The marketing team is a vital part of any business’s infrastructure. The marketing team is responsible for promoting the brand, reaching out to investors and customers alike. Therefore, it is crucial to recognise your marketing team’s efforts and reward them to motivate them.
This is where incentive programs come into the picture. Using a well-structured and organised incentive program, you can keep your employees engaged, motivated towards their targets and get rewarded in the process. To know more about sales incentives programs, you can explore organisations that are focussed on improving performance of employees.
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Why are Incentives Important?
Incentives are significant because they increase motivation and productivity amongst employees. They help people to outperform themselves and work towards higher incentives. Moreover, incentives act as a lucrative addition when hiring new talent.
A study was conducted to investigate the effects of incentives on employee productivity. It was found that non-pay incentives significantly impacted work productivity and encouraged employees to perform better and become an asset to their company. Another study found that the incentive programs were boosting employees’ performance anywhere from 25 to 44%.
However, the challenge most companies face is the lack of knowledge to create a well-constructed incentive program that is crafted for better results. Using a well-established incentive program can be an ideal way to introduce rewards for your marketing team. The program will already have a process in place wherein you can motivate and retain employees. You can see a demo to understand how the incentive program works on a dedicated website.
How to Introduce Incentives for Your Marketing Team?
1. Customised Incentive Program
No two businesses are the same. Thus, a one-size-fits-all incentive program approach is not practical. Instead, look for programs customisable according to your unique business requirements. For example, the program offered at https://www.power2motivate.com.au/solutions/employee-engagement/sales-incentives is available in 17 languages and can be used anywhere in the world.
2. Employee Recognition
The program should offer functional and fun UI like leaderboards to keep track of employee performance. Seeing one’s name in the list of top-performing personnel is an achievement that all employees will strive to achieve.
3. Extensive Rewards Gallery
Once the employee tops the leaderboard or fulfils the targets assigned, you should adequately reward them for their work. But, again, look into the type of rewards offered. For example, incentive programs involve different prizes, such as electronic goods, appliances, event tickets, and even international vacations.
You can associate different targets with the rewards and transfer the power of choice to employees. Let your marketing team decide what prize they want to work towards next.
4. Track ROI
An incentive program is an investment a company can make. But it is essential to track ROI. Choose a program with built-in reporting capabilities that can provide insights into engagement, goals, and rewards.
Every business aims at hard work and appropriate profits in return. Your marketing team plays an essential role in achieving this objective. Recognition is one aspect because of which employees will try to perform better at work. Using an incentive program, you reward your personnel for their effort and choose the rewards they win.
