If you are considering implementing a sales incentive, it needs to be designed so that each of your salespeople feel positioned to succeed. Most sales incentive programs only engage the perennial top 20%. The reality is that the highest potential for increasing sales comes from the other 80% of your sales team.
To increase engagement, an effective sales incentive should have:
- Tailored goals: Segment the audience and determine goals based on past performance.
- Self-selected goals: Allow the salesperson to choose their own goal from a select few offered.
- Vivid and frequent communications: Let them know how they are progressing.
- Manager buy-In: Involve managers to cheer on and encourage the sales team.
- Non-cash rewards: Cash gets absorbed into everyday expenses and is soon forgotten.
BI WORLDWIDE’s patented GoalQuest® methodology—with applied behavioural economics as its foundation—includes these five key properties to engage your entire sales team and deliver results from all levels of performers.
Case in point, BI WORLDWIDE Canada designed and executed a GoalQuest® for the Fleet Division of an automotive manufacturing company – the results were compelling. The client’s goals were exceeded with a return on investment of 199% and, with a year-over-year sales increase of 174%, the greatest improvement came from historically low and mid-low performers. This reinforces the fact that, with the right sales incentive design, engaging your full spectrum of performers—not just the top 20%—will result in a significant incremental sales lift.
Contact us to help develop a sales incentive program that fits your unique needs and motivates your sales team.
