Tips for Successful Sales Contests, #3
Just as the punishment should fit the crime, the sales contest reward should fit the achievement. One way to figure out what kind of reward to offer–ask your sales team! They may give you suggestions you’d never think of. Something I’ve learned is, if you run contests frequently, change up the reward, keep it fresh. If you allow the sales contest to settle into something routine, it will cease to energize the staff. Keep in mind too that a well-designed contest should pay for itself. Assuming you have a way to measure performance, the incremental sales revenue should cover (or mostly cover) the cost of the incentive. That’s one reason why offering different prizes for different levels of achievement is a popular approach.
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