THE ROLE OF SALES CONTESTS AND INCENTIVES IN MOTIVATING SALES TEAMS
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THE ROLE OF SALES CONTESTS AND INCENTIVES IN MOTIVATING SALES TEAMS
This study investigates the role of sales contests and incentives in motivating sales teams. Objectives include: (1) evaluating the impact of contests and incentives on sales performance, (2) analyzing the most effective types of incentives, and (3) assessing the long-term effects on motivation. A survey design is employed to capture a wide range of responses. Using Taro Yamane's formula, the sample size is 350, ensuring comprehensive coverage. The study is conducted in the automotive industry in Lagos, Nigeria. The reliability coefficient score is 0.87, indicating robust measurement consistency. Findings demonstrate that sales contests and incentives significantly boost sales performance, with cash bonuses and recognition being the most effective incentives. However, long-term motivation requires consistent and varied incentive programs. Recommendations include implementing a balanced mix of short-term contests and long-term incentive programs to maintain high levels of motivation.
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