Sales Incentives

11 Incredible Sales Incentives That Aren’t Cash

Did you know that monetary rewards aren’t as successful at motivating people and encouraging different behaviours as non-cash benefits are? Hence, it’s past time to go beyond monetary sales incentives and consider other ways to show your appreciation for your sales team.

Sales incentives were once thought to be associated with cash incentives. Bonuses, salary increases, and commissions are commonplace. Even non-monetary incentives, such as promotions, are kept formal.

Cash-based incentives, on the other hand, are more often perceived as a commission cut than a recognition measure. As a result, sales representatives often experience high turnover, burnout, and even low levels of interest.

Receiving appreciation from one’s place of employment is an important requirement for employee loyalty. Non-monetary incentives are used in this case to reconcile the need for recognition with the requirement to improve performance.

Top Amazing Yet Non-Monetary Sales Incentives

The sales manager must respect their employees’ bottom line to encourage their team.

Your salespeople anticipate pay that reflects the amount of effort they put into closing the deal. Cash incentives, on the other hand, do strike that sweet spot, but they are rarely helpful in retaining sales staff over time.

  1. Luxe diner experience

Your sales staff may find luxury to be an excellent incentive. An exclusive night of good eating, costly wine, and a 5-star experience with the company’s CEO and other channel partners can be used to reward great sales achievement. Being in the company of industry giants can make the winner doubt their achievements.

To summarise, make it an amazing experience that drives salespeople to give it their all to succeed.

  1. Team Outings

Getting out of the office, even for a few hours, is a huge morale booster for any salesperson.  In essence, a team outing serves two purposes. For example, it’s a great idea for sales incentives because it’s inexpensive, entertaining, and helps individuals to relax.

Second, team members have the opportunity to get to know one another outside of work. As a result, team harmony is reinforced, which is eroded owing to the high level of competition that a sales force encounters. Plan exciting activities to make the event more enjoyable. Furthermore, provide the sales team the option of selecting their preferred destination.

The sales process is exceedingly competitive, fast-paced, and stressful. Hence, compared to a regular office worker, the sales representative is at a higher risk of possible disengagement and burnout.

  1. Time off

Your sales staff, more often than not, requires a better work-life balance and an opportunity to realign themselves mentally. Giving them compensated time off is one of the most effective non-cash benefits you can deliver.

Staff who is well-rested are more productive, happier, and can produce greater long-term results. Furthermore, these are short-term benefits that can be seen right away.

  1. Gift cards

Gift cards provide your sales staff the flexibility and convenience of selecting the rewards they want. Gift cards are also simple to store, distribute, and manage, making them an excellent form of incentive.

Giving a gift card is similar to giving a gift of an experience. Employees might get a gift they’ve always desired or go on a shopping trip with their family. The wide range of items available for purchase adds to the allure.

  1. All Paid Vacation

An all-paid holiday for your top sales representative is a good way to show your appreciation for all their hard work each day. Take the staff’s suggestions for where they want to go on vacation and offer them the opportunity to bring an extra person along.

  1. Wellness Gifts

Salespeople’s work-life balance is precarious, which has a negative impact on their overall health. In short, both have a significant impact on mental and physical health.

Providing wellness-related incentives to sales personnel, such as gym passes, meditation app subscriptions, nutritious food hampers, and more is a smart method to combat these issues.

Must Read: How to Create, Measure and Maximize your “Sales Incentives”

  1. Gadgets of the highest quality

Vibrant and trendy gadgets are a much-desired opportunity that everyone would enjoy. Sales managers might employ specific products, such as Apple gadgets, to accomplish crucial sales targets or quotas.

Furthermore, the sheer number of options is overwhelming. From smartwatches to high-definition televisions, headphones to laptops, each electronic category provides a wide range of options.

  1. Services for Self-Care

There may not be enough time for the sales team to take care of themselves. Self-care is about more than just physical well-being; it’s also about mental well-being. Providing self-care amenities like a golf course pass, painting courses, spa days, or even concert tickets is a thoughtful gesture.

  1. Best-In-Class Essentials

Because salespeople spend so much of their time in the office or on the road, make sure they have access to the best essentials to help them perform better.

Digital organisers, customizable workstations, ergonomic chairs, quick snack alternatives, and free lunches are just a few of the options for creating a comfortable and convenient office experience for your staff.

  1. Learning Compensation

Every employee aspires to grow both professionally and personally. Covering the expense of tuition for any training or course is an excellent way to recognise an employee while assuring that the learning curve never ends.

As new technologies emerge, ensuring that your employees continue to upskill regularly will benefit you in the long run.

To Sum It Up

Sales incentives are an important part of the sales process since motivation is needed for success. So, which sales incentives does your company use to show appreciation for its salespeople?

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