NEWS
7 secrets to sales success
Need to spark sales? Increase your market share? Motivate your salespeople?
Rewards Online can turbocharge your sales force so you can boost sales during slow seasons, create focus on new or special products, generate team spirit, and sharpen competitive drive. We know why sales incentive programs succeed - and why they fail. We've used this knowledge to create "7 Secrets to Sales Incentive Success," an easy-to-read guide packed with the following valuable tips that will help make your next incentive program a success.
Secret 1: Cash Is Not King - Maslow knew how to motivate a sales team.
Secret 2: The A-B-C's of Motivation - Motivate the middle to maximize results.
Secret 3: "What's in It for Me?" - Make your rewards personal.
Secret 4: Get S.M.A.R.T.! - Craft realistic goals for a successful program.
Secret 5: Now Hear This! - Communication determines whether your program sizzles, or fizzles.
Secret 6: Give, and You'll Receive - Incremental rewards keep the program growing.
Secret 7: Shine the Spotlight - Celebrate success and recognize the winners.
Rewards Online White Paper
A 2007 report commissioned by the Australian Government titled “2020 Vision, The Manager of the 21st Century”, suggested that Australian managers of 2020 will need very different skills compared to today’s business leaders (The Boston Consulting Group). The report identifies major changes in the business environment up to 2020. These are:
10 Steps to set up a Permission Marketing Campaign
1. Figure out the lifetime value of a new customer.
The Ford Motor Company has calculated that a loyal customer is worth $142,000 over their lifetime.
Domino's Pizza chain estimates that a loyal customer is worth about $5000 over the 10 year life of a franchise.
According to marketing commentators Kevin Clancy and Peter Krieg, a loyal customer is worth 5 times more than a new customer but too many companies are preoccupied with customer acquisition strategies rather than rewarding loyal customers.
2. Invent and build a series of communication suites that you can use to turn strangers into friends. This would be a series of emails, letters, scripts, webpages, surverys, trivia, quizzes etc. Easily the best way to do this is through a rewards program.
Essential to each suite are 4 elements:
Are you an interrupter
Are you wasting your time with interruption marketing techniques that just don't work in today's cluttered marketplace?
Over the last 30 years, advertisers have dramatically increased their ad spend and noise levels in a mass market that is interrupted by over 3000 messages per day.
If you are spending most of your marketing budget on TV, radio. magazine, newspaper and similar above the line techniques you're probably wasting more money than you think. Targetting customers individually is not as expensive as before because of the information age.
Rewards Programs set to boom
If you thought you'd seen a huge increase in the number of fly buys, loyalty programs, frequent flyers and rewards schemes, well, brace yourself because you ain't seen nothing yet.
Loyalty and Rewards programs are here to stay and set to boom even further. Reward and Loyalty programs started becoming popular in the 1980s. Essentially, they are a marketing tool that serves one or more of the following purposes: