Source of Infographic: SalesForce
How To Motivate Sales People
Particularly within the industry of sales, it can at times be hard to keep employees motivated. However, it can be very beneficial to both the employers and the employees when success is recognized and rewarded in the work place. By far, it is one of the easiest ways to get sales flowing. The following article describes the different ways you can recognize your sales people in your business.
First, know that money is not the only way to recognize sales success. While 39 percent of workers feel totally unappreciated at their jobs, 50 percent of sales people are less motivated by money than they were five years ago. 70 percent of sales people will leave a job due to a bad relationship between them and their manager. Sales force compensation is always the biggest marketing cost – 100 percent of the time – for all B2B companies.
Different Salesperson Types
Second, you should know and be able to recognize the three different types of sales people. Laggards make of 25 percent of your sales team. Laggards are the type of sales people who tend to need to be told everything. They are the ones that need more prodding and guidance in order to make their numbers.
Incentives for Core Performers
55 percent of sales people are Core Performers. They are the ones that fall more in the middle of the spectrum. They receive the least amount of attention, yet they are the group that is the most likely to succeed. However, there success depends heavily upon the proper incentives.
Handling Sales Stars
20 percent of your sales team are the Stars. These are those model sales people who are able to accomplish just about anything. The only thing that can stop these people from working is an imposed limit to their success and accomplishments, or at least those for which they will be recognized.
Third, you need to know how to tailor motivation to the different types of sales people. With Laggards, you will want to offer quarterly bonuses and apply social pressure. Core Performers will respond the best to things like sales contests and multi-tier targets. Stars deserve over achievement commission rates and no caps on pay in order to truly shine.
Fourth, you should really drive motivation with more than just money. Good managers usually drive revenue growth by at least four times the rate of badly rated managers. Recognition, coaching, incentives, knowledge and tools are the most valuable tools to a manager.
In the aspect of recognition, we see public recognition, team achievement, real time thanks, inspiring initiative and amplifying good habits as the best methods. These types of recognition will really boost your business by motivating your employees.
Here are some incentives ideas: multi-tier comp plans, career growth, money, team alignment and tangible rewards. Here are some ideas for coaching: Real time feedback, faster hiring, ride alongs, one on one coaching and shared goals. Here are a few ideas for knowledge and other tools: integrate with CRM, enforce discipline, be metrics focused, make a game of it and be social.
Lastly, always remember that you need to be genuine, be specific, know the right place and time and always remember to smile.