Page 111 - 101 Ways to Market Your Business

101 WAYS TO MARKET YOUR BUSINESS

38 Offer incentives based on results

Many business operators believe that paying a person a
wage should be incentive enough for them to perform at
their peak. Unfortunately this is generally not the case.
Most businesses could increase revenue dramatically if their
staff sold more product. Once your staff know how to sell
try giving them an incentive to sell—your business will
ultimately receive the benefits.

Incentives can take three forms:

1. financial;
2. recognition; and
3. responsibility.

1. Financial Offer your staff some form of financial ben-
efits to sell more. I have worked in several companies where
some staff have been on salary only and some are on a
salary plus commission. Without exception far better sales
were achieved from the people on a salary plus commission.

The reality of the situation is that people are generally
far more concerned with their own financial wellbeing than
the financial wellbeing of the company they are working
for—it’s human nature. If you can structure a financial
incentive for your staff based on their performance you
may be surprised by the increase in sales.
2. Recognition Implement a staff member of the month
scheme. If your business does not have a recognition pro-
gram like this think about instigating one. Research often
shows that people want to feel important. You can do this
by saying thank you for a job well done. If you can offer
a prize of some sort all the better. Once again look at the
large companies like McDonald’s. Whenever you walk in
the door there is a photo of the staff member of the month,
in a high profile position. Imagine how proud that indi-
vidual staff member will feel.

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