Spiff of The Month: The Auction
BY INSTORE TEAM
Published in the February 2013 issue.
In this game, sales associates are challenged to make a personal bet that they can hit a big sales target tied to a particular prize (the bigger the target, the bigger the prize). Be sure to get the math right when setting the targets. For example, if a 5 percent gain over last year earns the associate $100 in cash, make sure the store is still profiting.
Best suited for a defined promotional period, such as the run-up to Mother’s Day or graduation season.
At a store meeting, challenge sales associates to set ambitious sales goals for themselves. Goad them into setting the biggest, hairiest target possible. After the first sales person announces his goal, challenge the others: Who can do better than this?
Set up a tally board in the back room to keep track of how everyone is doing.
Remind everyone where they stand at each morning meeting.
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At the end of the contest, have a special award ceremony. Pay in cash, not with checks. Hearty commiserations for those who fall short.
SOURCE: Taken from Harry Friedman’s The Retailer’s Complete Book of Selling Games and Contests.
Information: www.thefriedmangroup.com or (310) 590- 1248
Closing With Confidence: How Bailey's Fine Jewelry Achieved Outstanding Results With Wilkerson
When Trey Bailey, President and CEO of Bailey's Fine Jewelry, decided to close the Crabtree location in Raleigh, North Carolina after 15 years, he knew the decision needed to be handled with intention and professionalism. The goal was clear: exit the location while maintaining financial strength and honoring the store's legacy.
Having worked with Wilkerson successfully in the past, Bailey understood the value of their comprehensive approach. "They understood both the emotional and financial sides of the store closing sale," Trey explains. "Their reputation for professionalism, results and care made it a very easy decision."
The results exceeded expectations. Wilkerson helped Bailey's sell through significant inventory while maintaining the dignity of the closing process. "They don't just run a sale, they help close a chapter in the best way possible," Bailey says, strongly recommending Wilkerson to any jeweler facing a similar transition.
