Have you started planning for what you'll do once the Holiday season has passed? What will keep sales moving once the presents have been bought and opened, and the close-out sales are done?
Successful business people always think ahead. They find ways to create sales – not wait for them to happen.
Here's how one store owner successfully beat the post-Holiday slowdown. He created a bonus plan for his employees, but not just any bonus program. He set it up to reward his staff as a group on a weekly basis!
> His previous monthly bonus plan based on sales increases over the previous year wasn't getting the results he wanted. It wasn't motivating his team the way he thought it should.
> What made the biggest difference was changing the program to a weekly payout. That kept his staff focused on selling every day, not just the last couple of days of the month.
> The new plan fostered teamwork. If the store hit it's goal for the week, everyone got a bonus. This encouraged people to work together and help each other out. No one could earn the bonus alone.
> It kept them selling the whole week. There was an escalating bonus structure, with higher bonus payouts coming from higher weekly sales. Everyone stayed focused on selling until the very last hour of the week.
> It was fair. The bonus was paid on an hourly basis. Those who worked more hours got more of a bonus and those who worked less got less.
The Bottom Line:
> Sales increased an average of $2,000 a week – a huge increase for his store.
> Staff was happier and more focused because they were sharing in the success.
In the words of the owner, "This program really did what it was supposed to do: it increased the store's sales by improving selling behavior. Because I made more money, they made more money too!"
An idea that paid off. A starting point for making a plan that will work for you.
For ideas on how to setup your CounterPoint Software to help you with this technique contact CCS Retail Systems Sales.