Properly Incentivizing Sales Talent To Consistently ProduceMar 08, 2023
This week has been a fantastic week at RevUp Mastery. Our Partnership Advisor (COA/SDR) team has been crushing goals and booking sales qualified leads that have converted into paying clients left and right. Our revenue and ops teams have revamped several different trainings and implemented cutting edge solutions to boost morale, retention and overall performance.
That’s why I am writing this blog from the comfort of my back, on the floor of my office while my neck screams bloody murder at me. I have an old football injury that acts up from time to time and this week of crushing goals has me slightly worn out, but not too worn out to tell you the story of what kicked us into high gear!
Last week, however, we were not quite as revved up. Our all-star team was running into brick wall after brick wall and booking less SQLs than we are used to. Our PA’s were not only short on total outbound dials, but pick-up rate and show-rate of SQLs were lagging.
This was in no way a moment when we began to hang our heads and wail woe is me. Even the most talented group of setters in the industry accept that no one bats a thousand.
What is interesting though, because our team was so used to success, last week's stall had a major impact on morale. Quickly, our leadership team began to brainstorm opportunities to incentivize our outbound superstars.
Approved initiatives were promptly implemented by our master revenue generator, Maya Madden and offered to our entire outbound team. We started by offering a power hour double commission for all appointments booked within the next hour. The chat announcement featured Elmo-Fire, Sirens and Coffee Bean Emoji’s along with an @all to let our company know it was time to cheer on our front line lead generators.
Within the hour we had 9 new SQLs booked by our RevUp Partnership Advisors (COA) for our RevUp Partnership Executives to then come in and close.
So what did we learn? Sales is like working out. Overtime if the workout feels mundane, progress stalls. So to get their blood pumping we needed a fun new workout and support from the entire team.
Incentives can be tailored to reward behaviors that align with the company's values, mission, and objectives. For instance, a company may choose to reward employees for meeting specific sales targets, exceeding customer satisfaction ratings, or even attending training programs to improve their skills.
At RevUp Mastery, we have found that a combination of short-term and long-term incentives work best. Short-term incentives, such as the double commission structure we offered, can provide an immediate boost to morale and motivation. Long-term incentives, on the other hand, can help build a culture of continuous improvement and growth. For example, we offer monthly and quarterly bonuses to team members who achieve their targets, which not only reward their efforts but also encourage them to set and work towards long-term goals.
It's important to note that incentive programs should be designed in a way that are fair, transparent, and achievable. Employees should have a clear understanding of what they need to do to earn the rewards, and the criteria should be based on measurable, objective goals. If the criteria are too vague or unattainable, employees may become demotivated or disillusioned with the program. Additionally, it's crucial to ensure that initiatives do not create unhealthy competition or breed resentment among team members.
In addition to boosting morale, incentive programs can also have other positive effects on the workplace. They help attract and retain top talent, create a sense of camaraderie and teamwork, and increase employee engagement and job satisfaction. They also encourage a culture of healthy competition, which drive innovation and growth.
It's essential to remember that incentive programs should not be seen as a substitute for good management practices, training, or a positive workplace culture. Instead, they should be used as a tool to compliment and enhance these practices. A positive work environment, clear communication, regular feedback and recognition are all essential components of a happy and motivated team.
In conclusion, incentive programs can be a powerful tool to boost morale and motivation in a sales team. They can help employees feel valued, recognized, and motivated to achieve their goals. However, they should be designed carefully, based on measurable goals, and tailored to the specific needs and goals of the company and team members. When implemented effectively, incentive initiatives will mitigate lulls in performance and assist in creating a supportive workplace culture that drives innovation, growth, and success.
Author: Experience Officer
& Founder Edits