Lead generation can be a hard task. Employees on the lead generation team face a lot of rejection, and it’s easy to get worn down. When done right, employee incentives can encourage top performers to keep improving. Not only can a strong incentive program maximize productivity among your lead generators, but it can also keep them happy and satisfied.
Cash bonuses are an effective incentive for many employees, especially younger workers who depend on extra cash to pay bills. Give out bonuses regularly and encourage friendly competition. Establish a minimum threshold that employees must reach to be eligible for bonuses, but don’t cap rewards for those who go above quota. While digital marketing can be an effective medium for lead generation, it’s important to make sure your lead generation team knows how to make the most of digital media to drum up new business.
How to Structure Your Incentive Program
An employee incentive program can benefit your business in many ways. It can help keep turnover low, while attracting the best candidates to apply for open positions. Incentives mean that employees are more likely to care about their work, which will cause them to work harder and increase productivity. But, in order to reap these benefits, you need to structure your incentive program well.
Start by paying your lead generation team their bonuses, preferably on a monthly basis. Many members of the team will need this money to pay rent, bills, and student loans, so a regular payout will keep everyone motivated and reduce overall stress levels. Of course, you’ll need to take some extra steps to make sure your lead generation team is truly effective.
Encouraging friendly competition between team members can keep everyone motivated. Set up weekly challenges that encourage top performers, like “Whoever speaks to the most C-level executives this week wins Friday afternoon off” or “Whoever generates the most leads this week wins an extra $50.”
One of the big challenges of motivating a lead generation team is keeping everyone motivated to do their best. Capping bonuses is a good way to encourage your best lead generators to cap their performance. Establish a minimum threshold that employees must pass to receive a bonus. A minimum of 50 percent of quota should be reasonable for most employees.
Incentivize Digital Lead Generation
These days, much of marketing, sales, and customer lead generation happens online. Digital marketing strategies can be extremely effective for lead generation. Like traditional techniques, they need to be properly incentivized. It is not a good idea to assume that employees, even young employees, know the best way to use digital marketing and social media for lead generation.
Begin by creating a clear and unambiguous company policy that governs what can and cannot be said on company social media by employees acting as representatives of your company. Employees may need some training in how to use different social media platforms, especially how to politely respond to user reviews and comments, even unpleasant ones.
Employee incentives are an especially effective way to keep your lead generation team motivated to do their best. Make sure you structure your incentive program well and your whole company will reap the rewards.