bydmrindahl12-06-201006:47 AM - edited 12-06-201008:28 AM
Over the years I’ve realized how much of an impact contests have in driving sales performance. Contests should be created to focus on a specific sales goal or deficiency. Moreover, contests should be structured around how quickly you need results. For example, if you need quick results, then a daily contest might be well suited for your needs. Alternately, if you need monthly or quarterly results, then a monthly contest may be better suited for your needs. Below are two contest ideas that have worked for our sales teams.
#1 Daily Contest
Why: A sales team needs to immediately improve in a specific sales area to meet/exceed a specific sales goal. Thus, an immediate behavioral change is needed.
Incentive: Cash works best!
Sales Tip: Showcase a specific $$$ amount to the sales team.
Sales Tip: Pay each person out until the money is gone.
Sales Tip: Ensure sales professionals are recognized as $$$ are awarded.
Sales Tip: This is fun for sales professionals as many share a competitive spirit & often will be thinking; “who will win the money before it’s gone?”
Example: If a department is not meeting its revenue objective for bundling products with other products & services, then incentivize by paying out $$$ for each bundled product / service sold.
Tracking: This is critical! Anytime someone wins money send out an email to everyone with the amount of money left. This creates a sense of urgency to drive that behavior and make the sales.
#1 Monthly Contest
Why: A sales team needs to improve in a specific area within a month or quarter to meet/exceed a specific sales goal. Thus, a monthly behavioral change is needed.
Incentive: Electronics work best!
Assuming: You have the budget & your sales team enjoys gadgets.
Example Incentives: iPad, iPod, iTouch, Camera, T.V., etc…
Sales Tip: Showcase the prize! Purchase it & put it out for everyone to see until the end of the contest. The visual of seeing the prize helps tremendously.
Sales Tip: Make a big deal of each prize winner the day you give it away. This sets the tone for the next contest you do.
Example: If a department needs to increase revenue to support a difficult sales goal, then this is a great way to drive targeted results. For example, if you are trying to increase revenue by upselling to a higher end product, then this is a great way to meet/exceed your sales goal.
Tracking: This is critical! Sales professionals like to see reports on their progress & since this is a longer contest it’s important to keep it in the forefront of their mind.