HOW TO CONSTRUCT AN INCENTIVE PROGRAM FOR YOUR
SALES STAFF A very important element in your marketing plans is to establish an incentive program for your Sales Staff. What so often happens is that your front line Sales Staff is forgotten in your overall marketing strategies to improve sales. The primary reason for this exclusion Is because it is often thought that since their compensation is based on salary and commissions, then that should be enough to motivate them.
But that is not the case! Incentive programs work and the trophy value for your Sales Staff and their families Is a great motivator. The Solution: Design and Implement an Innovative Sales Incentive Program for your Sales Staff. Now is when companies begin their planning for a Sales Staff Incentive Program.
If you would like to learn more, please let us know and we would be pleased to provide you with examples of Sales Staff Incentive Programs.
THE PROBLEM WITH STANDARD CO-OP AND REBATE PROGRAMS
As you know, a vendor’s standard co-op program doesn’t work very well for many pro dealers. You may accrue a significant amount in co-op funds but you typically can only collect 50% of your marketing expenditures that fit their co-op guidelines. Unfortunately, in many cases you do very little advertising that would qualify for their co-op plans.
To grow your pro-business, a multitude of customer relationship activities are usually part of a typical Pro Dealer’s marketing strategy. Traditionally, vendors have not allowed you to use co-op funds for
The Solution: Design and Implement an Innovative Marketing Support Campaign. Now is when companies begin their planning so they can engage their featured vendors targeted for Market Development Funding to assist in supporting a Pro Customer Rewards program.
EXAMPLE: On average a program that has reward value of 1.5% of participating Pro Customer revenue will result in a successful program.
Pro Customer has $80,000 in annual sales revenue. 1.5 % Investment factor on $80,000 of annual revenue is $1,200 in reward value. At this level of reward value over the course of the year for our web based ‘Points’ Rewards Program the customer may choose from thousands of brand name products, travel and event tickets.
Group Travel Programs:
Please Note: If you are considering to establish a Group Travel Program for your top revenue Pro Customers this form can also be used. Typically, a Group Travel Program is targeted at your top Pro Customers that represent annual revenue higher than $250,000 and should represent
At minimum 25 couples traveling on the program. If you are considering a Group Travel Program for your Rewards Program, we will provide you with additional specifics.