Tag: sales incentives

Motivation and the Selling Professional

Motivation and the Selling ProfessionalThe motivation of salespeople has long been seen as a black/white or pass/fail proposition.  Meet or exceed sales quotas – earn commissions.  Don’t sell enough – face termination.  This research brief published by the Aberdeen Group makes a strong case for considering methods beyond take-home pay alone to motivate professional sellers.

The Aberdeen study entitled Sales Performance Management 2012: Rewards and Recognition as a Vital Compensation Component is based on a survey of 291 companies.  Accordingly, professional sellers are indeed principally motivated by their take-home pay, as 91% of survey respondents indicated.  However, over 60% cited internal recognition for positive performance as a strong second place motivator.

Team-based financial compensation and external recognition were both cited by 17% of respondents – far below the top two responses.  So, while sales professionals are often seen as a unique species in the organizational barnyard – they share in their need for holistic support just like any other employee.  Aberdeen’s study shows that companies which adopt this strategy achieve the best results.

From the study:

“… professional sellers need holistic support just like any other employee, with benefits and a support system providing measurable rewards and recognition …. Using rewards recognition to guide sellers’ behavior, provide them with job satisfaction, and promote better corporate sales results, remains a wise choice for practitioners looking to succeed as sales leaders.”

Best-in-Class companies are also more than twice as likely as other firms (Average and Laggard) to specifically provide non-cash offerings – in this case offerings managed by an external provider.  Some takeaways from the Aberdeen study-

  • Rewards and recognition programs have published plans that pre-define the specific selling opportunity
  • These systems range from points programs based on a range of behaviors – from selling accomplishments to training or wellness program participation and more
  • Merchandise or travel options are included in the rewards selection
  • Many are inclined to apply “found money” in the form of cash incentives to daily living expenses, whereas tangible rewards may better serve employees by providing recreational or leisure items or activities
  • Rewards and recognition programs provide these opportunities in a way that payroll-based incentives cannot

Your sales team will flourish under a truly effective, holistic motivation strategy – taking into account monetary compensation as well as a structured reward and recognition program.  To find out more about structuring a comprehensive reward and recognition or incentive program for your professional salespersons, contact us here or call us at 800.621.9745.

Incentive and Recognition Program ROI – Review Objectives and Indicators

“I” “I BELIEVE” “I BELIEVE THAT” “I BELIEVE THAT WE” “I BELIEVE THAT WE WILL KEEP OUR INCENTIVE/RECOGNITION PROGRAM FRESH BY REVISING GOALS AND OBJECTIVES THROUGHOUT THE LIFE OF THE PROGRAM.” Now that we have that out of the way, I find myself guilty of not pushing clients to adjust program goals and objectives as… Read more »

Incentive Program Design – Avoiding a Culture of Chaos

We spend a great deal of time emphasizing the positive aspects – and expected benefits – of properly designed and executed recognition or incentive programs.  There’s good reason for this, as we know firsthand how effective the right program can be – drawing from our own Rally Rewards program as well as creating and managing… Read more »

St Patrick’s Day and Sales Incentive Programs

Happy Saint Patrick’s Day!  As it turns out, you don’t need the Blarney Stone to make your sales incentive program successful – just a solid design and consistent, meaningful communications. According to legend, kissing the Blarney Stone imparts incredible persuasive skill – but because most of us are a great distance from the Blarney Castle… Read more »

Happy Birthday, Elvis: Recognition and the Memphis Experience

Elvis Aaron Presley was born on January 8, 1935 in Tupelo, MS.  He and his parents moved to Memphis in 1948 and following graduation from Humes High School in 1953, Elvis began his singing career with the legendary Sun Records label the next year.  Elvis’ musical influences were pop, country, gospel and the R&B he… Read more »

Program Engagement and the Endowed Progress Effect

One key factor in achieving early engagement in an employee recognition or sales incentive program is often overlooked – dedicating a small portion of your budget for enrollment or activation in the program.  This does not have to be a substantial monetary investment, but simply a little something to get the participant started while reinforcing… Read more »