The A-Z of Sales Incentives
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This document provides an overview of the essential elements of a successful sales incentive program, including assessment, buy-in, communication, engagement, design, structure, rewards, and measurement. It discusses the importance of assessing goals and objectives, gaining leadership and management buy-in, communicating frequently with participants through various channels, engaging participants through training and gamification, designing the program structure and rules, offering appropriate rewards, and measuring results. The document aims to educate on best practices for incentive program design and implementation.
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The A-Z of Sales Incentives
- 1. The A-Z of Sales Incentives Scott Siewert DVP, Sales USMotivation Amie Foster National Accounts Manager, Retail IVC Group
- 2. OK, WE CONFESS. It’s not really A through Z. That would take forever. …and this would happen.
- 3. Today’s lesson: Essentials of a successful sales incentive program (Not in alphabetical order!) download of A-Z eBook at end
- 4. The facts. In other words, incentive programs work.
- 5. A is for Assessment • goals and objectives • current situation/gap analysis • sales/channel team and compensation structure
- 6. B is for Buy-in Leadership buy-in: • supports program • approves funding Management buy-in • ensure they are operating the program correctly How • case studies • white papers/eBook • financial analyses • testimonials
- 7. D is for Design • program goals and structure • budget and length • program type and rules • type of rewards • communication and measurement
- 8. C is for Communication • frequent and compelling • motivates participants • find them where they live (mobile, social, email, etc.) program websites
- 9. virtual environments email campaigns mobile communications
- 10. E is for Engagement Engagement is essential! • training and support • spiffs and promotions • gamification • award choice • dashboards, standings
- 11. What types of rewards are you using in your incentive programs: 1. Travel only 2. Merchandise only 3. Gift cards 4. Mix of the above 5. Cash only
- 12. P is for Program Types • Points • Online • Sales • Dealer/Channel VARs distributors wholesalers retailers redeemable for rewards web-based programs, typically with catalog direct manufacturer distributor distributor retailer retailer retailer
- 13. S is for Structure • target audience/product • who can participate • volume/value thresholds • individual or team goals-or both • open/closed-ended, plateau • tiered incentives Structure establishes rules
- 14. R is for Rewards • Travel Incentives • Merchandise • Gift Cards • Events/Experiences
- 15. M is for Measure • determine metrics • automate reporting • calculate ROI • communicate results • analyze and modify
- 16. Class Dismissed! Thank you for attending! usmotivation.com
Editor's Notes
- Explain we have a more comprehensive eBook at the end. This is a summarization.
- The webcast will cover essentials of the A-Z in chronological order of a real incentive program, so the letters will be out of order. Here’s a library card to access the eBook later.
- Scott: snapshot of industry. Banter with Amie about this.
- Talk about assessing the client situation first and how we do this.
- Before starting any program, you need leadership buy-in to support it and managers (program administrators) to buy-in and use and the program.
- Discuss components of program design. May add area with RPI best practices…?
- The picture is an embedded slide show of some communications work. Can we use this in InXpo? Do we have IVC creative to show?
- Survey the audience.
- Discuss different types of programs. Here’s where Amie can talk about IVC’s program, why they did it, how it works, etc.
- Discuss key points of program structure and rules.
- Discuss rewards, choice, how you can redeem points for them. Why cash is bad, etc.
- Discuss types of metrics, reporting (with online system) and ROI.