Picture it: The big yearly sales conference with sales reps everywhere, all gathered for the annual sales bootcamp training on the latest products. The company hosts an exciting event and presents a ton of information. In fact, there’s so much information that the sales reps forget it a couple days later.
What does a sales incentive compensation system have to do with creating a better customer experience? Probably a lot more than you think. And it’s probably a lot more crucial than you think.
The statistics are dismal: 53 percent of sales reps aren’t hitting their quota and 44 percent fail to seal the deal, according to researchers at CSO Insights.
If you are in sales or manage a sales team, you know that incentives are the key to getting the desired behavior you want. Of course, the main incentive is usually going to be a nice commissions check.
You may not be aware of how important non-cash rewards can be, however.