Trophies Can Increase Sales Performance by Bruce Munro Studies have shown that attractive trophies and corporate awards are a powerful method of increasing a company's revenue and overall employee performance. No one knows exactly how much trophies and corporate awards influence a company's bottom line or how often these corporate gifts or awards should be presented. But according to statistics, we do know they work extremely well and we know why. Abletrophies.com has a spectacular array of Fine Crystal, Marble, Jade and Glass corporate gifts and company awards as well as tasteful gifts for corporate recognition presentations. These quality trophies, paperweights, plaques, bowls and other awards may be custom etched or engraved to ensure a long term memorable experience. How can Incentives positively influence revenue and sales performance? Incentives, plaques, trophies and other awards are designed to motivate behavior in a way that will provide a reasonable return. It is proven that awards as incentives do work, but there is no universal agreement as to what incentives are or how often they should be presented. Most executives would agree salespeople should receive awards as frequently as would be effective. But how can the value of proper incentivisation be measured and if one plan is more successful than another, how can you determine how much better? In terms of sales performance management, there are three groups to consider: - Sales executives want the ability to reward performance with some measure of flexibility to overrule logic and reward perceived effort. - - Financial controllers and directors require accuracy, reliability and predictability in payments. - Recipients of incentive compensation want to maximize incentive pay with minimal wasted effort. - Valued Customers that the company wants to retain. Sales executives introduce corporate incentives to motivate behavior. For example, a store might be offered a 10% discount by a manufacturer if it sells 100 units within 30 days. The Sales director could offer an engraved desk set or serving platter to members of the sales team if they sell over 100 units of the product within 30 days and still make additional revenue for each unit as opposed to no additional revenue. The difference between company awards and business gifts One of the biggest mistakes companies make is buying a one-size-fits-all award, and they don't take into consideration the gender, age or interests of the recipients. Planners can avoid this company gift-giving dilemma by taking into consideration such elements as demographics, budget, goals and timelines as well as customization, fulfillment and delivery. After all, the award is meaningless to the recipient if it's inappropriate to them. When it's tailored to the recipient, the more meaningful the award becomes, therefore the more value it will have. Business gifts are unique in that they aren't identified with the mark of the giver, whereas an incentive award is identified with performance. Therefore it's important to select an award that is meaningful yet relative to your overall goals. Companies must ask what type of person is the gift intended for? Is it for men, women, doctors or a
chairman of the board? What is the budget? How many awards need to be purchased? How will they be sent? Is it a symbolic award? Branded merchandise? A consumer product award? Answers to these and other questions allow the buyer to select an assortment of gifts, awards and trophies that best suits your company's needs. What type of corporate gifts are in? In the not-so-distant past, money was no object and high-tech flash ruled corporate gift giving. Now value is the new keyword and basics are back. The winning strategy right now for buyers is useful chic. Despite the new practicality, however, corporate gifts, awards and trophies must still shine. By following three key strategies, buyers can ensure that their corporate gifts and trophies are memorable for recipients and a smart investment for their company. - Make sure that your company's name and logo are displayed prominently. - Stay abreast of trends to add style. - Be sure your corporate gifts offer traditional quality and value. How to express your corporate image. The business world changes day-to-day, even hour-to-hour. Companies merge, acquire other companies, restructure, reappear, get gobbled up forever. Therefore, there's an even greater need to define a corporate image and keep it clear in people's minds. Showcasing logos, particularly changing logos, is key. Logos are increasingly streamlined and angular. Gifts need to be similarly designed to showcase a sleek logo. Waste is out. Gifts need to be functional, not just decorative. But value-packed classics have come back in style in a big way. Be mindful of environmental issues. A particular wood, such as teak, might make beautiful boxes or picture frames, but your corporate image will be seriously damaged if it turns out to be harvested from imperiled rain forests. Glass and fine crystal will always be a safe corporate gift, even for trophies. Stay current The products themselves must also be up-to-date. Stay abreast of changing tastes. Think Globally The business world is global and becoming more so every day. Desk clocks are popular for corporate gifts and company awards, but even more useful when they display two or more time zones. Think symbols in addition to 'words. Be aware of how people live in other countries. Sleek coffee mugs that fit in car cup holders may be welcome in American suburbs but useless for Japanese subway commuters or even New York City straphangers. Baby Boomers and beyond generation X, Y. Although hiring may be down and layoffs on the rise, there is a still sizeable recruiting and retention market geared toward younger people. Corporate gifts and company awards that might appeal to
the younger crowd go beyond T-shirts. Younger people (and techies of all ages) love gadgets. Selecting useful, stylish and value-packed company gifts is a science as well as an art. To guarantee success, keep company image and identity at the forefront and remember that high-impact corporate gifts and trophies can be a winning formula for corporate gift giving programs.