Frequent rewards help keep enthusiasm at peak

The challenge here is to generate additional 'stretch' performance from a salesforce that has already produced impressive results through two challenging years.The program must be structured in such a way that a high level of enthusiasm and selling effort is generated...

The challenge here is to generate additional ‘stretch’ performance from a salesforce that has already produced impressive results through two challenging years.

The program must be structured in such a way that a high level of enthusiasm and selling effort is generated and maintained throughout the year.

Therefore, we recommend a structure with monthly, quarterly and annual components. The quarterly and annual programs will be presented first.

Quarterly and annual objectives will be established for each sales rep based on his or her past performance, plus a realistic ‘bump.’

One section

Each quarter, the sales rep would earn one section of a four-part trophy for achieving his or her objective.

The trophy would be designed in such a way that regardless of the number of sections earned, it appears complete to anyone other than another sales rep.

This honor and recognition vehicle would be respected and valued by your sales reps because, despite their high incomes, honor and recognition is something your sales reps cannot buy.

A sales rep displaying the trophy on his or her desk, complete with all four sections, will experience the feelings of increased status among his or her peers.

An effective award opportunity combines recognition and personal indulgence.

Therefore, we recommend the quarterly program also include the opportunity to earn Exclusively Yours Cheques.

This would be structured in plateaus to reward sales reps for exceeding their quarterly objective. The greater the achievement, the larger the reward.

The maximum earnings would be $1,250 in Exclusively Yours Cheques per sales rep, per quarter. This number is equivalent to 5% of your participant’s annual income.

Exciting change

Given the traditional means of motivating your sales reps (cash), they will certainly find Exclusively Yours an exciting change.

Cheques can be redeemed for their choice of a wide range of merchandise awards, or for travel experiences anywhere in the world.

There are even such options as a baseball fantasy camp, a race car driving school, flying lessons, safaris, and many others.

For achieving their annual objective, sales reps and their spouses will experience the recognition of your company’s top executives while on a group travel award.

Again, this is an award your sales reps cannot buy. Nothing builds relationships and memories more than a group trip to celebrate success.

The camaraderie that results is a valuable asset to your company and a source of pride for each winner.

Trip fund

We are allocating $4,000 per couple for the trip, which will provide a top-quality destination and program of events.

Now that the quarterly and annual programs have been covered, we want to present a recommendation for monthly promotions that will help ensure the achievement of your quarterly and annual sales objectives, and address the issue of sales rep morale.

‘Break The Bank’

We recommend a structure called ‘Break The Bank.’

Each month, $5,000 in Exclusively Yours Cheques would be ‘deposited’ into an awards bank. Any rep making a sale will earn a ‘withdrawal’ in the amount of $500 in Exclusively Yours Cheques.

After 10 sales ($500 X 10) the bank goes ‘bust’ and is not replenished again until the next month. It is ‘first come, first earn.’

‘Break The Bank’ is highly effective at creating excitement and selling effort. With a new ‘Break The Bank’ each month, you will be able to generate the excitement and enthusiasm your sales reps will need to sustain their high level of efforts throughout the year.

Budget

On an investment basis, assuming a full 90% of your sales reps achieve all quarterly and annual objectives, and including the monthly ‘Break The Bank,’ we have used slightly more than $200,000 of your budget.

We recommend allocating an additional 20% or $40,000 for a kick-off meeting, communication materials such as an announcement and follow-up mailers, and administration to include progress reports for you, your sales reps and management.

Rob Follows is president of Maritz Canada, a performance improvement company with offices in Toronto, Vancouver and Montreal.