How Factors Can Announce Sales Contests and Promotions
For factors and other lenders, motivating your referral networks to achieve and exceed targets consistently can be challenging. One proven strategy to maintain enthusiasm and drive performance is through sponsoring periodic sales contests. These contests not only provide a dynamic and engaging platform for brokers and referrers to showcase their skills, but they also foster a sense of healthy competition and camaraderie. By setting clear, achievable goals and offering enticing rewards, sales contests can significantly boost productivity, morale, and, ultimately, the bottom line.
Sponsoring sales contests also serves as a powerful tool for aligning the efforts of your broker and referrer networks with the strategic objectives of your organization. These contests can be tailored to promote specific products, penetrate new markets, or reinforce training initiatives, ensuring that all team activities contribute meaningfully to your broader business goals. Moreover, by regularly recognizing and rewarding top performers, companies can cultivate a culture of excellence and loyalty, reducing turnover and enhancing overall team cohesion. Thus, periodic sales contests are not just about driving sales in the short term but are an investment in the sustained growth and success of the business.
Launching Your Sales Contests Through the IACFB Directories
Using the Factors and Lenders Directories makes it very easy to announce a sales contest simply by:
- Updating your listing to include an “Active Sales Contest.”
- Posting the contest content and information on the IACFB Brokers Group on LinkedIn
- Provide the details, awards, and prizes in detail using your “Company Showcases” here at the magazine
Preview Card Updates for Promotions and Showcases
When you create a listing as a factor or lender, you automatically create a “Preview Card“. This provides basic details about your company, and subsequently, clicking on the card will display your detailed listing in the directory. Two important card features appear to attract brokers, referrers, and consultants:
CONTEST PROMOTION: An “Active” contest promotion appears at the very left-hand corner of your listing card. It will display the type of contest your company is promoting.
COMPANY SHOWCASE: Your “Company Showcase” is where you will add all of the details regarding your promotion or contest. Company Showcases are full articles promoting your company in the IACFB Magazine. If you are an IACFB member and have a “showcase“, a BLUE check will be visible next to your company name on your Listing Card.
Alerting Brokers and Referrers
Company Showcases are powerful features as they elevate and “feature” your listing. Though listing cards are displayed randomly in the directories, all factors and lenders that are IACFB members and create Magazine Showcases have their listing displayed first in the list, which provides more exposure for your company and promotion or contest.
How to Add These New Listing Features
When you complete your company listing, adding a contest or promotion notification is automatic. You can also contact IACFB staff, and we will add the notification for you. You must be an IACFB Member or lender to have a Company Showcase since this is a “custom edition” requiring an actual article in the magazine. Membership for factors and lenders with IACF is minimal, however, considering the significant benefits that showcase produces.
