What's the best sales incentive reward? It's a trick question: there isn't one! Salespeople are individuals, with different personalities, priorities and interests. Every salesperson is in a slightly different place on their career trajectory. The most effective sales motivation strategies offer sales rewards and recognition that match up to each salesperson's experience.
Incentive Solutions CEO Steve Damerow, recently explored diverse sales reward options in an article published in Selling Power magazine. He breaks the typical sales force up into three groups:
- laggard performers (20%)
- core performers (60%)
- star performers (20%)
Each group must be viewed a slightly different way. Great investments should be made in the core performer group, for example, because increases in their productivity can have the biggest impact on your business. But you can't ignore star performers, because they're your top talent—sales rewards offered to them should be significant and focus on retaining them in the long-term. Read the full article in Selling Power for more insights into how, when and why you should reward each of your sales performer tiers differently.