The Quarter 4 sales and revenue pressure is always a worrying thing for most CEOs and team-leaders. You have only a few more months to make as much sales and money as you can. You might have a clear picture in front of you about the revenue projections made at the year beginning and you know whether the reality is meeting expectations.
In case you need significant sales in the fourth quarter to achieve organization goals, there is still time to fulfill the initial projections. The power of Quarter 4 should not be underestimated. There is no other quarter in the year that poses so many opportunities and challenges as this one. For many companies, the sales of the fourth quarter are the highest though there are lesser sales days as compared to other time of the year. It is the time of the year when sales teams receive their year-end bonuses.
The significance of the fourth quarter means your sales people must be on their game. It is not a good idea to hire more people in this quarter so the key is to keep your existing team focused, motivated and happy during this time. It is essential to have a strategy for the entire year and another one for quarter 4 alone as it is different and crucial.
Below are some of the proven tips to keep the staff motivated in Quarter 4 for the revenue push:
1. Utilize a Variety of Incentives
You can choose from a large number of motivational tools to help keep your sales team powered for the quarter 4 performance. Use monetary bonuses, extra vacation days, special trips and other incentives as little pushes that make sure your sales people stay focused on the big picture. Such incentives can help you get through the year-end rush so that you can meet the quarter 4 sales revenue goals. Sales people are hard workers and should be compensated well through incentives and bonuses to keep them motivated all the year round.
2. Organize Weekly Sales Meetings
The power of communication should never be underestimated. By holding weekly sales meetings in the rush quarter, you get the chance to set some short-term weekly goals for the team. By setting goals with tight deadlines, you push the team to give its best. In the meetings, you can recognize the people for the previous week’s performance.
Moreover, take some time to discuss about success, ways to success and tips to improve the performance as a team. These meetings can give you a chance to re-energize your team and reconnect with them to fulfill the sales projections of the year in the final quarter. If there are any issues to be addressed, they can be discussed in these meetings so that the team is all set to do their best.
3. Conduct Training Events
The end of the year is a great time to hold sales training, company meetings and motivational events. Businesses should invest in motivating and inspiring their people while equipping them with the necessary skills and tools to make things actually happen. Motivation is about explaining people why they do what they do a daily basis. The best sales teams are led by those people who believe motivation can affect sales.
The fourth quarter is about getting rid of excuses and inspiring the team. It is the time for meetings and events. Wait no longer to implement training and motivation to see your sales number hitting the bottom line. Company-wide meetings break down the silos between the departments. When sales, marketing, engineering and customer support come together to discuss their Quarter 4 goals, the true growth starts.
You can also consider hiring humorous motivational speakers to diffuse the worry of pressure and transform the dull sales environment into a vibrant one for a bang in the last quarter of the year.
4. Use Creative Ways for Recognition
Rewards don’t always need to be monetary. You can get creative sometimes with new ways to recognize your sales people. You can try rewarding them for doing a task they hate, like cold calling or prospecting. You can even pledge to shave your head if the team achieves a set goal. You can hold fun and exciting outings like a sports match or a trip to an escape. Use your creativity to get your team excited to handle the last quarter revenue push.
It is perfectly alright to get input from your team members. You can directly ask what motivates them. Remember that the same thing does not motivate every person. Stay open to their inputs and try new tactics. You never know what might work.
Your sales reps wanted to be rewarded and recognized for their achievements. You can implement something like going for a dinner whenever a sales person hit his quota or achieved something great. The entire team would join for the dinner which creates a team-oriented mindset. Everybody would want to be the cause of the dinner. The recognition would surely motivate them to work harder and work united.
5. Send out Motivational Emails
In Quarter 4, managers and team leaders can reassess the opportunities which were given time but did not close in the past year. It is a good idea to send emails to such people reminding them that the year is going to end. You can remind him/her of the previously discussed goals and ask for an update on the performance. You can motivate the person to work on it and your readiness to help. Invite them to have a conversation with you. This strategy instills a sense of urgency and reminds them of their responsibilities.
What strategies work the best for you to motivate your salespeople for the fourth quarter goals?
Curt Doherty is the CEO of CNCMachines.net, a US CNC Machine dealer with more than 15 Years of experience. His team is committed to making a mark in the manufacturing industry by creating tools and other resources that help the American Manufacturer.