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Cash vs. non-cash rewards: Which works best?
Ask most employees what motivates them to do a better job, and you’ll probably hear “cold, hard cash.” Not necessarily. Recent research shows: It’s not actually true. Despite what people (and HR) may...
View Article3 no-cost ways to keep people driven to boost revenue
The key to any good incentive isn’t what it costs, but how it impacts performance. With that in mind, here are three incentives that boost motivation without breaking the budget: Hold success story...
View ArticleStudy reveals the top 4 reasons buyers remain loyal
Nothing motivates buyers to buy more — or more often — than these four emotions, according to a recent study: Protection: How strongly do you guarantee each buyer’s investment? How do they know they’re...
View ArticleA compensation strategy that maximizes profits
In sales and marketing, there’s no greater motivator than money. With that in mind, here are a few ways to adjust your comp strategy so it energizes your workforce and sends revenues soaring: Base...
View ArticleRead the fine print on your rewards programs — often
A lot of execs are enrolled in travel or credit programs that reward them with points for constant use. But you have to keep a close eye on changing terms and conditions to make sure you don’t lose...
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This management skill leads to 27% higher profits
A Gallup poll confirms there’s one common trait that overshadows all others when it comes to effective leadership. That trait: employee engagement. According to Gallup, companies with employees who...
View ArticleThe top 10 ways to build loyalty, long-term customer relationships
Repeat business is the foundation of a positive revenue stream. With that in mind, here are 10 strategies salespeople can use to cement their bond with buyers, and, ultimately, boost sales and loyalty....
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Salaries on the rise: Should your company boost them too?
Companies nationwide expect to increase salaries at an average clip of 2.8% in the year to come, according to a recent study. While that’s still well below the 4% average increases companies were...
View Article3 sales strategies that flounder in today’s economy
Today’s sales managers need to get a bit more creative if they expect to keep their closing rates high. It’s a buyer’s market out there, in which sales managers either have to aggressively pursue top...
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6 win-win incentives that boost morale, sales
The most effective rewards are those that help both the company and its salespeople achieve their goals. Here are six examples of win-win incentives top managers use to keep productivity at a fever...
View Article6 sales contests that deliver results, revenue
Here are six proven contest ideas that give everyone a chance to shine, while creating a positive buzz that translates into sales. The MVP award: Every month, name an MVP. By letting salespeople vote...
View ArticleWhy salespeople avoid referrals (and what you can do about it)
Time and again, research has proven referrals are the best way to close more high-probability prospects. So why do salespeople constantly avoid asking for them? A number of studies confirm salespeople...
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How to develop a comp plan that maximizes sales, satisfaction
It’s the age old question: How do you build a compensation plan that encourages salespeople to close deals for the right reasons? The answer, according to Wharton management professors Adam Grant and...
View ArticleWhat types of incentives get results?
It’s the age-old question: How do you develop an incentive program that encourages people to increase their productivity without taking shortcuts? The answer, according to Wharton management...
View Article5 steps needed to reach peak performance
A recent study reveals a significant challenge facing most of today’s companies, as well as a five-step solution for overcoming it. The study, conducted by McKinsey & Co., found that inside...
View Article5 ways to maximize the ROI of any buyer rewards program
At its core, a customer rewards program is set in place to achieve these overriding goals: Engage loyal buyers on a regular basis, by providing incentives for them not to take their business...
View Article3 proven ways to absolutely shatter sales goals
The percentage of salespeople who met or exceeded quota last year jumped 9%. Here are the proven tactics which drove that remarkable spike: 1. Tying rewards to company goals. More than a third of...
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