The Power of a Punch Card to Increase Sales
Have you ever been to a barber shop or a smoothie place and they offer you a punch card for repeat business? I don’t know about you, but I keep quite a few of them in my wallet. I have one for a local nail salon, another for a make-up store, yet another for an oil change spot and I keep coming back again and again to get another punch on my card so I can save a nominal amount the next time I spend money with them!
Punch cards are tangible objects that your sales force can use to measure results! Use them! They work!
We just recently implemented punch cards again (we discontinued them for a few years) and within two weeks we saw measurable increases in sales and sales calls! The results were virtually instantaneous! It was amazing to see our sales representatives doing the things they needed to do in order to earn a punch on their card.
Make qualifications relatively easy to achieve so they will be excited about completing all of the punches!
For our company, we had three different ways to earn a punch. You may be surprised that NONE of them involved actually making a sale. I am a firm believer in the theory that if you do what it takes to make the sale (generate leads, phone calls, etc) the sales will happen. With that in mind, we concentrated on activity required to make the sale.
You may want to make your qualifications to earn a punch phone calls or appointments scheduled.
Our particular qualifications are:
- 10 qualified leads gained from a prospect
- 10 cold calls to potential prospects
- 1 appointment completed that was gained from either of the above
In our case, it is just a matter of getting qualified sales leads or completing qualified appointments. We know that these things will ultimately results in sales and revenue for the company. Knowing that, the qualifications for earning a punch card will result in more sales and more revenue.
Our punch cards take ten punches to pay out. The reward is roughly $25 of product they can use to sweeten the deal on sales calls or to use personally. This makes this a win/win for us! Not only are our guys trying just a bit harder to do the things that it takes to make sales happen, they are given “free” products that help make even more sales happen! Not only that, the customers like to help the sales people earn more punches on their cards!
Your representatives can use the punch cards to entice our customers to help!
If done properly, your sales representatives can use the punch cards to get your customers to help them earn more credits! Train your sales people to show your customers your punch cards. If your sales people have made friends with their clients (lets hope they have!), your clients will want to help your sales people earn bonuses and punch cards are the perfect way for them to help!
The cards are very affordable. You don’t have to spend a ton for them to look top-notch. Personally, I use Vista Print for our cards at the office. For $20 plus shipping, we have earned literally THOUSANDS in the first two weeks!
You will be surprised at how well the punch cards work and how excited your sales team will be to participate in the promotion provided that the prize they win once the punch card is complete is good enough. You don’t have to spend an arm and a leg for this to be a success! Just think of how little the payout is for the ones you carry in your wallet (free oil change, free smoothie). Are you as shocked as I was when I realized how much I value those cards for how little they are actually worth when cashed in?
Vista Print has a very user friendly interface to create your own cards. Within 10 minutes, my order was completed and the cards were on the way. Within a week, I had them in my hand (I am not affiliated with Visa Print in any way, I just highly recommend them).
Give it a try and share your results!
Good luck and have fun!