The technology sector is filled with interesting products and services. There’s plenty for sales staff to engage with and be passionate about when it comes to products. But how can you drive stronger sales performance?
A sales incentive, targeted in the right ways, can help to drive improved staff performance and help to convert a passion for technology into continued sales for your business.
What do you track?
Your sales incentive might need to focus on a specific area of your business and be designed to increase sales in a specific area. For example, your sales incentive might target:
- A specific product
- Extended warranties
- Cross and upselling (adding value to existing sales)
- Products from specific brands
Providing a focus, such as adding additional value to sales, can help you to improve sales, while also providing something to track across your sales teams. This also helps you to shape your sales incentive. For example, tracking the amount of upsell on different transactions, and keeping a cumulative total for each staff member. This total can then create a leader board. Using this leader board, you could reward the top performers each week, or at the end of a predetermined length of time.
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How often should you give out rewards?
Choosing to give staff rewards is a great way to show that you appreciate their efforts, and it also helps to motivate them to continue their current level of performance.
This doesn’t just need to be when staff complete a sale either, you could reward staff as they progress through an elearning programme. With so many different products on the market it’s important that staff know what they are talking about, so they can make the best recommendations to customers.
As staff complete modules they can earn points that are added to the same points banking platform as a sales incentive, meaning they can also carry that motivation and momentum from training over into other aspects of work.
During a sales incentive, it is important to make sure that you don’t lose momentum. When you run a longer incentive, it’s possible that focus on the incentive can waver.
Smaller rewards can help to hold staff interest and drive performance in the short term.See our sales incentive ideas
You need to decide when you’re going to reward staff during an incentive. You might have smaller rewards for performers at the end of each week, or at the halfway point in an incentive. These can help to maintain that level of performance and inspire other staff to work harder and earn their own rewards too.
What rewards work best?
Within the technology sector, customers will have specific interests and even specific brand loyalties. The same can be said for sales staff, and this is what makes the choice of reward so important.
You need to inspire and motivate your teams for their efforts. This could take a number of forms:
- Smaller rewards such as vouchers
- Tech-based prizes such as the latest phones, tablets or games consoles
- Travel rewards. Perhaps going to major trade shows such as CES in Las Vegas, E3 in California or visiting the factories and head offices of major brands across the globe
Some rewards work as an individual thank you for consistent performance, while larger awards such as a trip are perfect for rewarding a large number of people. Larger rewards can also help staff stay engaged and knowledgeable about an industry through getting insight into the next technological developments to hit the sector, for example.
This knowledge can then be passed onto customers, further reemphasising the knowledge of your team and capitalising on the reward you’ve provided.
Helping you make the most of your sales incentives
Different sectors will benefit from different types of incentive. This could be differences in what is tracked, to the rewards themselves and the frequency with which they are given out. Incentives need to be carefully thought out to find the best ways to engage and motivate your staff.
At CR Worldwide, we quickly design, launch and optimise powerful incentive programmes that drive increased sales in your business. Our sales incentive schemes are:
Easy to implement — Our turnkey MyRewards platform can be tailored to suit your requirements, from industry sector to the type of sales incentive you run, meaning you can be ready to implement sales incentive schemes fast.
Easy to use — Our platforms are made to be straightforward, so your staff can easily work towards their targets and the rewards up for grabs, and see their daily performance and compete with their colleagues.
Easy to manage — Our programmes offer real-time reporting in participation with ROI and budget management. This makes managing, organising and tracking your team’s performance and the value of your incentive schemes simple.
We’d love to excite, engage and inspire your staff with our sales incentive schemes. To speak to a member of our award-winning team: