Article
Harness the power of your sales team with incentives that inspire. Creating an effective sales incentive structure is both “art” and “science.” It must be insightfully driven, creatively constructed, and tailored to fit specific organizational challenges or goals. A good incentive structure motivates performance and must tap into participants’ intrinsic motivation, leading to a stronger […]
Case Study
A leading national retail chain sought to boost laptop sales through a 21-day incentive program called “Break the Bank.” By leveraging game mechanics, the initiative created urgency, encouraged friendly competition, and motivated 2,961 retail sales associates. The program exceeded its goal by 145%, selling 1,160 laptops and generating over $346,840 in revenue. Dive into the details in our case study.
Article
Businesses often grapple with the question of how to infuse a renewed sense of energy and passion into their teams. If you’ve ever found yourself pondering this puzzle, especially within the context of sales, you’re not alone. In the workplace, the quest for sales motivation is ever-evolving. It’s not just about hitting targets but creating an environment […]
Article
Goals give us purpose and a path forward. They also affect the intensity of our actions and emotions, according to Locke and Gary Latham’s research. In business, having goals increases employee motivation and organizational commitment. One way to get the most out of the goals your team is working towards is to personalize them. When […]
Article
Competitiveness is hard-wired in most salespeople. If you’re able to add a compelling sales incentive structure that ties in relevant rewards, you’ll see that excitement grow exponentially. The challenge with sales motivation isn’t as simple as choosing a desired outcome (like increased calls or higher conversion percentages) and promising an award to the winner. To effectively motivate reps, there […]
Article
A SPIFF, also known as a Sales Performance Incentive Fund (sometimes written as SPIF or SPIV), represents a unique incentive program. In this setup, salespeople receive a discreet bonus for successfully closing a sale or scheduling a demo. Unlike conventional sales incentives, SPIFFs often come with a cash value. Currently, the prevalent method of delivering […]
Article
Do cash incentives work better than non-cash incentives? On the surface, it’s a relatively simple, straightforward question, but in truth, it’s one of the great debates in the field of sales compensation plans — and one that requires a remarkably complex and nuanced answer. We recently hosted a webinar on this cash vs. non-cash rewards topic featuring […]
Article
Successful sales contests include three critical elements: goal setting, emotional commitment, and focus. These elements will serve as the foundation for both short-term and long-term programs that will ultimately help you engage your sales reps to achieve your business objectives. Explore our guide to learn best practices to follow when designing your next incentive program. […]
Article
With incentives, it starts with: “Why would you do one in the first place?” We all like to win, we all like to feel appreciated for the effort we put forward, and we all like to be rewarded. It’s called the “dopamine effect” — the rush we get when something good happens to us. You might ask, […]
Article
SPIFFs can effectively drive immediate results. How do you make sure you’re getting what you need out of the SPIFFs you run? Let’s take a closer look at what goes into sales SPIFFs – and what you may need to think twice about. 1. Half of the money spent on sales rewards and incentives might be wasted […]