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Clearly, new strategies alone aren’t enough to motivate a sales team. According to behavioral intelligence (BQ), it’s all about how you motivate your team. You see, BQ has found that motivation is a trigger for thoughts… which cause feelings… which yield action. Sure, these are all key motivators for your sales reps.
But if you need a salesperson who has had success selling expensive products or services to CEO''s amid a tremendous amount of competition and you need this person to both find and close new business, then you are describing a salesperson who would expect a compensation plan to pay them in excess of $125,000 and as much as $250,000.
It involves convincing potential customers to purchase products or services, and it plays a vital role in driving revenue and growth. It requires individuals to possess a high level of motivation to succeed consistently. Understanding the Significance of Sales Motivation 1.1 Key Factors Influencing Sales Motivation 2.1
Most people think that the key to employee motivation is giving performance-based raises. But this common motivation tactic doesn't actually do much, according to a Harvard Business Review article that detailed the findings of an analysis of 120 years of previous research. More money does not equal more motivation.
A sales incentive is a reward/compensation (cash or non-cash) that’s given to a salesperson for performing up to a level, mainly for selling a particular amount of goods or services. In simple terms, sales incentives are something that motivates your team to wake up in the morning and get to work. 7 winning sales incentives ideas.
Identify the teams that need to change, and plan how to motivate them into the destination. If you do it correctly, you’ll reap many rewards, intrinsic and extrinsic. What political support is needed to ensure change efforts move forward? Which stakeholders do you need buy-in from? What will be your timeline and communication plan?
For example, a visionary leader would explain to their team why they should be hitting their sales targets , and would also ensure that outcomes are tied to intrinsic motivation. By contrast, a typical sales manager would most likely use extrinsic methods of motivation, enforcing and reinforcing the carrot-and-stick approach.
Image Credit: Out of Service. (If We like to think that part of the great outcome of having these shared values is that we're excited and motivated to come to work together each and every day. The yin and yang of intrinsic versus extrinsic. If you’re curious about these, you can try this online test to see how you score.).
At low incentive levels this increased motivation pays off. However, at some point increasing the incentive and thereby motivation even further, starts to backfire: we perform (a lot) worse. It does however apply to both economical and social incentives (‘social motivators’).” (via We do perform better. via Wheel of Persuasion).
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