Sales incentive programs are created to reward individuals who sell the most in a world where revenue matters. Although it may seem faulty, it does make sense. Top performers are motivated by incentives, while the rest of the team isn’t engaged since they can’t picture themselves in that situation. 70% of sales teams either run or plan to run sales incentive programs. Creating healthy competition within the sales teams can significantly increase results. Contests can be used to motivate employees.
Here are nine sales contest ideas to increase revenue and motivate your team to achieve your goals:
1) Lead Conversion:
The winner of this sales competition is the person or group who converts the most leads into sales during a specific timeframe. Since leads are supplied equally and at random to sales representatives, this sales game can be won by the Sales rep who receives more high-quality leads than the others.
2) Buddy up
Make use of the buddy system. The top sales rep should be paired with the least sales performer. This exercise will help the lesser performers to understand what makes their more successful teammates so successful and will increase the team’s synergy. At the end of the month reward the team that does maximum sales.
3) Highest revenue contest
The person who closes the maximum number of deals or generates the highest revenue wins a contest. Historically, sales competitions have been based on this idea. Such Sales contests should be run for each quarter or fiscal year, depending on the duration of the Sales cycle. Because someone who has had a good month in terms of achieving his budget may come back with lots of enthusiasm to achieve much more.
Prizes for winning this contest should be worthwhile. Incentives and paid leaves are excellent rewards to boost morale among sales reps.
4) Leave Early Friday
The concept of a team-based competition can be applied to a weekly campaign that encourages collaboration and mentorship amongst newer and more experienced sales representatives. Each week, set a sales metric such as leads generated, calls made, deals closed, or total sales revenue.
All members of the winning team get to leave early on the Friday after the competition. At the conclusion of each fiscal quarter, the winning team is even allowed to take an entire Friday off. Reps frequently give it their all, to avoid disappointing their team, as a time off incentive is at stake.
5) Customer Review Contest
A customer review contest requires a little front-end work because the reps need to be able to easily obtain reviews, whether they are good or bad. Creating a customer survey or taking advantage of an existing survey process is the easiest way to achieve this.
It encourages sales representatives to provide more than just product sales and to be prepared for feedback on their customer service, whether positive or negative.
6) Scavenger Hunt
Members of several sales teams specialize in marketing or selling to a particular client or item. Scavenger hunt sales competitions inspire your sales representatives to work together and make use of their unique skills. Objectives may include achieving a certain revenue goal, selling a specific product, or achieving a certain number of upsells. Collaboration, motivation, and sales will naturally increase as the team works together to complete their scavenger hunt objectives.
7) The Most Improved
A better challenge can help individual sales reps to raise the bar of their performance. You will contrast a performance metric used in a prior period with one used in this sales competition based on activity or production over a month, quarter, or year. Instead of competing against other people or teams, each rep competes against herself/himself. At the end of the competition, the person with the highest improvement wins the prize.
8) Salesperson of the Month
Get inventive and set your sights on something special, such as the highest revenue generated, the most positive or negative customer evaluations, or the most helpful coach for the other sales representatives. No matter how you define and recognize success, the winning sales professional will always appreciate having their name and picture on display for an entire month in the office. Typically, the sales representative with the highest sales revenue wins.
9) Travelling Trophy
A trophy to display on their desk is given to the salesperson who generates the most sales during a particular period or timeframe. As long as they put out their best effort, the trophy will be theirs to keep. The winning rep takes the trophy and puts it on display at their desk after achieving the highest revenue every single month. A traveling trophy program is a perfect forum for public recognition that motivates your entire team.
Conclusion
Incentives and rewards can accelerate both organizational and individual performance through competitions. Whether it is an input of effort or an output of revenue, these sales contest ideas can help you improve various aspects of your sales operations and metrics. Using CRMs and gamification tools for tracking and structuring sales contests properly will increase team motivation and productivity.
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