Whether you’re trying to motivate internal sales reps, channel partners, or run a successful SPIFF or rebate program, planning your promotions is an important part of an effective sales incentive strategy. Some sales incentive promotions might be longer term. Others might be used to give a quick boost to a product launch or to help ignite interest in an underperforming line.
However, sometimes it’s useful to expand your sales incentive strategy beyond achieving specific business objectives. Look at the bigger picture and put yourself in your participants’ shoes. There are certain times of the year where your participants will have a little of extra motivation to push your products! The biggest of these is the holiday season.
Holiday Spending Incentivizes Reps to Earn Incentives
According to ABCNews.com the average American will spend $700 on presents this holiday season. That doesn’t even account for travel or meal prep! Your incentive program is an opportunity for sales reps to keep money in their pockets. Scheduling sales incentive promotions going into the holiday season let you capitalize on that motivation and end the year with a bang! After all, if boosting ROI at opportune times isn’t part of your sales incentive strategy, then you are doing it wrong.
What Incentive Rewards Are Popular During the Holidays?
What types of incentive rewards will your participants be motivated to earn this holiday season?
- Debit Card Rewards – They say “cash is king.” Debit card rewards are just like cash, except they are branded, allow for quicker delivery, and provide additional reporting on your end. Award sales reps with single-use, reloadable, or virtual debit cards to fund their gift-giving this season!
- Merchandise Rewards – Millions of online rewards let participants choose the best gifts for friends and family (or themselves!). In-store pickup options are a lifesaver for the last minute shopper.
- Incentive Gift Cards – Incentive gift card options – whether physical cards or e-delivery – allow participants to stretch out their holiday budget to include many of the most popular brands or re-gift them to loved ones.
- Travel Rewards – Home for the holidays! Online reward catalogs that include the ability to redeem points for airfare and hotel accommodations are a great way for your sales incentive promotion to bring people together.
- Custom Reward Fulfillment – Uniquely Yours allows high-earning participants to redeem their points towards whatever they want – whether that’s home renovations, an engagement ring, or supplies for the office.
- Charitable Donations – ‘Tis the season of giving! Give participants the ability to use their points towards organizations that help make the holidays brighter for everyone. This is an especially strong motivator for millennials.
Give Yourself the Gift of Sales Growth
Are you interested in giving a boost to your revenue by improving your sales incentive strategy? Let’s make 2020 the best year yet! Team up with Extu for your sales incentive program.