Motivating Your Sales Team
Are sluggish sales holding you back from growing your business to the next level? If you’re offering a competitive product or service to a proven market, then perhaps the problem may be your sales team. Here are some tips on how to keep them motivated.
Every sales guru will tell you that there is much more to motivation than money: but it remains the one element of a successful strategy that they will never, ever, omit. As a starting point, make sure that your sales staff are fairly compensated, both internally and compared to peers at other companies, including bonus and commission structure).
After a compensation baseline is established, you’ll have room for more creativity when planning recognition programs that go beyond cash. Non-monetary prizes, such as an iPad or a hotel stay for top salespersons, can be better incentives than even cash. Ask yourself what rewards would motivate your sales team the most.
One thing that definitely motivates sales people is competition. People get satisfaction not just from immediate reward, but also from their relative position to others. We don’t just want to “keep up” with the Joneses – we want to pass them.
So social recognition and prestige is a very effective motivator for some. Publicly celebrate top performers with something as simple a rotating ‘salesperson of the month’ plaque or by regularly posting a list of top salespersons to encourage competition. Only have one sales person? Hire a second one. The competition will inspire both of them to bring in more sales.
Finally, use the carrot rather than the stick to boost sales. While your sales team should meet certain targets, don’t set them so high that your staff overly worries about job security. Not only may this be counter-productive, it may tempt them to abandon ethical sales practices. Instead, let the rewards of success be the motivator.