This checklist guides the process of setting up a sales incentive program aimed at motivating sales teams and enhancing performance. It ensures all necessary steps are covered to create an effective program that aligns with business goals.
Identify specific goals you want to achieve with the sales incentive program, such as increasing sales by a certain percentage or promoting specific products.
Explore various types of incentives, including cash bonuses, gift cards, trips, or recognition awards, that will motivate your sales team.
Establish who is eligible for the program, whether it includes all sales team members or is limited to top performers.
Decide on the key performance indicators (KPIs) that will be used to measure success and track progress towards the program objectives.
Develop a timeline for the program, including start and end dates, as well as key milestones for measuring performance.
Inform the sales team about the incentive program, its objectives, eligibility criteria, and how they can participate.
Officially kick off the incentive program, making sure all sales team members are engaged and motivated to participate.
Regularly review the program's performance, gather feedback from participants, and make any necessary adjustments to improve effectiveness.
Assess the overall impact of the program on sales performance and determine if the objectives were met.