It’s a well-known fact that cruises and other traveling rewards make some of the most effective sales incentives. People love the excitement and recognition that comes with earning a paid vacation. But now that COVID has thrown the world for a loop, traveling is out of the question for the next year. So how can you keep your sales team and distributors motivated to continue reaching for their goals? Here are a few sales incentives examples that can keep your distributors working hard to reach the next tier of accomplishments.
Cash Prizes
Though it isn’t exactly a unique idea, rewarding your sales team with cash is an effective way to keep them hustling. Here are some of the pros and cons of offering monetary incentives:
Pros:
- A straightforward way to influence behaviors
- May be perceived as “fairer” than non-monetary incentive programs
- Does not require much thought or personalization
- Can be used as a recruiting tool
- Can boost morale
Cons:
- If used too frequently, may be seen as an entitlement instead of a motivator
- May be perceived as less meaningful or thoughtful than other incentives
- May not be as effective at motivating your sales team as nonmonetary incentives
It’s important to carefully weigh the pros and cons when considering whether to replace travel incentives with cash.
Prize Lockers
Prize lockers are becoming more popular, and it’s easy to see why. They add excitement and fun to the incentive process. Many people also prefer tangible rewards that provide a useful function, such as a branded sweatshirt or a duffel bag. The idea behind prize lockers is that employees can earn increasingly valuable clothing items or other promotional items as they reach certain milestones. For example, when a distributor rises from a Silver to a Gold tier, he or she can “unlock” increasingly valuable prizes.
Many companies choose to include branded merchandise and cash prize bundles in each tier. This is a great idea if you want to maximize excitement for your incentive program and appeal to all of your distributors. Offering quality merchandise and generous cash rewards for hard work can encourage distributors to keep reaching for the next achievement, even though travel rewards are currently off the table.
Incentive tiers are remarkably effective at motivating salespeople no matter what level they are currently at. They also make it possible for every distributor—not just the top achievers—to earn something. The idea behind tiered incentives is to make sure everyone goes home happy. Unlike contests that offer limited prizes to only the top earners, tiered incentives give everyone a chance to earn something, as long as they put in the effort.
Take a Poll
In the absence of travel incentives, you may wish to ask your sales team what types of rewards would interest them most. You can send out a poll to see how your sales team feels about receiving monetary incentives, or if they would prefer to earn nonmonetary rewards. Their feedback will help you determine what types of sales incentives examples to pursue.
Order Branded Prizes and Rewards
Branded merchandise makes a very effective incentive. To place a custom order or get advice for the best merchandise ideas to include in your rewards program, contact Vox MG today.
