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Effective Sales Incentives: The $1,000 Rule by Mark Maloney on BoneChat short

23 Sept 2024 · 1 min

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Mark Maloney argues sales incentives need to hit $1,000 minimum to move six-figure earners. Gift cards under $500 don't work. His products each generate six-figure revenue, competing with Arthrex and Smith & Nephew, and he uses bigger payouts as a door-opener to locked accounts.

Chapters

I never had a bonus program produce results unless the number was at least $1,000, because most of the guys I'm trying to tempt already make six figures, right? And you talk about a $250 gift card or $500 gift card, you know, they're just going to shrug that. And they look at every product annually. We got, we now have an extremely competitive bag to go up against Arthrex and Smith Nephew. And they, they look at each product as an annual number, and most of those products hit six figures annually. But I like the idea of— I, I love the idea of being a door opener to otherwise an impenetrable account.