Category: Sales Incentives

Sales Incentive programs

Sales and the Performance Arena

June 9, 2016 by

sales and the performance arenaA recent study conducted by the Incentive Research Foundation sheds some interesting light on rewards favored by incentive program participants.  It also describes the relationship and importance of certain “awarding dynamics” to overall program success.

  • The physicality of the award presentation
  • The visibility or notoriety gained by recognition among coworkers
  • The inclusion of executive management – keeping them “in the loop”

While these will vary based upon program type and award rule, the consensus is that motivation requires more than plaques, merchandise, travel rewards, gift cards – and even sales commissions.  Successful recognition and incentive programs incorporate a balance of the above mentioned dynamics – especially when employed to improve sales performance.

Great salespeople possess certain attributes – all of which serve to make them effective and successful.  They are competitive, persistent, focused, extroverted, and can sometimes be seen as egotistical.  Harnessing the energy and passion that accompany these attributes will lead to greater performance gains and improved organizational success.

Where salespeople are concerned, the right balance between cash and non-cash rewards will generate more beneficial outcomes.  The effectiveness of sales commissions alone is less than that of holistic programs which include this cash/non-cash balance and a framework for structured recognition.  The advantages of this approach are many –

  • Acknowledgement of performance among peers and coworkers
  • Participants’ bragging rights about rewards earned and enjoyed
  • The reward serves as a reminder of the adversity overcome to achieve a goal or milestone
  • The human interaction between executives, management and associate
  • The opportunity to show where one stands among peers – be it a superstar, rising star or even a falling star

A comprehensive points-based sales incentive program provides the means to motivate, measure and reward achievers in the sales performance arena.   See how a QIC online points program can turbo charge your team – contact us today to schedule a demo.

Shh! It’s a Secret

May 6, 2016 by

This article describes a secret loyalty program for Chick-Fil-A where customers are invited to participate and gain access to unique reward items such as free food and special tours.  What makes this loyalty program special is not all Chick-Fil-A customers are invited to participate.  They are made to feel like they are gaining access to… Read more »

Keep Momentum Going

April 12, 2016 by

As you may have read from many of my colleagues, a well-designed program is the foundation to any Incentive Program’s success.  You have designed the perfect key performance indicators, put together a communication strategy, and even finished configuring your site – but what happens after the launch?  How do you maintain strong momentum? During the… Read more »

Make No Mistake – Valuable Program Advice

April 6, 2016 by

I’ll open today’s post with a confession. While I regularly read and digest materials from industry publications, I don’t necessarily do so in a timely fashion. So, I hope that you’ll excuse me as I reference an article that appeared in the MarketingProfs newsletter several months ago. This article, Seven Common Mistakes Marketers Make ,… Read more »

Effective Sales Training

April 1, 2016 by

I recently read an article entitled How Effective Was That Sales Training which described a strategy of replacing metrics-based sales training with a program of post-training communication between the sales team.  While I agree with the author’s opinion that the post-training communication between the sales team is important, I believe the metrics-based sales training can be… Read more »

Customer Loyalty Basics

February 23, 2016 by

In a recent business.com article entitled The Perks of Being Loyal:  How to Build a Customer Loyalty Program That Works, Lucinda Watrous explains some of the many benefits of building a customer loyalty program.  While the specific programs highlighted are consumer-facing by nature, the principles can be applied to B to B environments as well.… Read more »