Wise company owners understand that the only constants in business are taxes and change.
The pace of that change has accelerated throughout this century. Advances in technology and shifts in culture drive innovative transformations in how companies develop loyalty and boost staff performance.
We work with companies trying to stay ahead of the curve in marketing and sales incentives. Tampa FL clients and those throughout the region trust H’ John Mejia to create marketing and sales plans that earn results.
They also appreciate how we put our intimate knowledge of this field to work for them.
Our team has compiled for our clients a list of trends in company sales incentives to watch over the next year.
A More Strategic Approach
Traditionally, incentive programs are developed in house. Oftentimes, companies shape them by trial and error over time. This can result in inconsistent, less effective, and even seemingly contradictory compensation incentive programs.
Efficient and fair delivery of sales compensation creates a better base with which to foster the best-producing sales teams.
Taking a strategic approach also involves incorporating sales information into a single, easy-to-access system. Such a system can gather all relevant data and even pinpoint trends that human professionals might miss in a search for better sales information.
Today, data drives the creation and adjustment of the sales big picture. Incentives that dovetail with sales successes and knowledge will maximize results.
Many of these incentives focus on getting the most bang for the buck. Many also create stronger loyalty between the company itself and sales representatives.
Increased Focus on ROI
Companies in competition need to enhance efficiencies wherever possible.
One of the best ways to develop more efficient operations lies in analyzing return on investment, or ROI.
In our experience, clients who focus on ROI have a better handle on creating efficiencies throughout their operation. They stick to programs and techniques that boost their business and avoid or outsource those that do not.
ROI in sales incentives works in the same way. A company determines with data and analysis which incentives drive the most sales with the least cost to the company. Leadership then implements incentives that have the largest likelihood of bringing successes with the highest net profit.
Today’s advanced artificial intelligence systems (AI) can help companies sift through information to determine what works best. Then they can incorporate best practices into the overall plan.
Adding Experiences to Perquisites
Sales incentives traditionally incorporate a number of perquisites ranging from bonuses to preferred access parking spaces.
A recent survey indicated that there are three major reasons why employees love their jobs. Surprisingly, training opportunities served as the number one answer, followed by money and then travel.
Many companies have found that selected travel opportunities provide a huge incentive with a high return on investment. These can include off-site trainings, team-building opportunities that include amazing experiences, and more.
The most popular offerings combine team experiences with opportunities to make fun memories and friends that last a lifetime.
Companies will continue to strive for ways to use sales incentives as tools to both boost results and enhance sales staff loyalty to the company.
Reach Out Today
Learn more about our innovative approach to marketing and sales. Our staff will be happy to answer any questions about our services and also to schedule an appointment for a consultation.
Prepare to see your sales shift into overdrive with our powerful support systems and staff.
Contact us today to get started.