Competition between companies: an undeniably daily fight. As a result, you need efficient salespeople, committed and motivated to keep making money despite a difficult economic context. A simple way is to put in place a relevant bonus scheme to increase the sales performance of your sales team. Tips.
USE GOOD PRACTICES TO INCREASE COMMERCIAL PERFORMANCE
The experience of other companies can benefit you. The best companies, those with excellent turnover, adopt some good practices that they apply to their sales teams.
Set up a team with seniors and juniors
When you think about it, the result can only be convincing is not it? Why? Because senior sales people have the experience, the network and the keys to continue developing the business. They can help junior salespeople perform better. Seniors could also receive a coaching bonus for the time they spend training juniors. A guarantee of motivation to invest even more in this project.
Juniors are certainly more effective when it comes to finding customers via digital tools, surfing on social networks and using social selling to better explore. Through this mix of skills and expertise, a team composed of a senior and 2 or 3 juniors will sell more than another, composed only of salespeople of the same generation. A study by the Intergenerational Management Observatory published in April 2015 rightly indicated that companies creating learning opportunities between juniors and seniors were selling better.
Involve more the « top performers » of the company
The top performers of the company are often defined as the salesmen who sign the most business. Encourage them and encourage them to help underperforming salespeople. A simple request will not be enough. The article “Employee Engagement: Every Leader's Imperative”, from Meghan Biro, recommends including them in the company's overall strategy to build on their experience.
Put incentives in place to help salespeople become better with the support of your top performers. For example, it can be clever to create pairs on more complex sales between a top performer and a less experienced salesperson. You can also ask them to present practical tips for selling better or convincing prospects in group meetings. In return, all your sales people should be better paid, encouraged, and congratulated regularly for their hard work and efforts
THE QUALITATIVE TARGET BONUS : ANOTHER WAY TO EXPLORE
The data at your disposal mainly helps you to determine employee bonuses. Take the time to think of other ways to boost the business performance of your business. The qualitative goal bonus is a great way to motivate your teams.
Establish an efficient incentive compensation scheme
Depending on the expected objectives, define a motivating incentive compensation scheme. This may be a bonus that you pay based on the number of goals completed or achieved. This bonus is more commonly referred to as the qualitative target bonus. Indeed, it is established according to a process with mandatory steps for your collaborators. This will help the salesperson in the implementation of its action plan and increase its commercial performance. The challenge of this method is to have upstream steps well defined and measurable downstream in an objective manner. These steps are stages of the process where we can judge the quality of the collaborator. The main goal is to push the commercial to follow a path that will lead to performance.
Take advice from our incentive compensation blog or you can contact our experts in variable pay compensation to assist you in setting up your device. They can help you calibrate the scheme of this bonus by taking into account your business issues.
Revised your targets or those of your team
A study from the Dominican University of California indicated that revising the objectives of a salesperson or a team could motivate them to work harder to achieve them. Define new objectives according to the news, taking into account deadweight effects (ex: your main competitor goes bankrupt).
