Sales leaders, how are you helping your direct reports hit their fourth quarter – and annual – numbers as we approach the end of the year? It’s time to motivate your team with incentives!
It’s Time to Incentivize
You already know that it’s better to motivate your direct reports with the carrot instead of the stick, and it is truly incredible how much creating incentives can have an impact on sales numbers.
Recently, Lisa was thinking back on her days in sales at ADP and recalling how motivating it was to win the large contests they ran and achieve President’s Club status. Once she won these awards and was treated like royalty, it motivated her to do everything in her power to achieve this level of success again and again, year after year.
While the big prizes like President’s Club were large motivators, even the smaller awards at ADP inspired Lisa, and her fellow salespeople, to work hard and surpass their goals. Back in the 90’s, if they hit their quarterly numbers they were invited to a Quarterly Winner’s Circle Dinner with the leadership team. While the meals weren’t anything special and the restaurants were typically dives, they were an excellent opportunity to get face time with the higher ups. Every quarter, Lisa would strive to hit her quotas so that she could earn her place at that table.
How Our Clients Use Incentives
At BDU, we recently helped one of our clients put together an incentive for their team that focused on bringing in new business. They offered a travel voucher to anyone who hit 110% of their target, and this one incentive has greatly motivated their salespeople to become laser-focused on this key initiative. With only two months left to receive a travel voucher, a good portion of their sales force has already achieved their year-end new business goals. While it is an additional expense for the company, they’ll end up receiving a great return on their investment.
The incentive that you offer doesn’t have to be a big one. Another BDU client offers a gift card to the salesperson who schedules the most net new appointments during phone blitzes. No matter what, make sure your incentive is something your team is excited about and will encourage them to go above and beyond.
Fourth Quarter Motivation
The size of your sales organization doesn’t matter. Whether you’re a big company with a large sales force or a small organization with just a few people, offering an incentive now in the 4th quarter is a great way to motivate your salespeople to not only meet but exceed their year-end quotas, and it will have a residual impact that will be felt well into the new year.
Need some ideas for incentives you can use to motivate your team? We can help! Contact us to schedule a brief, complimentary 15-minute call with Lisa so that she can assess your specific situation, share thoughts and ideas, and help you determine how best to approach and implement incentives that will truly motivate and inspire your sales team.