Hitting sales goals is one of the most important things a company can do. Not only can accomplishing these objectives drive new levels of success for your organization, but it can also motivate your sales team to keep that momentum going.
But reaching sales team goals isn’t always easy, and that’s because not every company starts with a measurable or realistic strategy in place. Once you set expectations for your sales team and they know what you expect from them, it’s time to let them know what they can expect from you.
Rewarding your sales team for meeting their goals will encourage your employees to rally behind each other and succeed.
When it comes to motivating your sales team, they need more than a pat on the back to stay focused on hitting their target. Thirty-four percent of American employees claim to be actively “engaged” in their jobs. The other 66% needs you to keep them engaged – and you can by offering them unique employee incentives.
Incentives are one of the best ways to maintain consistent effort and retain talent. If you want to motivate your sales team to drive performance, it’s time to start thinking beyond traditional monetary rewards.
We’ve created a list to inspire the way you approach sales team incentives and in turn, inspire your team to keep closing deals.
1. Gift Cards
Gift cards are one of the most common non-cash incentives. According to a recent study of 1,000 U.S. consumers from the Retail Gift Card Association, 61% of respondents have received a gift card as a reward or incentive, and 91% liked it.
And while they are still technically monetary incentives, they leave room for personalization. Allowing your team members to select gift cards from a list of popular brands puts the choice in their hands. Plus, you can offer them instant rewards that they can redeem on any device at any time. By compensating good work and extra effort immediately, you can significantly boost workplace morale and enhance your company’s culture at the same time.
2. Flexible Time
More often than not, your sales team works around the clock to close a deal and bring in revenue. Flexible time off is a great way to reward them for all the effort they put in after hours. Work-life balance is an important factor when considering a career, especially for the newest generation of workers. Fifty-nine percent of millennials report feeling worried about finding a position that will support the work-life balance they’ve envisioned for themselves.
Whether you offer a half-day on Friday, a chance to come in at noon on Monday, or the ability to work from home a few days a week, your employees will feel motivated to keep showing up and performing their best.
3. Experiential Incentives
Providing memorable experiences for your sales team is another way to inspire their productivity and increase your company’s profitability. The top “wow” incentives amongst millennial employees are adventure and wellness activities like yoga, hiking, and extreme sports.
Show your sales team you honor a healthy work-life balance by rewarding them with a gym membership. Whether it’s the YMCA down the road or a subscription service to the trendy boutique fitness studio in town, you’re encouraging your sales team to remain active. Cooking classes, golf lessons, or a spa day are a few other options that fall under the category of experiential incentives your employees will love.
Ultimately, your rewards should match your employees’ interests. Personalize their prize and make their experience a remarkable one.
4. Practical Gifts
Practical gifts, especially in the tech world, can help your sales team manage their accounts more efficiently and are great items to introduce into your rewards program. Your employees will appreciate popular gadgets like tablets and smartwatches, especially if you let them customize the new toy’s color or settings.
You can also offer your sales team the opportunity to attend classes, seminars, or industry events. Showing them that you are willing to invest time and money in their future will motivate them to become even better at their craft of closing the deal.
Ultimately, inspiring motivation is about finding what makes your employees go the extra mile. Check out our employee rewards solutions to learn more about sales team incentives and how we can help you provide rewards that make a difference.