Incentra Insights

In today's dynamic business landscape characterized by rapid changes in technology and evolving workforce demographics, the significance of a well-crafted sales incentive program can’t be overstated. No longer just a bonus or perk, these programs are essential tools for driving employee engagement, nurturing company culture, and ultimately boosting performance.

Today’s Unique Challenges

Most sales leaders agree that 2024 will be one of the toughest sales years they have yet to experience. The enormous upheavals caused by the hybrid workplace and virtual selling have already led to anxiety and stress within sales teams. Add to that the unsettling state of our politics, the crisis levels of world events, and the general concerns of job security and economic uncertainties, you have a recipe for failure to meet sales goals. So how can sales managers motivate their sales teams in such a challenging environment?

Whether you’re creating a sales incentive program for the first time or revamping a current program, a successful sales incentive program is crucial for motivating your sales team and driving performance. The effort put into developing a program will help a business reach its short and long-term goals.

We’re sharing our top 5 blog posts (by number of page views) that were published in 2023. If you missed any of these posts, be sure to check them out here. They feature the latest industry topics and helpful information on employee recognition and channel incentives.

Focus on Sales Effectiveness

Sales managers will be laser-focused on the effectiveness of their sales programs in 2024. Having to adapt to the tsunami of changes caused by the pandemic has compelled sales teams to adjust to a whole new world of processes and procedures. Having weathered the storm so far, managers are hoping they can transform these changes into winning sales strategies. So how will sales teams be able to successfully capitalize on these changes in 2024 and avoid many of the accompanying pitfalls?

Sales incentive plans are necessary for motivating and rewarding your sales team. However, creating a successful plan can be challenging in today’s market. In this post, we share four key elements needed for a successful sales incentive plan.

Refocus on Fundamentals

The tumultuous changes brought on by both the digital explosion and the COVID-era lockdowns have added enormous complexities to the traditional sales process. As we adapt to all these changes, it’s critical that we don’t lose sight of the fundamental principles of a sales incentive plan. We need to refocus on these basic principles to help our sales organizations address today’s most pressing trends in an effective and efficient way.

Is your channel incentive program working? Is the program helping you reach the goals you set? When our clients have incentive programs that need a boost in performance, we suggest that they first take a look at how they’re promoting their programs.

We’re sharing our top 5 blog posts (by the number of page views) that were published over the last 12 months. If you missed any of these posts, check them out here. They feature the latest topics in the industry as well as helpful information on employee recognition and channel incentives.

Why the Focus on Sales Enablement?

As sales organizations struggle to find a “new normal”, they are increasingly focusing on their sales enablement strategies. Last year, Forbes predicted that sales enablement would become a critical element in the coming year’s post-pandemic sales planning. It appears their predictions are coming true.