How successful a business is can often come down to how well their staff are performing, particularly those in a sales team.
If you use a sales incentive rewards scheme for motivation, it’s important that you track how well the programme is working. This can help you identify ways to improve your incentive scheme, while providing you with statistical evidence of how effective it is for staff success and engagement.
With that in mind, here are some ways to track the success of your sales incentives, and some things to think about when tracking an incentive scheme.
Tracking sales numbers
One way to track the success of a sales incentive scheme is to analyse and compare the sales numbers it brings. There are many timeframes that you could use to do this. You could compare the success of an incentive that’s run during the summer, with an incentive that was run at the same time the previous year. Or you could compare the impact of incentives run mid-year with those that take place at the start or end of the business calendar.
You could also compare the sales impact of very short, intense incentive programmes, compared with those that run for three or more months. You could even take two consecutive months during a busy part of the year, run an incentive for one of those months and look at the additional impact it has.
Tracking sales like this can give you numerical evidence of whether or not they have increased as a result of an incentive. However, you should make sure you have thorough sales projections in place beforehand. You can then chart how much impact an incentive has had compared with how well you were projected to do as a business without one in place.
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Tracking staff engagement
While putting an incentive in place is a great motivation for many staff, it’s also important to track how much they’re actually engaging with the incentive.
Your staff may be performing well, but how can you tell how much of it is due to your incentive?
One way you could do this is by using a dedicated rewards platform, which serves as your business’s hub for staff recognition and performance tracking. Staff could log in to the platform daily to log each successful sale, for example.
Adding a sales target tool to a dedicated rewards platform helps give the user some focus on what they need to achieve. Including a leader board also encourages staff to improve their performance as they can see what they need to achieve to be in chance of winning a reward. With desirable rewards on offer, they’ll be focusing on how they can achieve this.
You can then look at things like how often staff log in, and how often they review their sales targets and check their daily, weekly and monthly performance. You can also check if and when they compare their sales with their colleagues’, such as when they look at the results of online staff performance leaderboards.
This means you can spot which employees are more engaged with your incentive scheme than others. You could then rework the structure of your incentive scheme to increase staff engagement or encourage your account managers to spend more time with the less engaged partners. For example, you could change the rewards you offer during your incentive in response to how well received they have been or provide Instant Points Vouchers as on the spot rewards to encourage better participation. Short term awards can also encourage others to engage with the programme if they know their colleagues are getting something and they are not.
Tracking and getting more from your staff
These are a fantastic way to increase engagement and help ensure staff take their targets to heart and are passionate about their roles in your sales team. For example, what if a staff member already performs well, frequently meeting their sales targets, but they don’t seem engaged or enthusiastic?
It might be that unengaged staff members don’t feel the incentive you’re offering is something that benefits them. If so, they might not feel the desire to push themselves and compete with colleagues to achieve even higher targets, which might make your incentive programme appear less successful.
To help engage these staff, consider letting them work towards winning a catalogue of rewards that they can choose from. Staff members can then push towards winning something they’re personally invested in, based on their likes and interests, and you can track their individual performance to win that reward.
Tracking the right staff members
If you put a sales incentive in place that’s designed to increase all your staff’s performance, it might not seem as successful for some staff compared with others. As mentioned, some of your staff might already perform consistently well, regularly achieving high sales targets and receiving good customer feedback. So it can be beneficial to track individuals on your team to understand the success of your sales incentives and engage them more.
You could also implement an incentive scheme and tier staff members based on the size of business or by country. Adding them into different user groups enables you to give different sales targets to achieve, that are attainable for that tier, rather than getting disheartened as the target is too unachievable. Using focussed incentives you can understand the success of a scheme by comparing their total sales numbers, like at the start and end of a sales campaign. You could also speak to them individually to see what positive feedback they can give about the incentive to understand if has helped them and been successful for them, compared with how they felt about things previously.
Helping you make the most of your sales incentives
Tracking your staff’s performance is one way to make the most of an incentive scheme to help drive your sales, improve employee performance, and increase revenue within your business. A successful incentive scheme can lead to long-term benefits for your business, so getting yours right is crucial.
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, 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: