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How to create a sales incentive plan : A practical guide

by Sales Incentives

How to create a sales incentive plan : A practical guide

In the realm of sales, a well-crafted incentive program is the secret sauce for success. This guide takes a practical approach to building a powerful sales incentive program that elevates performance and drives results. From defining objectives to strategic timing, let’s explore the practical intricacies of each crucial aspect. 

 1. Objectives 

Reducing Attrition Rates: Foster a positive work environment by regularly acknowledging achievements and providing constructive feedback. Recognition programs and non-monetary incentives can significantly impact employee retention. 

Motivating Top Performers: Set clear Key Performance Indicators (KPIs) and promptly recognize and reward high achievers. A well-defined incentive structure creates a sense of accomplishment and motivates others to excel. 

Extending Motivation Beyond Money: Integrate gamification into daily workflows to keep the motivation alive. Simple and creative games can add an element of fun and challenge, driving continuous improvement. 

 2. ROI and Goal Setting  

Forecasting Business Contributions: Predictive analytics identifies high-performing individuals and channels. Allocate resources strategically to areas that promise optimal returns. 

Understanding the 80/20 Rule: Basic analytics can reveal the minority of salespeople driving the majority of business. Tailor support and incentives to maintain and nurture these high-performing teams. 

Real-Time Tracking with Analytics Tools: Implement user-friendly analytics tools for real-time insights into ROI and margin-sharing dynamics. Accessible dashboards empower decision-makers with timely and actionable information.  

3. Market Research 

In-Depth Competitor Analysis: Dive into comprehensive industry studies to gather insights into competitors’ incentive programs. Analyze their strategies, success stories, and areas for improvement. Learning from their experiences positions your incentive program strategically. 

Industry Trends and Insights: Stay ahead by delving into current industry trends. Leverage market research reports and studies to identify emerging patterns in incentive programs within your sector. Being attuned to these trends allows you to adapt and innovate your strategies accordingly. 

Expert Consultation for Strategic Alignment: Connect with market research and consulting industry experts to gain a deeper understanding of the market landscape. Industry professionals possess valuable insights and can provide tailored advice, ensuring your incentive program aligns strategically with prevailing market conditions. 

4. Understanding the Supply Chain  

Simplified Incentive Distribution: Keep incentive distribution straightforward and transparent. Ensure all stakeholders understand how incentives flow through the supply chain. 

Real-Time Product Movement Tracking: Utilize basic inventory tracking systems for timely updates on product movements. Anticipate demand and ensure the availability of incentivized products. 

Automation for Accuracy: Automate incentive distribution based on predefined conditions. This reduces administrative burden and guarantees accurate and timely delivery of incentives. 

5.1 Auto Dealerships  

Incentive Integration: 

Manufacturing Unit: (Sub-assembly stations, quality control, and final assembly lines)

  • Incentivize line workers for meeting daily production targets. 

  • Quality control staff receive bonuses for maintaining high inspection standards. 

Distribution Center : (Centralized facility managing the storage, packaging, and transportation of vehicles) 

  • Implement bonuses for efficient transportation and reduced delivery times. 

  • Reward staff for accurate inventory management to minimize stockouts. 

Auto Dealership: (Showroom floor for displaying vehicles, service center for maintenance)

  • Sales staff receive commission-based incentives for each vehicle sold. 

  • Service center staff get bonuses for exceeding customer satisfaction benchmarks. 

Retailer Network: (Mechanics, carpenters, and social media influencers influencing buyer decisions)

  • Mechanics earn incentives for recommending the dealership’s service center. 

  • Social media influencers receive commissions for each sale influenced. 

    Here’s an example of the KPIs to measure and the incentive structure –  

Audience 

KPIs to Measure 

Percentage of Rewards 

Distributors 

Primary and secondary sales billing 

Rewards based on product margins 

Distributors 

Number of retailers onboarded 

Additional bonuses for retailer acquisition 

Dealerships 

Extended warranties incentives 

2-5% of gross value 

Car Workshops 

PPF Films incentives 

5% of gross value 

 

5.2 Oil Lubricants

Incentive Integration: 

Production Facility: (Mixing and blending stations, quality control, and packaging lines)

  • Incentivize production teams to reduce waste and improve efficiency. 

Distribution Network: (Warehousing and logistics centers strategically placed for efficient distribution)

  • Bonuses for timely and accurate distribution to retailers. 

  • Incentivize logistics staff for optimizing routes and minimizing costs. 

Retailer Network: (Auto parts stores, service centers, and retailers selling oil lubricants) 

  • Offer volume-based incentives for retailers selling higher quantities. 

  • Provide bonuses for retailers promoting specific lubricant products. 

Here’s an example of the KPIs to measure and the incentive structure – 

Audience 

KPIs to Measure 

Percentage of Rewards 

Retailers 

Total units sold (e.g., liters of oil lubricant) 

2-5% of gross sales value 

Mechanics 

Total units sold 

2-5% of gross sales value 

5.3 Retail Apparel 

Incentive Integration: 

Design and Production Center: (Design studios, cutting rooms, production lines, and quality assurance) 

  • Incentivize designers for creating trendsetting and popular designs. 

  • Reward production teams for meeting tight deadlines without compromising quality. 

Distribution Centers: (Warehousing and logistics centers managing apparel inventory)

  • Implement incentives for efficient distribution to retailers. 

  • Offer bonuses for minimizing product damage during handling and transport. 

Showrooms/ Multi brand retailers: (Retailers receiving and showcasing the primary sales items) 

  • Sales staff receive commission-based incentives for primary sales. 

  • Bonuses for retailers who successfully showcase and promote specific apparel lines. 

Retailer Network: (Boutiques, department stores, and online retailers selling secondary items)

  • Provide bonuses for retailers who successfully upsell secondary items. 

  • Offer training incentives to enhance product understanding and customer engagement. 

    Here’s an example of the KPIs to measure and the incentive structure  – 

Audience 

Key Performance Indicators (KPIs) 

Ways to Incentivize 

Zonal Manager (ZM) 

ASM Performance Score, Total Secondary Sales, Inventory Management 

Introduce tiered incentives for ZMs based on ASM performance and sales achievements. 

Area Sales Manager (ASM) 

Sales Executive Performance, Retail Store Metrics, Sales Volumes 

Offer performance-based bonuses for ASMs tied to their team’s achievements. 

Sales Executive 

Total Sales (Primary and Secondary), Product Knowledge 

Provide commission-based incentives linked to total sales and gamified product quizzes. 

Distributor 

Primary and Secondary Sales 

Offer credit notes for achieving quarterly primary sales targets. 

Retailer 

Secondary and Tertiary Sales 

Provide credit notes and bonuses based on successful secondary and tertiary sales. 

Salesperson (Retail Store) 

Tertiary Sales 

Introduce a points-based system for salespersons linked to successful tertiary sales. 

5.4 Retail Watches  

Incentive Integration: 

Manufacturing Facilities: (Precision manufacturing, assembly lines, and quality control) 

  • Incentivize precision technicians for creating innovative and intricate designs. 

  • Reward production teams for maintaining high-quality standards. 

Distribution Centers: (Warehousing and logistics centers managing the storage and transportation of watches)

  • Bonuses for accurate and timely distribution to retailers. 

  • Incentivize logistics staff for optimizing routes and minimizing handling times. 

Retailers: (Stores showcasing and selling overall watch collections)

  • Offer sales incentives for overall watch collection sales. 

  • Tailor bonuses for retailers specializing in premium watch sales. 

Premium Watch Section: (Exclusive sections within retailers focusing on high-end watch sales)

  • Provide exclusive incentives for staff working in the premium watch section. 

  • Implement bonuses for achieving high-value invoices for premium watches. 

Here’s an example of the KPIs to measure and the incentive structure – 

Audience 

KPIs to Measure 

Percentage of Rewards 

Retailers 

Total retail store sales 

0.5% of gross sales value 

Retailers 

Branded SKU-driven watches 

1-2% of gross sales value 

Retailers 

Luxury/high-value SKU-driven watches 

2-3% of gross sales value 

5.5 Retail FMCG 

Incentive Integration: 

Production Facilities: (Factories producing a variety of consumer goods) 

  • Incentivize production teams for meeting quantity and quality targets. 

  • Reward innovation in creating new and popular consumer goods. 

Distribution Centers: (Warehousing and logistics centers managing the storage and transportation of FMCG products)

  • Implement incentives for accurate and timely distribution to retailers. 

  • Motivate staff to minimize product loss and damage during transportation. 

Retailer Networks: (Grocery stores, convenience stores, and retailers selling plan-o-gram assortments)

  • Offer sales incentives for retailers based on overall plan-o-gram assortment sales. 

  • Tailor bonuses for retailers successfully promoting and selling premium goods. 

Premium Goods Section: (Specialized sections within retailers focusing on premium goods)

  • Provide exclusive incentives for staff working in the premium goods section. 

  • Implement bonuses for achieving high-value invoices for premium goods. 

This detailed breakdown offers a comprehensive understanding of each industry’s supply chain, followed by a nuanced exploration of how incentives can be strategically integrated at various points to drive optimal performance from different stakeholders. 

Here’s an example of the KPIs to measure and the incentive structure – 

Stage in Supply Chain 

KPIs to Measure 

Percentage of Rewards 

Distributors 

Primary and secondary sales billing 

10-20% of product margin 

Retailers 

Focus brand billing 

10-20% of product margin, higher for focus products 

Retailers 

Tertiary sales billing 

10-20% of product margin 

Retailers 

Planogram adherence 

5% of product margin 

Salespeople 

Training scores 

Additional bonuses based on training performance 

 

 6. Timing  

Analyzing User Behavior: Determine the most effective times for onboarding and feature launches by analyzing user behavior. Tailor engagement to align with the preferences and schedules of the target audience. 

Adapting Timing Frequency: Adjust timing frequency based on insights from user engagement. Fine-tune timing strategies for maximum effectiveness, ensuring users are engaged at the right moments. 

 7. Mechanics and Process Flows  

Simplify Incentive Distribution: Automate routine processes with user-friendly tools to streamline incentive distribution. Minimize errors and ensure consistency in the delivery of incentives.  

Responsive Automation: Implement intuitive automation that adapts based on user behavior. Keep processes simple and responsive to ensure the incentive program remains user-friendly and effective. 

This practical exploration offers a balanced perspective on crafting a sales incentive program, focusing on tangible strategies without diving into highly technical details. By applying these practical insights, organizations can create incentive programs that resonate with both sales teams and customers, fostering sustained success. 

Top 5 sales incentive software solutions

Top 5 Sales Incentive Software Solutions in India 

by Sales Incentives

Top 5 Sales Incentive Software Solutions in India

Top 5 sales incentive software solutions

Empowering your sales strategy is crucial for business success, and implementing a robust sales incentive software can be a game-changer.

Dive into the offerings of these industry-leading companies, designed to supercharge your sales team’s performance and drive business growth. 

To guide businesses through the realm of sales incentives in India, we’ve curated a list of the top 5 sales incentive software solution providers.

These companies specialize in delivering innovative solutions that engage and incentivize your sales team, ultimately boosting performance and loyalty. 

List of Top 5 Sales Incentive Software Solutions in India: 

  1. My Incentives by GRG India
  2. Everstage
  3. Spiff
  4. CaptivateIQ
  5. Performio

1. My Incentives by GRG India: 

My Incentives by GRG India takes the lead as a comprehensive sales incentive software solution tailored for various sectors, including Auto, Oil & Lubricants, Banking BFSI, Retail, FMCG, Technology, and IT services.  

My Incentives has one of the most sophisticated calculation engines, best suited for enterprises with large sales teams and diverse incentive plans. 

Key Features: 

  • Intelligent Sales Nudges 

  • Automated Incentive Calculations 

  • Tiered Incentive Programs 

  • Approval based workflow 

  • If – Then Incentive Structure preview 

  • Gamification Features 

  • Intelligent Sales Nudges 

  • Diverse Payout Options 

Cons: 

  • The solution is best suited for enterprise brands, may not be a good fit for brands with sales teams of less than 100. 

2. Everstage: 

Everstage stands out as a dynamic sales incentive software solution designed to elevate sales team performance. With a focus on simplicity and versatility, Everstage provides an intuitive platform for businesses to manage and optimize their sales incentive programs effectively. 

Key Features: 

  • Intuitive User Interface 

  • Goal Tracking and Performance Analytics 

  • Flexible Incentive Structures 

  • Seamless Integration with CRM 

  • Real-Time Reporting 

Cons: 

  • Limited advanced analytics features compared to some competitors. 

3. Spiff: 

Spiff brings innovation to sales incentives with its platform designed to motivate and reward sales teams. With a sleek and user-friendly interface, Spiff offers real-time visibility into performance metrics and customizable incentive structures, making it a powerful tool for driving sales excellence. 

Key Features: 

  • Real-Time Performance Tracking 

  • Customizable Incentive Structures 

  • Automated Commission Calculations 

  • Interactive Dashboards 

  • Integration with CRM and Sales Tools 

Cons: 

  • May not be as cost-effective for Indian brands. 

Want to enable a sales incentive solution for your team? Watch this video on how to get started.

4. CaptivateIQ: 

CaptivateIQ positions itself as a modern solution for sales compensation management. Tailored for precision and ease of use, CaptivateIQ offers a platform that simplifies the complexities of commission calculations and provides transparency to sales teams, ensuring accurate and fair compensation. 

Key Features: 

  • Automated Commission Calculations 

  • Transparent Commission Tracking 

  • Scenario Modeling for Comp Plans 

  • Seamless Data Integration 

  • Customizable Reporting 

Cons: 

  • Implementation may require dedicated resources. 

5. Performio: 

Performio takes its place as a robust sales performance management solution, focusing on accuracy and efficiency. With a feature-rich platform, Performio streamlines incentive compensation processes, providing businesses with the tools needed to drive sales productivity and achieve organizational goals. 

Key Features: 

  • Automated Incentive Calculations 

  • Goal Setting and Tracking 

  • Commission Forecasting 

  • Multi-Currency Support 

  • Performance Analytics and Reporting 

Cons: 

  • Limited payouts, engagement features compared to the other 5 sales incentive solution in the list. 

Top 5 Sales Incentive Software Solutions – Choose the Best Fit for Your Business: 

These top 5 sales incentive software solutions in India are at the forefront of driving engagement, incentivizing performance, and fostering loyalty among sales teams. While each program offers unique features and strengths, carefully evaluate your business requirements before deciding. 

Don’t try them all – start with a free product tour of My Incentives, the best-suited Sales Incentive enabler for Indian Brands, trusted by leading names in the industry. Get your free product tour here. 

Sales Incentives Claims

Understanding the claims process in channel incentive programs

by Channel Partner LoyaltySales Incentives

Personalized Certificates - Elevating Sales Gamification for Maximum Impact 

Sales Incentives Claims

In channel incentive programs, claims hold a pivotal role in ensuring smooth transactions between parties involved. Let’s delve into the nuances of claims, examining the reasons behind their implementation, the choice between QR codes and invoice uploads, and the associated advantages and disadvantages.   

Why Claims? 

Including claims in channel incentive programs serves a fundamental purpose: maintain transparency and accountability. By necessitating a formal claim process, organizations seek to validate transactions and ensure that incentives are distributed accurately. This not only fosters trust among stakeholders but also acts as a safeguard against potential discrepancies. 

Claims and Invoice Uploads Reshaping Data Dynamics in FMCG 

Disrupting Data Silos: 

The traditional FMCG model operates within tight data silos, primarily focusing on distributor sales. 

My Incentives disrupts this norm, demanding detailed claims and invoice uploads, opening doors to previously unexplored data realms. 

Secondary and tertiary data, encompassing retailers and influencers such as carpenters, mechanics, and electricians, now take center stage. 

Strategic Data Empowerment: 

Claims and invoice uploads serve as strategic data sources, offering nuanced insights that extend beyond conventional metrics. 

Brands gain a panoramic view of market dynamics, uncovering regional intricacies and understanding how incentives resonate across diverse supply chain segments. 

This depth of data empowerment positions organizations to make informed, strategic decisions. 

Transforming Data Relationships: 

Beyond transactional exchanges, claims and invoice uploads redefine the relationships with stakeholders. 

The platform becomes a nexus for comprehensive data connections, linking the brand not just to distributors but also to retailers and influencers. 

Collaborative partnerships emerge, driven by the exchange of valuable data and fostering a new era of data-centric engagement. 

 QR Code vs Invoice Upload 

 One of the critical decisions in designing a claims system is choosing the method for submission – QR codes or invoice uploads. The choice between these two methods hinges on practical considerations. 

 QR code claims in sales incentives

 QR Code: 

Advantages: 

  – Efficiency: Quick and convenient, QR codes streamline the claims process, allowing for a faster turnaround. 

  – Reduced Errors: The automated nature of QR code scanning minimizes the risk of manual errors during data entry.  

– Disadvantages: 

  – Limited Information: QR codes may lack detailed information, necessitating additional verification steps. 

  – Dependency on Technology: Successful implementation relies on widespread access to QR code scanning technology.  

Invoice upload in sales incentives

Invoice Upload: 

– Advantages: 

  – Comprehensive Information: Invoice uploads provide a detailed record, facilitating thorough validation. 

  – Flexibility: Suited for a wide range of transactions, especially those requiring supporting documentation.  

– Disadvantages: 

  – Time-Consuming: Manual processing of uploaded invoices may result in longer processing times. 

  – Potential for Errors: Human errors during document submission can occur, necessitating careful scrutiny.  

Benefits of having a robust claims program 

Implementing a robust claims system in channel incentives programs brings forth several advantages: 

– Accuracy: Claims processes enhance accuracy by requiring validation and verification steps, reducing the likelihood of errors in incentive distribution. 

– Trust and Transparency: Stakeholders place trust in programs with transparent claims processes, fostering stronger relationships between channel partners and organizations. 

– Data Insights: A well-structured claims system provides valuable data insights, enabling organizations to analyze trends, optimize processes, and make informed decisions.  

Disadvantages 

However, it’s essential to acknowledge the potential drawbacks: 

– Operational Delays: Depending on the chosen method, claims processing may introduce operational delays, impacting the speed of incentive distribution. 

– Resource Intensity: Managing claims can be resource-intensive, requiring dedicated personnel and systems to ensure accuracy and fairness. 

Recent Technology Evolution 

In recent years, technological advancements have influenced the landscape of claims in channel incentive programs. The integration of artificial intelligence (AI) and machine learning (ML) has streamlined the validation process, reducing the need for manual intervention. Automation tools now play a pivotal role in expediting claims processing while maintaining accuracy. 

 The Role of OCR Technology  

OCR technology involves the conversion of different types of documents, such as invoices, into editable and searchable data. This capability brings about several advantages in the context of claims within channel incentive programs. 

– Enhanced Data Extraction: OCR technology excels in extracting data from various document formats, transforming images or scanned documents into machine-readable text. This capability is particularly valuable in the context of invoice uploads, where detailed information is crucial for validation. 

– Reduced Manual Intervention: By automating the extraction of information from invoices, OCR minimizes the need for manual data entry. This not only expedites the claims processing workflow but also significantly reduces the risk of human errors. 

– Adaptability to Diverse Formats: OCR technology is versatile, capable of handling a wide array of document formats and layouts. This adaptability ensures that the claims system remains flexible, accommodating the diverse documentation submitted by channel partners. 

Integration with Claims Systems: 

The integration of OCR technology with existing claims systems can yield substantial benefits, amplifying the overall effectiveness of incentive programs. 

– Streamlined Validation: OCR technology contributes to a streamlined validation process by rapidly processing large volumes of documents. This accelerates the overall claims processing time, contributing to quicker incentive distribution. 

– Data Accuracy: Automated data extraction through OCR reduces the chances of inaccuracies introduced during manual data entry. The result is a more accurate and reliable claims system. 

– Resource Optimization: With OCR handling the heavy lifting of data extraction, human resources can be directed towards more strategic tasks, optimizing the overall efficiency of the claims management team. 

Considerations and Implementation: 

While OCR technology brings notable advantages, organizations must consider certain factors before implementation. 

– Quality of Documents: The effectiveness of OCR is contingent on the quality of the submitted documents. Well-scanned and legible documents ensure optimal performance.  

– Data Security: Implementing OCR requires robust security measures to safeguard sensitive information contained in invoices. Ensuring compliance with data protection regulations is paramount.  

Incorporating OCR technology into the claims process reflects a commitment to leveraging advancements for the benefit of all stakeholders. As organizations continue to explore innovative solutions, OCR stands out as a pivotal technology that not only expedites processes but also contributes to the overall reliability and accuracy of channel incentive programs. 

personalized certificates for sales incentives

Personalized Certificates – Elevating Sales Gamification for Maximum Impact

by Sales Incentives

Personalized Certificates - Elevating Sales Gamification for Maximum Impact 

personalized certificates for sales incentives

Welcome to a guide that unveils the power of personalized certificates in the realm of sales gamification.

In this exploration, we’ll delve into the art of recognizing and rewarding sales achievements through personalized certificates, creating a dynamic strategy that fuels motivation, camaraderie, and, ultimately, sales success. Let’s dive into the world of personalized recognition and its game-changing potential. 

Understanding Personalized Certificates: 

Sales gamification becomes a powerhouse when paired with personalized certificates.

These aren’t just pieces of paper; they’re tokens of appreciation crafted uniquely for each team member, recognizing their specific achievements and contributions.

Let’s explore how personalized certificates redefine the game of sales recognition. 

Crafting Unique Recognition: 

The essence of personalized certificates lies in their uniqueness. Discover how tailoring each certificate to highlight individual accomplishments adds a personal touch, making your team members feel valued and acknowledged.

We’ll guide you through the process of crafting certificates that go beyond generic appreciation, fostering a sense of individual pride.  

Strategic Implementation of Personalized Certificates: 

Recognition Beyond Numbers: 

Move beyond the typical metrics. Personalized certificates aren’t just for hitting sales targets; they celebrate the journey.

Explore how recognizing efforts, creativity, and collaboration can reshape your team’s approach to success, making sales gamification more holistic and meaningful. 

Timely Acknowledgment: 

Timing is everything. Discover the impact of timely recognition through personalized certificates.

Whether it’s a weekly spotlight or an instant acknowledgment for a significant achievement, we’ll guide you on integrating timing into your strategy for maximum effect. 

Incorporating Team Feedback: 

Personalized certificates aren’t a one-size-fits-all solution. Learn how to leverage team feedback to tailor your recognition program.

We’ll explore the value of input from your team in shaping a personalized certificate system that resonates with everyone. 

Measuring the Impact: 

Boosting Sales Performance: 

Let’s get down to numbers. Explore how personalized certificates translate into tangible sales growth.

We’ll analyze data trends to provide insights into the direct correlation between personalized recognition and increased sales performance. 

Enhancing Employee Satisfaction: 

Happy employees mean a thriving workplace. Personalized certificates contribute to employee satisfaction by acknowledging their efforts.

Infuse joy into your workplace through personalized certificates in our sales incentives gamification. Recognize individual accomplishments uniquely, igniting a culture of happiness and success.

Experience a boost in team morale as every milestone is celebrated with beautifully crafted certificates. Elevate your work environment with personalized recognition, creating a motivated and fulfilled sales team. 

In the evolving landscape of sales gamification, personalized certificates emerge as more than mere tokens; they are catalysts for motivation, camaraderie, and heightened sales performance.

This blog underscores the strategic impact of personalized recognition on individual pride, team dynamics, and overall sales success. 

Excited about introducing gamification features in your incentive plans? Read our guide on how to gamify your incentive programs.

Connect with us to explore how the strategic implementation of personalized certificates can seamlessly integrate into your sales gamification strategy. Let’s chart a course for personalized success and recognition together, creating a sales environment where every achievement is celebrated uniquely. Your journey to sales excellence begins now.

Target meters

Boosting Sales Success with Target Meters: A Practical Guide 

by Sales Incentives

Boosting Sales Success with Target Meters: A Practical Guide

Target meters

Welcome to a guide that not only unravels the mysteries of Target Meters but also serves as your compass in the vast world of sales.

In this comprehensive exploration, we will delve deep into the intricacies of these dynamic tools, offering practical insights, strategies, and real-world success stories. Buckle up as we navigate the terrain of sales and discover how Target Meters can be the game-changer you’ve been searching for. 

Understanding the Basics: 

Sales goals can often feel like distant targets, elusive and hard to reach. Enter Target Meters, the visual GPS that transforms those abstract goals into clear, actionable paths. Let’s embark on a journey to unravel the simplicity of this tool and explore how it can steer your team confidently toward success. 

Injecting Excitement into Targets: 

Traditional sales goals can be a bit monotonous, right? Prepare to leave the ordinary behind as we uncover how Target Meters inject enthusiasm into the mix. Discover how these meters can turn routine targets into exciting journeys, transforming your team’s daily tasks into a series of gratifying challenges. 

Celebrate Every Win: 

More than mere progress trackers, Target Meters become symbols of accomplishment. Learn how these visuals add a profound sense of achievement to every milestone, making your team’s journey not just productive but also deeply rewarding. 

Putting Target Meters to Work: 

Ready to make your Target Meters visually compelling? We’ll explore the art of crafting impactful visuals that resonate with your team’s goals, making the journey more engaging and the destination more satisfying. 

Real-Time Insights for Action: 

No more static updates. Embrace the dynamic power of real-time insights within Target Meters. Discover how this feature adds an extra layer of excitement and keeps your team engaged with up-to-the-minute data, fostering a proactive approach to goal attainment. 

Recognition Matters: 

It’s not just about reaching the finish line; it’s about celebrating every step of the journey. Explore how Target Meters can be used not only for final celebrations but for recognizing progress, big or small, ensuring your team stays motivated throughout. 

Measuring the Impact: 

Target Meters are more than just a visual aid; they are strategic tools for driving sales growth. Delve into how deliberately implementing them can have a direct and positive impact on your bottom line. 

 Strategic Target Attainment: 

Unpack the strategic influence of Target Meters on your team’s ability to hit sales targets. We’ll analyze data trends to provide valuable insights that can refine your approach and enhance your team’s performance. 

Team Engagement Boost: 

Connect Target Meters to surveys and feedback tools to gauge team engagement. Explore how increased engagement levels translate into a significant overall performance boost for your entire team.  

Excited about introducing gamification features in your incentive plans? Read our guide on how to gamify your incentive programs.

Connect with us to explore how the strategic implementation of Target Meters can seamlessly integrate into your sales strategy. Let’s chart a course for precision and success together.

Your journey to sales triumph begins now, and we’re here to guide you every step of the way. 

4664447

The impact of leaderboards on sales teams

by Sales Incentives

The impact of leaderboard on sales teams

In the ever-evolving world of sales strategies, there’s a standout player — Leaderboards. This blog plunges into the profound impact of Leaderboards on sales teams, unraveling how this gamification strategy can fuel performance, spark healthy competition, and pave the way for unparalleled success. 

Understanding the Power of Leaderboards: 

Boosting Motivation Through Recognition: 

Leaderboards aren’t just scorecards; they’re cheerleaders. Make them a stage for celebrating victories openly. Regularly showcase top performers, turning achievements into a team-wide celebration that boosts motivation. 

Fostering Healthy Team Dynamics: 

Go beyond ranking. Infuse Leaderboards with challenges or bonuses tied to specific milestones. Cultivate a spirit of friendly competition, igniting a collective drive to surpass targets and fostering a culture of shared success. 

Encouraging Collaborative Wins: 

Shape Leaderboards that inspire teamwork. Introduce team-based achievements and rewards, encouraging members to collaborate and rise together. It’s not just about individual success; it’s about the team conquering goals collectively. 

Implementing Effective Leaderboards: 

Real-time Updates and Transparency: 

Keep the Leaderboard experience lively with updates in the moment. Share performance rankings openly, making it a live and engaging experience. It’s not just about competition; it’s about being part of the action as it unfolds. 

Tailoring Metrics for Precision: 

Customize Leaderboards with precision. Base them on diverse performance metrics that align with specific business objectives. Tailoring ensures the Leaderboard speaks directly to the unique aspects of your team and goals. 

Inclusive Recognition Strategies: 

Break free from the top-performer mold. Implement a tiered system or acknowledge consistent progress. Inclusivity matters; it’s about creating an environment where every effort is valued and recognized. 

Measuring the Leaderboards Impact: 

Metrics Driving Sales Growth: 

Look beyond the rankings. Evaluate how Leaderboards influence crucial performance metrics, directly impacting sales growth. It’s not just a display; it’s a tangible driver of success. 

Team Morale and Retention: 

Measure the ripple effect on team morale and retention. A well-crafted Leaderboard that nurtures satisfaction contributes to a cohesive and committed team. It’s not just numbers; it’s the people behind them. 

Case Study: Revolutionizing Channel Sales with Gulf Oil

Leaderboards

Challenge: Gulf Oil, a key player in the lubricants industry, faced the challenge of optimizing their channel partner engagement. They sought a solution to not only recognize top-performing partners but also foster healthy competition, encouraging all partners to strive for excellence. 

Our Approach:We proposed a comprehensive Leaderboard system designed specifically for Gulf Oil’s channel partners. This bespoke Leaderboard featured four key sections, each tailored to provide actionable insights and drive healthy competition among partners: 

  • Your Rank: A real-time display of each partner’s current ranking, fostering competition and recognition. 

  • What Did the Rank Above You Do Differently This Month: Under this insightful heading, three sections provided in-depth information: 

a. Monthly Volume: Tracking the total sales volume of each partner for the month. 

b. Growth: Highlighting the percentage growth achieved by each partner, emphasizing progress and improvement. 

c. Product Mix: Analyzing the mix of products sold by each partner, encouraging a strategic approach to diversifying sales. 

Results:The integration of the Leaderboard system led to a paradigm shift in Gulf Oil’s channel partner engagement. Partners became more proactive, learning from each other’s successes, and leveraging insights to adapt and grow. The friendly competition, driven by real-time metrics and insights, resulted in a substantial increase in overall sales performance. 

Conclusion: 

In the realm of sales gamification, Leaderboards aren’t just metrics; they’re catalysts shaping a culture of achievement and collaboration.

Ready to redefine your sales team’s success journey? Connect with us today to explore how the strategic implementation of Leaderboards seamlessly integrates into your sales gamification strategy, propelling your team toward unprecedented success. 

Business values can heavily influence your brand identity and how outsiders view your company. It is therefore imperative that a company has very firm values and the same is embodied in all aspects of their business.  

Let’s begin with a quick recap of what we know about values. Values are individual belief systems that motivate people to act one way or another. They serve as a guide for human behaviour. Generally, people are predisposed to adopt the values that they are raised with. Ethical decision-making often involves weighing values against each other and choosing which values to elevate. Conflicts can result when people have different values, leading to a clash of preferences and priorities. Some values have intrinsic worth, such as love, truth, and freedom. Other values, such as ambition, responsibility, and courage, describe traits or behaviours that are instrumental as a means to an end.  

As an individual, values essentially serve as a guide to growth and development. They help us create the future we want to experience. Much like individuals, organizations also need values directed towards a specific purpose, be it growth, development or business success. These cannot be attained in the absence of a strong value-based organizational culture that embodies it’s core values. 

Strong value-based work culture is a precursor to business success 

Organisations are involved in making hundreds of decisions every day. The decisions they make are a reflection of their values and beliefs, and they are always directed towards a specific purpose. That purpose is the satisfaction of organizational needs. Organizational values reflect how your organization operates in the business world. Successful organizations develop and follow their organizational values. 

For instance – Walt Disney; it is not just among the most recognizable brands in the world, they also are the kindest community on the planet. A brand which is almost synonymous with magic, Disney extends the magical experience even to its employees as a part of the company’s culture. (quoted from surveysparrow blog-7 Fabulous Organizational Culture Examples You Can Learn From!) 

What Sets Them Apart: Unparalleled heritage, pride and culture, wonderful community, amazing growth opportunity, and a creative atmosphere sets them apart, says a Disney employee.  Disney only hires people who align with what their brand stands for. The organizational benefits of being a Disney employee include access to Mickey’s Retreat (an exclusive area accessible only to Cast Members and their families), generous discounts on Disney parks, hotels and merchandise, incentive schemes and private healthcare. Takeaway:  Disney strives to make every place the happiest place to work and is compassionate towards each other. People can tell when their company cares for them and in Disney’s case, employees care back! 

It was Peter Drucker who famously said that Culture eats strategy for breakfast’. No kidding. A work culture can absolutely be the deal-breaker or decisive factor when it comes to defining a company’s success. Great company culture just doesn’t happen on its own. It’s more than mere fun and games. It’s beyond the inspirational quotes and artwork chalked onto the pillar, glowing customer recommendations lining the walls, and bean bags littered across the floor. All that is nice and makes life more pleasant, but it does not change the core of who you are as a company. Great organizational work culture is more than paychecks, fun, and perks. 


HOW TO CREATE A CULTURE AROUND YOUR CORE VALUES 

Company culture is a difficult concept to put into words but it is synonymous with your business environment. Good company culture takes years to develop, but there are some steps that you can take today to get this plan in motion: 

 

1. Pin Down your core values:

Alright! First things first, you need strong core values to set up the base for your company’s culture. Your core values need to be established and ingrained in your company if you are to have a successful company culture. If your core values are not defined, there will be no culture. In the absence of a defined culture, organizations usually form their own culture, which is not based on values and best practices. This can be detrimental to the business image in the long run.

“When I began my startup, I did not have any set values. Personally yes, I had a set of values I operated upon, but however, it didn’t seem necessary to establish company values at such an early stage. Eventually, my business grew and so did my team. I now started seeing the challenge of encouraging the team to make decisions, based on the values I personally embody as guidelines. This became an even bigger challenge with employees who operated remotely. I finally realized the importance of having set company values. However, I kept putting it off since I didn’t know where to begin. But once I sat to actually pen down Moneyjar’s values, it didn’t take more than 15 mins” – Rohan Agarwal (Co-Founder Moneyjar) 

 To create your business values, think about your personal values, business objectives and align them to match it with your workforce potential. See which value-based decisions have kept you on your growth track and which have helped your employees perform better. Keep the ones that serve your indicators of success and match the goals you have chalked out for your business. A quick search on google with also reveals a great set of values you can imbibe.  Go ahead if that suits you, however, remember your values must be tailor-made and should not be more than 3-4 in number. 


2. Identify behaviours that demonstrate these values:

Once you have nailed down your core values, you must bring it into action. Sometimes organizations may be operating under unspoken core values, communicate them formally to the workforce and practise it daily. Daily reinforcement is the best way to form a habit. Identify touchpoints to remind them of these values. Everyday things like setting business hours, determining employee benefits and internal communication with employees, reflects your culture. So, ingrain your values in these decisions from the start. 

Establish Key Behavioural Indicators that demonstrate your core values. For instance, If you are a customer service based company which has adopted “Going the extra mile to achieve customer satisfaction” as a core value, your employees must embody the same value and must be willing to go that extra mile whenever the opportune moment surfaces. 

For example, you have probably heard of the Ritz-Carlton, a hotel chain known for their great customer service. On one particular visit, a mother together with her two children had spent a few days there on vacation, and when they got back home, her son discovered that his beloved stuffed giraffe, Joshie, had gone missing. The boy was devastated, so his parents decided to tell him that “Joshie is just taking an extra-long vacation at the resort.” This conversation was overheard an attendant at the front desk and he took it upon himself to ensure they leave happy. That very same night, the Ritz-Carlton called to tell them that they found Joshie. The relieved parents asked if the staff would mind taking a picture of the giraffe at the hotel to authenticate a fabricated “long vacation” story. After a couple of days, the parents received a package with Joshie and a bunch of pictures that proved Joshie’s prolonged holiday. (quoted from Brand24 blog) (once again keep the formatting same across sections and while quoting another blog also add the link) 

Organizational culture depends largely upon the behaviour of its employees. So you must ensure that employees behave in a fashion that resonates your core values. Not just existing employees, but even new hires should be done keeping in mind the core values, so it becomes easier to integrate them into the organizational setup. Many companies have started carrying out an interview with a culture fitment angle to ensure the right candidate is hired.
 

3. Induct all employees into the values: 

When bringing on new employees or when you update your company values, don’t skip onboarding and training. These are great opportunities for you to set the tone. Talking about your core values periodically can also help you to implement them in your corporate culture. You can send out monthly newsletters that showcase employees who are successful in following your business’s values. Also, you can bring up core values in goals meetings and determine whether you are reaching goals., You can discuss core values during employee performance reviews. Don’t let them get cosy in the corner of your small business. Frame them and hang them on the wall for employees and customers to see. Post them on your website, on your social media pages, and on any other digital front, you can. Many companies proudly display their core values on video walls or television screens in the frontal view of the office, to ensure both employees and customers understand them. Customers/ employees can get an idea of what the organization’s culture will be like basis the values displayed and take decisions accordingly. 


4. Reward employees when they act as per the desired behaviour:

So the values are set, the employees are inducted and business is great! It’s no wonder these thoroughly thought out core values worked like a charm. If you’re thinking you’ve created your business Utopia, think again! Is it enough to just establish a successful culture? Employee Recognition plays an important role when it comes to building a company culture. Once the values are set and let’s say employees strive to adhere to them, then as an organization, it becomes your responsibility to recognize these efforts and reward these behaviours. These values help gauge the performance of employees and recognize their efforts in order to keep them engaged. Acknowledging and rewarding value-based behaviour encourages the employee to perpetuate this behaviour throughout his/her tenure with the organization. When these behaviours are rewarded it creates an emotional connection between the employee and company and they achieve a state of synergy and eventually attain employee engagement.  

 In today’s day and time, employee recognition can be also done digitally which also allows business owners to track individual performance and measure it against core values and reward employees. Such unique platforms provide superior employee engagement, not just among superiors and subordinates but also enhance peer-to-peer engagement. For instance, Let’s Buzzz platform allows peer-to-peer employee appreciation model, where employees across departments and ranks appreciate and recognize fellow employees for demonstrating certain behaviours by buzzing about it and thereby creating a chain reaction of acknowledgement and occasionally nudging whenever a core value is displayed, which in turn leads to driving a value-based culture. Core values are beliefs your business must follow in all aspects of its operations, be it marketing, human resources, administration and finance. They guide decision-making and define what your business stands for. But, if you and your employees fail to uphold your core values, you could face bemused or disappointed customers.  

Fastest finger first quiz for sales

Elevating Sales Success with Fastest Finger First Quizzes

by Sales Incentives

Elevating Sales Success with Fastest Finger First Quizzes

Fastest finger first quiz for sales

In the ever-evolving landscape of sales, where the intersection of learning and competition defines success, the strategy of Fastest Finger First Quizzes emerges as a powerful tool.

This dynamic approach not only engages but elevates knowledge within sales teams. In this blog post, we’ll explore the transformative impact of incorporating Fastest Finger First Quizzes into your sales team’s routine. 

The Power of Fastest Finger First Quizzes    

1. Engaging Learning:  

Fastest Finger First Quizzes transcend traditional learning methods by injecting an element of excitement into the process.

Beyond the acquisition of knowledge, they create memorable experiences, fostering a sense of achievement and making information retention more effective.    

2. Boosting Product Knowledge:  

Beyond a mere exercise, these quizzes significantly elevate product knowledge.

By focusing on specific product details, they contribute to a nuanced understanding that goes beyond surface-level familiarity.

Success stories abound of sales teams experiencing tangible improvements in their expertise.    

3. Fostering Friendly Competition:  

The competitive nature of Fastest Finger First Quizzes isn’t just about outperforming colleagues.

It’s a catalyst for increased collaboration and productivity.

Healthy competition stimulates a sense of accountability and personal growth among team members, fostering an environment of continuous improvement.  

Implementation Tips  

Successfully integrating Fastest Finger First Quizzes into your sales strategy requires thoughtful planning: 

1. Frequency and Timing:  

Consider the optimal frequency for conducting quizzes.

Whether integrated into weekly routines or introduced spontaneously, the element of surprise can enhance excitement.    

2. Reward Systems:  

Dive into diverse reward systems tied to quiz performance.

Aligning achievements with broader incentives, both monetary and non-monetary, can serve as powerful motivators.

Professional development opportunities and public recognition can enhance the overall impact. 

Measuring Success  

Assessing the effectiveness of Fastest Finger First Quizzes involves more than just metrics:     

1. Knowledge Retention:  

Develop strategies for measuring the long-term impact of quizzes on knowledge retention.

Incorporate follow-up quizzes to gauge the application of previously learned information in real-world sales scenarios.    

2. Team Dynamics:  

Explore the broader impact of quizzes on team dynamics.

Team-based quizzes can not only enhance collaborative problem-solving skills but also contribute to improved teamwork and information-sharing.   

Conclusion  

Fastest Finger First Quizzes represent more than just a gamification strategy; they embody a shift toward dynamic, engaging, and effective learning in sales teams.  

As organizations seek innovative ways to motivate and empower their salesforce, these quizzes stand out as a lasting solution.

They foster continuous learning, boost product knowledge, nurture a culture of friendly competition, and create memorable experiences.   

Ready to revolutionize your sales team’s knowledge base and camaraderie?

Reach out today to explore how dynamic and engaging Fastest Finger First Quizzes can seamlessly integrate into your sales gamification strategy, driving success and growth for your team. 

Business values can heavily influence your brand identity and how outsiders view your company. It is therefore imperative that a company has very firm values and the same is embodied in all aspects of their business.  

Let’s begin with a quick recap of what we know about values. Values are individual belief systems that motivate people to act one way or another. They serve as a guide for human behaviour. Generally, people are predisposed to adopt the values that they are raised with. Ethical decision-making often involves weighing values against each other and choosing which values to elevate. Conflicts can result when people have different values, leading to a clash of preferences and priorities. Some values have intrinsic worth, such as love, truth, and freedom. Other values, such as ambition, responsibility, and courage, describe traits or behaviours that are instrumental as a means to an end.  

As an individual, values essentially serve as a guide to growth and development. They help us create the future we want to experience. Much like individuals, organizations also need values directed towards a specific purpose, be it growth, development or business success. These cannot be attained in the absence of a strong value-based organizational culture that embodies it’s core values. 

Strong value-based work culture is a precursor to business success 

Organisations are involved in making hundreds of decisions every day. The decisions they make are a reflection of their values and beliefs, and they are always directed towards a specific purpose. That purpose is the satisfaction of organizational needs. Organizational values reflect how your organization operates in the business world. Successful organizations develop and follow their organizational values. 

For instance – Walt Disney; it is not just among the most recognizable brands in the world, they also are the kindest community on the planet. A brand which is almost synonymous with magic, Disney extends the magical experience even to its employees as a part of the company’s culture. (quoted from surveysparrow blog-7 Fabulous Organizational Culture Examples You Can Learn From!) 

What Sets Them Apart: Unparalleled heritage, pride and culture, wonderful community, amazing growth opportunity, and a creative atmosphere sets them apart, says a Disney employee.  Disney only hires people who align with what their brand stands for. The organizational benefits of being a Disney employee include access to Mickey’s Retreat (an exclusive area accessible only to Cast Members and their families), generous discounts on Disney parks, hotels and merchandise, incentive schemes and private healthcare. Takeaway:  Disney strives to make every place the happiest place to work and is compassionate towards each other. People can tell when their company cares for them and in Disney’s case, employees care back! 

It was Peter Drucker who famously said that Culture eats strategy for breakfast’. No kidding. A work culture can absolutely be the deal-breaker or decisive factor when it comes to defining a company’s success. Great company culture just doesn’t happen on its own. It’s more than mere fun and games. It’s beyond the inspirational quotes and artwork chalked onto the pillar, glowing customer recommendations lining the walls, and bean bags littered across the floor. All that is nice and makes life more pleasant, but it does not change the core of who you are as a company. Great organizational work culture is more than paychecks, fun, and perks. 


HOW TO CREATE A CULTURE AROUND YOUR CORE VALUES 

Company culture is a difficult concept to put into words but it is synonymous with your business environment. Good company culture takes years to develop, but there are some steps that you can take today to get this plan in motion: 

 

1. Pin Down your core values:

Alright! First things first, you need strong core values to set up the base for your company’s culture. Your core values need to be established and ingrained in your company if you are to have a successful company culture. If your core values are not defined, there will be no culture. In the absence of a defined culture, organizations usually form their own culture, which is not based on values and best practices. This can be detrimental to the business image in the long run.

“When I began my startup, I did not have any set values. Personally yes, I had a set of values I operated upon, but however, it didn’t seem necessary to establish company values at such an early stage. Eventually, my business grew and so did my team. I now started seeing the challenge of encouraging the team to make decisions, based on the values I personally embody as guidelines. This became an even bigger challenge with employees who operated remotely. I finally realized the importance of having set company values. However, I kept putting it off since I didn’t know where to begin. But once I sat to actually pen down Moneyjar’s values, it didn’t take more than 15 mins” – Rohan Agarwal (Co-Founder Moneyjar) 

 To create your business values, think about your personal values, business objectives and align them to match it with your workforce potential. See which value-based decisions have kept you on your growth track and which have helped your employees perform better. Keep the ones that serve your indicators of success and match the goals you have chalked out for your business. A quick search on google with also reveals a great set of values you can imbibe.  Go ahead if that suits you, however, remember your values must be tailor-made and should not be more than 3-4 in number. 


2. Identify behaviours that demonstrate these values:

Once you have nailed down your core values, you must bring it into action. Sometimes organizations may be operating under unspoken core values, communicate them formally to the workforce and practise it daily. Daily reinforcement is the best way to form a habit. Identify touchpoints to remind them of these values. Everyday things like setting business hours, determining employee benefits and internal communication with employees, reflects your culture. So, ingrain your values in these decisions from the start. 

Establish Key Behavioural Indicators that demonstrate your core values. For instance, If you are a customer service based company which has adopted “Going the extra mile to achieve customer satisfaction” as a core value, your employees must embody the same value and must be willing to go that extra mile whenever the opportune moment surfaces. 

For example, you have probably heard of the Ritz-Carlton, a hotel chain known for their great customer service. On one particular visit, a mother together with her two children had spent a few days there on vacation, and when they got back home, her son discovered that his beloved stuffed giraffe, Joshie, had gone missing. The boy was devastated, so his parents decided to tell him that “Joshie is just taking an extra-long vacation at the resort.” This conversation was overheard an attendant at the front desk and he took it upon himself to ensure they leave happy. That very same night, the Ritz-Carlton called to tell them that they found Joshie. The relieved parents asked if the staff would mind taking a picture of the giraffe at the hotel to authenticate a fabricated “long vacation” story. After a couple of days, the parents received a package with Joshie and a bunch of pictures that proved Joshie’s prolonged holiday. (quoted from Brand24 blog) (once again keep the formatting same across sections and while quoting another blog also add the link) 

Organizational culture depends largely upon the behaviour of its employees. So you must ensure that employees behave in a fashion that resonates your core values. Not just existing employees, but even new hires should be done keeping in mind the core values, so it becomes easier to integrate them into the organizational setup. Many companies have started carrying out an interview with a culture fitment angle to ensure the right candidate is hired.
 

3. Induct all employees into the values: 

When bringing on new employees or when you update your company values, don’t skip onboarding and training. These are great opportunities for you to set the tone. Talking about your core values periodically can also help you to implement them in your corporate culture. You can send out monthly newsletters that showcase employees who are successful in following your business’s values. Also, you can bring up core values in goals meetings and determine whether you are reaching goals., You can discuss core values during employee performance reviews. Don’t let them get cosy in the corner of your small business. Frame them and hang them on the wall for employees and customers to see. Post them on your website, on your social media pages, and on any other digital front, you can. Many companies proudly display their core values on video walls or television screens in the frontal view of the office, to ensure both employees and customers understand them. Customers/ employees can get an idea of what the organization’s culture will be like basis the values displayed and take decisions accordingly. 


4. Reward employees when they act as per the desired behaviour:

So the values are set, the employees are inducted and business is great! It’s no wonder these thoroughly thought out core values worked like a charm. If you’re thinking you’ve created your business Utopia, think again! Is it enough to just establish a successful culture? Employee Recognition plays an important role when it comes to building a company culture. Once the values are set and let’s say employees strive to adhere to them, then as an organization, it becomes your responsibility to recognize these efforts and reward these behaviours. These values help gauge the performance of employees and recognize their efforts in order to keep them engaged. Acknowledging and rewarding value-based behaviour encourages the employee to perpetuate this behaviour throughout his/her tenure with the organization. When these behaviours are rewarded it creates an emotional connection between the employee and company and they achieve a state of synergy and eventually attain employee engagement.  

 In today’s day and time, employee recognition can be also done digitally which also allows business owners to track individual performance and measure it against core values and reward employees. Such unique platforms provide superior employee engagement, not just among superiors and subordinates but also enhance peer-to-peer engagement. For instance, Let’s Buzzz platform allows peer-to-peer employee appreciation model, where employees across departments and ranks appreciate and recognize fellow employees for demonstrating certain behaviours by buzzing about it and thereby creating a chain reaction of acknowledgement and occasionally nudging whenever a core value is displayed, which in turn leads to driving a value-based culture. Core values are beliefs your business must follow in all aspects of its operations, be it marketing, human resources, administration and finance. They guide decision-making and define what your business stands for. But, if you and your employees fail to uphold your core values, you could face bemused or disappointed customers.  

Incereasing Sales through Incentives Gamification

Level Up Your Incentives with Effective Gamification Strategies

by Sales Incentives

Level Up Your Incentives with Effective Gamification Strategies 

Incereasing Sales through Incentives Gamification

In the fast-paced and competitive world of sales, keeping your teams motivated and achieving targets is essential for business success. One powerful tool that has emerged to drive performance and engagement is gamification. 

In this blog, we’ll explore why gamification is important in sales incentives, five effective gamification strategies for your sales teams, how to measure gamification outputs, and a real-world case study showcasing the impact of gamification on a sales team’s success. 

Why is Gamification Important in Sales Incentives? Gamification isn’t just a buzzword; it’s a game-changer in sales incentives. It taps into the competitive spirit of your sales teams, making everyday tasks exciting challenges.  

Gamification introduces a sense of accomplishment, promotes healthy competition, and ignites motivation. It can turn mundane sales targets into a thrilling journey toward success. 

5 Gamification Strategies for Your Sales Teams: 

Target Meter Challenge: 

  • Strategy: Visualize sales targets as a dynamic meter that fills up as your sales team progresses towards their goals. The closer they get, the more the meter fills up, adding excitement and motivation to their journey. 

  • Example: Imagine a corporate sales team tracking their quarterly targets with a “Goal Progress Bar” that fills as they approach their goals. As the bar reaches 100%, everyone is motivated to work together to reach their target faster. 

Fastest Finger First Quizzes: 

  • Strategy: Encourage your sales team to enhance their product knowledge through engaging quiz competitions. The quickest and most accurate responses win, fostering friendly competition and boosting expertise. 

  • Example: Sales representatives from various industries participate in weekly “Brain Teasers.” These quick quizzes cover general knowledge topics. The top scorers are recognized, motivating everyone to stay informed and competitive. 

Leaderboards: 

  • Strategy: Create a leaderboard system that ranks and recognizes top-performing sales team members. Showcase their achievements and ignite a sense of accomplishment and healthy competition among your team. 

  • Example: In a professional services firm, a “Sales Star Leaderboard” showcases the top performers in generating new business. This recognition encourages friendly competition among team members in different departments. 

Personalized Certificates: 

  • Strategy: Reward top achievers with personalized company certificates tied to reward points. These certificates serve as prestigious badges of honor, instilling a sense of pride and accomplishment. 

  • Example: A B2B sales team celebrates their “Deal Closer of the Month” with a personalized certificate that acknowledges their dedication and success in securing new clients, regardless of the industry. 

Milestone Badges: 

  • Strategy: Introduce milestone badges to recognize and reward sales team members for reaching specific achievements or tenure milestones within your organization. These badges act as visible symbols of accomplishment. 

  • Example: An e-commerce company’s sales team is awarded badges for reaching milestones like “100 Successful Sales,” “2-Year Service,” or “Top Sales in a Quarter.” This not only motivates individuals to reach these milestones but also fosters a sense of achievement and belonging. 

How to Measure Gamification Outputs and KPIs: 

Measuring the effectiveness of your gamification strategies is vital for optimizing performance: 

  • Sales Growth: Track the increase in sales revenue directly attributed to the gamification strategies. Compare sales figures before and after implementation. 

  • Target Achievement Rates: Monitor how often your sales team meets or surpasses their sales targets. Analyze the data over specific periods to identify trends. 

  • Engagement Levels: Use surveys, feedback forms, and analytics tools to measure the engagement of your sales team with the gamification elements. Higher engagement typically correlates with improved performance. 

  • Feedback and Participation: Collect qualitative data from your sales team, asking for their feedback on the gamification strategies. Evaluate their participation and enthusiasm levels. 

  • Retention and Loyalty: Measure the impact of gamification on team retention and brand loyalty. Higher retention and increased loyalty are indicative of successful gamification efforts. 

  • Time-to-Competency: Determine how quickly new sales team members become proficient in their roles with the help of gamification. Reduced onboarding time can be a significant success indicator. 

  • Referrals and Cross-Selling: Analyze the number of referrals and cross-selling opportunities generated through the gamification strategies. This data demonstrates the breadth of your sales team’s capabilities. 

Increasing Engine Oil Sales: A My Incentives Case Study 

In the fiercely competitive world of the engine oil industry, garage owners and operators play a pivotal role in recommending and selling engine oil products.  

 

To ensure that they consistently promote their brand and reach their sales targets, the brand sought a game-changing solution.  

They turned to My Incentives, a leader in gamification and incentive strategies, to address their challenges and boost their sales teams’ performance.

Increasing oil sales with gamified incentives 

The Challenge: 

The brand recognized that garage owners and operators were crucial influencers in the engine oil purchase process. They needed these 500+ influencers to not only meet their targets but also actively promote their engine oil products. However, they faced several challenges: 

  • Lack of Motivation: Garage owners often lacked the motivation to proactively recommend them over competitors, leading to missed sales opportunities. 

  • Target Achievement: Many garage owners struggled to meet their sales targets consistently, impacting their earnings and brand loyalty. 

The My Incentives Solution: 

To address these challenges, they implemented My Incentives’ Target Meter gamification feature, tailored specifically to the needs of their garage owner sales teams. 

The Target Meter Gamification: 

  • Gamified Targets: The Target Meter visually tracked sales targets, akin to an “Engine Performance Dashboard.” As garage owners progressed toward their targets, the meter filled up, sparking motivation and focus. 

  • Transparent Incentive Structure: Thanks to the target meter garage owners could see how many more sales they needed to unlock the next slab of incentives. This transparency provided clarity and motivated them to strive for the next reward level. 

  • Performance Leaderboard: Data was pulled in from the target meter and a leaderboard was established to display top-performing garage owners among their network of 500+ influencers, igniting a sense of accomplishment and healthy competition. 

The Results: 

The implementation of My Incentives’ Target Meter gamification led to substantial improvements for the lubricants brand: 

1. Sales Increase: The brand saw a remarkable 25% increase in sales of their engine oil products. Garage owners were more motivated to actively promote and recommend their products, directly impacting the bottom line. 

2. Target Achievement Improvement: Target achievement rates increased by an impressive 40%. Garage owners consistently met and exceeded their sales targets, leading to higher earnings and a stronger sense of achievement. 

3. Enhanced Transparency in Incentive Structure: Garage owners appreciated the transparency in the incentive structure, knowing exactly what was required to unlock the next level of rewards. This transparency further motivated them to achieve more. 

Conclusion: The Lubricants case study illustrates how My Incentives’ Target Meter gamification effectively transformed garage owners and operators into motivated and high-performing sales teams in the engine oil industry.  

The result was a 25% boost in sales, a 40% improvement in target achievement, and an enhanced level of transparency in the incentive structure. 
 

Drive Your Success with My Incentives: 

Ready to empower your sales teams and achieve remarkable results in the engine oil industry?
 
Contact My Incentives today and discover how our tailored gamification and incentive solutions can elevate your brand’s performance, growth, and transparency in incentive structures. 

Business values can heavily influence your brand identity and how outsiders view your company. It is therefore imperative that a company has very firm values and the same is embodied in all aspects of their business.  

Let’s begin with a quick recap of what we know about values. Values are individual belief systems that motivate people to act one way or another. They serve as a guide for human behaviour. Generally, people are predisposed to adopt the values that they are raised with. Ethical decision-making often involves weighing values against each other and choosing which values to elevate. Conflicts can result when people have different values, leading to a clash of preferences and priorities. Some values have intrinsic worth, such as love, truth, and freedom. Other values, such as ambition, responsibility, and courage, describe traits or behaviours that are instrumental as a means to an end.  

As an individual, values essentially serve as a guide to growth and development. They help us create the future we want to experience. Much like individuals, organizations also need values directed towards a specific purpose, be it growth, development or business success. These cannot be attained in the absence of a strong value-based organizational culture that embodies it’s core values. 

Strong value-based work culture is a precursor to business success 

Organisations are involved in making hundreds of decisions every day. The decisions they make are a reflection of their values and beliefs, and they are always directed towards a specific purpose. That purpose is the satisfaction of organizational needs. Organizational values reflect how your organization operates in the business world. Successful organizations develop and follow their organizational values. 

For instance – Walt Disney; it is not just among the most recognizable brands in the world, they also are the kindest community on the planet. A brand which is almost synonymous with magic, Disney extends the magical experience even to its employees as a part of the company’s culture. (quoted from surveysparrow blog-7 Fabulous Organizational Culture Examples You Can Learn From!) 

What Sets Them Apart: Unparalleled heritage, pride and culture, wonderful community, amazing growth opportunity, and a creative atmosphere sets them apart, says a Disney employee.  Disney only hires people who align with what their brand stands for. The organizational benefits of being a Disney employee include access to Mickey’s Retreat (an exclusive area accessible only to Cast Members and their families), generous discounts on Disney parks, hotels and merchandise, incentive schemes and private healthcare. Takeaway:  Disney strives to make every place the happiest place to work and is compassionate towards each other. People can tell when their company cares for them and in Disney’s case, employees care back! 

It was Peter Drucker who famously said that Culture eats strategy for breakfast’. No kidding. A work culture can absolutely be the deal-breaker or decisive factor when it comes to defining a company’s success. Great company culture just doesn’t happen on its own. It’s more than mere fun and games. It’s beyond the inspirational quotes and artwork chalked onto the pillar, glowing customer recommendations lining the walls, and bean bags littered across the floor. All that is nice and makes life more pleasant, but it does not change the core of who you are as a company. Great organizational work culture is more than paychecks, fun, and perks. 


HOW TO CREATE A CULTURE AROUND YOUR CORE VALUES 

Company culture is a difficult concept to put into words but it is synonymous with your business environment. Good company culture takes years to develop, but there are some steps that you can take today to get this plan in motion: 

 

1. Pin Down your core values:

Alright! First things first, you need strong core values to set up the base for your company’s culture. Your core values need to be established and ingrained in your company if you are to have a successful company culture. If your core values are not defined, there will be no culture. In the absence of a defined culture, organizations usually form their own culture, which is not based on values and best practices. This can be detrimental to the business image in the long run.

“When I began my startup, I did not have any set values. Personally yes, I had a set of values I operated upon, but however, it didn’t seem necessary to establish company values at such an early stage. Eventually, my business grew and so did my team. I now started seeing the challenge of encouraging the team to make decisions, based on the values I personally embody as guidelines. This became an even bigger challenge with employees who operated remotely. I finally realized the importance of having set company values. However, I kept putting it off since I didn’t know where to begin. But once I sat to actually pen down Moneyjar’s values, it didn’t take more than 15 mins” – Rohan Agarwal (Co-Founder Moneyjar) 

 To create your business values, think about your personal values, business objectives and align them to match it with your workforce potential. See which value-based decisions have kept you on your growth track and which have helped your employees perform better. Keep the ones that serve your indicators of success and match the goals you have chalked out for your business. A quick search on google with also reveals a great set of values you can imbibe.  Go ahead if that suits you, however, remember your values must be tailor-made and should not be more than 3-4 in number. 


2. Identify behaviours that demonstrate these values:

Once you have nailed down your core values, you must bring it into action. Sometimes organizations may be operating under unspoken core values, communicate them formally to the workforce and practise it daily. Daily reinforcement is the best way to form a habit. Identify touchpoints to remind them of these values. Everyday things like setting business hours, determining employee benefits and internal communication with employees, reflects your culture. So, ingrain your values in these decisions from the start. 

Establish Key Behavioural Indicators that demonstrate your core values. For instance, If you are a customer service based company which has adopted “Going the extra mile to achieve customer satisfaction” as a core value, your employees must embody the same value and must be willing to go that extra mile whenever the opportune moment surfaces. 

For example, you have probably heard of the Ritz-Carlton, a hotel chain known for their great customer service. On one particular visit, a mother together with her two children had spent a few days there on vacation, and when they got back home, her son discovered that his beloved stuffed giraffe, Joshie, had gone missing. The boy was devastated, so his parents decided to tell him that “Joshie is just taking an extra-long vacation at the resort.” This conversation was overheard an attendant at the front desk and he took it upon himself to ensure they leave happy. That very same night, the Ritz-Carlton called to tell them that they found Joshie. The relieved parents asked if the staff would mind taking a picture of the giraffe at the hotel to authenticate a fabricated “long vacation” story. After a couple of days, the parents received a package with Joshie and a bunch of pictures that proved Joshie’s prolonged holiday. (quoted from Brand24 blog) (once again keep the formatting same across sections and while quoting another blog also add the link) 

Organizational culture depends largely upon the behaviour of its employees. So you must ensure that employees behave in a fashion that resonates your core values. Not just existing employees, but even new hires should be done keeping in mind the core values, so it becomes easier to integrate them into the organizational setup. Many companies have started carrying out an interview with a culture fitment angle to ensure the right candidate is hired.
 

3. Induct all employees into the values: 

When bringing on new employees or when you update your company values, don’t skip onboarding and training. These are great opportunities for you to set the tone. Talking about your core values periodically can also help you to implement them in your corporate culture. You can send out monthly newsletters that showcase employees who are successful in following your business’s values. Also, you can bring up core values in goals meetings and determine whether you are reaching goals., You can discuss core values during employee performance reviews. Don’t let them get cosy in the corner of your small business. Frame them and hang them on the wall for employees and customers to see. Post them on your website, on your social media pages, and on any other digital front, you can. Many companies proudly display their core values on video walls or television screens in the frontal view of the office, to ensure both employees and customers understand them. Customers/ employees can get an idea of what the organization’s culture will be like basis the values displayed and take decisions accordingly. 


4. Reward employees when they act as per the desired behaviour:

So the values are set, the employees are inducted and business is great! It’s no wonder these thoroughly thought out core values worked like a charm. If you’re thinking you’ve created your business Utopia, think again! Is it enough to just establish a successful culture? Employee Recognition plays an important role when it comes to building a company culture. Once the values are set and let’s say employees strive to adhere to them, then as an organization, it becomes your responsibility to recognize these efforts and reward these behaviours. These values help gauge the performance of employees and recognize their efforts in order to keep them engaged. Acknowledging and rewarding value-based behaviour encourages the employee to perpetuate this behaviour throughout his/her tenure with the organization. When these behaviours are rewarded it creates an emotional connection between the employee and company and they achieve a state of synergy and eventually attain employee engagement.  

 In today’s day and time, employee recognition can be also done digitally which also allows business owners to track individual performance and measure it against core values and reward employees. Such unique platforms provide superior employee engagement, not just among superiors and subordinates but also enhance peer-to-peer engagement. For instance, Let’s Buzzz platform allows peer-to-peer employee appreciation model, where employees across departments and ranks appreciate and recognize fellow employees for demonstrating certain behaviours by buzzing about it and thereby creating a chain reaction of acknowledgement and occasionally nudging whenever a core value is displayed, which in turn leads to driving a value-based culture. Core values are beliefs your business must follow in all aspects of its operations, be it marketing, human resources, administration and finance. They guide decision-making and define what your business stands for. But, if you and your employees fail to uphold your core values, you could face bemused or disappointed customers.  

How to calculate sales incentives

Here’s how you track sales commission effectively.

by Sales Incentives

Here's how you track sales commission effectively.

How to calculate sales incentives

How To Create a Company Culture That Illustrates Your Core Values

Sales commissions are incentives paid to sales reps in relation to the sales made by each of them. This payment is in addition to the regular salary component paid to the sales team. Commissions boost the morale of sales reps and motivate them to work better.

However, not all organizations have a proper sales commission system in practice. It is important to track commission payments to regulate the process and make it effective.

In this blog, we will be discussing some ways to make the tracking process effective.

What are sales commission?

Sales commission is a financial incentive given to salespeople when they achieve or surpass their sales targets. It is calculated as a percentage of the revenue generated from their sales activities. Sales commission tracking is the process used by businesses to document sales transactions and calculate the corresponding commissions. This ensures accurate record-keeping and timely payment of commissions. By implementing effective sales commission tracking, companies motivate their salespeople to perform at their best, leading to business growth and expansion.

These are some ways you can track your sales rep’s commissions:

  • Manual tracking:

Traditionally, commission-related data has been recorded manually, including manual computations. However, this process is time-consuming and best suited for small businesses with minimal data volume.

  • Manual spreadsheets:

Another method involves creating and maintaining spreadsheets where sales data is manually entered, commissions are calculated using predetermined formulas, and individual salesperson’s commission earnings are tracked. While this approach is straightforward, it can be time-consuming and prone to errors.

  • Commission tracking software:

To streamline the process, businesses can utilize specialized tools or software designed for commission tracking. These applications offer features such as real-time calculations, data import/export capabilities, customizable commission structures, and comprehensive reporting. Using commission tracking software can minimize errors, save time, and provide valuable insights.

How to make the sales commission tracking process effective?

Here are some tips that could make your tracking process effective:

  • Establish Transparent And Clear Commission Structures:

Ensure that your commission plans are easily understandable by your sales team. Clearly define the commission rates, tiers, and any other factors that may affect the calculations in a detailed manner.

  • Automate The Process:

To fully leverage the benefits of sales commission tracking, it is important to automate the procedure. Automation not only reduces the chances of errors but also saves significant time.

Automated tools simplify complex calculations, eliminating inconsistencies in commission processes. This fosters trust among sales representatives and motivates them to enhance their contributions to the company.

Automated tools are flexible and can easily adapt to changes in commission calculations. Their adaptability makes them highly valuable and efficient.

  • Aligning Commissions and Sales Goals:

 Make sure the commission structure fits with the aims and objectives for sales at your company. The commission scheme ought to encourage the desired actions and results. For instance, you might wish to give more commissions for selling particular goods or hitting predetermined sales goals. To keep the commission structure motivating and relevant, examine it frequently and make changes.

  • Establish Realistic And Achievable Sales Goals: 

Set difficult yet realistic sales goals. Salespeople may get demotivated by unachievable goals, while complacency may result from goals that are simply within reach. When establishing targets, take into account past sales data, market trends, and individual sales representative performance. To keep things fair and motivating, assess your goals frequently and make adjustments.

  • Provide Accurate And Timely Reporting:

 Deliver sales associates with accurate and timely commission reporting. These reports ought to provide a breakdown of their sales results, commission distributions, and commission computations. To make the data more comprehensible and accessible, use graphs and visualizations. Regularly scheduled reports help foster confidence and enable sales people to efficiently monitor their success.

  • Education and Training of Sales Representatives: 

Provide sales representatives with thorough commission tracking training and continuing education. Make sure they comprehend the commission structure, how it is changed, and how to read commission statements. Refresh their knowledge frequently, and handle any issues that arise.

  • Monitor And Assess Each Step: 

Keep an eye out for any potential problems or inconsistencies by routinely monitoring and auditing the commission tracking process. To guarantee accuracy and compliance, periodically evaluate the commission’s data, calculations, and reports. The commission tracking system’s integrity is preserved and sales representatives’ trust is increased as a result.

  • Streamline The Procedure

All stakeholders may easily manage and use a streamlined process. The process can be effectively simplified to ensure that sales representatives are not concerned about their commissions.

  • Simplify The Calculations

The calculations should be made as easy as possible to streamline the procedure. With the numerous software programs available, this is feasible. The software quickly extracts data from spreadsheets and computes sales rep commissions. It speeds up and eliminates errors in the process.

  • Real-Time Updates:

To ensure real-time updates, it is crucial to have a flexible sales commission tracking process. This becomes easier when there is connectivity with a Customer Relationship Management (CRM) system.

Even when dealing with large volumes of data required for calculations, there will be no delay in commission payments. Monitoring and tracking the process effectively is also made simple.

Conclusion

Sales commission tracking software has the potential to revolutionize commission management in businesses. By implementing tracking software, businesses can significantly reduce the administrative workload associated with manual calculations, data entry, and record-keeping. The software automates commission computations based on predefined rules, ensuring accuracy and minimizing errors.

With the software, salespeople can easily access their commission statements, track their progress, and understand their earnings in real-time. This transparency builds trust and provides motivation to the sales team. Moreover, the software generates comprehensive reports that offer valuable insights into sales performance, trends, and commission payments. This empowers organizations to make informed decisions based on data analysis.

Business values can heavily influence your brand identity and how outsiders view your company. It is therefore imperative that a company has very firm values and the same is embodied in all aspects of their business.  

Let’s begin with a quick recap of what we know about values. Values are individual belief systems that motivate people to act one way or another. They serve as a guide for human behaviour. Generally, people are predisposed to adopt the values that they are raised with. Ethical decision-making often involves weighing values against each other and choosing which values to elevate. Conflicts can result when people have different values, leading to a clash of preferences and priorities. Some values have intrinsic worth, such as love, truth, and freedom. Other values, such as ambition, responsibility, and courage, describe traits or behaviours that are instrumental as a means to an end.  

As an individual, values essentially serve as a guide to growth and development. They help us create the future we want to experience. Much like individuals, organizations also need values directed towards a specific purpose, be it growth, development or business success. These cannot be attained in the absence of a strong value-based organizational culture that embodies it’s core values. 

Strong value-based work culture is a precursor to business success 

Organisations are involved in making hundreds of decisions every day. The decisions they make are a reflection of their values and beliefs, and they are always directed towards a specific purpose. That purpose is the satisfaction of organizational needs. Organizational values reflect how your organization operates in the business world. Successful organizations develop and follow their organizational values. 

For instance – Walt Disney; it is not just among the most recognizable brands in the world, they also are the kindest community on the planet. A brand which is almost synonymous with magic, Disney extends the magical experience even to its employees as a part of the company’s culture. (quoted from surveysparrow blog-7 Fabulous Organizational Culture Examples You Can Learn From!) 

What Sets Them Apart: Unparalleled heritage, pride and culture, wonderful community, amazing growth opportunity, and a creative atmosphere sets them apart, says a Disney employee.  Disney only hires people who align with what their brand stands for. The organizational benefits of being a Disney employee include access to Mickey’s Retreat (an exclusive area accessible only to Cast Members and their families), generous discounts on Disney parks, hotels and merchandise, incentive schemes and private healthcare. Takeaway:  Disney strives to make every place the happiest place to work and is compassionate towards each other. People can tell when their company cares for them and in Disney’s case, employees care back! 

It was Peter Drucker who famously said that Culture eats strategy for breakfast’. No kidding. A work culture can absolutely be the deal-breaker or decisive factor when it comes to defining a company’s success. Great company culture just doesn’t happen on its own. It’s more than mere fun and games. It’s beyond the inspirational quotes and artwork chalked onto the pillar, glowing customer recommendations lining the walls, and bean bags littered across the floor. All that is nice and makes life more pleasant, but it does not change the core of who you are as a company. Great organizational work culture is more than paychecks, fun, and perks. 


HOW TO CREATE A CULTURE AROUND YOUR CORE VALUES 

Company culture is a difficult concept to put into words but it is synonymous with your business environment. Good company culture takes years to develop, but there are some steps that you can take today to get this plan in motion: 

 

1. Pin Down your core values:

Alright! First things first, you need strong core values to set up the base for your company’s culture. Your core values need to be established and ingrained in your company if you are to have a successful company culture. If your core values are not defined, there will be no culture. In the absence of a defined culture, organizations usually form their own culture, which is not based on values and best practices. This can be detrimental to the business image in the long run.

“When I began my startup, I did not have any set values. Personally yes, I had a set of values I operated upon, but however, it didn’t seem necessary to establish company values at such an early stage. Eventually, my business grew and so did my team. I now started seeing the challenge of encouraging the team to make decisions, based on the values I personally embody as guidelines. This became an even bigger challenge with employees who operated remotely. I finally realized the importance of having set company values. However, I kept putting it off since I didn’t know where to begin. But once I sat to actually pen down Moneyjar’s values, it didn’t take more than 15 mins” – Rohan Agarwal (Co-Founder Moneyjar) 

 To create your business values, think about your personal values, business objectives and align them to match it with your workforce potential. See which value-based decisions have kept you on your growth track and which have helped your employees perform better. Keep the ones that serve your indicators of success and match the goals you have chalked out for your business. A quick search on google with also reveals a great set of values you can imbibe.  Go ahead if that suits you, however, remember your values must be tailor-made and should not be more than 3-4 in number. 


2. Identify behaviours that demonstrate these values:

Once you have nailed down your core values, you must bring it into action. Sometimes organizations may be operating under unspoken core values, communicate them formally to the workforce and practise it daily. Daily reinforcement is the best way to form a habit. Identify touchpoints to remind them of these values. Everyday things like setting business hours, determining employee benefits and internal communication with employees, reflects your culture. So, ingrain your values in these decisions from the start. 

Establish Key Behavioural Indicators that demonstrate your core values. For instance, If you are a customer service based company which has adopted “Going the extra mile to achieve customer satisfaction” as a core value, your employees must embody the same value and must be willing to go that extra mile whenever the opportune moment surfaces. 

For example, you have probably heard of the Ritz-Carlton, a hotel chain known for their great customer service. On one particular visit, a mother together with her two children had spent a few days there on vacation, and when they got back home, her son discovered that his beloved stuffed giraffe, Joshie, had gone missing. The boy was devastated, so his parents decided to tell him that “Joshie is just taking an extra-long vacation at the resort.” This conversation was overheard an attendant at the front desk and he took it upon himself to ensure they leave happy. That very same night, the Ritz-Carlton called to tell them that they found Joshie. The relieved parents asked if the staff would mind taking a picture of the giraffe at the hotel to authenticate a fabricated “long vacation” story. After a couple of days, the parents received a package with Joshie and a bunch of pictures that proved Joshie’s prolonged holiday. (quoted from Brand24 blog) (once again keep the formatting same across sections and while quoting another blog also add the link) 

Organizational culture depends largely upon the behaviour of its employees. So you must ensure that employees behave in a fashion that resonates your core values. Not just existing employees, but even new hires should be done keeping in mind the core values, so it becomes easier to integrate them into the organizational setup. Many companies have started carrying out an interview with a culture fitment angle to ensure the right candidate is hired.
 

3. Induct all employees into the values: 

When bringing on new employees or when you update your company values, don’t skip onboarding and training. These are great opportunities for you to set the tone. Talking about your core values periodically can also help you to implement them in your corporate culture. You can send out monthly newsletters that showcase employees who are successful in following your business’s values. Also, you can bring up core values in goals meetings and determine whether you are reaching goals., You can discuss core values during employee performance reviews. Don’t let them get cosy in the corner of your small business. Frame them and hang them on the wall for employees and customers to see. Post them on your website, on your social media pages, and on any other digital front, you can. Many companies proudly display their core values on video walls or television screens in the frontal view of the office, to ensure both employees and customers understand them. Customers/ employees can get an idea of what the organization’s culture will be like basis the values displayed and take decisions accordingly. 


4. Reward employees when they act as per the desired behaviour:

So the values are set, the employees are inducted and business is great! It’s no wonder these thoroughly thought out core values worked like a charm. If you’re thinking you’ve created your business Utopia, think again! Is it enough to just establish a successful culture? Employee Recognition plays an important role when it comes to building a company culture. Once the values are set and let’s say employees strive to adhere to them, then as an organization, it becomes your responsibility to recognize these efforts and reward these behaviours. These values help gauge the performance of employees and recognize their efforts in order to keep them engaged. Acknowledging and rewarding value-based behaviour encourages the employee to perpetuate this behaviour throughout his/her tenure with the organization. When these behaviours are rewarded it creates an emotional connection between the employee and company and they achieve a state of synergy and eventually attain employee engagement.  

 In today’s day and time, employee recognition can be also done digitally which also allows business owners to track individual performance and measure it against core values and reward employees. Such unique platforms provide superior employee engagement, not just among superiors and subordinates but also enhance peer-to-peer engagement. For instance, Let’s Buzzz platform allows peer-to-peer employee appreciation model, where employees across departments and ranks appreciate and recognize fellow employees for demonstrating certain behaviours by buzzing about it and thereby creating a chain reaction of acknowledgement and occasionally nudging whenever a core value is displayed, which in turn leads to driving a value-based culture. Core values are beliefs your business must follow in all aspects of its operations, be it marketing, human resources, administration and finance. They guide decision-making and define what your business stands for. But, if you and your employees fail to uphold your core values, you could face bemused or disappointed customers.  

Want to enable sales incentives for your teams? Watch the video and get started

Want to enable sales incentives for your teams? Watch the video and get started

by Sales Incentives

Want to enable sales incentives for your teams? Watch the video and get started

Want to enable sales incentives for your teams? Watch the video and get started

How To Create a Company Culture That Illustrates Your Core Values

In the dynamic world of sales, staying competitive and motivating your team is paramount. Yet, the traditional approach to managing sales incentives often involves tedious manual processes and delays that can hinder your company’s growth.
 
But what if there was a smarter way?
 
Enter My Incentives, a revolutionary solution that’s changing the game in sales incentive management.
 

Effortless Incentive Management

 At My Incentives, we understand the importance of keeping your sales team motivated and focused. That’s why we’ve embraced My Incentives to streamline your incentive management process. This powerful tool automates complex calculations, eliminating the need for cumbersome spreadsheets and manual work. Say goodbye to errors and hello to efficiency!
 

Automated Calculations

 One standout feature of My Incentives is its ability to automate intricate calculations. With this tool, you can trust that your incentive calculations are accurate and delivered promptly, ensuring that your sales team is rewarded for their hard work without delay.
 

Tailored Incentive Plans

But My Incentives is more than just automation. It empowers even non-technical users to create customized incentive plans tailored to your unique needs. It’s about putting you in control of your incentive strategy, not the other way around.
 

Real-Time Insights for Your Sales Team

 With My Incentives, your sales team gains access to real-time insights through a user-friendly interface. They can track their earnings and progress daily, keeping them motivated and driven to achieve their targets. It’s like a gamified experience that keeps everyone engaged and on track.
 
Swift Payouts for Outstanding Performance
 Gone are the days of waiting weeks for incentive payouts. My Incentives automates approvals and ensures that your dedicated sales professionals receive their well-deserved incentives within 2-3 days after month-end. It’s about recognizing exceptional performance promptly.
 
To gain a deeper understanding of how My Incentives works and the transformative impact it can have on your sales incentive program, watch our video above. It provides a brief but comprehensive introduction to this remarkable tool.
 
At My Incentives, we’re committed to innovation and dedicated to empowering your team to achieve remarkable results. My Incentives is just one example of how we’re embracing technology to drive success.
 
Stay tuned for more updates and insights as we continue to evolve our processes and tools to maintain your competitive edge.
 
Join us on this journey of transformation, and let’s elevate your sales incentives together with My Incentives!

Business values can heavily influence your brand identity and how outsiders view your company. It is therefore imperative that a company has very firm values and the same is embodied in all aspects of their business.  

Let’s begin with a quick recap of what we know about values. Values are individual belief systems that motivate people to act one way or another. They serve as a guide for human behaviour. Generally, people are predisposed to adopt the values that they are raised with. Ethical decision-making often involves weighing values against each other and choosing which values to elevate. Conflicts can result when people have different values, leading to a clash of preferences and priorities. Some values have intrinsic worth, such as love, truth, and freedom. Other values, such as ambition, responsibility, and courage, describe traits or behaviours that are instrumental as a means to an end.  

As an individual, values essentially serve as a guide to growth and development. They help us create the future we want to experience. Much like individuals, organizations also need values directed towards a specific purpose, be it growth, development or business success. These cannot be attained in the absence of a strong value-based organizational culture that embodies it’s core values. 

Strong value-based work culture is a precursor to business success 

Organisations are involved in making hundreds of decisions every day. The decisions they make are a reflection of their values and beliefs, and they are always directed towards a specific purpose. That purpose is the satisfaction of organizational needs. Organizational values reflect how your organization operates in the business world. Successful organizations develop and follow their organizational values. 

For instance – Walt Disney; it is not just among the most recognizable brands in the world, they also are the kindest community on the planet. A brand which is almost synonymous with magic, Disney extends the magical experience even to its employees as a part of the company’s culture. (quoted from surveysparrow blog-7 Fabulous Organizational Culture Examples You Can Learn From!) 

What Sets Them Apart: Unparalleled heritage, pride and culture, wonderful community, amazing growth opportunity, and a creative atmosphere sets them apart, says a Disney employee.  Disney only hires people who align with what their brand stands for. The organizational benefits of being a Disney employee include access to Mickey’s Retreat (an exclusive area accessible only to Cast Members and their families), generous discounts on Disney parks, hotels and merchandise, incentive schemes and private healthcare. Takeaway:  Disney strives to make every place the happiest place to work and is compassionate towards each other. People can tell when their company cares for them and in Disney’s case, employees care back! 

It was Peter Drucker who famously said that Culture eats strategy for breakfast’. No kidding. A work culture can absolutely be the deal-breaker or decisive factor when it comes to defining a company’s success. Great company culture just doesn’t happen on its own. It’s more than mere fun and games. It’s beyond the inspirational quotes and artwork chalked onto the pillar, glowing customer recommendations lining the walls, and bean bags littered across the floor. All that is nice and makes life more pleasant, but it does not change the core of who you are as a company. Great organizational work culture is more than paychecks, fun, and perks. 


HOW TO CREATE A CULTURE AROUND YOUR CORE VALUES 

Company culture is a difficult concept to put into words but it is synonymous with your business environment. Good company culture takes years to develop, but there are some steps that you can take today to get this plan in motion: 

 

1. Pin Down your core values:

Alright! First things first, you need strong core values to set up the base for your company’s culture. Your core values need to be established and ingrained in your company if you are to have a successful company culture. If your core values are not defined, there will be no culture. In the absence of a defined culture, organizations usually form their own culture, which is not based on values and best practices. This can be detrimental to the business image in the long run.

“When I began my startup, I did not have any set values. Personally yes, I had a set of values I operated upon, but however, it didn’t seem necessary to establish company values at such an early stage. Eventually, my business grew and so did my team. I now started seeing the challenge of encouraging the team to make decisions, based on the values I personally embody as guidelines. This became an even bigger challenge with employees who operated remotely. I finally realized the importance of having set company values. However, I kept putting it off since I didn’t know where to begin. But once I sat to actually pen down Moneyjar’s values, it didn’t take more than 15 mins” – Rohan Agarwal (Co-Founder Moneyjar) 

 To create your business values, think about your personal values, business objectives and align them to match it with your workforce potential. See which value-based decisions have kept you on your growth track and which have helped your employees perform better. Keep the ones that serve your indicators of success and match the goals you have chalked out for your business. A quick search on google with also reveals a great set of values you can imbibe.  Go ahead if that suits you, however, remember your values must be tailor-made and should not be more than 3-4 in number. 


2. Identify behaviours that demonstrate these values:

Once you have nailed down your core values, you must bring it into action. Sometimes organizations may be operating under unspoken core values, communicate them formally to the workforce and practise it daily. Daily reinforcement is the best way to form a habit. Identify touchpoints to remind them of these values. Everyday things like setting business hours, determining employee benefits and internal communication with employees, reflects your culture. So, ingrain your values in these decisions from the start. 

Establish Key Behavioural Indicators that demonstrate your core values. For instance, If you are a customer service based company which has adopted “Going the extra mile to achieve customer satisfaction” as a core value, your employees must embody the same value and must be willing to go that extra mile whenever the opportune moment surfaces. 

For example, you have probably heard of the Ritz-Carlton, a hotel chain known for their great customer service. On one particular visit, a mother together with her two children had spent a few days there on vacation, and when they got back home, her son discovered that his beloved stuffed giraffe, Joshie, had gone missing. The boy was devastated, so his parents decided to tell him that “Joshie is just taking an extra-long vacation at the resort.” This conversation was overheard an attendant at the front desk and he took it upon himself to ensure they leave happy. That very same night, the Ritz-Carlton called to tell them that they found Joshie. The relieved parents asked if the staff would mind taking a picture of the giraffe at the hotel to authenticate a fabricated “long vacation” story. After a couple of days, the parents received a package with Joshie and a bunch of pictures that proved Joshie’s prolonged holiday. (quoted from Brand24 blog) (once again keep the formatting same across sections and while quoting another blog also add the link) 

Organizational culture depends largely upon the behaviour of its employees. So you must ensure that employees behave in a fashion that resonates your core values. Not just existing employees, but even new hires should be done keeping in mind the core values, so it becomes easier to integrate them into the organizational setup. Many companies have started carrying out an interview with a culture fitment angle to ensure the right candidate is hired.
 

3. Induct all employees into the values: 

When bringing on new employees or when you update your company values, don’t skip onboarding and training. These are great opportunities for you to set the tone. Talking about your core values periodically can also help you to implement them in your corporate culture. You can send out monthly newsletters that showcase employees who are successful in following your business’s values. Also, you can bring up core values in goals meetings and determine whether you are reaching goals., You can discuss core values during employee performance reviews. Don’t let them get cosy in the corner of your small business. Frame them and hang them on the wall for employees and customers to see. Post them on your website, on your social media pages, and on any other digital front, you can. Many companies proudly display their core values on video walls or television screens in the frontal view of the office, to ensure both employees and customers understand them. Customers/ employees can get an idea of what the organization’s culture will be like basis the values displayed and take decisions accordingly. 


4. Reward employees when they act as per the desired behaviour:

So the values are set, the employees are inducted and business is great! It’s no wonder these thoroughly thought out core values worked like a charm. If you’re thinking you’ve created your business Utopia, think again! Is it enough to just establish a successful culture? Employee Recognition plays an important role when it comes to building a company culture. Once the values are set and let’s say employees strive to adhere to them, then as an organization, it becomes your responsibility to recognize these efforts and reward these behaviours. These values help gauge the performance of employees and recognize their efforts in order to keep them engaged. Acknowledging and rewarding value-based behaviour encourages the employee to perpetuate this behaviour throughout his/her tenure with the organization. When these behaviours are rewarded it creates an emotional connection between the employee and company and they achieve a state of synergy and eventually attain employee engagement.  

 In today’s day and time, employee recognition can be also done digitally which also allows business owners to track individual performance and measure it against core values and reward employees. Such unique platforms provide superior employee engagement, not just among superiors and subordinates but also enhance peer-to-peer engagement. For instance, Let’s Buzzz platform allows peer-to-peer employee appreciation model, where employees across departments and ranks appreciate and recognize fellow employees for demonstrating certain behaviours by buzzing about it and thereby creating a chain reaction of acknowledgement and occasionally nudging whenever a core value is displayed, which in turn leads to driving a value-based culture. Core values are beliefs your business must follow in all aspects of its operations, be it marketing, human resources, administration and finance. They guide decision-making and define what your business stands for. But, if you and your employees fail to uphold your core values, you could face bemused or disappointed customers.