How to reach the expected sales goals?
Jul 02, 2014
Increasing sales through an all-or-nothing 3 months goal setting rewards program.
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Overview
BI WORLDWIDE helped a maker of thermostats achieving its projected annual sales growth.
Situation
Early in its fiscal year, this well-known maker of thermostats, air purifiers and ventilation systems determined that sales were falling short of its annual growth target.
Challenge
Get sales back on track to achieve 16% ($30 million) annual growth.
Solution
BI WORLDWIDE developed a three-month, all-or-nothing GoalQuest® rewards program, where each sales rep chose one of three incremental sales goals. The higher the goal, the greater the reward. A low-cost communications campaign kept the reps informed and motivated.
Results
Every eligible participant selected a goal. The program drove incremental sales of $4,067,833, which was an 11.3% increase over baseline. The program ROI was 194 to 1.
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