but arguably the most effective incentive of all, is a set amount of money as a bonus for good work. For this incentive to work, you need to set up a clear commission structure or use cash bonuses when salespeople achieve a specific goal.
While it’s the simplest incentive, don’t think it’s the only thing that can motivate your team. A study by the Incentive Research Foundation found that up to 85% of people would choose a non-cash reward if they really liked the other option.
Giving away product prizes is a fun way to motivate your team. Examples include:
- Desirable tech, such as a new smartwatch or speaker
- Home appliances, such as a coffee maker, TV or docking station
- Hobby-based prizes, such as a new bike, gaming system or art kit
Just remember, it isn’t a one-size-fits-all incentive and your team needs to actually want the prize. You could offer a choice to make sure the prize appeals to each member of the team.
3. Professional development
It might not be the most glitzy of options, but personal and professional development – courses and training – can be a strong motivator for those who want to improve themselves. Professional development could include:
- Expert sales training from a coach
- Expensive tickets to an industry event
- Enrolled in a relevant course
Professional development arguably benefits the business more, but personal development shouldn’t be ignored. Personal development could include:
- Art classes
- Fitness memberships
- Access to online courses
- Cooking classes
- Writing workshops
4. Days/nights out
Fun activities are a fun way to reward your team. It could be tickets to a game or concert, or even a romantic dinner for them and their partner. These work as the incentive should be something your salesperson would love to do but either can’t get a ticket or booking, or can’t afford it.
In these times, you can get creative with options such as virtual wine tasting nights or home food delivery.
Your two options are relaxation or adventure. If your team would rather relax, try:
- A relaxing spa trip
- Yoga classes
- A round of golf
If your team wants adventure, try:
- Bungee jumping
- Escape rooms
- Go karting
- Rock climbing
- Wild camping
6. Subscription boxes
The subscription economy is growing exponentially year on year and has taken over the way we all shop and consume content. The best thing about them is there is something for everyone. You can get subscription boxes for pretty much anything, including:
- Skincare and beauty products
- Monthly coffee
- Cycling nutrition
- Shaving products for men
- Personalised wine
- Arts and crafts
7. Additional paid time off
Additional time off is a great incentive for those who could really use some more time away from work. This incentive is especially relevant if you want to encourage a better work-life balance.
Encourage your team to use this incentive as a chance to spend more quality time with their family and doing things they usually don’t have the chance to do.
8. Company recognition
Although most employees would favour a monetary incentive, recognition is an often-overlooked motivator. Employee of the month is a popular reward system, or salesperson of the week. However, this reward should be coupled with something a bit more substantial, such as lunch with your CEO.
9. Let your team decide
If you want to leave your incentive plan as an open book, within reason, then you could let your team choose their incentive. This is a good option if you have a wide range of specific tastes and hobbies within the team. Letting your team choose, within a certain budget, gives them the freedom to do what they really want.
The main thing is to create a rewards system that your employees actually want. If they desire it, they’ll work harder to get it. If you don’t get it right the first time and you don’t think your incentive programme is having the desired impact, try another option. It helps if you get to know your sales team on a more personal level so you can offer more appealing incentives to them.