If you're reading this, you've probably already researched incentive programmes for employees or channel partners as a means to drive your bottom line. So what makes BI WORLDWIDE any different to the last agency you spoke to?
Well the answer lies in the science of Behavioural Economics – the understanding of what drives us to do what we do. Let’s start with you: you’re reading this blog because, like most of us, you're a cognitive miser. This means as a human being, you like to speed up the process of finding a satisfactory solution (known as “heuristics” in our world). Agree?
The good news is that you’ve come to the right place
What we do at BI WORLDWIDE is leverage the power of behavioural science to help companies like yours engage and motivate employees and channel partners. Our ultimate aim is to help you optimise your business performance from all angles and deliver measurable results. So how do we achieve this?
Set some goals
Goal setting provides focus, increases the rate of achievement and drives performance. It also provides purpose and a road-map of how to get there. We’ve all heard of SMART goals and how they need to be specific, measurable, attainable, realistic, and time-bound to maximise results. What makes BI WORLDWIDE's sales incentive programmes so successful is how we we combine our understanding of human behaviour with goal setting principles.
Make it ‘specific’
Specific is the “who”, “what”, “where”, “when”, “why” and “how”. But that’s just the basics. The key here is to allow your audience to personalise their sales goals and create an Idiosyncratic Fit wherever possible. In short, an Idiosyncratic Fit describes the emotions you experience when you have a positive advantage over others to earn, achieve or win a reward. If your sales incentive programme doesn't fit your audience, they won't bother to participate in it.
So it comes as no surprise that, when given the opportunity, most people will set higher goals for themselves and will be more committed to the goals they set. 550 BI WORLDWIDE GoalQuest sales incentive programmes have confirmed the effectiveness of this process - when given the choice of three goals, more than 42% selected the highest goal offered.
Ensure your incentive programme is ‘measurable’
Measuring sales progress means that your target audience can track progress and stay motivated. This will help them remain focused, meet target dates, and experience the exhilaration of getting closer to achieving their goal (known as the Goal Gradient Theory). At BI WORLDWIDE, we achieve this through the use of fun, creative and vivid measurement and communications tools such as real-time dashboards, league tables, leader boards and performance-driven communication.