5 Credit Card Sales Contests

4 minutes read

Selling credit cards is a tough job. It involves a lot of cold calling and rejections. So, it is important to ensure that regardless of this tough process, your reps keep trying enthusiastically to win more sales.

Credit card sales contests can do that for you. These contests are very effective in motivating your reps to keep going during tough times and achieve higher. Check them out below:

Also Read:

Are you looking for creative names for your sales contest? Read more on 20 creative sales contest names that will spark your team’s enthusiasm

Do you want to give out a different sales incentive for this sales contest? Check out 23 Sales incentive ideas to keep your sales team motivated

1. Team vs Team Sales Contest

Goal: The goal here is to get your team to achieve a particular credit card sales metric while raising the level of teamwork and peer-to-peer coaching in the team. You could choose any team metric for this contest like generating leads, booking meetings, number of credit cards sold, etc.

Duration: 3 weeks contest

Teams: Team contest

Winners: The team that scores the highest on a given sales metric.

Prize: A team incentive that everyone in the team can enjoy like a team outing or a team lunch.

Competition Theme: Winning is more fun when you do it as a team. You’ll raise the level of teamwork and peer-to-peer coaching on your sales floor with this contest.

Put two teams against one another on a given sales metric and offer a compelling team incentive to the winning team. Pro-tip: we recommend creating an even distribution of talent across each team.

2. Manager vs Manager contest

Goal: The goal here is to increase the sales of credit cards

Duration: 3 weeks

Teams: Team-based

Winners: Cash bonus to the winning team (entire team including the manager). Also, a team outing for the entire team.

Prize: Financial incentive

Competition Theme: Run this contest for 3 weeks where the teams of the two top-performing managers in your organization compete with each other to raise the credit card sales for the month. Track the progress of the two teams on a live leaderboard. Give the winning team cash bonus and take them for a team outing.

Read more on creative sales incentive that you can offer to keep your sales team motivated

3. Championship Belt

Goal: The goal of this contest is to motivate all your sales reps to compete and win the championship of credit card sales.

Duration: 3 months

Teams: Individual

Winners: The sales rep who beats the other reps in the team in selling more credit cards by the end of the contest period

Prize: Cash bonus plus championship belt

Competition theme: Did you know you can purchase a boxing or pro-wrestling style championship belt and tailor it to your liking? Yes, this is a real thing and it makes for a very exciting contest for your sales reps.

Buy a customized Championship Belt. Parade it around the office before your contest begins. Award it to the rep who substantially increases the number of credit cards sold per month. Let him keep the belt until you have another winner in the next championship contest.

4. Presidents club sales contest

Goal: The goal here is to encourage your reps to fill the pipeline with new leads for selling credit cards

Duration: 3 days

Teams: Individual

Winners: The rep who generates more leads than others in the team

Prize: Take the winners for a President’s Club trip (An annual trip where you take all the top performers in various sales contests for a trip to an exotic location). Treat the winners and their plus-ones to a few fun-filled days of luxury and relaxation.

Competition Theme: Run this contest for 3 days and encourage your reps to bring in as many leads as they can during these 3 days. The top 5 reps who bring in more leads by the end of the contest period, win the contest and get to go for president’s club trip.

5. Quota Crusher

Goal: The goal of this contest is to encourage your reps to achieve the credit card sales quota (in terms of revenue)

Duration: One quarter

Teams: Team-based

Winners: The team that hits or achieves above quota (highest revenue generated selling credit cards)

Prizes: Give cash bonus to everyone in the team and take them all on a team lunch

Competition Theme: Run this competition for a quarter between various sales teams in your bank and see which team meets or achieves above the set quota. Track each team’s performance on a live leaderboard. Give a huge cash bonus to everyone in the winning team and take them for team lunch at the best restaurant in the city.

Published on Mon Jan 6 2020

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SmartWinnr has helped sales based organizations with continuous coaching to improve customer interactions, sales contests and Gamified KPIs to boost sales revenue, AI-driven assessments and regular reinforcements to drive knowledge.

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