21 Sales Contest Names for Retail Banks
5 minutes read
Retail banks provide day-to-day financial services to billions of people.
Every day, bank employees deal with numerous customers seeking financial services on:
Loans and Mortgages
Debit and Credit cards
Certificates of deposit (CDs) etc
Apart from these, they also need to keep up with the ever-changing
Compliances & policies
One way to keep the bank staff motivated is to conduct exciting contests. It can be a combination of business objectives or you can focus on one objective at a time.
Are you looking for sales contest ideas? Read our articles on:
Once you have decided on the sales contest and taken necessary approvals, you need to think of a name.
Check out our collection of cool, creative and catchy sales contest names for retail banks
1. Re KYC Drive: Run this contest and encourage your bank staff to procure KYC details from the customers and update the customer records.
2. Bancassured lives: Run this contest and encourage your staff to promote the sales of life insurance policies
3. SIP Booster: This contest encourages your bank staff to increase the number of SIPs (Systematic investment plan) sold.
4. Finding FDs: This contest is named after the famous animation movie “Finding Dory”. Run this contest and encourage the bankers to get more customers to open their fixed deposit accounts with your branch.
5. Timing with TAT: Run this contest every month and encourage your reps to adhere to the TATs (Turn Around Time) for processing various customers’ requests. Set turnaround time for carrying out various banking activities as shown in the table below.
|Request Type||Mode of request||Turn Around Time|
|Account Opening||Instant Activation at the branch||1 - 3 days|
|Non-instant account opening||Within 3 days|
|Fixed Deposit||Net banking or bank||Instantly|
|Email Statement||ATM/ NetBanking/ PhoneBanking/ Branch||1 day|
At the end of each month, reward all the reps who have a zero or minimum deviation from TATs.
6. Total Recall: Named after the movie “Total Recall”, this is a quiz contest which you can conduct once every week. This contest focuses on keeping your reps’ knowledge up-to-date about
Compliances & policies
Have your bank staff take a short quiz (5-10 questions) every week. Then, reward exciting prizes to the top 3 reps with the highest score.
7. Bankers Premier League (BPL): Have multiple branches of your bank across various regions? Run this as a quarterly contest between all the branches. Set a revenue target per branch, as well as per individual. Whichever branch meets or exceeds the target first wins the competition.
8. Reign over <branch name>: Conduct this contest for a branch. Focus this contest around getting your reps to onboard as many customers as they can from a particular branch.
9. LaLiga: This contest encourages your reps to beat their own past performance. To run this contest, choose a KPI for each one of your reps and encourage them to improve their performance in it. The KPIs can be:
Number of accounts opened
Number of products sold
Total profit generated
At the end of the contest, reward all the reps who show substantial improvement over their past performances.
10. Credit Rush: Run this contest and encourage your sales reps to increase the sales of credit cards.
11. Race for Referrals: Run this as a one day contest and encourage your bank staff to call up the existing customers and try to get referrals from them. By the end of the day, whoever succeeds in getting more referrals wins the contest.
12. Masters of Mortgages: This contest encourages your sales reps to increase the sales of mortgages.
13. Verify to Win: Run this contest for one day and encourage your bank staff to verify (to qualify or disqualify) as many credit card and loan applications as they can.
14. Quarterly Sweepstakes: Conduct this contest when you have just a few days left before the end of the quarter and you need to meet a huge quarterly revenue target. Run this contest amongst your top-performing reps and encourage them to meet the target before the end of the quarter. Then, select the top 3 reps who bring the highest amount of revenue as the winners.
15. Upsell Ninja Win: Run this contest to encourage your bank staff to upsell or cross-sell to the existing customers.
16. Home Sweet Home: Focus this contest around driving up the sales of home loans
17. Mission: Education: Run this contest around increasing the sales of educational loans.
18. Auto Carers: Hold this contest and encourage your bank staff to promote the sales of auto loans
19. Personal Loan Bonanza: This contest focuses around getting your bank staff to increase the sales of personal loans
20. The Loan Zone: Run this contest and encourage your reps to promote the sales of various kinds of loans.
21. The Doorstep Count: This contest is for your field sales reps who visit the customer and provide banking services. Run this contest every day and encourage your reps to visit as many customers as they can. By the end of the day, the rep who covers more customers than the rest wins the competition.
Once you have decided on a contest idea and given it a catchy name, you need to communicate it effectively to your team. Follow our sales contest communication template to announce your contest effectively to the participants’ prior to its launch.
Also, check out our blog on creative employee recognition awards. This will help you decide what kind of awards to give to your contest winners.
Published on Tue Jul 14 2020