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Sales Incentive Programs

Dear Salespeople,

I know you need your daily dose of knowledge of information today so here I am at your service, sharing another great video that I just saw from YouTube (where else?). The topic we have in the video is about sales incentives. Does this excite you? Well, I bet it does! Who doesn’t want it? We all want it right? Companies need it too! They need it to increase staff performance. So it helps everyone, one way or another. Well, I will just let this video talk. This was uploaded by LoyalNationVideos and entitled “Sales Incentive Programs from LoyalNation”. Watch it!

 

Sales Incentive Programs from LoyalNation

By LoyalNationVideos

 

The speaker speaks about the old saying “Money doesn’t buy happiness” and he followed it up with “neither poverty”. All I can say is “hell yeah!”

Well, this is his intro to sales incentive. He said that even though we work for money, it is still not about money. It is about the passion to win. Actually sales incentives creates a healthy competition inside the company and it is great to see that everyone is doing his best to get it and to be the best and there’s nothing wrong with that. It maximizes the potential of the team all year.

The video was cut out but the information is already given. Tell us now, are you driven by sales incentive? If you are a sales manager, do you find sales incentive program helpful? Share us your thoughts!

 

 

Cheers,

 

Jack

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Earn by Making Client Feel Good

Hey Pals,

What’s up? Is everyone in the good mood this very moment? I stumble upon a short post from the ChangingMinds Blog and it makes me smile and I believe this will also set you into a good mood. What the author said in the blog is true. The post is simple but the meaning is deep. The mirror symbolizes a simple incentives marketing. You make people feel good and therefore they will keep on coming back to you and here is where the business started. Make profit by making people feel good. Here is the whole blog.

The flattering mirror

I went into a restaurant recently with my wife, who went to the bathroom and came back looking rather pleased. I asked her what was up and she told me there was a ‘nice mirror’ in the bathroom. She had looked at herself in it and somehow she seemed to look better than usual.

My wife always looks good and is not vain, and her observation stood out because she very seldom makes such comments. She is very observant, so clearly something was different. We chatted about what might be the cause and came up with thoughts, such as the possibility of less harsh lighting than usual (bathrooms are often quite stark), a slightly concave mirror (which would make people look a little thinner), and a slight ripple in the glass that softens the reflected image.

Whatever the cause, I wondered if it was deliberate and thought it a brilliantly simple way of creating happy customers. How many people have gone to the bathroom there and left with a warm glow, perhaps not realizing why, and then transferring the good feelings to the restaurant and the food? Of course the result would likely be them returning there and recommending it to others. And all because some smart person thought of a neat way to make customers feel good.

And what about mirror manufacturers? And home bathroom designers? You could sell such mirrors into many places. There’s a simple equation here: Making customers feel good = more business, more profit. Anyone with customers can consider at everything the customer does when connected in any way with the brand and think: How can I make them feel good here?

Does this post make you feel good? Do you know how to make people feel good about your product or services? This is very essential because our customers are our boss and they are the one who will keep us on the business. Love to hear your thoughts about it!

 

Always,

Jack

 

Benefit of Social Discovery

Hey Guys!

Every day is a gift right? The moment you wake and you realize that you still have another day to live is already a gift so we should always be thankful and do our best each day. Speaking of gift, I have a gift for you. This is a piece of information I got from Reachable blog (@Reach_able) that was written by Greg Fiorindo. This blog talks about relationship in business, on how social interaction with clients can bring revenue to the company. The author also discussed about giving team incentives for the team who bring revenue to the company by inputting data to the CRM. Now, here is the entire blog!

Social Discovery of Business Relationships

By Greg Fiorindo

Enterprises big and small are realizing that the capabilities introduced in consumer social networks can add immense value and productivity to the corporate world.  The growth in adoption of enterprise social networking tools like Yammer, Chatter and Jive is evidence that the way companies communicate internally among employees and externally with customers and partners is changing dramatically and permanently.

One of the fundamental reasons for this change is the benefit of social discovery.  Social techniques like groups, feeds, @mentions, and hash tagging enable employees to effortlessly discover content, expertise and information from across the company in ways that email just can’t touch.  There is a 2-day conference going on right now in San Francisco dedicated to this topic of social discovery.

So why don’t CRM systems to a better job of allowing Sales Professionals to discover social relationships?  Companies spend an incredible amount of effort, time, and money getting their sales professionals to enter Contacts, and update Opportunities.  Shouldn’t there be a reward for the teams on the front line driving revenue for inputting data into CRM?

After 10 years in sales & sales management at Salesforce.com having seen SFA implementations big and small, simple and complex, I believe there should be much more reward and insights available to the selling professionals, and it should come from a company’s enterprise social graph.  The enterprise social graph simply stated is every relationship of every employee, customer and partner your company has, on line and off.  With all the efforts being invested in social media, one of the most valuable assets a company has, it’s collection of relationships, is being overlooked.  Layering your enterprise social graph into CRM can add powerful social discovery into the simplest of tasks that can answer important questions during a sales pursuit, and can drive significant sales productivity:

  1. What if a brand new Sales Rep at your company, by simply viewing an account in CRM, could immediately discover which company executives have meaningful relationships in the account?
  2. What if a Sales Rep could enter a new contact in a key account, and immediately discover colleagues that worked with that person at previous companies?
  3. Or one of my favorites, what if you could pull up an account and discover people in the account that used your product at a previous company?

Your enterprise social graph can tell you exactly those things and so much more!

Stay tuned!

 

We continuously discover something new in social aspect of business and we shouldn’t stop. This is especially if it is a great help for us or we can use it to our advantage. Although, there are advantages, there are also risks so we should learn to manage both. Do you find social discovery interesting?

 

Thanks,

Jack

Recognizing The Value of Your Sales Agents

Hello Peeps!

How are you doing? I have here a blog that a sales manager should read. This blog is written by S. Anthony Iannarino (@iannarino) which talks about sales person recognition. Some of the sales manager often thinks that they are on higher level and the sales agents are just their subordinates. Treating your sales agent as an ordinary employee has an impact on his performance and this is not good for the company. These people have a quota to reach so it is important that they are highly motivated. They bring sales to the company so they must be treated fairly. The incentive scheme is quite effective in recognizing their hard work. So here’s how the author state his opinion.

Underestimating the Value of Being a Great Salesperson

By S. Anthony Iannarino

You have a great offering. Your competitor also has a great offering.

You have a tried and true sales process. Your competitor has a tried and true sales process, too.

You are using the latest and greatest sales methodology. Your competitor is also using the shiny new “new” thing.

Your sales force automation is a modern marvel. Everything you use is integrated into a beautiful, sleek interface with custom dashboards. Your competitor’s SFA is a dead ringer for yours. Only the company logo is different.

You are equipped with the best technology that money can buy. Well, how about that. Ditto your competitor; they’re equally well equipped.

The Difference: You.

We tend to overestimate the impact of some things on sales results and greatly underestimate what’s most important. In any sales organization where the above statements are true, they’re true for every salesperson on the sales team. That means the difference in results is something else, even in your sales organization.

The difference that makes a difference is you, the salesperson. It’s helpful to have a great offering, an effective sales process, good methodologies, and great technology. But it isn’t a substitute for the value created by a great salesperson sitting face-to-face with their dream client.

If you want to improve something that will immediately and irrevocably improve your sales results, you start with the greatest asset you will ever have for producing results: You. You becoming the best ever version of yourself will do more to improve your sales results than anything else.

Questions

What do you substitute for developing your sales skills?

What accounts for the difference in sales results between salespeople in the same organization? Different organizations?

If you could change one thing that would massively improve your results, what would you change?

How much does the salesperson account for in the decision to buy?

Let the employee feel that they are part of business and not just personnel who will do the command. It will degrade them and feel that they can’t do anything without your advice at all times. The initiative to respond in work at their very best will be eradicated once you put on their mind that they do not know anything without you. It is very time consuming also to dictate to them what to do every now and then, right?

Best,

Jack

Sales Reward Programs

Hey everyone!

This day, I have a video to share. This was uploaded by Joel Cohen in YouTube which entitles Mom & Pop Marketing vs. Reward Programs. Obviously this is about the comparison of the two but what intrigues me is the Mom & Pop Marketing so I watched the video. The speaker made a very good point about sales reward programs. Many entrepreneurs didn’t use it wisely and they are just issuing reward cards to compete with their competitors without thinking if it really gives them loyal consumers. He uses a restaurant business as an example and he also explains what Mom & Pop Marketing is. So if you are as intrigued as I am, watch the video.

Mom & Pop Marketing vs. Reward Programs

By Joel Cohen

If you want to have notes about the video, don’t worry because I did it for you.

Joel questions are,  as an entrepreneur are you involve in gaining customers loyalty or just relying on loyalty reward program?

The answer to these questions helps you to examine yourself as an entrepreneur. According to him, in reality “today’s consumers probably have 5 to 6 different loyalty cards in their wallet.” They are only using it for discount purposes and not out of loyalty. The question now is how to gain loyal customers? His solution is to check your shopping habits.

Where Do You Shop & Why?
– Lowe’s vs. Home Depot?
– OfficeMax vs Staples?
– Chicago Uno vs Chili’s?
– Kroger’s or Harris Teeter?

Joel Cohen states why he chose the certain store and why it gains his loyalty. Answering these questions is another way of knowing what your customers need; it is like putting yourself on the shoe of your consumer.

He suggest that what is needed is the “Mom and Pop” Factor
> means to know your customers or to recognize them as a frequent diner and this habit often surprise them.

Remember:
1. Focus on the question, “What are you going to do today that gets a customer/guest to be loyal?

2. Be visible

3. Be the face of the restaurant

4. At least remember your guests’ faces

5. Recognize and surprise a guest with a reward of kindness for their loyalty.

So now, if you are planning to have sales reward program, be sure that the client is worthy to be rewarded. Do you agree with the speaker? State your point!

Thanks,

Jack

Employee Recognition

Hi everyone!

Do you find it hard to motivate your team? Maybe this video can help. This video which was uploaded by GloboforceInc shows how to motivate a team and recognizing their job effort timely. Promising of rewards without action can lead to disappointments. It simply indicates a happy or satisfied employee towards the working place. Recognition should be given in right time like when he or she already hit the goal. Sometime, giving rewards can go wrong when no job has been done. They will have negative attitude like taking advantage and will not do their very best because they already have what they wanted. It is right that giving recognition must have standards to avoid comparison and jealousy among employees. It can create frustration and gossip. One wrong move will surely question your management. The issue is very usual in most companies and you might notice that a certain employee is not eager to work because he sees inequality in the surrounding and this will surely affect the whole team. Here’s the video! You can also watch it at YouTube.

Employee Recognition Gone Wrong, then Right

By GloboforceInc

The video is a must watch by company whose having problem towards their employees. Usually, businesses focus on output of job and they do not care about how the team feels. It is very important to gain their loyalty. This will avoid future problem such as resignation due to money offer or other reasons. Tell me your thoughts about the video!

Sincerely,

Jack

Incentive Marketing Advantages

Hi There!

Are you the kind of business owner who offers incentive marketing? There are advantages of giving incentive marketing but many business owners feared that it isn’t necessary. Before, we discuss the advantages of incentive marketing. Let us first identify what is incentive marketing.

Incentive marketing is a device use to motivate sales or service through special pricing, premiums, games and competitions.

Now that you have learned the definition, let me lead you to the video which will show you the benefits of incentive marketing. I get this video from YouTube and it was created by ltravis80. Watch it!

3 Benefits of Incentive Marketing

By  ltravis80

There are two benefits shown on the video and they are the following:

#1 Gain New Customers

– by offering bonuses for new accounts
– and by giving rewards for referrals

#2 Gain Loyal Customers

– by offering upgrades and other perks to existing clients

These incentives will boost the number of your contacts and builds a deeper relationship with your current clients.
What about you? What kind of incentive marketing did you use to boost sales?

Always,

Jack