There are two types of rewards in any incentive program. One is expected rewards, given out for achieving sales goals or completing projects. The other is unexpected rewards, given spontaneously for on-the-spot accomplishments. Both types have their place in any healthy sales incentive program, but unexpected rewards are often pushed to the wayside by program [ ] The post The Psychological Power of Unexpected Sales Incentives appeared first on Loyaltyworks, Inc..
Many people managers debate the merits of cash or non-cash incentive rewards. Which motivates people more? What moves the needle? And which is the most cost effective? Well, according to at least one recent study, the answer isn’t cash. Surprised? Read on to find out why. Cash vs. Non-Cash Rewards: What’s the Difference? First, it’s [ ] The post Which Is Best? Cash or Non-Cash Incentive Rewards? appeared first on Loyaltyworks, Inc..
The element of surprise is incredibly effective when it comes to motivating sales employees. And it’s not just because surprise incentives are fun. Scientific studies have shown that unexpected rewards tap into parts of the brain connected to learning and motivation. So how can you use this fact to your advantage in your sales incentive [ ] The post Motivating Sales Teams with Powerful Incentive Psychology appeared first on Loyaltyworks, Inc..
A comprehensive sales motivation strategy isn’t always easy. Your salespeople might be bringing home the gold or losing their heads under pressure. Some may be motivated by travel incentives, while others value hard-earned, tangible trophies over cash rewards. With so many different personality types in any given sales team, it can be tough to know [ ] The post Using Game of Thrones to Understand Sales Motivation appeared first on Loyaltyworks, Inc..
If you manage or work with a sales team, you’re probably familiar with the 20-60-20 theory: the idea that sales employees can be sorted into negative laggards (20%), average performers (60%) and star performers (20%). With those different performance levels come different personalities and sources of motivation. That being said… thinking of salespeople in terms [ ] The post A Game of Thrones Metaphor to Help You Motivate Salespeople appeared first on Loyaltyworks, Inc..
Effective channel marketing management is hard to come by, especially in the start-up and small business environment. Part of the reason is these folks have great ideas but no clue as to how they should be marketed. The result? Around 90% of new startups will fail. Yeesh! Before you panic, take a deep breath. We ve [ ] The post Unraveling the Mysteries of Channel Marketing Management appeared first on Loyaltyworks, Inc..
Common wisdom says that sales employees can be sorted into three groups: laggards, average performers, and star performers. Let’s make things fun and nerdy by likening these types of salespeople to the royal, warring Houses in HBO’s Game of Thrones: Greyjoys (laggards), Starks (average performers) and Lannisters (star performers). Sales teams can be split up [ ] The post Motivate Sales Employees, Game of Thrones Style appeared first on Loyaltyworks, Inc..