4 Important Questions about Incentivizing Your Team to Use a New Sales Technology Solution
Here are three important facts. One, sales incentive programs are becoming an increasingly integral part of many overall sales strategies. Two, for many companies sales technology adoption is very low. Three, poor adoption leads to an incredible amount of wasted time, money, effort, and resources. Put all that together, and it is clear companies have a lot to gain from learning how to harness the power of sales incentive programs to boost sales technology adoption
4 Big Questions about How to Gain Sales Tech Adoption through Incentive Programs
1. Does Our New Sales Tech Require a Sales Incentive Program?
If you’re implementing a new piece of sales technology, it’s always critical to have adoption. Poor adoption means the solution just sits on the shelf, and that hurts your company in two ways. One, you’re out the licensing fee or purchase price of the solution, and two, you aren’t seeing the financial benefits of that solution.
As a standalone, sales incentive programs are never going to be the full answer. They’re part of a much broader sales technology adoption process, but used in conjunction with a strategic tech selection and implementation system, sales incentive programs can be a great way to motivate your team to use a new sales technology solution.
2. What Kind of Sales Incentive Programs Are There?
Sales incentive programs run the gamut from purely monetary rewards to nonmonetary incentives.
Monetary rewards could include the following:
- Check or cash
- Salary bonuses
- Gift cards
Nonmonetary rewards might entail items such as these:
- Public recognition
- Group experiences, such as concerts, dinners, or sporting events
3. Which Is Better: Cash or Non-Cash?
The hardest part about these programs is that there is no one-size-fits-all solution and no easy answer to the cash-or-not-cash conundrum. Every company is different, and even beyond that, every individual within the company is different. Some people are motivated by cash; others are drawn to public recognition. Some live for gift cards; others just want preferred parking.
Whatever your reward structure looks like, it’s critical to keep your end goal in mind: maintain the enthusiasm, excitement, and motivation of your team—even after the incentive program ends. Too often companies see tremendous adoption and motivation while the program is running, and then there’s a precipitous drop when the rewards are off the table.
Cash, for example, can be a great initial motivator, but it doesn’t always inspire the desired behavior after the incentive has been removed. For a more detailed look at how to incorporate non-cash incentives and some of the benefits of that approach, check out this article.
The good news is you don’t need to be a mind reader to get this right. Just ask! Interview your employees to determine what they want to see as rewards and what they find personally motivating. (Remember, personalization is key here!)
4. What Technology Solutions Can Help Us Manage Our Sales Incentive Programs?
Billions of dollars are spent every year in the sales incentive solution market, and there are a number of players in this space, including the following:
The right solution for you will depend on numerous factors, including your stakeholders, goals, budget, and existing capabilities. (For a breakdown of how to approach sales technology selection in general, read through our discussion of the importance of a digital strategy before committing to any technology.)sales
Interested in learning more about incentive programs and sales technology adoption? Want to hear advice and insight directly from industry experts? Check out our free on-demand webinar: How to Boost Sales Incentive Programs in 2021 for Maximum Results and ROI. To get even more information about this exciting and evolving space, watch today.