Before you closed Q4, you ran your last sales contest, crowned your top sales rep and hopefully met your quarterly and yearly goals. Now, the holidays have passed and it’s time to execute on your plans for the new year. Likely included in your strategy are a few sales contests to help you hit your numbers. But when it’s time to add incentives to those upcoming contests, just how many trips to Vegas can you fit into your budget? Or are you planning to recycle some of last year’s prizes?
When it comes to sales incentives, we’ve seen what works. Oftentimes, it’s the simplest incentives that have the biggest impact. Following is a list of 14 sales incentives, most of which are client inspired and all of which will motivate your sales team without breaking the bank.
Job-related Incentives
These are the kinds of incentives that are related to your team’s daily work responsibilities. Aside from the obvious fact that they are great motivators for your sales reps, they also can help to improve workplace efficiency and boost employee satisfaction.
- A half-day of work. Sure, there’s a cost to a rep being out of the game for a half-day, but chances are they will return to the job refreshed and ready to hit the ground running. Remember: For many, creativity can spark from stepping away.
- A team-wide email string where everyone sends along funny celebration gifs. Completely free, and downright hilarious, this incentive is sure to enhance company culture. (Not sure where to find .gifs? Check out this .gif finder.)
- The chance to take a two-hour break from work to watch any movie which management will bring in, along with some popcorn. A mid-week matinee is sure to inspire some team bonding.
- A promise that someone in leadership will sing one song over a channel that everyone can hear, like a conference call or Google Hangouts. Looking for a way to make your higher-ups seem more accessible? This incentive is a great conversation starter and can help build team camaraderie.
Tangible Incentives
Tangible incentives have a clear dollar value. When it comes to these, the key is to offer something your team members probably don’t have and wouldn’t buy themselves.
- Milk and cookies. This client-inspired idea consistently gets a positive response. Whether the cookies are homemade or hand delivered, it’s hard to refuse such a sweet deal.
- A unique "winner's chair" that replaces an employee’s normal desk chair. Your reps may watch Game of Thrones, but doubtful they’d actually treat themselves to one. And that’s what makes this one great.
- WWF wrestling belt. We’ve found that reps are pretty highly motivated by the chance to score some bragging rights. What better validation of their prowess in the sales ring?
- Figurines. Every day at LevelEleven, our reps duke it out in a cold-calling competition. Then our Macho Man action figurine finds his home on the winner’s desk for the day, plucked right from yesterday’s champion.
- A giant set of bullhorns. Yes, bullhorns. Sometimes the more ridiculous the prize, the more fun the competition becomes.
- A plaque, engraved with the contest name. Talk about upping bragging rights. This is concrete recognition of your reps’ hard work.
Experiential Incentives
Offer an experience as incentive, and you’ll make a lasting – and motivating -- impression. Unfortunately, this type of incentives can also be the most costly. The good news? You can still reward top performers and encourage bonding between team members with these, and keep it all within budget.
- A manager-led car wash. This reward reminds your reps that everyone has to roll up their sleeves. Plus, you can make an event of it when you throw in a few beers and maybe even a barbeque on a sunny afternoon.
- A prime parking spot that everyone else has to walk by. A little less team oriented, this incentive really highlights your top performer and motivates other reps to kick it up a notch the next time around.
- Lunch with the company president. Breaking bread with the company’s leadership gives your top rep a feeling of recognition and a confidence boost to keep up the hard work.
- Sandwiches and beers at the team's favorite hole-in-the-wall bar. This is being offered at LevelEleven right now -- our team is working toward delicious chicken shawarmas and beers at our favorite Detroit restaurant.
Sales incentives like those above aren’t mandatory. Competition and recognition offer serious motivation on their own. That being said, if you do choose to start the new year fine-tuning your sales incentives you’ll only be further capitalizing on your reps’ inherently competitive nature. And that fine-tuning doesn’t have to translate to making room in your budget. In fact, you’ll be surprised at just how much motivation you’ll see, thanks to these simple, inexpensive incentives.
Bob Marsh is CEO of LevelEleven, a sales gamification and CRM solutions company, with the #1 most popular gamification app on the Salesforce AppExhange: Compete. Bob has almost 20-years experience in sales management. Follow Bob on Twitter @BobMarsh5.