The A-Z of Sales Incentives
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A-Z: key things you need to know about implementing a sales incentive program.
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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
Hinweis der Redaktion
- 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.