Well Thought out Rewards Programs Drive Success
Businesses have all sorts of issues to deal with in order to drive success. But one of the most critical is the success of the front line sales teams.
They’re out there in the trenches, bringing in the customers. Everything else a business does spins out of sales activities.
As such it’s taken as a matter of course that sales teams are motivated, firing on all cylinders and out there doing what they need to do. Or is it?
We recently commissioned an independent survey that canvassed sales people on what gets them out of bed in the morning and drives them to achieve sales success.
The findings are a little more than interesting, they’re positively revealing.
For instance, 80 percent said they work harder when the right incentives are in place, 85 percent said they are more motivated when there is a rewards programme in place and 75 percent said they feel a stronger association to the brand when incentives are offered.
Loyalty and hard work
These findings point in a one direction; the need for a rewards and incentive programme that motivates and drives the sales force to success.
The implications are clear, sales people are willing to work harder for a sale that involves a reward and they are also strongly inclined to have greater loyalty for the brand.
The potential consequences of not developing such a programme are equally clear. Brands without a rewards and incentive programme in place risk alienating their sales force and are in danger of not getting the most out of their teams.
In practise, this is likely to translate into lost sales and also high churn rates as sales people potentially go over to competitors who reward them for their hard work.
It’s clear from these findings that a well-thought-out reward programme leads to a more motivated sales team that feels a stronger association to the brand which in turn means greater sales and a healthier business.
Our eBook “The Three Ways Incentives Fire Up UK Sales Teams” dives deeper into our recent study. Download the eBook HERE.