The all to familiar problem: how do you know what ROI you are getting for your investment? Read on to discover how we were able to revolutionise our clients incentive program, generating a significant cost reduction and increased productivity from the team.
Start your engine
A luxury auto manufacturer had been spending a lot in cash each year to motivate dealership salespeople to sell more of their Certified Pre-Owned (CPO) vehicles. The problem was they didn’t know what ROI they were getting for their investment.
BI WORLDWIDE reviewed years of historical data and determined that the millions in cash was failing to move the needle. After sharing the data, we recommended a solution that would:
We designed a 60-day GoalQuest® program that divided salespeople into quintiles and allowed them to select their own goal level based on their personal sales trends. Those who hit their goal would earn points redeemable for experiences and non-cash luxury items.
Life’s too short to drive slow
The GoalQuest rules structure pushes reps to get out of their comfort zone with payouts that are commensurate with the risk.
The bigger the risk, the bigger the reward. If they failed to achieve the level, they received nothing.
Going the distance
The GoalQuest solution was a huge success:
Additionally, salespeople who participated in the program continued to sell more CPO vehicles after the promotion period.
Put the pedal to the metal
When these dealership salespeople were able to self-select a goal to earn experiences versus earning a cash incentive for each CPO vehicle they sold, participation increased by 10% and they saw an over 4% lift in sales.