sales success

Incentives are Central to Sale Success | 360insights

  • February 05, 2018

Brands that offer incentive programmes to their sales force are more likely to have driven and dedicated sales teams and achieve sales success.

An independent survey we commissioned recently revealed that 85 percent of respondents said that they feel more motivated when there is a rewards programme in place. Furthermore, 75 percent said they feel a stronger association to the brand when incentives are offered. These are striking findings.

According to the Harvard Business Review the annual turnover among salespeople can run as high as 27 percent, twice the rate of the overall labour force.

Sink or swim?

Sales culture is different compared to pretty much every other business function in that a company expects most sales people to fail or succeed almost totally on their own.

This attitude has also informed an understanding in which many companies hire sales people on a ‘sink-or-swim’ basis, taking the view that between 25 and 50 percent of a sales team won’t achieve sales success.

But our survey findings strongly suggest that if a company puts the right rewards and incentives the sales team will perform better.

For instance, 80 percent of respondents also said they work harder when the right incentives are in place. As the survey shows, this also leads to greater motivation and brand loyalty.

It’s not too great a step to realise that in turn a compelling rewards and incentives programme leads to increased long term sales and reduced churn among the sales force.

Dig deeper in our latest eBook and find out what British sales people think about incentives: The Three Ways Incentives Fire Up Sales Teams

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What happens in the Channel in 2021? How do we learn from 2020?Please take a listen to our #ChannelEdge discussion with 360insights CEO @jayatkins, as he shares what he learned from 2020 and what to expect for 2021. 

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As the channel becomes more decentralized, vendors are under more pressure and are competing for share of voice and mindshare across an ever more varied channel eco-system. Is there a solution?

Our latest blog suggests there is, read on to find out: https://okt.to/K2CVzZ

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Want to accelerate your customer experience and markets by offering smarter, automated buyer promotions? 

You may find this success study showing how one brand achieved it insightful.

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The #OTAlumni Association Council is excited to announce the first 2021 speaker series: an evening all about workplace culture with @travisdutka, Culture Curator at @360insights and @OT_FBIT alumnus!

Register now: https://bit.ly/2XGXYcs

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