When was the last time you were rewarded for your accomplishments? How about the last time you rewarded the people you employ? “Promotion” is a vital key to building your business, yet it’s talked about very little. However, once you understand its value, you’ll use promotion constantly.
First of all, a promotion will get people to stretch for the recognition and reward. All people like to receive credit for a job well done.
Second, a promotion is a good way to “promote yourself”. It shows that you are a leader, and that’s a great tool to have. For example, when your distributor is talking to a client, he will invariably tell that person about you, and they will always link you to your business.
How do you design a promotion?
So how do you design a successful promotion? First of all, NEVER give cash awards! Whether you’re offering a t-shirt with your company’s logo, a product sample, or even weekend accommodation, keep it business-related and set it for different levels of accomplishment.
When budgeting your promotion, do the maths! If you will make $100 on a certain volume, make the reward a $50 expense for yourself, $75 at most. And always offer it to all your pay levels. The people with the most to offer your business in the future may be in your bottom pay level, but if you stand to make money from their efforts, they should DEFINITELY be included!
If you want a sure-fire way to distinguish the leaders in your group, promotions are always a good bet. These people want to be at the top, and will work hard to prove that they are number one. Deadbeats in your downline will look at the promotion, decide right from the beginning that they could never achieve it, and start complaining.
An added bonus could be to give special recognition to your top achievers in your next newsletter (if you have one), or on your staff notice board. People love to see their name in print, and this encourages some healthy competition.
Benefit of promotion
Another great benefit of a promotion is the fact that your turnover will increase, thereby increasing your profits. And once your people start offering their own promotions, well, you know how THAT one works…
Remember, the purpose of a promotion is to get your business to stretch to a higher level, and achieve a goal. A promotion can be on-going, but once someone has qualified at a certain level, they should not just slide back down the ladder.
Your encouragement is what will push them, and you, forward to greater success.
