Control Sales Budgets With the Right Rewards Management Platform

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    Hannah Prince

  • posted

    May 29, 2024

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Control Sales Budgets With the Right Rewards Management Platform

Fewer demo no-shows? More prospect interactions? A shorter sales cycle? Better (and more profitable!) customer relationships? For any sales manager, the benefits of a rewards management platform to empower their reps should be a no-brainer. But the realities of budget and access must always be a consideration, too.

With an enterprise-ready rewards management platform like BHN Rewards, though, you can give your reps the freedom to incentivize their prospects and nurture their existing partnerships while setting important guardrails. Even better, BHN Rewards integrates directly with CRMs such as Salesforce and Microsoft Dynamics 365. That means your teams won’t have to learn a new tool to incorporate rewards into their sales cycles. Managers or operations specialists can serve as account administrators to grant appropriate access and budgets.

Here are four ways BHN Rewards helps you arm your sales teams with effective rewards for prospects and customers while making sure they don’t overspend and you have 100% visibility.

READ MORE: Download our Sales Playbook on using rewards for prospects and customers

Set Up Separate Groups for Different Sales Teams

The BHN Rewards management platform allows account administrators to create multiple user and budget groups, so you can set different permissions and budget limits for different teams. You can give sales leaders the necessary access to add campaigns for various use cases and new blitzes.

In addition, you can add users to separate budget groups to tailor their available rewards to their role and needs. For instance, your business development reps may use more rewards because they are constantly incentivizing prospects to attend demos and meetings, while your account managers may send rewards less often and therefore need a smaller budget. Or you may want to allocate more budget to a team tasked with selling the newest product offering so you can build momentum.

There is also the option to add multiple funding sources, so rewards for each sales team can come out of their own budget.

Set Budget Limits Once to Reload Every Month

When you create budget groups and set the amounts allotted to each, they automatically reset for the individual users every month. You don’t need to go into the rewards management platform to reload accounts. This helps you cut down on the administrative burden of an ongoing rewards program.

Want to adjust some numbers? That’s easy, too! Just edit your budget groups to raise or lower the amounts that are automatically given to each member.

Easily Approve Overages When Needed

If a sales rep goes over their budget for the month, any additional rewards they try to send will go into the approvals queue in the BHN Rewards management platform. A sales leader who is designated as a BHN Rewards account administrator can then quickly approve those rewards with just a few clicks. That way, you don’t miss a chance to incentivize an important prospect, and you don’t have to change any regular budget allotments.

Keep Track of Each User’s Spend

Sales leaders also have access to a budget utilization report in our rewards management platform, so they can monitor what each rep is spending. This helps track your ROI and make sure that your sales teams are using their rewards budgets effectively. You can even sort the report by budget group or workspace to show you the utilization for each part of the organization.

Ready to see how our rewards management program can integrate with your CRM and give you the budget and access controls you need for your sales teams? Request a demo today!

about the author
Hannah Prince

Hannah is a reformed journalist who has more than 15 years of experience and now focuses on content marketing for innovative tech companies.

Hannah is a reformed journalist who has more than 15 years of experience and now focuses on content marketing for innovative tech companies.