Everyone knows that inside sales teams are integral to the success of any sales organization, however are often compensated the least, and by extension, the hardest to keep motivated.
In spite of robust commission plans, waiting for the end of a quarter (even if it’s only 3 months away) can seem like a lifetime, and have a chilling effect on a sales team motivation. Think about it this way, if you’re quarter begins in January, it’s hard for your reps to envision April 1st (especially if you live in the North East where the winters tend to drag).
We’ve found that the best way to ensure your inside reps never give up on a month/quarter is to use a short term rewards such as spiffs to help motivate them to consistently hit targets. How would this work, you ask?
One of the programs our clients have had consistent and measurable success with is a Spiff program where Spiff dollars get loaded onto a company branded reloadable prepaid credit card in instances where: a deal is closed, or when a meeting or new business is obtained etc… The obvious advantages of such a program:
- A measurable increase in top-line revenues. More activity from your inside team, will translate into a bigger pipeline and more deals closed.
- A consistently engaged and motivated inside sales team. Sales people are motivated by money and the faster it comes, the harder they work. Every time they use their company reloadable card, they are going to be reminded of extra dollars they get for creating consistent activity in the sales pipeline;
- A better way for management to track top performers across their entire sales organization. Our 360 software portal allows management to track who their top reps are across their entire sales organization in real time. This allows management to see not only what programs (i.e. dollar /incentives) work better across different regions, but also allows them to identify best practices to improve and allocate resources in areas where they will receive optimum results.
There is so much focus on rewarding reps for how well they do against their goal, so it only makes sense to also reward them for excelling at certain skills that help them to get there. A well-managed Spiff program will help your sales teams achieve their targets, and mean far less stress come end of quarter.
Grace-Emily Saati is a Sales Channel Incentive Specialist with 360Insights.com. Connect with Grace on Twitter@GraceEmilySaati or Google +.