Are traditional sales incentives falling flat? Discover how Giftly is shaking up the industry with a fresh take on rewards that empowers sales reps and drives results.
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As buying cycles lengthen and customer interactions become more complex, sales professionals face new challenges that can impact their drive and performance. This is where well-designed sales incentives come into play.
Sales incentives are additional corporate rewards or recognition offered to sales professionals to motivate specific behaviors, drive performance, and achieve business objectives. These incentives go beyond standard compensation like base salary and commissions.
From cash bonuses to experiential rewards, and from professional development opportunities to unique perks, we've got you covered with a diverse range of options to suit every team and budget.
Whether you're looking to increase productivity, boost morale, or drive specific behaviors aligned with your company's goals, the right incentives can make all the difference.
Forget fancy CRMs and AI-powered lead generation—the most powerful sales tool is the one that gets your team out of bed in the morning.
Well-designed incentive programs can increase performance by 25-44%, according to the Incentive Research Foundation. This significant boost in productivity can be the difference between meeting targets and exceeding them.
Engaged employees are 21% more profitable, according to Gallup research. Corporate incentives contribute to a positive work environment, reducing burnout and turnover while increasing job satisfaction.
In a tight labor market, a strong business gifting program can be a key differentiator in attracting and retaining top sales talent. Given that replacing a sales rep can cost up to 200% of their annual salary, retention is not just about team stability—it's about protecting your bottom line.
Incentives allow you to focus your team's efforts on key products, markets, or strategies with precision. For example, a telecommunications company used targeted incentives to increase sales of a new service line by 50% in just six months.
Thoughtful planning and execution lead to an effective sales incentive program.
Embrace these strategies to create a dynamic, effective sales incentive program that motivates your team, aligns with your business goals, and adapts to changing needs over time.
The core of any successful incentive program is a set of clear, achievable goals tied to specific rewards. Align these objectives with your company's overall mission while keeping them challenging yet attainable.
Cater to different preferences and motivations within your team by offering diverse rewards. Sometimes, that means cash. But don't underestimate non-cash rewards like flexible gift cards, extra time off, unique experiences, or professional development opportunities.
Recognition-based incentives, such as "Employee of the Month" programs, can also motivate sales teams. Incorporate team-based rewards to foster collaboration and strengthen company culture.
Personalization elevates your incentive program. One-size-fits-all approaches often fail in today's diverse workplace.
Understand what drives each team member through surveys or one-on-one discussions. Then, get them a flexible gift that lets them spend their incentive on the things that make them happiest.
An effective program motivates all team members, not just top performers. Implement a tiered incentive structure that rewards various levels of achievement.
Combine this approach with incentives based on individual improvement to ensure everyone has a chance to succeed.
Balance short-term and long-term incentives to keep employees motivated in the present while encouraging sustained performance and commitment.
Offer weekly or monthly bonuses for immediate gratification, and tie quarterly or annual bonuses to larger goals to promote long-term thinking.
Include long-term incentives like stock options or career advancement opportunities to foster loyalty and drive consistent performance.
Clear communication breathes life into your incentive program.
Create a comprehensive document outlining all aspects of the program, then hold team meetings, use visual aids, and regularly remind the team of ongoing incentives and progress.
Increased understanding leads to higher engagement.
Track progress and celebrate wins, no matter how small, to maintain momentum.
Use sales performance management software for real-time tracking and implement a visual system like a leaderboard to display progress.
Keep your incentive program dynamic. Regular evaluation and adjustment ensure it remains relevant and motivating.
Conduct quarterly reviews, gather feedback from all levels, and analyze performance data in relation to the program. Stay informed about industry trends and willingly make changes based on what you learn.
Let your program evolve with your business and team.
A one-size-fits-all approach to incentives simply doesn't cut it. An effective sales motivation strategy uses a diverse mix of incentives that cater to the varying needs, preferences, and motivations of your team members.
By offering a range of rewards—from monetary bonuses to experiential perks, professional development opportunities to public recognition—you create a program that resonates with different personality types and career stages.
Cash bonuses are additional monetary rewards given for meeting or exceeding targets. They provide immediate, tangible benefits that employees can use as they see fit, making them a universally appealing incentive. On the flip side, they are notoriously difficult to distribute and track.
To implement effectively, set clear, achievable targets and consider offering tiered bonuses for different levels of achievement. For example, you might offer a $1,000 bonus for reaching 110% of the quarterly sales target. This straightforward approach can significantly boost motivation and performance.
Gift cards offer a balance between the flexibility of cash and the personal touch of a specific gift. They can be for particular retailers or general use, allowing employees some choice in their reward. When implementing a gift card program, survey your team to understand their preferred retailers, and consider including local businesses for a more personal touch. A $200 Amazon gift card for the highest number of new leads in a month could be an effective motivator that feels more thoughtful than a simple cash bonus.
The catch is it’s difficult to select a gift card that appeals to everybody on your team, so not everyone is going to feel the same sense of motivation for specific, branded cards.
Giftly Cards take the concept of gift cards a step further by allowing recipients to choose their own reward experience.
This flexibility combines the freedom of cash with the thoughtfulness of a curated gift. To make the most of this incentive, customize card designs for your company and offer suggestions for local experiences.
You might award a $150 Giftly Card for exceeding customer satisfaction scores, allowing the recipient to treat themselves to a memorable experience of their choice.
Additional vacation days or personal time can be a powerful reward that promotes work-life balance and helps prevent burnout.
When implementing this incentive, ensure adequate coverage during the time off and consider allowing days to be taken in smaller increments for maximum flexibility.
For instance, you could offer one extra day off for every month of exceeding sales targets.
Experiential rewards, such as tickets or packages for events like concerts, sports games, or travel, create memorable experiences that boost morale and provide stories to share.
When offering these rewards, provide a variety of options to suit different interests and consider including a guest pass to make the experience more enjoyable.
A weekend getaway package for the top-performing team each quarter could be a highly motivating group incentive that also fosters team bonding.
Funding for courses, conferences, or certifications can be a powerful incentive that invests in employees' growth, benefiting both the individual and the company. When implementing this incentive, align opportunities with career goals and company needs, and require knowledge sharing post-event to maximize the benefit.
Acknowledging achievements through company-wide channels can significantly boost confidence and status within the organization.
Use multiple channels such as newsletters, meetings, and social media to make recognition specific and meaningful. A "Salesperson of the Month" feature in the company newsletter with a detailed success story can be a powerful motivator, especially for those who thrive on public acknowledgment.
Even if your sales rep prefers you don’t use a megaphone to shout their praises, it’s a good idea to share your praise with leadership. Salespeople love getting kudos that their boss' bosses hear about.
New technology or improvements to the work environment can enhance work efficiency and comfort.
When offering this incentive, provide choices to suit individual preferences and ensure compatibility with company systems.
For example, giving high performers the choice of a new laptop, standing desk, or noise-canceling headphones can improve their work experience while showing appreciation for their efforts.
Making contributions in an employee's name to a chosen charity shows that your company aligns with their personal values.
Offer a list of vetted charities or allow employees to suggest their own, and provide donation certificates. A $500 donation to the charity of choice for the top performer each quarter can be a meaningful reward that extends the impact of success beyond the workplace.
Provide extra motivation to push beyond normal targets with increased commission rates for exceeding certain sales thresholds.
Set clear, tiered thresholds and ensure the accelerator structure is sustainable for the company.
For example, increasing the commission rate from 5% to 7% for all sales beyond 120% of target can drive exceptional performance in top salespeople.
Giving high performers the ability to select preferred accounts or initiatives to work on increases engagement by providing more control over their work. Ensure fairness in the selection process and balance individual preferences with team needs.
Allowing the top performer to have first choice of new accounts for the upcoming quarter can be a strong motivator for maintaining high performance.
High-end products as rewards for exceptional performance provide a tangible, lasting reminder of achievement. Choose items with broad appeal and consider personalizing them with company or achievement branding.
A designer watch for the salesperson who closes the largest deal of the year, for example, serves as both a valuable prize and a daily reminder of their success.
Reserved, premium parking spaces for top performers provide a visible, daily reminder of achievement and status. Ensure the parking spot is truly desirable and consider rotating the benefit if there are multiple high performers.
An exclusive group for top performers with special privileges and recognition creates a sense of elite status and provides ongoing motivation to maintain performance.
Set clear, challenging criteria for membership and offer unique benefits to members. An annual retreat and priority on new leads for the top 5% of salespeople can create a highly coveted status that drives performance across the entire team.
Unique, physical representations of specific achievements provide a tangible reminder of success and can foster friendly competition. Design awards that align with company culture and make the presentation a special event.
An engraved crystal award presented at the annual company meeting for the "Rookie of the Year" can create a memorable moment of recognition and inspire others to strive for similar accolades.
A powerful sales incentive program catapults your sales team’s performance from good to great, but only if you provide incentives that actually perk each team member’s interests.
Giftly Cards combine cash flexibility with thoughtful gifting, empowering reps to choose truly motivating rewards. Your team members can select a celebratory dinner, a relaxing spa day, or funds for a personal goal – all tailored to their individual tastes.
This approach, supercharged by Giftly, doesn't just boost sales. It forges a culture of excellence, sparks collaboration, and fuels personal growth. It proves you value your team's efforts and invest in their success, while honoring their diverse preferences.
Don't settle for mediocre performance. Let’s talk about how you can Integrate Giftly as your versatile incentive cornerstone.
Gifts & Rewards Perfectly Suited to Your Business. Easy to send. Awesome to receive.
Gifts & Rewards Perfectly Suited to Your Business. Easy to send. Awesome to receive.
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