Just Getting Started With An Incentive Program?

Are you new to sales incentives? Or maybe you've been involved in corporate programs in the past, but now you're looking to run a program on your own for your region or zone. Click here for next steps.

Regardless of how big or how small your program will be, there are certain elements that are critical to any sales incentive program. Maritz Motivation, our parent company, founded the sales incentive industry over 75 years ago. And while times, people and technology have changed, the core design of a successful sales incentive program has remained constant.

Here Are Nine Considerations Essential to Your Program’s Success:

Step 1: Establishing Objectives/Rules

What are you trying to achieve? Needs to be short, specific and attainable. (e.g. sell “x” number of a specific model) Click here to download Rewards Direct by Maritz Suggested Rule Structures

Step 2: Outlining the Strategy

Who is the target audience? What is the length of the program? When will the program operate? (e.g. Sales Managers and Sales Associates, three month program covering July-September)

Step 3: Measuring Performance

Identify specifically what will be measured. Keep it fair and obtainable. Leverage historical data. (e.g. unit sales versus same period last year)

Step 4: Establishing a Budget

For a sales incentive program, 5-10% of projected incremental sales increase should be applied to the total program investment. Incentive rewards should equal 5% of total compensation for the program period.

Step 5: Allocating a Budget

80% of the total program budget should be allocated towards rewards, with the remaining 20% covering “fixed costs” (i.e. communications, administration, tracking and reporting, etc.)

Step 6: Selecting the Perfect Rewards

Rewards must be personally meaningful, memorable and motivational. Rewards Direct features purposefully chosen rewards designed to inspire and engage your participants. Browse our catalog now.

Step 7: Administering the Program

A small part of the budget but a huge part of any program’s success. Performance must be measured, with timely feedback provided.

Step 8: Celebrating Success

Top performers and personal/program milestones should be acknowledged and celebrated throughout the program and at program end.

Step 9: Analyzing Program Success

Were objectives met or exceeded? Were participants motivated? How can this program’s success be leveraged for future programs?

Actually, There’s One More!

At the core of any successful sales incentive program is an impactful, engaging and strategically planned communications campaign. Your message needs to be communicated clearly and frequently:

In the Beginning - to announce the program and generate awareness and excitement
During the Program - to keep enthusiasm high and to provide feedback on progress
At Program End - to celebrate success/goal attainment and recognize performance

In short, your program communications need to:

Drive enthusiastic commitment and participation from your participants
Break through information clutter to call attention to your message
Relay a clear call-to-action
Constantly remind participants about "what's-in-it-for-them" - fantastic rewards!
Provide meaningful feedback on progress and goal attainment

The worst thing you can do is launch your program with a lot of hoopla and then cross your fingers and hope for the best. Ongoing communications - at least once per month for 6-12 month programs and weekly if possible for shorter duration programs - is essential to keep your goals top-of-mind and drive results.

So What Now?

Rewards Direct by Maritz can assist you with any or all of the critical elements necessary to design and implement your program.

If it's just rewards you need, browse our catalog now which includes more than 200 top brands in every major category that can be filtered to reflect your program's needs.

And if you still have questions, just contact us. A marketing representative will be happy to help. Here are a few bits of information to have ready when you call:

Program objectives
Target audience
Number of participants
Timing of program
Program budget