Ready, Down … HUT, HUT, HUT: Bring on the Super Bowl of Sales
Can you believe that Super Bowl Sunday has come and gone? Last year we were lucky enough to host the event right here in our backyard, Santa Clara. This year we will have to settle for a few Bay Area natives headlining the big event. New England Patriots quarterback Tom Brady hails from San Mateo, Patriots wide receiver Julian Edelman is from Mountain View, and of course, Atlanta Falcons offensive coordinator Kyle Shanahan is the presumptive next head coach for the San Francisco 49ers. But enough about the stars, let’s get to the real headliner for this event – SALES.
Super Bowl spending reached $14 billion this year. 189 million Americans tuned in to watch the Big Game, and 45 million households hosted Super Bowl parties. Enter massive spikes in TV sales. An estimated 8.6 million TVs were purchased in time to watch the Sunday Showdown.
What’s fueling the massive buying sprees? Incentives. Between the AFC and NFC championship games, TVs are discounted up to 20 percent off – enticing customers to make the plunge to the latest, greatest, and biggest new screens. In turn, retailers often offer internal SPIFs (sales performance incentive funds) to incentivize sales reps to sell TVs and related accessories.
The only other occasions when we see comparable spikes in TV sales are around the World Cup in soccer and Black Friday. But those events have a few caveats:
- The World Cup only occurs once every four years, resulting in a short window of opportunity.
- Consumers are becoming savvier in avoiding big-ticket items during Black Friday. Now they tend to wait for price reductions that inevitably come in the following weeks.
There are a few lessons we can take from last weekend’s main event and its influence in driving sales, as there is no linear method. The Super Bowl between the Patriots and Falcons is a good opportunity to look at some of the lessons we can learn in relation to sales opportunities in the TV retail business:
Know your Audience, Seize The Opportunity: Watching the Super Bowl goes hand in hand with needing a great TV – it’s a clear path for consumer electronic sales. But what is equivalent to the Super Bowl in your industry? If you’re in financial software, maybe it’s the end-of-year planning season. The key to success lies in knowing the seasonal ebb and flow of your market, so that you are ready to sell your solution at the crucial moment when buyers are most receptive to offers.
Get Territorial: For last week’s TV sales, it is likely that sales will increase more in Atlanta, the New England area, or even the host city of Houston, than any other region in the country. If you are in, say, Pittsburgh, Green Bay, Dallas or Kansas City – areas that had their respective teams get eliminated from the NFL postseason – maybe not so much. Like the above suggestion about knowing your audience, its equally as important to understand where geographically your audience will be most in need of what you are offering, and when. Here are a few other tips on managing sales territories.
As outlined before, the Super Bowl’s a great example of how a big event drives changes in buyer behavior – not to mention our waistlines. Through proper planning strategy and by mentally putting themselves in the consumer’s shoes, sales teams can apply those same thought processes in the context of their own industry.
These are simple lessons that can lead to a Super Bowl winning sales performance. We hope you enjoyed the game, the commercials, and the seven-layer dip over the weekend!
Best Practices for Territory Design and Management
Handling sales territories can be a difficult endeavor for any business leader. Learn what it takes to effectively research, set, and manage territories as well as the best ways to handle sales rep pushback and how to foster a supportive team environment.