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What is one goal that every business in Australia strives to achieve? Yes, the aim for most enterprises is to grow their customer base, thus improving the bottom line and establishing themselves as an industry leader. However, if the sales department isn’t working at 100% and striving for excellence, then any progress is going to be limited.
Is your sales team still hitting their numbers?
Like any area of your business, the sales team can struggle with motivation, performance and results – something that needs to be addressed sooner than later. Responsive business leaders should be able to spot these issues and implement the necessary changes.
While the numbers for every sales team will be different, there are some overarching statistics that don’t make for pleasant reading. According to statistics from Altify (sales platform), 67% of sales professionals don’t attain individual quotas. In fact, more than 50% of salespeople have a close rate of less than 40%.
Often these individuals are on a decent wage which means that business leaders need to get creative to get them to perform better. So, with these numbers in mind, how can your sales department turn from mediocre to revolutionary?
One of the best approaches for businesses are incentive programs. Although sales representatives are bringing new customers and increasing revenue, their efforts are commonly overlooked as other departments start to work with the client. This can be a massive demotivator for your sales team.
Send your top performers on an overseas holiday!
This is where incentive programs can be a massive boost. Set different performance targets or improvements for your team and then reward those who meet the criteria. For example, the top sales performer over a quarter or year may earn themselves an overseas travel experience or earn other such rewards. Here are a few benefits of incentive programs for your sales department: