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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 […]
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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 […]
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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 […]
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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. […]
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What are rebates used for? Businesses have long used rebates as their go-to strategy to try to influence sales results within the channel ecosystem. Rebates can certainly be a good tool to gather purchase information, capture demographic data, drive product awareness, promote trials, and move inventory. What is an example of a rebate? An example […]
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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, […]