Incentives work. Here are two examples I happened across in just the last two weeks, tied to an opportunity that may prove right up your alley.
I heard from a group of Tractor Dealers that an incentive worked wonders for those who saw the benefit of parting with a little cash. Yes, it appears that money still manages to get some people’s attention. How does that old saw go? “You have to spend a little money to make a lot of money.”
I then read in the newspaper that banks are spending money to grease their own personal referral chains. Again, an endorsement for saying “Thank you” with more than hot air.
These two examples got me to thinking about you, and how you might leverage an upcoming opportunity to help fatten your bottom line in the months to come.
I have always shared my feelings on the logic of having agents “earn” a public sign of appreciation. Not to be confused with a “bribe”; I see it quite differently.
If you sell this, you get that. If you sell more of this, you get more of that. Call it a productivity reward if it helps you sleep better at night.
Here’s how this concept just might work for you. Let’s use a river cruise as an example. AmaWaterways offers highly discounted cruises to travel agents to experience their product from a client’s point of view. Ask your agents (or yourself) if they (you) would be interested in this opportunity. If yes, decide what needs to be sold to “earn” the trip.
Don’t give them the reward (spelled “Motivational Educational Experience Of A Lifetime”). Provide them with an opportunity to earn the trip.
Then make it your business as their coach, mentor, leader, and head-honcho to make certain that your agent earns this trip. This can be (and should be) a true win-win-win proposition. The cost of the reward will come from the incremental profits garnered from your selected objective. This is how incentives where designed: giving back a portion of the incremental profits.
Hey! If somebody has to sell more stuff to more locations to more people at more times for more money, why shouldn’t it be you… and your agents?
Incentives work. They might as well start working for you.
Mike Marchev is the author of the sales book titled Become The Exception and is a popular speaker at industry events. You can receive a complimentary copy of his Special Report titled “Your 12-Word Marketing Plan.” Email Mike and put the number “12” in the subject box. Also, ask about his 3rd Annual Training Cruise coming in November. Mike@MikeMarchev.com.