Samsung Spiff Programs For Sales

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Samsung Spiff Programs For Sales Rating: 8,4/10 4932 reviews

The main target of this program is the sales representative of the reseller who can earn extra income from Samsung when selling Samsung products. The cash spiff for the Power Cash Inventive Program will be deposited into the reseller’s Power Cash Debit Card account. Samsung’s flexible Power Cash Debit Card offers a shortened payment.

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  1. Best Practices for Effective Sales Incentive SPIFF Program Management By Warwick Allen 8/8/2016 5:00:00 PM Views (6274) 0 Comments Return Sales incentive programs, or SPIFF programs, are proven to be effective tools to increase local brand demand and loyalty through your trade partner channel. This is especially true if your trade partners also.
  2. Samsung's partner programs are designed to drive our mutual success in today's. Our dedication to the channel includes robust sales and marketing tools,.
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  • SPIFF. Sales Incentives. Best practices and case studies.
  • This term has been around for awhile.
  • So has the idea of rewarding sales people for their performance.
  • Everybody always comments on the missing second “F”.
  • Typical spiff program flow. 1. Salesman sells Ginsu knives to restaurant. 2. Restaurant buys knives and gives money to Ginsu. 3. Ginsu receives money and pays salesman. 4. Salesman receives regular commission for sale. 5. Salesman receives added incentive pay in the form of spiff rewards. In this example the spiff reward is cash that is loaded onto a Vis gift card for the salesman to spend at his discretion.
  • Why this works. The spiff reward gives the sales person something tangible to use as a goal. Their basic commission might be enough of an incentive for them to reach their quota. But when they have a separate account that is earning extra money for whatever they want to use it on, now those extra sales don’t just mean that they are beating their quota, they mean they are earning a jet ski or a trip to Hawaii or golf vacation or whatever. The spiff makes their fantasy a reality and gives them a way of achieving it. They are no longer selling a product, they’re building a boat. They’re no longer generating leads, they’re adding to their set of golf clubs.
  • Huntington Homes/Highland Homes is a Texas based home builder that shares one thing in common with other builders: incentive programs for realtors. Numantra helped Huntington Homes/Highland Homes introduce their latest incentive program with this over-sized brochure. The piece touts the big bonuses while it reinforces their Texas point of difference by reminding the realtor that “everything’s bigger in Texas. This is the front and back of an accordion fold brochure. The spiff program here involved a rechargeable credit card that would automatically receive cash bonuses when sales were completed. These bonuses were in addition to the standard #% commission and basically meant that a realtor could get paid as much as 5% commission on sales.
  • This spiff program we developed for Hoya was designed to eye care professionals working at dispensaries recommend and sell more HOYA lenses. The program goes something like this: Sell qualifying HOYALUX ® progressive lens designs to earn something green — add HOYA anti-reflective coatings, Transitions ® lenses or NuPolar ® polarized lenses for even more green. In addition to great prizes, monthly winners will receive cold hard cash. Plus, two lucky grand prize drawing winners will walk away with the keys to something even greener — a Lexus ® GS 450h Hybrid two-year lease. Remember, the more you sell, the more green you can win.
  • Click on the website image above (center picture) or go to http://numantra.com/sites/Hoya_Go_Green/index.php to review the site that supported the program.
  • The next spiff prlogram for HOYA was like the previous one. This time the grand prize was a trip to Greece.
  • This time, we added more prizes and with a grand prize trip to Greece, we were able to make the prize pool more thematic. Check it out by clicking on the website image above (middle) or visit the following link: http://numantra.com/sites/Hoya_Greek/index.php
  • To increase program participation, we teased the next promotion with print ads that ran in the trade publications.
  • The print ads lead to a landing page where eye care professionals could sign up to be informed of the prize destination by email. They were also invited to guess at the destination for a chance to win a free gift.
  • Finally the destination was revealed. Spain! Visit the website by clicking the image above or visiting http://numantra.com/sites/Hoya_Splendor/
  • More thematic prizes were added to this promotion than before.
  • And a virtual itinerary was created to lead eye care professionals around the various destinations of the grand prize.
  • In addition to the stickers they can earn for selling HOYA product, they were also invited to take weekly quizzes that helped to sharpen their product knowledge. Correct answers on the quizzes were also rewarded.
  • Product information was important to this program so in addition to the quizzes, every page had a revolving series of questions incorporated into the upper right corner.
  • Quarterly sweepstakes keep sales people interested. A new promotion is announced each quarter.
  • An email is sent each month. One moth, the email announces the promotion. The next month, the email provides a sales tip, announces the winner of the last promotion and announces the next upcoming promotion. And the third email invites sales tips from the salesforce. And then the cycle is repeated.
  • When too many points have been accumlated but not redeemed, we launch a point burner. It’s a promotion designed to encourage salespeople to spend their points. In this case, they can spend their points for a chance to win cash instantly.
  • Dentzone private labels their service so we also provide versions of the spiff porgram that are specific to those individual company salesforces.
  • For Good Days from CDF, we helped generate a spiff program for their Walgreens fundraiser. When employees of Walgreens receive %5 donations for Good Days from their customers, they give the customer a free 2012 calendar. And the employees that receive the most donations receive free movie passes. Plus the stores that perform the best receive movie watching parties.
  • A managers guide and checklist was created to help managers launch and support the promotion.
  • Calendars and coupon books were given to customers when they made donations.
  • ePrize is a leading e-promotion company that we have consulted with a several occasions. The following three slides are examples of their case studies.

    • A robust sales spiff program may be just what your dealership needs to light a fire under your salespeople

    You’re planning your weekly sales meeting, and you’re having trouble wrapping your head around the numbers. Your team just hasn’t been closing enough deals lately, and you’re not sure what’s going on.

    When meeting day rolls around, though, you suddenly have a clearer picture as you look around the table. Your salespeople are physically present, but they look tired and mentally drained; there’s no “spark.” They’re in need of some serious motivation.

    Motivation for auto salespeople can take a few different forms, but one prominent method is creating a sales spiff program.

    What is a sales spiff program?

    Maybe you’ve heard of a sales spiff program before — or maybe you haven’t under that exact name. Either way, spiffs are short-term incentives based on a particular focus of your choosing. Salespeople earn bonuses — usually cash — for achieving specific goals that you’ve set. This is a widely accepted way in the auto industry to boost morale and encourage some friendly competition among your team.

    Dealerships can use spiffs in many different ways. For example, if you have a 2007 Ford Explorer that’s been sitting on your lot for 30 days, tell your team that the first person to sell it will get an extra $50, in addition to their standard commission. You can offer spiffs for the most car sales in a day, for each positive review posted online, or for each new car sold. It’s up to you.

    Tips for establishing your dealership’s sales spiff program

    There’s not one catch-all template for a sales spiff program, so what you ultimately decide to do should serve your dealership’s unique interests. There are some tips, however, to keep in mind as you work to motivate your sales team.

    Spiffs shouldn’t be too frequent or too long

    Spiffs are meant to inspire your team to try harder, but in essence, isn’t that the point of commission too? You assume they’ll work their very hardest to make sales because they want as much commission as possible, and then you’re surprised when your numbers are down. It’s because the commission is just part of their everyday job — and that gets tedious for everyone sometimes. If you have too many spiffs or spiffs that last too long, they’re not going to be special anymore, and that urge to compete will disappear. You should have spiffs every once in a while for short bursts of time, so they always hold their appeal.

    Have an expected ROI in mind

    It may be tempting to create a spiff on a whim when you walk into the dealership and see far too much inventory sitting there. Fight the urge to blurt out, “ The first person to sell three cars today gets a $200 spiff!” Instead, brainstorm specific areas of your dealership that you feel could use a boost. Then, set a budget that makes sense and create the desired ROI you hope to achieve. After all, you’re not selling cars because it’s all fun and games — you’re a business, and you need to make money. If you’re creating spiffs that don’t make you money, there’s no point.

    Sync spiffs with advertising campaigns

    You may get good results on a spiff, but you have the potential to see great results if you create an advertising campaign around one. For example, trying to sell a particular vehicle to any customer that walks in the door can be challenging. However, if an ad campaign brings in a qualified customer who’s already interested in that vehicle? Well, that’s a grand slam.

    “A spiff program works when used in tandem with an advertising campaign. A tire sales advertising campaign, for instance, pulls tire-buying customers into the dealership,” said Sean Ugrin, founder and CEO of Spiffit, to Auto Dealer Today. “It incentivizes advisors to sell tires and helps close more opportunities.”

    Spiff programs for sales reps

    Ugrin also mentioned a case study when speaking with Auto Dealer Today. He offered the story of a Toyota dealer who sold 81 tires in the month of February. In March, they added an automated, recurring 30-day spiff program and increased sales to the point where they were able to sell 304 tires in June.

    Make sure someone is in charge of tracking spiffs

    It’s fun to create spiffs and tell excited employees they’re going to win money, but you also have to deliver on your promises. Sometimes, between your dealership, automakers, and vendors, you may have a few spiffs going on at once. It can be easy to lose track of who is owed what, and when. Putting someone in charge of the tracking and paying of spiffs is an easy to way to combat any potential mix-ups.

    Get creative with ideas

    Sales Spiff

    As time goes on, you may feel the need to get more creative with your spiffs. If you’re having trouble thinking of new ideas, hold a few brainstorming sessions during your sales meetings and get your team to participate. One dealership in Florida, Rick Case Fiat, put a fun spin on an old sales spiff called a pull-board. There’s a board covered in envelopes, filled with different amounts of money, and every time a salesperson meets a goal, they can pull an envelope down. Rick Case Fiat swapped out envelopes for balloons, and every sales person who met a goal got to throw a dart at a balloon.

    Spiff Program Template

    A sales spiff program can be just what your dealership needs to motivate salespeople, increase sales, and boost morale. Just take your time crafting a program that makes sense (and makes you money), and you’ll undoubtedly see great returns.

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