What is a SPIFF?
SPIFFs are short-term incentives targeted at individual sales reps, to accelerate sales of a particular set of products within a specific span of time. Also known as channel incentive programs and sales incentive programs, Spiffs ensure performance improvements, measurable results and engaged participants.
Spiff Program Design
To design the most successful spiff program, consider the key performance indicators that determine the type of behaviors and results you are looking to achieve from your audience. Designing a spiff program includes analyzing past performance, discovering key drivers, and writting effective spiff contest rules. Most companies find it best to partner with an incentive program supplier to assist with the design and management of the program. Incentive Program suppliers can help you:
- Diagnose key performance drivers
- Design an incentive program model that best meets your unique needs
- Provide custom theme development
- Help with determining the best mix of awards for your audience
- Assist with building effective incentive program terms and rules
- Design and fulfill communications and collateral such as teasers, announcements, updates, and interactive tools
- Provide you with custom incentive program website development
If you would like more information on choosing an incentive program supplier, here are some helpful guidelines.
Spiff programs (or incentive programs) are a fundamental element of sales management and can serve many useful purposes. Incentive programs can provide general motivation of the sales force, or they can be employed to improve performance in specific areas. Spiff programs can also be used to achieve a new direction, or to encourage sales employees to acquire new skills. The appropriate type and structure of an incentive program is dictated by your objectives and the time line involved, as well as other factors.