Sales incentives can be a great way to motivate your team and boost sales. But with so many different types of rewards available, it can be tough to choose the right one for your business objectives.
This article provides an overview of the most common sales incentives examples and explains how to pick the right one for your team.
30 Inspirational Sales Incentive Ideas to Motivate Your Team and Boost Growth
Sales can be a difficult job. It is important to have motivation and ways of keeping you motivated. Sales managers and team leaders often create incentive plans to motivate their employees in this fast-paced environment.
No matter the type of sales–like retail products, car sales or service memberships–incentives and reward systems for acknowledging when employees meet and exceed expectations are highly advantageous in the workplace. This article will discuss the advantages of incentive programs and provide 30 examples of sales incentives to help you create the right sales incentive for your employees.
What is a sales incentive?
Employers offer sales incentive programs to reward sales reps who sell a certain amount of products or hours. Sales incentives can be monetary, experience-based, physical, or any other incentive that is targeted at employee motivations or interests.
Sales incentives differ from sales compensation in that commissions are usually paid. This is a common way that sales reps can make extra money beyond their regular salary. Instead, sales incentives are rewards which recognize achievement of goals and contribute towards the overall success of an organization.
What are the best sales incentives for businesses?
Many companies use sales incentives as a regular reward program when sales reps achieve specific sales goals (such as selling a certain quantity of products or generating a certain amount of sales revenue). Businesses will also use sales incentive programs to motivate employees and help them achieve their goals.
30 Sales incentives Examples
Apart from monetary compensation, there are many other options you can offer in a sales incentive program. These are great sales incentive ideas, which can include team outings or personal days off.
A great incentive is an outdoor activity or special entertainment. These ideas will inspire your team to get outdoors and do something they enjoy.
Tickets for festivals and concerts
Tickets to theme parks
Tickets for a sporting event
Outdoor excursions such as a boating trip, orcamping trip
Going to a museum or art gallery
Going to a comedy club
Physical rewards are another great incentive, especially if they are something your team can use every single day. You might think about items that will improve their workflow, or personal items they can use at home.
Accessories for technology such as earbuds, tablets, watches, and other accessories
Coffee makers and small appliances
Equipment for the office, such as standing desks and new monitors
Motivational factors include professional development and continuous learning. Your team will benefit from the opportunity to participate in a seminar or course. This will allow them to gain new skills and help improve the company’s sales results.
These are great incentives to include as part of your sales incentive plan:
Professional development training
Online courses available for free
Classes for a team hobby/interest
Fitness and gym discounts
Public speaking seminars
Sales development courses
Monetary rewards can still be a powerful sales incentive. It is a great idea to offer monetary rewards to all members of the team. This will ensure that everyone receives recognition. Here are some monetary incentives:
Rewarding your experience
Exploration and experience are great sales incentives because they allow employees to make memories and engage in meaningful activities. You might also like:
Additional days off work
Vacation: Get discounted airfare
Spa day or retreat for the team
Hotel expense for a weekend getaway
Ideas for food and beverages
Incentives that include food and beverages are also very effective. You can reward your team with food and beverage ideas that will get them excited about going out for dinner, getting a subscription box by mail, or attending a team event. Here are some food and beverage incentives:
Restaurant gift cards
A one-month subscription for meal and snack delivery
Gift baskets for food
Wine tasting events
Night out with the team
Beverage club membership
There are many benefits to using sales incentive programs
Implementing a sales incentive program has many key benefits, including:
Productivity increases in the team
For increasing productivity, a reward system that rewards sales reps for exceeding their sales goals or expectations can prove to be very effective. Sales teams will also learn new and valuable skills as they work toward these goals. Your team will be able to work together and improve their sales performance by offering sales incentives.
Engagement at higher levels
Incentives can be a great way to motivate employees and increase their commitment to their work. Setting goals for your sales team that include recognition and rewards can increase engagement in collaboration, strategizing, and implementing sales techniques.
Greater job satisfaction
Your team will be more satisfied if you offer incentives that reward team effort and success. Employees will be more satisfied with their jobs if their sales managers acknowledge their contributions. This will lead to higher productivity and better sales performance.
Team collaboration can be boosted
A better team can be achieved through increased productivity, performance, or development in sales. A team can improve if incentives are shared with the entire team and not just one reward. They will be more likely to recognize each other’s contributions, and find creative solutions for problems.
This will help companies achieve their sales goals.
Team morale is higher
Teams that improve their collaboration, feel appreciated for their work and feel valued will be more likely to be positive and upbeat in the workplace. This is crucial for creating meaningful work, meeting goals and adding value to the organization.
Employees who are happy and satisfied are more likely to support their colleagues in reaching their goals than to focus on their own needs.
Tips to create a sales incentive program that is successful
It is important to create a rewards system that is meaningful to all members of the team, to the entire organization, and to each person. These are some tips to help you create a successful and effective sales incentive plan.
Find out what motivates your staff
Find out what motivates your team members. Create a survey to find out what motivates your team members. Discuss your common interests and motivators with your team.
You’ll likely get valuable feedback from your team about what they would like to see as an incentive. This is important as it will allow you and your team to recognize each other’s achievements.
Set achievable team goals
Your sales reps should be given realistic goals. You can use individual goals to create an overall average for the entire sales team. As an example, consider a car sales team. A team objective could include each member’s sales total.
The average of these individual sales would be the team goal. This is a team working together toward a common goal and further developing each member.
Determine the metrics of your plan
You should establish measurable criteria to indicate when your team has met its objectives. This could be a daily sales amount, a weekly quota for products sold, or any other metric that you can easily track to measure achievement and performance.
You should also make sure that the metrics you use are simple and not too complicated so that you can quickly and easily measure progress and performance.
Combining monetary and nonmonetary incentives
You could offer a cash bonus to the team for the first quarter, a weekend trip for the second quarter, tickets for a sporting event in the third quarter, and another monetary reward for the fourth quarter. It’s a great way to keep your team engaged and excited about their work.
It is important to mix and match these sales incentives examples, especially for teams with different motivations and interests. You can offer a different incentive every month or quarter to give your team a variety of incentives.