How to Incentivize Your Sales Team to Exceed Their Targets
A well-chosen gift can boost your team’s performance. It may even help decrease staff turnover. Learn what you can do to show your appreciation for your sales team’s hard work in the right way.
The sales team members are the celebrities of most businesses. They’re crucial for your company’s success. They serve as an essential link between your customer and your company’s service or product.
First and foremost, your sales team is the face of your company. When your salespeople meet with potential clients, it’s their faces that are associated with your business. They are the ones who’ll make the first impression.
They’re also responsible for bringing in revenue. Many people think that the sales department is only responsible for sales. But their expertise goes beyond that.
These men and women are the heroes who bring in new clients and help retain existing ones. They help to build and maintain relationships with clients. Their quality service can inspire trust and loyalty to your brand.
Their success is your success.
But that’s a lot of pressure to put on one department. This stress may explain why turnover rates are often so high.
Harvard Business Review says that estimated annual turnover rates for salespeople in the U.S. can be as high as 27%. That’s twice the overall rate. What’s more, the average length of time a salesperson stays with one company is only two years.
That’s a high risk of losing some of your most valuable team members. Most sales teams aren’t that big to begin with, so losing a star talent can be a huge blow to a company. Not to mention the cost and aggravation associated with finding and training someone new.
Fortunately, there are some things you can do to lower your turnover risk.
Everybody needs to feel appreciated, and it’s no different for your sales team. Recognizing their efforts is a great help in retaining your top performers.
Showing appreciation boosts morale and inspires company loyalty. It’s one of the simplest ways to ensure your employees are happy. This means higher performance and lower turnover rates all around.
Many business owners may assume they lack the time and funds to show adequate appreciation to their employees. But incentive programs come in all sizes and budgets. It doesn’t necessarily have to be all about the money.
Taking the time to show how much you value your employees has long-term ramifications as well. Forbes reported that voluntary turnover rates can go down by as much as 31% if you have a solid incentive plan.
When it comes to recognition, one size definitely does not fit all. A Gallup survey found that it’s not enough to give blanket recognition. It has to be authentic, honest, and individualized, too.
What can you do to keep your sales team feeling appreciated and motivated?
3 Ways to Motivate Your Sales Team
Your sales team is the happy face of your company. At least, you should do your best to make sure they’re happy.
After all, a happy worker is a productive one, right? You need to ensure that your sales force always puts their best face forward. Take a look at three ways to make sure your salespeople stay happy and motivated:
#1 Create a Happy Workplace
Google is one of those companies that revolutionized the workplace. Maybe that’s how they developed a reputation for having one of the best work environments. Some of the perks at Google include:
- On-site massages
- Free fitness classes and gym memberships
- Generous vacation plans
The work environment at Google is legendary in the business world. That’s part of the reason the company’s enjoyed such sustained success.
They strive to promote a balance between work and life. That, in turn, encourages employee engagement, as well as organizational identity.
Offering a stress-free environment is only part of the story, though.
Google also offers its employees generous compensation and a flexible work schedule. All of these factors combine to inspire employees to constantly push the envelope of innovation.
But let’s face it…
Your business probably doesn’t have a Google-sized budget.
Still, there are many inexpensive ways to encourage your sales team to greater heights.
#2 Kick Up Your Festive Sales Incentives
Does your office turn into a ghost town once the holidays come around?
Many employees wind down their work schedules over the festive season. It can be an important time to boost employee morale by offering incentives.
A Sodexo survey found that productivity and motivation levels dip right before the holidays. As many as 28% of the respondents said that, not only do they wind down, they try to avoid taking on new work, too.
Offering the right incentives can tone down these effects. Try giving your team holiday-specific tasks or goals that drive your business forward. Offer a rewarding festive treat when they achieve one of these goals.
There are a variety of incentives you can offer, such as the following:
- Team lunches
- A bottle of wine
- Leaving early one evening
In addition, you can offer gift cards and gift vouchers. Employees can spend these incentives on extra food and drinks for their holiday parties. Or treat themselves to something nice.
#3 Provide Flexible Working Hours
Don’t underestimate the power of flexible working hours. The ability to balance work and personal life can really motivate your employees. Flexible working hours help your team do just that.
Your sales team has to maintain high spirits all the time. It’s a necessity for them to perform at the best. When you have a great sales team, they already have the right tools to succeed – regardless of where they’re working from.
There are many ways to offer flexible working hours. You can give them paid days off to recharge and take care of other things in their lives. You can also let them work flexible hours, or remotely from home.
Remember, you want your sales team out there talking to clients. So it’s important to provide an environment that gets them out of the building without repercussions. Let them get out there and do what they do best without having a babysitter looking over their shoulder.
The Power of a Personalized Gift
Personalized gifts are another way to show your appreciation and recognition of a team member’s hard work. It shows that you took the time to get to know the person. This is a deeper form of appreciation than just verbal acknowledgement.
There are a few things you should consider when you choose to personalize gifts.
On top of knowing the person well enough to come up with a meaningful message, you need to make sure you plan in advance. It can take two to three weeks to order customized gifts. You want to make sure to account for that processing time when selecting your gift.
Consider gifts like the Black Humidor from Kustom Products for the cigar aficionado on your team. You can personalize this beautiful Spanish cedar box with an initial and last name, or a string of text.
The engraved Flat Decanter by Style 8 may be a good option for the team member who has an appreciation for fine spirits. If someone on your team collects watches, the Cherry Watch Box may be the right choice. It all depends on your recipient’s preferences.
When you take the time to select a personalized gift, it strengthens relationships and builds loyalty. It’s also a nice surprise to receive a personalized gift in addition to the standard achievement incentives.
Are you ready to delight your sales team with the perfect gift?Kustom Products offers all of these gifts and more. Find the perfect way to say a job well done. Click here to see more options.