Brainstorms

Setting Sales Targets? Give Them the First $50,000 on You

Nothing motivates like progress, even when it’s illusory.

Published

4 years ago

August 25, 2020

INSTORE Staff Instore September 2020 Issue

Nothing quite motivates like the feeling of making progress, even if that progress is entirely illusory. Several years ago, the Journal of Marketing Research published a celebrated study that found customers will buy coffee more quickly when they are given a “Buy 12, Get 1 Free” card, but with the first two stamps already filled in, than they will when given a “Buy 10, Get 1 Free” card. When it comes to the targets you set for staff, could you do something similar? Give them the first $50,000 toward their annual sales goal “free,” and see if that feeling of momentum doesn’t spur them to shift into a higher gear of work.

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”