According to behavioral economics professors Dr. Ran Kivetz and Dr. Itamar Simonson, a major reason individuals choose which incentive or loyalty program to join is based on whether or not they identify an idiosyncratic fit.
Idiosyncratic fit is the feeling that you enjoy a unique advantage in achieving a goal, making a sale, beating an opponent, or completing a task. If you are a sales executive, this is a secret weapon you need to know how to use. Every time a salesperson on your team is offered a new incentive or opportunity, they ask themselves two questions to determine if the opportunity “fits” them:
1. Do I believe I have an advantage over others in the program?
2. Are the rewards worth the effort?
When individual members of your team answer yes to these two questions they are most likely to join, and succeed, in a specific program. Convert unproductive behaviors to productive ones using the two questions above, you will move your middle performers in the right direction in as little as two months.
Failure to find this idiosyncratic fit results in reduced confidence and lack of engagement by your sales team. Managers who celebrate and reward only top performers will find themselves frustrated in their efforts and wondering why they
aren’t hitting their goals.
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