As a business owner, you should recognize the huge role that your sales team plays in the company. Salespeople serve as the frontliners of your company. They are the ones who drive revenue to the company. For this reason, you need to make sure that they are motivated and engaged with the company. To keep their enthusiasm and motivation burning, you need to offer them sales incentives. There are many reasons you need to do so. With sales incentives, they will feel valued and important to the company.
Unfortunately, management has failed to stoke the fire of their salespeople. While there are companies that have a sales incentive program in place, there are others that do not have one at all. Implementing a sales incentive program does not have to be overwhelming and expensive. Promotional products like clocks, calendars & planners with logo offer an affordable way of incentivizing your sales team. Here are some tips for ensuring a successful sales incentive program using imprinted clocks, calendars & planners with logo.
THE 80-20 RULE
According to this rule, 20 percent of the sales people make 80 percent of the sales and profits. Most of the time, sales incentives cater to the entire sales force or VAR channel. The danger in such kind of program is that the glove that fits everyone in the end fits no one. As a business owner, you already know that the top twenty percent of your sales team are already motivated. So when making an incentive program, you need to motivate the next twenty percent to sell imprinted clocks. By doing so, you are likely to double the sales of clocks with logo in a more cost efficient manner.
One reason for the failure of sales incentives programs is that they are too complicated with their recording and reporting system and in how the rewards are won. Often, programs first require salespeople to sell calendars with logo before they get the incentive. There are usually a lot of conditions before the reward can be gained. As a result, the sales team gets confused and unmotivated to offer imprinted calendars. Incentive programs should be simple and attainable.
Some incentive programs fail because the salespeople did not understand the benefits until they have made their first sale of imprinted planners. You cannot sell an incentive program without first explaining the details to your sales team. They are often overlooked because the reps did not understand the value and/or unsure of how to sell planners with logo.
The adage, “Timing is everything” can be particularly helpful to someone who is designing a sales incentive program. When it comes to incentivizing, the better the preparation, the more likely the sale of journals with logo. Real incentive programs are something to be anticipated. The right amount of promotion ensures greater acceptance and interest that will often result to getting a sale of imprinted journals.
The rewards for closing a sale of imprinted notebooks can demotivate your salesforce if the waiting time is too long. For your incentive program to be successful, you need to reward immediately. The faster the reward is delivered, the greater will be the enthusiasm to offer notebooks with logo.
Whether there is an incentive program or not, recognition among peers remains as the biggest motivator. Recognition for being able to sell notepads with logo can help motivate the critical second twenty percent on the sale achievement ladder. Aside from giving them imprinted notepads, shaking the hand of the president in front of the company can help galvanize the need to overachieve.
STRUCTURE DESIGN CHOICES FOR YOUR TEAM
When designing incentive programs, create them in such a way that it will balance multiple choices. Here is an example.
- Strong vs weak incentives. Weak incentives provide small rewards as a portion of potential earnings and can discourage high performance. Strong incentives offering large rewards are effective when desired outcomes are simple, well-defined, and closely tied to measurable performance that reps can control.
- Group, individual, or relative incentives. Group or team based pay are best when sales reps are interdependent. However, if they are dependent on each other, such incentives can cause weaker reps to rely on star performers. By providing balance between individual and team work, incentives for offering imprinted pens can be weighted in different combinations depending on the situation. Relative performance pay can be effective if the marketability of pens with logo varies in ways that salespeople cannot control.
KNOW YOUR EMPLOYEES AND WHAT MOTIVATES THEM
Employees are motivated in different ways so it pays to have knowledge of what will motivate them. For instance, some are motivated by money, others career advancement and skill acquisition. Other employees are okay with receiving merchandise like screen cleaners with logo. Understanding that merchandise like imprinted screen cleaners may be effective for some people but not for all. Knowing what your employees tick is your recipe for success.
SET FAIR AND ACCURATE QUOTAS
One of the first things that reps ask is their quotas. When setting an incentive program, make sure that you establish an achievable quota for picture frames with logo or else no one has a chance to win. When setting quotas, the reward for selling imprinted picture frames should be based on results and not on the quality of the area where they sell.The success of your sales people lies on how well you offer them incentives for selling imprinted wallets. Other members of your team will be more motivated if they know that they can look forward to receiving wallets with logo for their good job.