Here are two examples I happened across in just the last two weeks, each 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 saying 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. This physical sign of appreciation serves as an endorsement and says ‘Thank you,’ with more than just hot air.
These two examples got me 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 but when push comes to shove, I guess it is a bribe.
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 any better.
Here’s how this concept might work for you. Let’s use a river cruise as an example. AmaWaterways offers highly attractive cruise prices 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. You give 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.
Now a little dose of reality. There are some people who are in it from 9-5 from Monday to Friday. Period. End of sentence. Incentives, no matter how glamorous will not work for everybody. One secret here is to allow the agent to select their own target, destination, experience or prize.
Mike Marchev is recognized for his down-to-earth, street-savvy and honest delivery of useful sales and marketing advice, suggestions, tactics and strategies. For a complimentary copy of his Special Report titled: 11 Sales Mistakes You Must Avoid send Mike an email with the word TRO-11 in the Subject Box. firstname.lastname@example.org
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