Financial Data
Updated 21 Feb 2020


Incentivise your business out of the end-of-year slump

Beating the holiday slump is not only possible through the use of well-designed and thoughtful programmes, but could also be a period of immense profit.

 


David Sand, 21 December 2015  Share  0 comments  Print


All the answers to your unique business lifestage questions

The holiday season often presents a conflict between business activity from companies experiencing high levels of leave (and thus lowered productivity) and the public who are increasing their general consumption levels. This conflict could even be seen as paradoxical.

The problem, therefore, is creating an alignment between the two through an effective incentive strategy. As an incentive solution company, Uwin Iwin has the necessary experience in creating a synergy between sales channels and your business at large, which, ultimately, avoids the impending slump. 

Related: Uwin Iwin is geared for global growth

What follows are some tips that can help in maximising your competitive edge during the months of not only December, but also the post-festive season in January.

Pre-season planning

The idea here is that managers should foresee that the period ahead may produce a slump instead of a period of increased profits.

This is where early planning comes in handy: Firstly, design an incentive scheme (from basic cash rewards to more complex rewards) that targets the appropriate areas likely to slow down, and secondly, implement this scheme punctually when the time comes.

Increasing normal rewards

One easy method through which sales channels can be motivated and inspired is the temporary increase in normal rewards. Increasing normal incentives by 50%, for example, will definitely motivate sales channels to perform at the highest levels possible.

Considering that consumption is increased by bonuses, etc., December offers the perfect opportunity to maximise sales figures.

Offering great sprint-campaigns 

Designing carefully considered sprint-campaigns lasting the festive season and slightly beyond will invariably inspire sales persons to exceed their usual levels of effort, especially when customers have funds to spend.

Taking advantage of increased commercial activity in product markets is a definite key to beating the “slump” so long as end-point sales persons see clearly that they can benefit, immensely, by putting in extra effort at a time when their energy and motivation may be low.

Gift cards

Cash based incentives are not as motivating as money being uploaded onto a gift card that can be used anywhere. MasterCards are accepted by vendors (which includes virtually any brick-and-mortar store).

Rewards beyond gift cards

Creative thinking, or thinking-out-of-the-box, may also offer rewards that eschew normal incentives schemes. One option that works nicely is the earning of days off (increased leave) that can be used outside peak seasons.

The idea of lengthened holidays, acts as a powerful motivator, but this isn’t the only route to follow. Sending out questionnaires to keep your ear to the ground when it comes to preferred rewards will give you great insight into possible solutions.

Related: Tapping into potential: Motivating all your salesforce

Many employees will state that hard cash is the most desired reward, but a plethora of research indicates that actual objects act as a longer term reminder of good work completed by an individual or team.

Communicate, Communicate, Communicate

Good communication is clear, concise and informative, and over the festive season this communication is especially pertinent.

Regular emails, SMS’s and even hard copy pamphlets outlining the increased rewards or sprint-campaign serves as a constant motivation in a period where many sales people feel tired and look forward to leave.

The trick here is make the communications so powerful that they overcome end-of-year fatigue. Closed Facebook groups may also prove extremely popular as sales persons aren’t only informed by their companies themselves about increased rewards / new sprints, but may also create the opportunity for all involved members to converse amongst themselves. 

Rest easy knowing that, through incentives, your business stands the chance to take advantage of significantly increased consumer spending.

Rate It12345rating

About the author


David Sand

David Sand – CEO and founder of UWIN IWIN (Pty) Ltd -1994, with offices in South Africa, Kenya, Egypt, Ghana, Nigeria, India and Brazil. 2013 Global President of Site Global, the professional association for leaders in the motivational events and incentive industry. Regarded as a pioneer in the field on online incentive point banking and online loyalty, recognition and reward fulfilment. David is also the founder of the Youth Employment Index a non-profit company that addresses youth employment issues in Africa.

Introducing the theft & fidelity protection for your business

Theft and fidelity cover are often confused with each other. Bryan Verpoort discusses the difference between the two and why your business should be putting measures in place for both of these risks.

Login to comment