Pay Your Salespeople for Reading the Script

Summary

• When I revised a company's sales script, we increased the customer lifetime value (LTV) by 5 times.
• To encourage the sales team to use the new script, I suggested giving them an extra $5 every time they used it, on top of their regular commission.
• This small incentive of $5 made a significant impact on their behavior, showing that sometimes, a little approval can be highly motivating.
• Salespeople started focusing on ensuring they earned the $5, demonstrating it wasn’t just about the money but also about getting recognition for following the process.
• This approach proved that incentivizing small actions can promote larger goals and enhance overall performance.

Video

How To Take Action

I would suggest revamping your sales script just like I did for that company, and here's how you can make it work. First, focus on updating one part of your sales process that could really impact how much money your business makes from each customer over time. For example, if you get the script right, it could even increase your customer value by up to five times like it did for them!

Now to get your team pumped about using this new script, consider a fun little bonus. It doesn't have to be huge; even $5 can work magic. Why? When you offer them an extra $5 every single time they stick to the script, they not only gun for that sweet commission from making a sale but also that quick cash for following the process.

Remember, it's not just about the extra money – it’s also like giving them a high five for doing things right. This makes them feel valued and it'll make them want to do it even more. They'll be bugging you to make sure they get their well-earned reward!

So, by encouraging these small steps with incentives, you’re not only making sure they stick to the script but also boosting your whole sales game. It might seem simple, but this tactic can lead to better habits, more motivation, and a team that's all about getting results. Give it a try, and you might just see your performance shoot through the roof!

Quotes by Alex Hormozi

"I rewrote their sales script we 5x LTV so I was fun"

– Alex Hormozi

"how do we get them to do it I was like pay them $5 every time they read the script"

– Alex Hormozi

"they can also get their commission if they close but they get $5 no matter what if they read the script"

– Alex Hormozi

"they're getting $50 on the sale but they want to know if they got the five bucks"

– Alex Hormozi

"the $5 becomes a proxy for approval and so they like did I do a good job"

– Alex Hormozi

Full Transcript

I rewrote their sales script we 5x LTV so I was fun they're like okay so how do we get them to do it I was like pay them $5 every time they read the script and they can also get their commission if they close but they get $5 no matter what if they read the script guess what they're harassing their sales managers about did I get the $5 for the script they they're getting $50 on the sale but they want to know if they got the five bucks they want to know because what happens is the $5 do becomes a proxy for approval and so they like did I do a good job