|Challenge: To continue with record growth
An insurance company was eager to achieve its 13th consecutive quarter of growth. To do this, the company needed to pick up sales during the summer, traditionally the slow period for the door-to-door agents. The company wanted to find a unique way to motivate their sales agents to get new customers and create new growth.
Solution: An incentive campaign built around promotional products
The company instituted a “Summer Fireworks!” contest. The company’s 5,000 agents were issued a scratch off card for every application they wrote, and at the weekly sales meetings, agents ceremoniously scratched off their cards. Winners were awarded promotional products like caps, coolers, calculators, bags, and watches. At the end of the contest, there was a grand prize raffle for a 10,000 dollar car voucher. Every application counted as a ticket, which was a strong incentive for the sales agents.
Result: Another successful quarter!
New applications averaged around 500 a week, and the company gained 1.25 million dollars in new premium income over the course of the contest. The company reached its record 13th quarter of growth and overcame the conventional wisdom of the summer being a slow period. The incentive campaign was a big success.
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