4 Rewards and Incentives To Motivate Your Sales Reps
Being a sales person is usually the hardest position in the company. They are what keeps the company thriving, and bring in the financials to support the rest of the team. It’s easy to coast on the highs, but during the low sales months, it can be hard to stay motivated. To keep your sales team happy year round, try some of these rewards and incentives to keep them on top of their game.
1.Spot Bonuses These are great for your low periods when you need to get your team going. Offer hard cash for x amount of contracts or sales processed by the end of the day. Bringing in spot bonuses intermittently will keep your sales force encouraged and on their toes.
2.Periodic Cash Bonuses
Periodic bonuses can be quarterly, semi-annually, annually, or at whatever interval you choose. The goal of them having a fixed date is so that the sales team can have measurable goals by a certain time. Being aware of a quota will help your team keep track of how many sales they have completed and how much more they need to reach whatever cash bonus was pre-determined.
3.Company TripsIf you’re not a fan of using money as a motivator, a company trip may be a great tactic to try. While it still carries a dollar value, your team is receiving so much more and experiencing bonding time together. Establish a qualifying period and a set number of sales. Whoever meets or exceeds the number of sales or contracts in that period has their all inclusive trip paid for by the company. If they only meet half the quota, you could choose to cover half the trip in order to maintain motivation.
4.Encourage Culture Across The BoardMany companies are placing emphasis on workplace culture, which is great in making sure your employees are happy, but you should be harnessing the opportunity to motivate your staff. Don’t just provide culture perks and events for the sales team, encourage your C-Suite and other high ranking admins to partake as well and build personal relations with their sales reps. Having personal rapport with their higher-ups will encourage them to perform better than if they rarely see the CEO’s face, or know he doesn’t know their name.
Having a great motivation system in place for your sales reps is necessary for a prosperous company. It can be anything from small, personal gestures, to tangible items and trips, or just cold hard cash. Money and cash rewards are often the most preferred motivator by both sales employees and managers and team leaders, and ExpenseOnDemand makes it even easier by allowing you to keep track of all bonuses and expenses quickly and directly through the app.