Many organizations think of their sales incentive programs as a static entity. Once designed, the programs often are not reviewed and updated regularly. As a result, there are increasing challenges to validate the programs’ performance or improve ROI. This is particularly true when designing incentive programs to motivate direct sales teams or independent channel partners, including dealers, distributors and resellers. Without intending to, sales managers may be ignoring simple ways to maximize ROI from their incentive programs—without increasing their existing budgets.
Insights from our own Craig DeWolf were recently published on this topic in the May (print-only) issue of Selling Power. In the article, he provides best practices for organizations to consider when managing their sales incentive programs. He also shares how to better motivate your sales team or partners, meet KPIs, quantify ROI and meet your sales goals.
Here’s an excerpt: