There are plenty of sales incentive programs out there. You might have even tried one, only to be disappointed by lackluster results. Suppose you're looking for a program that works for your team and can increase performance. In that case, we've got just the thing: a guide to spark inspiration for creating an effective sales incentive program. 

The Basics:

Do Your Research 

Before creating your program, you should do internal research about your team. Learn about their pain points, sources of motivation, and what helps them work best. You'll also want to track metrics and determine how much money is available in the budget for incentives. Start this process by talking with people who have already created successful programs at their companies. If there aren't any recent examples at yours yet (or if none exist), reach out to other businesses similar in size or industry to yours and see if they'd be willing to share their experiences with creating an effective incentive plan. 

Develop Goals

After researching and establishing a budget, define your goals. According to an article by Salesforce titled "Why Incentive Programs Work," the most successful companies have found that incentives help build trust between management and employees, increase motivation levels, improve productivity across departments, and reduce turnover rates among top performers who leave for other opportunities. What are you hoping to achieve with the program? Is it just about giving employees something fun to do during the year, or do you want them focused on specific metrics like sales volume or customer satisfaction? Once you create your goals, it's time to get started! 

Create a Timeline

Next up, decide how long each round lasts. Some companies choose just one month, while others opt for more extended periods, like six months or even an entire year. You'll want to consider which quarters are busier than others and keep your goals in mind. Here are a few examples:

• Monthly sales incentives: Motivate sales reps to achieve short-term goals, such as meeting monthly quotas or boosting sales of a specific product.
• Quarterly sales incentives: Focus on achieving sales targets over a three-month period, which can help sales teams maintain momentum and stay focused on their goals.
• Half-yearly sales incentives: Encourage sales reps to meet their sales targets within six months, providing a balance between short-term and long-term goals.
• Annual sales incentives: Focus on achieving sales targets over a year, allowing sales reps to plan and strategize for long-term success.
• Sales contests: Run for a specific duration, such as a few weeks or months, and typically involve competition among sales reps or teams to achieve specific targets or milestones. 

Choosing the Right Incentives:

Individual Incentives

Incentives should be relevant to your sales rep and align with the company's goals. Still, they also need to be attainable, timely, and meaningful. For example, a gift card for a local restaurant or coffee shop is not likely to motivate someone who doesn't spend much time outside of the office. If you're looking for something more unique and personal than cash or gift cards, consider offering a cobranded gift card or experiences like concert tickets and sporting events instead!

Team-based Incentives

Create team-based rewards that encourage collaboration and teamwork. This could include team outings, dinners, or team-building activities. Another option is creating contests where teams compete against one another for prizes such as rewards or gift cards. This kind of strategy works well if you're looking for ways to encourage competition within your organization without having any negative consequences. If you're unsure what incentives work best for your team, ask them directly! Ask them what they would value most as an incentive if they were performing well. You may be surprised by how much people love experiences over material goods.

Bonus: If you want to leave an extra memorable impression, allow sales reps to choose a charity they're passionate about and donate a portion of their sales to an organization at different times of the year. This incentivizes sales and fosters a sense of social responsibility for the company. 

How to Make Your Program Unique:

Gamification

Turn your sales incentive program into a fun, engaging game with leaderboards, badges, and rewards for achieving specific milestones. This fosters a sense of friendly competition and motivates sales reps to reach their targets using a theme. You can create leaderboards listing all participants and their scores from highest to lowest. You can also use badges as rewards for specific milestones achieved during the month-long period when each person's goal must be met. The badges themselves could be something as simple as an emoji or icon showing someone has completed their goal successfully; they don't have to cost any money!

Wellness Benefits 

Many companies have found that these types of incentives can be an effective way to increase employee satisfaction, productivity, and loyalty. Wellness-related rewards such as gym memberships, fitness classes, or meditation sessions encourage a healthy work-life balance. They also offer opportunities for stress relief, and reducing stress is one of the best ways to improve overall health and well-being in the workplace. This incentive type uniquely benefits those naturally more motivated to keep progressing in the right direction.

Skill Development Opportunities

A well-designed sales program will help your sales team stay relevant in a competitive market by providing opportunities for networking and learning new skills. Reward high-performing sales reps with opportunities to further their professional development by attending conferences, workshops, or obtaining certifications. Fostering this sense of accomplishment builds confidence in your employees' abilities. Maintaining a positive work environment where everyone feels they are progressing towards their goals (and getting paid well while doing so!) is essential. 

Sales Adventure Trip – Especially for Remote Employees! 

Organize an annual group trip or retreat for top-performing sales reps, creating an exclusive incentive for those who achieve their goals. This type of incentive can be especially effective if you have a remote workforce. The first step is choosing the destination. Think about what kind of experience would be most beneficial for your employees, whether hiking through mountains or spending time on the beach. You could even organize multiple trips throughout the year (one in each season) so that everyone has ample opportunity to participate in this program! 

Mystery Rewards 

You can also create a sense of excitement and anticipation by offering mystery rewards for achieving specific milestones. These could include surprise gift cards, experiences, bonuses, flowers, or handwritten notes. They can be anything, as long as they're a surprise! 

And That's All for Now

You'll need to spark motivation and connection with your sales team for this to work. We hope these ideas help you create a program that works for your team. Remember that the key to success is finding an incentive that aligns with your company's goals and culture and offering something meaningful to each employee. If you follow these tips and tricks, we're sure your next sales incentive will be a success!