Definition

Noun: 1. A financial or non-financial reward offered to a salesperson or sales team for achieving or exceeding a specific sales target: It is a motivational tool used by companies to encourage higher sales performance.

Usage

• A "sales incentive" is a formal business term used to describe a reward structure within sales and marketing.
• It is typically used in the context of business plans, compensation discussions, and performance management.
• It functions as a countable noun (e.g., , ).

Examples

• The company introduced a new sales incentive program offering bonuses for all deals closed in the final quarter.
• To boost revenue, the manager promised a generous sales incentive for anyone who exceeded their quota.
• Non-cash sales incentives, like vacation trips, can be highly effective motivators.

Advanced Usage

• "to qualify for a sales incentive": to meet the necessary conditions to earn the reward.
  • The team worked hard to qualify for the annual sales incentive.
• "sales incentive plan/structure": the formal system outlining how incentives are earned.
  • The new sales incentive plan is more transparent and fair.

Variants and Related Words

• Incentive (noun): A general thing that motivates or encourages someone to do something.
  • The chance for promotion was a strong incentive.
• Sales commission (noun): A related concept, often a percentage of the sale price paid as compensation, which can be part of an incentive structure.
• Bonus (noun): A sum of money added to wages, often as a reward for good performance, which can be a type of sales incentive.

Synonyms

• Sales bonus
• Performance bonus (in a sales context)
• Sales reward

Related Phrases

• To earn an incentive: To gain a reward through performance.
  • She earned a significant incentive for being the top seller.
• Incentive-driven: Motivated primarily by the prospect of rewards.
  • The sales force became more incentive-driven after the new plan was announced.

Noun

1. remuneration offered to a salesperson for exceeding some predetermined sales goal