Your sales team is the heart of your business and, if they are not motivated, your business is going to suffer. Choosing the right rewards to motivate your sales team can be a challenge for any business owner. However, if you do choose the right one, you will notice the difference immediately. The following are some ideas for an easy reward system that will get everyone on your sales team motivated to be the top seller:
Monetary Incentives
Beyond the regular commission, offering your sales team monetary incentives may be a turning point in how many sales your team generates. The fact is that money is often the motivator for many people. As long as they know they will earn more money, they will work harder.
You will, however, need to be sure that the monetary incentive is enough to motivate your employees without hurting your business. This is especially important in the beginning, as you may not have a lot of business capital or have a lot of business credit to work with. However, if this is what is holding you back, you may wish to look into securing a business credit line to increase your working business capital.
Paid Time Off
Many sales people often have a preference of earning paid time off for a job well done. By offering your sales team the chance to earn an extra day off, you are giving them the chance to spend more time with their family which is a great motivator for most people.
This reward may not be feasible for your company if your sales team consists of just one or two members. However, if you have a large sales force, it can be one that can easily fit in with your employee schedule without putting too much extra work on your other employees.
Tangible Recognition
While a pat on the back is often rewarding for a member of your sales team, the majority of people wish for some tangible recognition. A year-end incentive of a week’s vacation for two to an exotic location may not be financially possible for your company, but a two-day stay at a spa may go over just as well for your sales team. The idea is to provide them with something they want, whether it is a paid vacation or a company car to use.
The best way to come up with a reward system for your sales team is to ask them what appeals to them most. Getting their input will allow you to create one that will motivate them to do well and may just help you to take your company to the next level.