Three New Rules for Sales Incentives in a Post-COVID World
In the wake of the pandemic and the shift to operating almost entirely on a remote basis, business leaders will need to reevaluate what makes Sales Teams tick. They will need to work much harder to keep team members engaged, motivated, and productive.
Here are three new rules business leaders should follow if they want to ensure their Sales Incentive programs remain effective in a post-pandemic world:
1. Goals Must Be Quickly Within Reach
Everyone says the millennial is the generation of instant gratification. However, after a year of isolation, social distancing, lockdowns and a general, ‘we have to just wait and see’ environment, people of every generation have grown a little impatient. Managing virtual schooling, permanently working from home and living under countless travel restrictions, social guidelines and government-imposed constraints, has taken its toll on all of us. In general, the world is feeling just a bit burned out. This is especially true for professionals who are working extended hours or taking on dual roles. Sales leaders and executives seeking to motivate their Sales Teams with an incentive program will need to set attainable goals with frequent recognition opportunities. Program participants need to feel like the rewards are in reach, and that there are plenty of them to go around. Setting frequent goals, no matter how small, will stimulate a desire to participate in the program and strive for success. Creating achievable milestones will inspire sales reps to continually reach for more; thus driving their sales and ultimately boosting your bottom line.
2. Choice is More Important Than Ever
Giving participants the ability to choose from a variety of trending rewards across multiple categories has always been an essential piece of building a successful program, but it is now more critical than ever before. Rewards need to mean something to people — especially in a time when we’ve been deprived of so much. Items that matter are the items that truly motivate. For example, the drastic change to living life on lockdown/at home has created a shift in reward redemption trends. Handbags and items of indulgence have been replaced by rewards that can benefit our lives at home; this includes personal care items, outdoor living and DIY tools. The choice to select the rewards that mean the most to them will leave participants feeling understood, valued, appreciated – and most of all, inspired.
3. Employers Need to Reward Teams in Creative and Meaningful Ways
Employers will need to get creative to keep teams committed and energized amid the ongoing pandemic. Implementing a dynamic incentive program that includes a multitude of initiatives, such as virtual and experiential shopping events, sweepstakes, product giveaways, and points programs are all highly effective in inspiring staff members.
For more guidance on how to make your Sales Incentives programs a success, or for access to today’s most motivating and exciting rewards, contact us today.