Every business, regardless of industry, depends on an effective sales team. No matter how good your product or service is, the only way to reach customers and explain the solutions your company can offer is with a well-trained and highly motivated sales force. While many sales people are self-motivated individuals, it is still worth instituting programs and incentives within your company that maximize their performance and motivation.
One effective way to motive your sales team and increase sales effectiveness is by recognizing your top performers. There are many different ways to accomplish this goal, but the following are a few of the most popular and effective methods.
If there is one thing that all sales people have in common, it is financial motivation. Most sales people choose to work in sales because they like the fact that they are directly rewarded for their sales success through a commission structure. Adding additional financial incentives for outstanding performance can be an effective way to make a sales person reach a little bit higher each month, and can give them a specific goal to aspire to. If you don't have commission-based sales structure, financial incentives are usually even more effective.
Exclusive trips for top performers
Another thing that many of the top performing companies offer is annual, semi-annual, or quarterly trips for their top sales performers. In large businesses, this is a great opportunity to single out the best performers while also giving the company executives a chance to meet with and build relationships with top sales performers, who are more than likely individuals that will be first in line for promotions at some point in the future. If spouses are invited, a deeper social connection can be made that will influence loyalty and retention of your top people.
There is mixed consensus on whether public recognition for great performance is an effective way to reward and motivate top sales people. However, the reality is that most people like to be recognized for their successes, whether they want to admit it or not. The other major benefit of recognizing top sales performers publicly is that it can inspire and motivate the rest of your sales team to aspire to the level of your top performers.
Giving promotions to your top sales people is one of the most important and effective ways to reward them for outstanding performance. Most obviously, promotions are a tangible and lasting reward for top performers. However, the real benefit of promotions comes from the fact that top sales performers are a particularly valuable asset for your sales team and company as a whole. By promoting top performers, you help create a genuine sense of loyalty and mutual commitment between the sales person and the company. This is one of the most effective ways to retain valuable employees for the long-term. The other major benefit of promoting top performers is that, more often than not, you are promoting them into a position where they will be leading a sales team of their own. This is great for everyone involved, as the newly-promoted sales leader will already have the respect of his or her team, since they have already proven that they know what they are doing.
There are more ways to reward top performers than just the suggestions listed above. However, these methods are popular in the business world for a reason; they are effective and have proven to be cost effective. If you have other ideas or suggestions, make sure to add them in the comments below!
Interested in learning more about how to improve your sales team's performance? Check out the following blog posts:
- 5 Ways to Build Rapport that Increase Sales Outcomes
- Retraining Your Sales Team To Increase Sales
- Three Issues Preventing Sales Success