Sales incentive program gives competitive advantage

September 1st, 2009 in category: Industry news

Competitive advantageWith every sale important in a tough market, sales managers need to find innovative and cost effective ways to get the best performance from their sales teams and not just the high performers.  The biggest increase in sales will come from getting an improvement in the performance of the middle majority.

Sales managers spend a lot of time searching for creative and cost effective ways to build a high performing “whole” team and in administering and fulfilling the sales incentives.   A points based incentive program will help you to increase your sales revenue by motivating your salespeople to go “above and beyond” and also increase your conversion rates.

An effective program will be designed to not only drive high performers to excel, but will also lift performance of the majority of your sales team. You really need a great sales incentive that will win over the hearts and souls of all members of your team.

Typically business managers look to sales teams to:
·    Meet and exceed targets
·    Increase revenue generation for the company
·    Better conversion rates and opportunities from marketing spend
The big question is “How do you do it?”

Whether you have a customer service call centre based team or sales staff on the road, a points based program is an innovative way to motivate all members of your sales team when the old “carrot and stick” no longer works.

By rewarding more staff more often for smaller positive behaviours more frequently a points program can help you deliver a high performing sales team that consistently “hit your targets”.   Gone are the frustrating days for many sales staff who are not motivated to do their best because the same old best few outstanding achievers were the only people rewarded.

Online points programs will be effective in:
·    Motivating sales people and or your distribution network to go “above and beyond”
·    Align your employees behaviour to your company vision and strategy
·    Improve individual performance and encourage healthy competition amongst individuals and between teams
·    Improve your company bottom line by getting the most from your staff through reward and engagement
Key points to consider when implementing a points program are:
1.    To implement a program that will not only meet your shorter-term sales incentives objectives but also build long-term brand loyalty.
2.    For 90% of points earned by participants to be redeemed.  It is important that participants are actively engaged in the program and that they are able to redeem rewards a number of times per year, ideally once per quarter.
3.    Any program must include a wide range of exciting rewards that are small enough to obtain along the way with the ability to accrue points for larger luxury items as well as high-level awards for outstanding performers.

For more information about Pinpoint sales & channel incentive programs, employee recognition & rewards or customer loyalty programs

call 02 9352 3888or email us

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