Considerations When Planning Team Incentives
When planning a team incentive for your direct sales consultants it is important to consider many criteria. With careful planning you can accomplish what you set out to do without breaking the bank.
Your average sales distributor should be able to achieve the sales incentive with a bit of a stretch.
11 Considerations Planning Team Incentives
- What would you like to accomplish? What changes would you like to see in your team?
- How can you make the team incentive meaningful enough to motivate?
- How much will it cost you per achiever?
- Are there any reps who earn everything and therefore are a guaranteed payout?
- How many reps will never earn it no matter what it is?
- Will it challenge the average distributor but not look too hard?
- How many will accept the challenge and become more motivated to try to stretch and reach it?
- What will it cost overall if all they do achieve your team sales incentives?
- How will you benefit financially from the incentive program immediately and over the long term?
- Does the cost justify the results? Is the ROI worth it?
- Does your incentive support the home office agenda and team incentives?
Planning sales team incentives is not a simple task.
Take the time to think through these points and make an educated and thoughtful plan for all your sales team incentives. Keep notes, track and record results and with time you will learn more about each one of the considerations above.
Team Incentives Participation Rate
Your guess is as good as mine in regard to how many of your distributors will participate.
Calculate your numbers using several different scenarios so that you are prepared for a low, medium and high participation and achievement rate. After running a few incentives you should have a better idea on how many people take your challenge, then it will be easier to get a handle on the actual numbers for future team incentives.