Are Slow Selling Seasons Getting You Down?
It happens every year for some companies: sales plummet during specific seasons or time periods.
Travel companies, for instance, often find Fall is when families focus on school for their children, not travelling to Europe. Golf manufacturers might struggle to move product in the winter, particularly in the Northeast. But rather than gritting your teeth and bearing it, you might be able to change the dynamics with a sales incentives program.
How might this work?
Let’s assume a financial services company experiences a 25% drop in business every summer. Turns out that with the warm weather, consumers’ thoughts turn from financial matters like purchasing new homes (with accompanying mortgages) or buying life insurance, to relaxation and vacations. What’s worse, this same thinking impacts the sales people as well.
To re-ignite interest, the company implements a sales incentive program. It bases the program on specific and attainable goals – sell X number of personal loans, or a specific $ amount of personal loans. Winners could have a choice of all-expense-paid trips to exotic locales such as St Thomas, the Greek islands, or Tahiti or to exciting city destinations such as Paris, New York or San Francisco.
Many companies have seen large sales increases of up to 20% or more with this approach. You can also customize the incentives program to your unique industry or niche.
So if you find yourself feeling resigned to “the inevitable” each time the slow season rolls around, think again. Your options are limited only by your imagination.