At Loyalty Works we focus on targeted reward programmes that deliver sales and profit growth for businesses. After all, keeping your sales team and sales channels engaged and motivated is vital to driving sales and productivity with your business.
What are sales incentives?
A sales incentive is a reward that employers offer to their sales professionals for meeting their specific targets. Sales incentives can be physical rewards, experience-based rewards or any other type of reward geared towards your employee's interests.
Why do businesses use sales incentives?
A lot of companies use sales incentives as a regular reward program to motivate sales professionals meet/excel their sales objectives. This rewards individuals for their hard work and also benefits the business by increasing overall sales.
What sales incentive scheme is right for your team?
Whether you're looking for a points-based reward programme to drive sales growth or a technical incentive to motivate your team during challenging periods, our incentive experts will be there to manage the entire sales incentive process. We provide insights, strategy, design, that will help us build and execute your programme. We can also manage your scheme and report on its success regularly.
Advantages of using sales incentives
Implementing a sales incentive plan comes with several key advantages and is an excellent way to motivate your employees to hit specific goals. Below are some benefits of using sales incentives.
Boost team collaboration: Providing incentives for your team, rather than individual rewards, leads to improved effort within the team. Not only will they recognise each other's contributions and find creative ways to solve any problems, but also create strategies to support your company's sales goals.
Increased team productivity: Having a productive team is vital to reaching and exceeding business objectives. A reward system can be highly effective in increasing productivity. With sales incentives in place, your employees will have the opportunity to collaborate whilst they improve how they perform in their jobs.
Higher levels of engagement: Motivating your employees through sales incentives can increase your team's engagement to their duties. For example, if you set team objectives which result in rewards for the whole team, it can boost engagement within the team.
Increased team morale: When your team increase their productivity and feel recognised for their hard work, they will have more of a positive attitude in the workplace.
Sales incentive ideas for your workplace
There are various sales incentive schemes you can have in your workplace. Below are some examples:
Entertainment: An entertainment sales incentive can be an excellent idea for your employees and gives your team a chance to get outside doing something they will enjoy together. This is great for team building and can include activities such as outdoor excursions and theme parks.
Development awards: Development learning is important as a motivator. For example, offering your employees the chance to participate in a new course or development seminar will allow them to develop new skills to help them excel in their job role.
Monetary incentives: An excellent way to incorporate monetary rewards is to give an equal reward to the whole team, so all employees receive recognition. A few monetary incentives are gift cards, bonus checks, and cash rewards.
So, whether you're looking for a technical incentive to motivate your team or a points-based reward programme, our team at Loyalty Works can help you. Contact us today if you're looking for answers or want to discuss our sales incentive services with us, and we'll get back to you as soon as we can.