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Inside and outside sales reps are not only paid on commission, hefty bonuses and kickbacks also motivate them to work even harder. Now, this is where things become a bit tricky so pay close attention. The best thing about this strategy is that it has both intrinsic and extrinsic qualities.
Extrinsically. Her close rate and average revenue per sale are high, but she doesn’t prospect enough. This let her focus on her sales meetings and her productivity increased and close rates skyrocketed. Extrinsically Motivated Salespeople. Extrinsically motivated sales reps are driven by external rewards, such as money.
True or False: Base salary is usually more important than % of commission. Extrinsically motivated salespeople will thrive on a low base and high commission plan while intrinsically motivated salespeople will perform more effectively on a high base with small commission plan. The answers are False, False, True and False.
Today, the data shows that no more than 27% of salespeople are what we now call extrinsically motivated. OMG is able to differentiate between intrinsically motivated and extrinsically motivated salespeople, but how do you manage those who are intrinsically motivated? Performs better when closely managed - or when left alone?
If you’re really a top-notch salesperson deserving that leadership position, prove it and close some deals. Extrinsic Motivation. So the motivation I’m going to discuss in this point is less about inspiring speeches and more about extrinsic motivation, which should be designed around goals and rewards. Ongoing Education.
However, sometimes, extrinsic motivation can be provided to the person for him to complete a task. Now, it may not be a physical product but a service that requires an ongoing relationship with the customers even after the deal is closed. Motivation is not something that is easily found by all. Analytics-based target incentives .
It involves a combination of intrinsic and extrinsic factors that fuel their passion and commitment to delivering outstanding results. Extrinsic Motivation Extrinsic motivation stems from external factors such as rewards, recognition, and incentives. Want To Close Sales Easier?
The crux of his speech: Many of us are oblivious to our own close-mindedness. Commissions, bonuses, other incentives. According to Dan Pink in his 2009 TED Talk, such extrinsic motivators (a.k.a. We picture ourselves as the centers of our own, individual universes, instead of seeing the bigger, more interconnected picture. .
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