We recently joined other revenue leaders to discuss mid-year opportunities for re-energizing sales teams with special incentives. Used strategically, SPIFFS can be a flexible tool in your incentive arsenal.
In this fast-paced webinar, we covered a lot of ground:
- Finding the right balance between monetary vs. non-monetary rewards, and how to determine which is best for your team
- Examples of special incentive strategies that work and those that don't
- How to effectively plan and execute a short-term incentive strategy
- Ideas on how to craft your next spot bonus program
Some key takeaways:
- Nick: SPIFFS are more pertinent than ever, but before you execute, do discovery with your team to understand what’s really going to drive the behavior you want.
- Collin: Start with determining whether you want to incentivize behavior or influence emotion (or a mix of both). But consider the possibility that you can inadvertently incentivize the wrong behaviors.
- Ralph: Think strategically around the use of SPIFF and how they can be helpful in experimenting with solving problems. Remember that short term incentives are usually just band-aids for a larger issue.
- Tanner: The success of your program will hinge on communication with your team and leaders. Communication is key when looking to execute an incentive.
Go deeper into SaaS sales comp practices and policies with our latest benchmark study. This free resource will help your organization drive smarter incentive decisions. Access the report here.
Contact us to schedule a brief call to discuss your compensation questions ahead of next year planning.
About The Author
Ralph is a partner with The Brevet Group, and for 20 years he has led sales performance teams in the United States and Asia. Recently he also served as a sales leader in both the media and technology industries. Ralph’s work has focused on a unique blend of management consulting and sales enablement to help companies execute their sales strategies. Prior to this role, Ralph was the APAC sales effectiveness leader at Mercer.