Incentive programs don’t have a season.
They aren’t better to run when you’re sales are falling vs. when your sales are growing.
Both scenarios are great situations for incentive programs.
Market rising for your product?
Great – run an incentive. A 10% increase on a market that is growing is better than just accepting what the market will “give” you. Too many companies just bask in the glow of the rising tide. I say lean into the momentum of the market. Ride the wave. Heck, with an incentive on top of a rising market you’re adding power to the natural wave. It would be like riding a bomb with a surfboard attached to a jet engine.
Market falling for your product?
Great. Run an incentive. The market isn’t zero and whoever is buying, you want to be the one they buy from. You need to grab as many sales as possible to offset the falling demand. Running an incentive drives up the effort and the outcome. It’s like riding no wave with a surfboard with a jet engine attached. And secondary bonus – you now have a new customer who will buy from you when the market rebounds.
See where I’m going here?
Incentives focus effort and regardless of the market conditions influencing that effort, you will experience returns outside what the normal market will bear (rising or falling.)
So, when is the best time to run an incentive program?
Right freakin’ NOW!
Go do that.