If you increased your current sales profits by 14.8 percent, how much more money would you make this year? How would 5.9 percent more returning customers impact your revenue? A February 2013 study by Aberdeen Group on how “Best In Class” firms achieved their high sales and customer retention rates found that they averaged 14.8 percent more team quota attainment and a 5.9 percent higher customer renewal rate than average businesses. The common factor among all of them was using Incentive Travel to motivate their sales force.
Marketers know that dreams sell – and who doesn’t dream of lounging on a warm beach, cold drink in-hand? When you motivate your team with incentive travel, you’ll see your revenues rise as quotas are met and exceeded. Instead of spending thousands on advertising, why not try investing in your employees?
My tip to get the most out of your incentive travel program is to not only reward your top 20 percent of high performers. While you’ll keep your best salespeople happy with rewards, the quota numbers you really need to move are your midrange people. They need to feel like they have a shot at winning something. (Why bother working harder if those top employees are sure to take all the benefits?). Reach them, while motivating your top performers to outdo themselves, and you’ve got a great year ahead.
Among our specialties at Elite Travel Group is developing travel incentive programs that help businesses succeed.
If you’d like more tips on how to incentivize your sales team, contact Tammy Levent at Tammy@EliteTravelGroup.net
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