How do you balance the intrinsic and extrinsic motivation of your sales staff when using sales awards?

1 What are intrinsic and extrinsic motivation?

Intrinsic motivation is the drive to do something because it is personally rewarding, enjoyable, or meaningful. Extrinsic motivation is the drive to do something because of external rewards, incentives, or consequences. Both types of motivation can influence your sales staff's behavior, attitude, and performance, but they have different effects and benefits. Intrinsic motivation can foster creativity, satisfaction, and loyalty, while extrinsic motivation can increase productivity, competitiveness, and accountability.

2 Why do you need to balance both types of motivation?

While extrinsic motivation can be effective in the short term, it can also have some drawbacks in the long term. For example, if your sales staff rely too much on external rewards, they may lose interest in their work, become complacent, or feel pressured. On the other hand, if your sales staff lack extrinsic motivation, they may not have enough incentives to push themselves, achieve their targets, or overcome challenges. Therefore, you need to balance both types of motivation to create a well-rounded and motivated sales team that can perform consistently and happily.

3 How do you use sales awards to balance both types of motivation?

Sales awards are a great way to recognize and reward your sales staff for their achievements and contributions. To maximize the motivation of your staff, it is important to have a balanced mix of individual and team awards, monetary and non-monetary awards, and outcome-based and behavior-based awards. Individual awards can motivate staff to excel in their own performance, while team awards can foster collaboration and a sense of belonging. Monetary awards can motivate staff to work harder and faster, while non-monetary awards can convey appreciation and respect. Outcome-based awards can motivate staff to achieve specific results, while behavior-based awards can encourage them to adopt desirable behaviors. Behavior-based awards can also help staff learn new skills, improve their quality, and develop their potential.

4 How do you design and implement sales awards effectively?

To balance the intrinsic and extrinsic motivation of your sales staff when using sales awards, you need to design and implement them effectively. Firstly, align your sales awards with your sales strategy and objectives. This will ensure that they reflect and support your sales vision, mission, and goals, as well as being relevant and meaningful to your sales staff. Secondly, communicate your sales awards clearly and transparently. Your staff should know and understand the criteria, process, and benefits of your awards, as well as how they can qualify and apply for them. You should also communicate them frequently and consistently, providing regular feedback and updates. Lastly, celebrate and share your awards widely and publicly. Make sure that your staff feel recognized and appreciated for their achievements, while also being inspired by their peers and leaders. Celebrate across the organization as well as with customers and partners - this will ensure that your awards are visible and valuable in a positive and supportive environment.

5 How do you measure and evaluate the impact of your sales awards?

To balance the intrinsic and extrinsic motivation of your sales staff when using sales awards, you need to measure and evaluate the impact of your sales awards. Tracking and analyzing sales data and metrics is a great way to do this. Monitor and review your performance, productivity, and profitability, as well as compare it to industry standards and best practices. This will help you measure the quantitative and objective impact of your sales awards on your sales results and outcomes. Additionally, surveying and interviewing your sales staff and customers can help you assess the satisfaction, engagement, and loyalty of your staff and customers, while also measuring the qualitative and subjective impact of your sales awards on behaviors and attitudes.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?