If executed correctly, a SPIFF (Sales Performance Incentive Funding Formula) program can jump start new sales. Here are 4 reasons why:
- Motivation: SPIFF programs can motivate sales teams to achieve specific goals or targets by offering additional incentives. This can boost morale and drive increased effort to meet or exceed sales targets.
- Focus on Key Products or Services: SPIFFs can be tailored to promote the sale of particular products or services, helping the company focus on key offerings and boosting overall revenue.
- Quick Results: SPIFF programs often provide immediate rewards, which can lead to faster results. This can be beneficial when the company needs a quick boost in sales or wants to capitalize on a specific market opportunity.
- Flexibility: SPIFFs can be customized based on the company's current needs or objectives, providing flexibility in adjusting the incentive structure to align with changing business priorities.
In summary, SPIFF programs can be effective in motivating sales teams and driving short-term results.
We invite you to Contact Us to start a discussion on how we can successfully manage a SPIFF program for you.
