My clients and I use a lot of public recognition of individual revenue growth success because study after study finds that being publicly recognized among peers is more motivating than financial compensation.
That is, a company or department-wide communication proactively complimenting good work (this can be done by email or live, in meetings) — a new deal closed, a deal opened, a referral requested and received — is more powerful encouragement than a $1,000 bonus. Or a $10,000 bonus.
Why?
1. Because it’s public. It makes the recipient proud.
2. Everybody sees the person get recognized, and is able to praise them also.
3. These other people want to be next. You can bet they’re going to work harder to try to receive your recognition going forward. They will aspire to receive your recognition.
4. Everybody sees that you’re watching. You’re involved, engaged, interested, and participating. You’re leading.
These kinds of communications lead to a steady stream of positivity flying around the company, which is tremendously useful for behavior change. It makes people want to participate, which is far more effective than change which is mandated or demanded.
Want to grow your sales? Recognize!
(This isn’t theory. This is fact. This works. My clients do this every day. Teach your people this. And if you want some help, I can help you systematize this kind of recognition. It’s revenue growth behavior change fueled by the incredible positivity of your customers. Reply to this email or call me at 847-459-6322 to discuss.)
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I’ve received more than two dozen emails about last week’s Revenue Growth Video, about optimism in sales, and in life. Watch it here.
My latest book, The Revenue Growth Habit, is the reigning, defending 2015 Sales Book of the Year (as selected by 800-CEO-Read).