For many companies, Incentive program tends to fall into various and small categories. Incentive recognized by day by day accomplishment just like goal achievement, project accomplishment, long term achievement, milestone anniversary and a good performance. But, in many big industries, incentive programs exist in only sales department. Where, manager and superiors motivate them to exceed the sales goals.
That’s totally fine and of course. But, take a moment to recognize is that works or not? Have you marked any improvements? Does incentive rewarded more than an investment?
In my opinion, compensating sales people have effectively been one of the biggest challenges for growing business. When you know, you need an incentive plan that encourages your sales force to exceed their targets. But the issue is, where would you find the best way to compensate them?
Do you know how incentive exactly works?
Topspin Marketing advised companies to opt slow and steady approach. We believe that Sales Incentive Programs are living, breathing and needed to raise the company’s goals and sales. Companies can keep the sales force on the track, they just need the right amount of motivation to crack the goals and raise sales.
A typical Sales Incentive Programs have enormous impact on the growth of business. Executing well designed sales incentive plan can help a company to create a high performance sales culture where individual goals can be achieved.
It builds a reputation, for recognizing and rewarding good performance with accuracy and helps companies to attract new sales talents and top brains.
Some companies pay their sales teams a straight salary. A straight salary guarantees that valued staff member would be great incentive in-spite a company facing the economic downturn condition.
With the high risk, companies still sales incentive programs are necessary to motivate their current sales team and attract expert brains and ideal sales people.