If you’re looking for long-term, structured motivation, focus on commissions. SPIFFs are one-time-offered incentive programs. Sales commissions are part of a sales rep’s compensation plan. Salespeople usually earn a base salary plus a commission, typically a percentage of sales.
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What are the different types of sales SPIFFs?
Businesses have many options for choosing SPIFFs for their sales teams. Let’s look at a few:
Cash SPIFFs: Sales reps are rewarded with a direct cash bonus for hitting their goals.
Ideal for: Immediate motivation and sales teams driven by financial rewards
Non-cash SPIFFs: Like gift cards, event afghanistan phone number list tickets, travel experiences, electronics, or PTO
Ideal for: Acknowledging diverse bonus preferences. For example, you might survey your team to determine what kinds of non-cash bonuses interest them and plan SPIFFs based on their input.
Tiered SPIFFs: Offer different levels of rewards based on how well salespeople perform.
Ideal for: Motivating individuals and teams to push beyond the minimum goal
Mystery SPIFFs: Keep salespeople guessing until the end of the promotion period.
Ideal for: Building anticipation and excitement by adding a playful element to motivation strategies
Benefits of SPIFFs and when to use them
When your business can’t seem to get over the hump for meeting necessary sales targets on deadline, SPIFFs are a great tool to lean on. Beyond the obvious of increasing sales, SPIFFS can help you.