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Retaining Top Personnel MOTIVATION |
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 The Cost of Turnover Orientation Motivation Coaching and Mentoring Training Goal Setting Performance Assessment Resignation and Termination More Resources: Retaining Top Personnel Code of Ethics: Retaining Top Personnel |
"9 Steps to a Successful Contest," by Herbert Conley Jr., and Matt Johnson, Real Estate Today, February 1994, p. 24-25. Reproduced with permission of the copyright owner. Further reproduction or distribution without permission is prohibited. 9 Steps to a Successful Contest Your best bet might be to get your salespeople to work in tandem, not against one another. BY HERBERT CONLEY JR., AND MATT JOHNSON Frankly, Mary’s sales contest failed miserably. It offered only one prize—to the company’s top salesperson for the quarter. The rest of the company’s salespeople figured, with good reason, that the star salesperson for the past six years, Julie, would win, so they didn’t even try for the prize. If that problem sounds familiar, (as Yogi Berra said, “It’s déjà vu all over again!”), perhaps next time you should set up a group incentive program. A group program entices salespeople to work together because it rewards all of them if the company reaches its sales goal. And if the program is done well, it can also create loyalty, increase sales and your company’s market share, build camaraderie, help your recruiting, and generate publicity. Take these nine steps to create an effective sales program: 1. Decide on the prize. Ideally, your salespeople should choose a prize they’re willing to work for. One idea is to list possible prizes and then have salespeople vote on them. You can choose the prize, but if you do, make sure it’s something that drives your salespeople to produce, such as a retreat or vacation, new computer equipment, a charitable contribution, bonuses, or salaries for personal assistants. 2. Set the target. This is your job. Most companies base it on sales production—total dollar volume of new sales, units sold, or new listings. Whatever measure you use, make sure the target is a percentage increase in production during a month or quarter, an increase in market share, or an increase in production per salesperson. And be sure the increases are high enough to cover the prize and any other expenses you’ll incur for the program. 3. Divide the target. Your program will be more effective if you divide the target into smaller marks for individuals or teams. When you divide your sales force into teams, you foster fun and competition, especially if you offer prizes for the winning teams. And when you give all salespeople or teams a share of the goal, you help them stay focused on their own production. 4. Promote the program. You need to keep salespeople focused, so create a countdown chart to display the group’s progress. And display brochures or pictures of the rewards to constantly remind your salespeople what the group is working for. You can also have a creative office staffer or salesperson write a spirited weekly newsletter that recaps sales activity, team standings, sales stars, and any changes or updates to the program. Or, you can distribute a roster of all salespeople and their production, which creates peer pressure. Use your weekly sales meeting as a rallying point. Display the updates countdown chart and recognize each salesperson who gets a new sale or listing that week. You can also hold a drawing at each meeting. Make every new sale or listing worth one entry, and give a prize that’s tied in with the grand prize. For instance, if your award is a ski weekend, give a ski cap or a pair of gloves. 5. Organize group prospecting efforts.To help ensure that your salespeople are prospecting for new business, organize regular telemarketing time at the office and offer food or refreshments as an incentive for salespeople to participate. 6. Help generate leads. Show that you’ll help salespeople reach the goal by having an office staffer scan the classified ads and clip all FSBO ads as well as check the MLS for expired listings each day. Then give the leads to your salespeople to follow up on. 7. Offer workshops and training sessions. Make sure you give salespeople the tools, techniques, and support they need to succeed with company training. And make sure you ask salespeople to share ideas with one another. 8. Encourage and support your salespeople. Write a personal note of thanks and congratulations to salespeople who generate new sales or listings. And periodically meet with or call salespeople to discuss their progress and offer support. 9. Publicize your program. Send a news release to local media describing your program and how it benefits your salespeople. Remember, you’ll get even better publicity if your award benefits the public—if it’s a computer or continuing education for all salespeople so that they can offer improved service or it’s a large charitable contribution that improves the community. Reporters usually welcome good news, so once the program increases production, follow up with another release and telephone calls to let reporters know about your success. If you plan and execute your contest well, perhaps you’ll avoid that sinking feeling of déjà vu all over again. Herbert Conley Jr., GRI, CRB, is president and Matt Johnson, GRI, CRS, marketing director of Conley Dew, REALTORS®, in Honolulu, Hawaii The Challenge: Increase Sales by 25 Percent Conley Dew, REALTORS®, held its contest during the first quarter of 1993. How did it “dew”? Here are the specifics: · The goal—To generate $45 million in new sales, 112 new units, or a 25 percent increase in sales over the same quarter the previous year. · The award—An all expense-paid three-day stay at a five-star resort on the Hawaiian island of Lanai. · The cost of the program—For both contest promotion and the award, a total of $36,000. · The result—New sales totaling $52 million, or a 43 percent increase in sales over the same quarter the previous year. 9 Steps to a Successful Contest, by Herbert Conley Jr., and Matt Johnson, Real Estate Today, February 1994, p. 24-25. Reproduced with permission of the copyright owner. Further reproduction or distribution without permission is prohibited. Coaching and Mentoring > |
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