Have you seen How To SELL Anything?

This incredible sales handbook distils an expert's lifetime of sales and marketing experience and hands it to you on a platter, in a simple, easy-to-follow format. With existing customers being the most valuable source of income for any business, this book will teach you how to increase your return business and make more profit from your most loyal customers - and even how to reduce the costs of dealing with your least profitable customers.

Get it on Amazon (Kindle/Print)

Sales teams respond to non-cash rewards

Non-cash incentives and rewards have become a vital component of sales performance management, with internal recognition being among the most critical non-financial employee motivators, the study found.

Specifically, 55% of respondents indicated that non-cash incentives and rewards are a "vital component" of sales performance management, and 57% say that "internal recognition for positive performance" is a critical non-financial motivator.

The study, entitled 'Non-Cash Incentives: Best Practices to Optimize Sales Effectiveness', explored how best-in-class organisations extend beyond simple cash compensation to use non-cash incentives and rewards as a vital part of their sales performance management efforts.

The best-in-class firms (those in the top 20%, performance-wise) had higher customer retention rates, higher year-over-year increase in the number of sales reps achieving quota and a much larger increase in deal size/contract value than industry average firms or 'laggard' firms (the bottom 30%).

Organisations with formal internal sales employee recognition programmes had 14.8% higher team quota attainment and 5.9% higher customer renewal rate. Interestingly, 100% of best-in-class organisations use incentive travel to motivate their sales force.

The study also found that best-in-class firms were:

• 11% more likely to offer verbal praise, 90% more likely to offer public recognition and 94% more likely to offer peer-to-peer recognition for progress toward goal versus all other firms;
• 23% more likely than all others to offer group travel, 75% more likely to offer company sponsored events and 60% more likely to offer peer-to-peer recognition as a year-end sales incentive;
• 26% more likely than all others to list teamwork as a very important part of the sales process, and 47% more likely than laggard firms.

The study also examined the choice of whether to outsource the management of non-cash incentive programmes or to implement them in-house, and found that many of the efficiency-oriented metrics favoured the outsourcing of incentive management, with those organisations that outsource showing higher lead conversion rates (30.4% vs. 23.9%) and lower average sales cycles (4.2 months vs. 5.3 months).

Have you seen How To SELL Anything?

This incredible sales handbook distils an expert's lifetime of sales and marketing experience and hands it to you on a platter, in a simple, easy-to-follow format.

With existing customers being the most valuable source of income for any business, this book will teach you how to increase your return business and make more profit from your most loyal customers - and even how to reduce the costs of dealing with your least profitable customers.

You'll learn to sell yourself, sell your products, and sell your brand on the internet, writing high-conversion landing pages, social media posts, and more. You'll start attracting customers you didn’t even know existed, and learn the top trade secrets for customer retention.

You'll become a lean, mean selling machine. See how the experts do it and learn to adapt what they've done for your own profit. You'll learn to write strong, powerful, effective sales copy, whether it's for a sales script, sales letter, flyer, insert, advert or just about anything else.

You'll learn how to sell whether you're selling by telephone, by mail, or even meeting prospects face-to-face. You'll find out how to size them up, present yourself, nail down their true needs, close the sale, and learn to tackle the tricky ones.

You'll discover the biggest secrets of successful direct mail sellers, sales letter writers, and how to segment and choose the right prospects for each campaign.

Get it on Amazon (Kindle/Print)