6 Business Benefits of Using Sales Leaderboard Software
The hype around gamification has reached an all-time high. We’re gamifying everything we can; from marketing to customers, to marketing to potential employees.
However, nowhere is gamification as effective as it is in sales.
Even a simple feature like a leaderboard can go a long way towards improving both the intrinsic and extrinsic motivation of our employees.
But what are the other benefits of using sales leaderboard software for our business? Does it really improve results?
Let’s take a look!
1. Sales Leaderboard Software Improves Job Satisfaction
Even the best sales representatives burn out. In fact, they’re burning out more and more due to increased pressure and decreased job satisfaction.
This leads us to the situation we’re facing today: the annual turnover of salespeople is over 20%.
And since amazing sales representatives mean amazing results, it’s in our best interest to retain them. Especially when we factor in very high onboarding costs, which can reach up to $40,000.
Using gamified leaderboards for the sales team helps stimulate employee engagement.
When employees have a clear way of tracking how far they’ve come, and when their results seem more tangible, they’re more likely to feel satisfied with their jobs.
In turn, they’re more likely to stay loyal to our company, helping us increase our retention rate and reduce costs.
2. Improved Employee Performance
When an employee is under-performing, our businesses face grave costs. Not only are their results impaired, but they also have a bad effect on the rest of the sales team. And all of this results in costs up to $500,000 per year.
Our best option is prevention.
And as far as methods for improving performance go, implementing gamification through sales leaderboards is one of the best.
The main reason is the ability for sales reps to compare their performance with others.
When sales reps can compete with each other and measure their performance against others’, it directly influences their extrinsic motivation.
Or, to put it in simple terms: we want to do better than everyone else.
3. It’s Easier to Track Results
Most of us only have the time to track individual results during the annual evaluation. Before that, we take a look at team-wide results.
However, sales leaderboards can also track employee performance in real-time, as well as compare performance between teams and sales reps.
All of this makes for a great analytical mix of factors we can use to define how our salespeople’s success chances. We can also identify top performers who may benefit from a promotion, and define pain points to optimize.
This way, sales leaderboards like the ones Spinify offers can improve our decision-making and our company’s results in the long run.
4. Gamification in Business Improves Productivity
While sales is a dynamic field, it’s still full of repetitive tasks. Even the best performers can get that glazed-over look in their eyes when they’re dialing yet another number, or writing up another report.
Sales leaderboard software helps energize our sales team.
When new mechanics are introduced into the process (especially game-like mechanics), everyone’s suddenly alert.
Employees may be completing repetitive tasks, but if their progress is being tracked on a leaderboard and they can visualize how it helps them achieve an important task, it stops being so boring.
It’s even better when different tiers and badges are added. After all, status and rewards are one of the most important motivators for humans.
5. Sales Leaderboards Reduce Stress in the Workplace
Not only do sales leaderboards encourage healthy competition that leads to improved performance, but they also reduce stress in the workplace.
When colleagues are able to compete in a more relaxed way, while feeling more achieved, there won’t be any reason to take sick days.
And having in mind that stress in the workplace costs US companies as much as $300 billion annually, it’s in our best interest to reduce it.
6. Sales Leaderboards and Scaling
Finally, our businesses will scale at some point. It’s what we dream of.
However, if we want to get there, we need our sales reps in top shape, as well as defined processes that will help us train people just like them when the number of clients is high enough.
In addition to motivational abilities, sales leaderboards we can get with Spinify also allow for the tracking of different KPIs across different targets and goals.
We can see what works in our sales teams, and what doesn’t. We can even see the employees’ results in different situations, showing us exactly what we need to optimize in order to scale.
It’s transparency, across the board. And starting is as simple as creating a sales leaderboard.
Put those insights into practice.
Set your team up for success by improving their performance through gamification.
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