Sure, sales contests are one of oldest tricks for getting a sales team motivated, but they’re still an effective way to drive sales performance today. Need more inspiration that that to get some sales contests going for your team in the new year? Here are 5 benefits you can expect:
1. Tap into your team’s desire for competition & recognition.
There are three primary motivators when it comes to salespeople: Competition, recognition and compensation. Oftentimes, comp plans take care of the compensation part, but what about the other two? Fortunately, this is where sales contests help — especially if there are publicly displayed sales leaderboards involved.
2. Spike performance around your most important metrics.
This is the primary reason for any sales contest, really. When you know what needles need to move, focusing the team around those behaviors can really drive results. But even if you’re unsure or need to learn more about what key performance indicators (KPIs) most impact your sales outcomes, sales contests will help as you…
3. Refine sales KPIs.
A lot of sales teams think they understand what behaviors move the needle for them, but without clear empirical evidence, they run the risk of focusing on behaviors that may not lead to the most desired outcomes. Spike performance around today’s KPIs by running sales contests around them, and then try a few other KPI options to see which gets your team to its goals. (If you read this blog, you’ve probably heard Kelly Services’ $5.8 million dollar story, which is the best example of this. If not, check it out.)
4. Create coaching opportunities.
Once you’re confident in your KPIs, you’ll be able to better coach up your team so they can knock those goals out of the park. If you learn that face-to-face meetings are an important part of your process, for example, you can work with your reps to improve how they approach asking for meetings. Then use contests to measure the team’s improvement.
5. Clean your CRM data.
This one’s typically an under-utilized use for sales contests, despite the fact that most companies struggle with data quality. CRMs like Salesforce are incredibly powerful, but poor data can really get in the way as you attempt to use those platforms to maximum potential and to measure KPIs or create accurate forecasts. Running a few contests that give points for cleaning or updating CRM fields can instill good data habits among your sales team.
When it comes down to it, you’re the captain of the ship. Executing the sales strategy falls on you, which is why sales contests are one of your most important tactics for success. Using sales contests to motivate the right behaviors at the right times can give your team the boost they need to spike key metrics and turn in record-setting performance.
Alright, ready to get your sales strategy locked down with some contests? Then check out our newly revamped “Sales Contest Toolkit“ next. We took our most popular resource and designed it to help you run powerful sales contests in the new year. We can’t wait for you to get started and tell us how it goes.
Click here to get your Sales Contest Toolkit!