The A-Z of Sales Incentives

The A-Z of Sales Incentives

Scott SiewertDVP, Sales

USMotivation

Amie FosterNational Accounts Manager, Retail IVC Group

OK, WE CONFESS.It’s not really A through Z.

That would take forever.

…and this would happen.

Today’s lesson:

Essentials of a successful sales

incentive program (Not in alphabetical order!)

download of A-Z eBook at end

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.

A is for Assessment

• goals and objectives• current situation/gap analysis• sales/channel team and compensation structure

Goals Identified

Management Buy-in

Sales Performance

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

• program goals and structure• budget and length• program type and rules• type of rewards• communication and

measurement

D is for Design

• frequent and compelling• motivates participants• find them where they live (mobile, social, email, etc.)

C is for Communication

program websites

virtual environments

email campaigns

mobile communications

E is for EngagementEngagement is essential!

• training and support• spiffs and promotions• gamification• award choice• dashboards, standings

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

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

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

R is for Rewards

• Travel Incentives• Merchandise• Gift Cards• Events/Experiences

M is for Measure

• determine metrics• automate reporting• calculate ROI• communicate results• analyze and modify

Class Dismissed!

Thank you for attending!

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