A robust and high-performing sales team is the heartbeat of a modern company, bringing in enthusiasm, energy, and revenue. So how do you motivate these critical members of your team? The “tried and true” answer is incentives like commissions and cash bonuses. 40% of American companies rely on cash bonuses for hitting a quota or some form of compensation package that’s intended to attract top performers, but the reality is these tried and true efforts are no longer working.
The turnover rate and state of employee motivation for salespeople is the most challenging of any industry (3X higher than all others). The reasons range from disengagement to confusion around compensation structures and lack of recognition for their work. The status quo is failing, but what’s the way forward? To properly motivate and retain your top sales people, you’ll need to create sales incentive programs that build real excitement and motivation towards your increasing revenue goals.
In this guide, we’ll be exploring how through personalized experiences, you can make positive changes to your sales incentive programs that will motivate your sales team and emphasize a culture of celebration and big wins. We’ll provide a blueprint for setting up a successful SPIFF program and design budget planning around your needs. You’ll learn best practices to help generate sales incentive program ideas that are inclusive and shareable in a way that fosters healthy competition and teamwork. And you’ll discover a modern way of thinking about the President’s Club that’s flexible enough to work with any size company and keeps reps motivated.
You'll walk away with the knowledge you need to plan an effective sales incentives program that appeals to all your top sales reps and positively impacts motivation and retention.
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