10 Outstanding Sales Incentives to Keep Your Team Motivated
In the times of the evolved B2B business, having a sales team that is motivated and focused is an absolute necessity. A good-looking office, good pay, and friendly co-workers are not always enough. That is when you know it’s time to introduce extra sales incentives to cheer your team.
Build a system that truly appeals to them; build it the correct way so that you don’t lose a lot of resources but at the same time, keep your team encouraged and driven. A study proves that properly constructed incentive programs can increase performance by as much as 44%.
Motivation in these times is difficult, and if you are looking to modify or re-do your incentive system, you might want to take a cue or two from here.
1. Extra Money!
Yes, money makes for a great incentive. Your team is here, making a living out of what they do, and a little extra can never go wrong. You can set up a commission structure, where you pay reps a bonus for all the extra efforts, they put in. Or you can also gift an amount for reaching a specific goal – exceeding quota, closing more deals, etc.
This does not mean that only cash motivates them. Your team will appreciate other options if they are worth it; you can experiment and find out. Money, still, acts as an excellent boost to the willpower of reps, and if you set up your incentive program well, your sales numbers will thrive while you are just aiming to keep your reps motivated.
RELATED POST: 5 Common Sales Objections and How to Overcome Them
2. Paid Time off
Although it sounds expensive with regard to resources, it is one of the best incentives to offer your team. They work hours and hours at their desks, attend meetings after meetings to hit their quotas and help you achieve the desired goals. In the time of the pandemic, they often worked beyond office hours and seeped into personal time as well.
If your reps have been doing this, there is nothing better than giving them some paid time off to relax and refresh themselves. If not full days, you can reward them at least no one does half days depending on the kind of milestones they have achieved. Not only do they come back fresher, but are also able to maintain the work-family balance and prevent burnout.
RELATED POST: Six Best Ways to Manage Sales Pipeline Effectively
3. Courses and Training
No one is perfect, neither professionally nor personally. So is your team. They all have certain areas where they need professional guidance and try their best to take some time off for it. Maybe you can use this as an incentive to motivate your team.
Sales reps are always eager to learn. Get them seats to a business conference or event, or enroll them for a master workshop, with their consent, of course. If they are passionate about something that does not involve business, like cooking or art classes, Zumba, gym, you can pamper your reps with these as well. Trust me, you’ll only get love and a lot of respect in return!
4. Gift Cards
Have you met anyone who doesn’t like gifts? Well, because there is no one who does not like presents. Your reps have done very well, you are proud of them and need to show it, but you don’t know what they will like – Gift cards to the rescue.
These are the best and most common incentives you can offer. They are indirectly monetary, but your rep gets to buy anything of their choice. Channel the inner liberal boss and let them choose the gift card they want. No hassle of letting them down, and well, a gift of their choice – Perfect!
RELATED POST: 10 Must-Have Marketing Tools To Help You Grow in 2021
5. Subscription Boxes
Subscription boxes are basically packages of your favorite things, customized as per your taste. These are the best way of showing your love and appreciation to people, and in this case, your acknowledgment of the hard work the rep has put in.
Award your winning rep with a subscription to their service, like a box of good skincare products, rich coffee, a book library, gym memberships, wine club subscriptions, etc. Give them a free service of their favorite out-of-work activity and applaud them for all the hard work they have been investing in all this while. Bonus? This form of incentive is suitable for remote working as well.
RELATED POST: 8 Top Lessons B2B Businesses Learnt from the Pandemic
6. Activity-Based Rewards
Sitting at a desk for long hours every day can trouble your body. You need to go out once in a while to replenish the dread of working in an office, especially sales offices. Unwinding after a successful period of work is one of the best ways you can reward your team.
Get them activity-based incentives if they are the adventurous kind. Rock-climbing, bungee jumping, canaling, boating, escape rooms, diving, etc. all count as activities that are nothing less than a reward. If your star rep has wanderlust, what better way to support them than giving them a travel incentive?
RELATED POST: The Big Boom of B2B E-Commerce amidst the Pandemic
7. Promotion and Recognition
Climbing the corporate ladder is what everyone is here for. Even if they are your team, they are part of the rat race for a good promotion, so that they can retire peacefully.
The rep who bags the incentive has worked long hours and undoubtedly deserves to be recognized for the same. How you reward them is probably more important than the reward itself; up to 50% of sales reps prefer reward experiences that focus solely on being presented an award.
You can start an employee of the month system or specially acknowledge them at team meetings. If a rep is consistently working well, you must consider a promotion to keep them incentivized.
8. Tech Gadgets
Dope and expensive. That is what tech gadgets are. But they make for creative and fun incentives when you are looking for a serious and powerful boost to their morale. Popular tech gadgets are desired by everyone, especially when it comes to a prize. A tangible reminder of the hard work will constantly motivate them to work better.
You can explore smartwatches or music systems, speakers, mobile phones, and even play stations for your reps who will do anything to be proud owners of these products. Sure, these can be a bit over the top, but the driving force they provide to the team is worth it.
9. Prime Parking Spots
Have you ever started a day at work frustrated because all the good parking spots were taken up? Well, some of your team members also go through the same thing every single day. And since your incentives can be non-monetary, why not get practical with it?
If your reps have a hard time with parking – parking away and walking to the office or paying for car park every day or have to worry about other cars bumping into theirs because of a namesake parking spot, offer them a good, prime place to park their cars for a week or a month as a good job token. This incentive is very subjective to the location of your office but makes for a good one if conditions are favorable.
10. Employee’s Choice
The bottom line of providing incentives is to encourage your employees to work harder every day; to give them something to work for aside from their fixed salary. If they don’t find your incentive worthy, it will not work. In case you are running out of ideas and nothing seems to uplift them, then you might as well give them the choice to choose.
Ask your team to put in their ideas of incentives and think about it while working. This not only gives scope to motivate your entire team together but also tells them that you respect their preferences and tastes. Pre-select a package of items and ask your bonus-winner to choose one from it. Win-win.
How do you keep your sales team motivated?
Sales in the B2B market have undergone a lot of change and have had a profound impact on how your sales department works. Reps have also had to drastically shift their approaches and tactics, leading to great pressure on them to successfully fulfill the role they have been hired for.
That is why it is time to change the way you think about incentives as well. Personalize the rewards for every rep by understanding their hobbies and favorite activities. Companies using incentive programs reported a 79% success rate in achieving their established goals when the correct reward was offered. When you allow every rep to be focused on working with more to gain, you are on the right path to productivity.
Enjoyed reading this? Visit our blog to explore more such fun reads!