the a-z of sales incentives
Post on 19-Oct-2014
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DESCRIPTION
A-Z: key things you need to know about implementing a sales incentive program.TRANSCRIPT
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The A-Z of Sales Incentives
Scott SiewertDVP, Sales
USMotivation
Amie FosterNational Accounts Manager, Retail IVC Group
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OK, WE CONFESS.It’s not really A through Z.
That would take forever.
…and this would happen.
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Today’s lesson:
Essentials of a successful sales
incentive program (Not in alphabetical order!)
download of A-Z eBook at end
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The facts.
69% of
employees
say they are
motivated
by non-cash
incentives
(Gallup)
$76.9 billion industry (Incentive Research Foundation)
In other words, incentive programs work.
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A is for Assessment
• goals and objectives• current situation/gap analysis• sales/channel team and compensation structure
Goals Identified
Management Buy-in
Sales Performance
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B is for Buy-in Leadership buy-in:
• supports program • approves funding
Management buy-in
• ensure they are operating the program correctly
How• case studies• white papers/eBook• financial analyses• testimonials
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• program goals and structure• budget and length• program type and rules• type of rewards• communication and
measurement
D is for Design
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• frequent and compelling• motivates participants• find them where they live (mobile, social, email, etc.)
C is for Communication
program websites
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virtual environments
email campaigns
mobile communications
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E is for EngagementEngagement is essential!
• training and support• spiffs and promotions• gamification• award choice• dashboards, standings
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What types of rewards are you using in your incentive programs:
1. Travel only2. Merchandise only 3. Gift cards4. Mix of the above5. Cash only
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P is for Program Types
• Points• Online• Sales• Dealer/Channel
VARsdistributorswholesalersretailers
direct
redeemable for rewards
web-based programs, typically with catalog
manufacturer
distributor distributor
retailer retailer retailer
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S is for Structure
• target audience/product• who can participate• volume/value thresholds• individual or team goals-or
both• open/closed-ended,
plateau• tiered incentives
Structure establishes rules
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R is for Rewards
• Travel Incentives• Merchandise• Gift Cards• Events/Experiences
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M is for Measure
• determine metrics• automate reporting• calculate ROI• communicate results• analyze and modify
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Class Dismissed!
Thank you for attending!
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