25 June 2020 | Sales Incentives
When sales representatives are not reaching the desired sales figures, it’s important to establish ways that will empower and motivate them to get results. Incentivizing sales representatives is an effective way to achieve sales goals.
Here are three top tips that will contribute to executing successful sales incentive programs.
Tip 1: Plan the Program Thoroughly
When creating an incentive program, it’s important to establish key goals, such as cross- and upselling products in new categories, reactivating dormant clients or creating very targeted sales approaches for specific products. Furthermore, define how bonus points will be earned, calculated, distributed and converted and what the payment methods and processes will be. Licensing a software service and having a dedicated portal for the program where all aspects can be centrally managed, is a fast and effective way to implement the program and reach results. A fully automated incentive program can drive interest and motivation on the one hand and save time and resources on the other.
Tip 2: Educate Sales Representatives
Providing an overview of the program and information that will educate sales representatives about the specific products and processes are key contributors to the success of the program. Educating sales representatives will also strengthen the way in which they identify with the brand whose products they are selling. Examples of educational material are pocket guides and information sheets. Having these types of educational material readily available and easily downloadable on a dedicated portal will ease the education process.
Tip 3: Communicate Effectively
Targeted marketing and communication are very important to promote the program, as well as motivate actions and nurture relationships. These types of communication can include registration confirmation, newsletters and program updates. Automated email communication eases processes, while enhancing the experience of sales representatives. It’s also important to offer individualized support and ensure that contacts are identified, available and responsive to communicate directly with sales representatives when needed.
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By taking your cashback programs to the next level, you can excel against competitors. This checklist contains important points that will guide you through the process, as well as helpful tips that can give you that edge.Download Checklist