“A mediocre person tells. A good person explains. A superior person demonstrates. A great person inspires others to see for themselves.”
An incentive is by definition something that motivates or encourages one to do something. In today’s extremely competitive marketplace, making sales can be a challenge. People are inundated with new products and services, and it is increasingly difficult to stand out. So what is one way to distinguish yourself from the competition and lead sales? Incentives!
Did you know that knowledgeable and courteous employees account for approximately 80% of the reasons that consumers feel satisfied and will come back for more?
Fewer than one in four American workers is working at full potential, nearly half surveyed have said that they do only what is directly asked of them, and up to 75% admit that they could be more effective in their jobs.
70% of customers that have had a bad experience with a vendor will abandon them and move on to someone else.
A 5% increase in customer retention can increase lifetime profits from a customer by 75%. Remember, we’ve talked about this before, it’s about building relationships.
So how can you use incentives successfully in your business?
· Use them to attract new visitors to your store or web site
· Use them to encourage repeat business
· Use them to improve Direct Mail Response
· Use them to Promote Closeout Inventories
· Use them for thank you gifts
· Use them to Upgrade Sales and Purchases
For Employee Incentives
· Use them to acknowledge Milestones and Achievements
· Use them as a reward to exceed sales goals
· Use them to increase employee loyalty
· Use them to reward employees
Remember, everyone likes to feel appreciated, so why not set the precedent and use incentives to inspire others to greatness!