It may seem counterintuitive to offer B2B sales incentives for anything but the ultimate goal, namely, closing a deal. But strong sales are all about sales reps’ daily habits. And the more consistent your teams are with their sales activities, the shorter their sales cycles will be.
In fact, encouraging specific sales tasks — and rewarding reps for hitting goals such as number of calls made or demos given — boost sales by 6% to 9% over offering incentives based only on sales results, according to the Journal of Marketing Research.
Commissions, of course, are expected and provide strong motivation, too. But commission alone may not be enough to incentivize your sales team on a day-to-day basis, especially with more teams working remotely.
B2B sales incentives that reward daily or weekly activities can keep your team engaged, connected, and productive while working from home. And ultimately, help them achieve more sales.
Now that you have an idea of ongoing activities you can use to incentivize your team, it’s time to consider what you offer as an incentive.
According to the Incentive Research Foundation, top-performing companies are much more likely than their less successful counterparts to use non-cash rewards and recognition, including gift cards, to incentivize their salespeople (90%). It’s important to think about how you can make your incentive program engaging and relevant to your sales team’s motivations.
High-performing salespeople know that the fortune is in the follow-up. And that requires doing all the nitty-gritty sales activities listed above.
Making key sales tasks as rewarding as possible — with fun games and contests — will not only encourage your top performers, it will teach sales rookies that their everyday efforts are what make closing a deal possible.
Is your team made up of java junkies? Incentivize them to update CRM records completely by offering a digital Dunkin’ or Starbucks gift card. Plan to hold the contest once a quarter and give it a witty name like The CRM Daily Grind or CRM Cold Leads Brew.
Digital rewards have only grown in popularity since the pandemic, and it’s easy to understand why. But to incentivize any team, sales or otherwise, it’s important to make the digital rewards meaningful.
Be sure that the employee rewards you’re offering will motivate your sales reps to make these tasks part of their daily routine and that they align with the perceived value of the task.
An employee points reward program may be the answer to give appropriate value to each activity. Getting a prospective customer to sign up for a demo, for example, is a huge win, so that might earn twice as many points as reaching the call quota for the day.
You could also tap into the competitive factor. Reward the rep who booked the most demos with something of higher value, like a $500 Airbnb gift card or prepaid Visa or Mastercard. It’s all about finding what resonates with your particular sales team.
B2B sales incentives based on activities are an ideal way to round out your rewards program and, when chosen wisely, can support your sales team as they build your company’s book of business for you.
To learn more about how BHN Rewards can simplify your B2B sales incentives, take a product tour.