REWARDIFICATION 101

Motivation Tools for Sales Teams

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There's a common type of personality that sales roles attract — competitive, high-achieving, determined and exceptionally driven.

It’s important for sales organizations to consciously cultivate an environment where that personality type can flourish — and succeed.

As the business landscape changes, sales leaders need to find different ways to encourage reps to adapt to new selling processes and to work together in a way that benefits the organization as a whole.

Today, many companies are experimenting with motivational tactics that tap into reps’ innate ambitions. However, many of these tools taper off over time and do not have the long-term staying power needed to maximize rep performance and impact conversions.

INTRO

Salespeople need something to strive for, but quotas are just a part of the picture.

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COMPENSATION CONUNDRUM

At the end of the day, salespeople are most motivated by real rewards.

According to a recent study, sales compensation can have a substantial effect on quota attainment and revenue. In fact, companies that did not cap compensation levels achieved higher quota attainment rates. Additionally, 73% of companies with above average compensation plans increased revenue year-over-year.1

It’s no secret that money motivates people, but not all companies can offer unlimited compensation.

What else can companies offer to motivate their salespeople and achieve better results?

1 Steve W. Martin, The Sales Compensation Conundrum

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THE GAMIFICATION DILEMMA

It’s important to create a sales environment that’s competitive, exciting and engaging.

One method is “Gamification.” Gamification takes the features and characteristics of video games and applies them to business. Recognizing individual accomplishments with virtual badges, rewards and progress bars can foster friendly competition and energize teams.

The biggest problem with Gamification, however, is that a virtual badge by itself doesn't tend to hold the interest of sales reps over time.

If Gamification is insufficient on its own, how can sales leaders keep their teams engaged and hungry each and every day? What motivational tactics would be more meaningful and sustainable over time?

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INTRODUCING REWARDIFICATION

Sales teams are motivated by competition and real, tangible rewards.

By combining these two ideals, Velocify has created an even stronger motivation strategy called, "Rewardification." Through Rewardification, sales organizations can offer genuinely valuable incentives to reps who adhere to best practices and deliver strong results.

Velocify Rewardification™ feature-set connects the dots by combining short and long-term motivational tools to drive sales rep engagement, as well as impact behaviors, performance and total conversions.

Here’s how it works:

• Leaderboards keep reps engaged and competitive each and every day.

• Performance Based Distribution rewards diligent reps with more and better leads.

Core Results with Rewardification, Competition + Motivation = More Value.

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IMPACT DAILY BEHAVIORS WITH LEADERBOARDS

Keep your sales team motivated and competitive each and every day with up-to-the-minute activity-based Leaderboards.

• Create Leaderboards based on activity milestones relevant to your business.

• Monitor daily, weekly and monthly performance metrics.

• Let reps reveal their personalities with customized display profiles.

• Get up and running quickly with pre-built Leaderboard templates.

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REWARD PERFORMANCE WITH SMART LEAD ASSIGNMENT

Performance Based Distribution drives long-term success by rewarding diligent reps with more and better leads based on their prior success.

• Leverage Velocify’s patent pending lead distribution technology.

• Increase conversions 53% with intelligent lead assignment.

• Pinpoint individual rep and program success to fine-tune distribution rules.

• Analyze historical agent activity to support operational decision-making.

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Velocify is a market-leading provider of cloud-based intelligent sales software, designed for high-velocity sales environments. Velocify helps sales teams keep pace with the speed of opportunity and increase revenue by driving rapid lead response, increased selling discipline, improved productivity, and actionable selling insights. The company has helped more than 1,500 companies across a variety of industries improve customer acquisition practices and sales performance. Velocify was recently recognized as one of the fastest growing companies in North America by Deloitte and a Best Place to Work by the Los Angeles Business Journal. For more information, please visit velocify.com or follow the company on Twitter @Velocify.

Conclusion

To find out more about Velocify Rewardification tools, visit velocify.com

Real rewards in the form of leads are far stronger sales motivators than virtual badges

or trophies. Velocify’s Rewardification tools keep sales reps motivated and ensure they

follow best practices, ultimately impacting conversion rates and revenues.Get Demo

VELOCIFY.COMContact Sales: 888-843-1777 l sales@velocify.comSubscribe to our blog: velocify.com/blog