What is a SPIF day?

Posted by Jo Kelly

Standing for Sales Promotion Incentive Fund (but we like to say Fun), a SPIF day is a sales floor event that aims to drive staff results in a fun way. But there are many other advantages to holding this event, which can tie in with your sales strategy and benefit your business.

We explain what a SPIF day involves, the key aims of holding one, and the benefits they can bring for you and your sales team.

What a SPIF day involves 

Also known as a hype day, blitz or sales floor event, a SPIF day is an engaging sales team incentive event that aims to help maintain momentum. It involves sales staff competing to win prizes by achieving set targets over a full working day. This could be high and fast sales, or a set number of meetings booked to, for example, meet potential clients or make a product sales pitch.

Sales teams often have multiple brands they need to promote, so companies can use SPIF days to help focus sales people on their brand. A sales floor can also see multiple incentives running from multiple vendors at one time. So you should create an engaging day if you want to reap the rewards.

Branding the sales floor day with a theme can help with this. Or giving away branded products and decorating the sales floor with, for instance, branded balloons.

You could also provide a fun themed lunch, like a food cart or hot dog vendor to add to the excitement of the day.

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Games are set through the day in which staff are given sales targets to hit. Competitions are held to encourage individuals to achieve their highest target possible. This could include the best sales every hour, across the whole day or focus on a particular product or product range.

Prizes can vary in value, from a crate of wine or shopping vouchers to gadgets, sports equipment, and experience days out. They are usually handed out in a prize-giving on the sales floor at the end of the day to reward the highest performers and recognise their hard work instantly.

Sales team and business benefits

As well as driving sales quickly, there are many benefits to holding a SPIF day for your sales team. Amongst other things, they can:

  • Create a bit of healthy competition between colleagues, pushing them to work harder and achieve more for your business
  • Boost engagement in targets and encourage individuals to focus on their performance
  • Build a sales person’s knowledge of specific products, ranges and brands to help improve sales pitches
  • Generate some excitement into the office and boost team spirits and morale and, in turn, company loyalty

Other beneficial elements of a SPIF day

There are different elements you can add to a SPIF day to keep your staff engaged. Leader boards can be set up to display top selling performers, while rolling TV screens can remind employees of the rewards on offer. Mini games can also be organised, which staff can play periodically to refresh and refocus their minds through the day.

Because of competitive elements like this, the results of these sales team events are easy to measure. This means you can easily keep an eye on individual performance through the day and see which staff have worked the hardest, or excelled themselves, and what targets they have achieved.

You can add an educative element to the event to boost staff’s understanding of specific products and brands too. This can be done by holding product knowledge-building sessions through the day, such as quizzes, where staff can compete to answer questions about products to win prizes.

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Why hold an event and when?

You can hold a SPIF day to fit with many of your business’s aims and developments. For instance, you could set one up to help increase awareness of a new product or range of products, or to provide a boost to sales of a product that isn’t selling well or push sales across an entire brand.

Sales floor events can be used to launch new products or a rebrand, making staff and customers alike aware of new brand messaging. SPIF days can also be used to help launch a larger sales incentive programme.

Alternatively, it can be used to mark the end of a sales programme, or refocus and motivate a sales team during a long incentive. SPIF days can even be themed around the destination of an upcoming incentive travel trip – a casino theme for a trip to Las Vegas, for instance.

Product awareness and launches aside, a SPIF day can just be used to break up the repetition of the working day in sales to help stop staff becoming bored, uninspired and disengaged.

How we can help with sales floor events 

From driving product sales to motivating staff to hit higher targets, SPIF days can be a big success for your business. We’d love to help you engage, motivate and inspire your team with our innovative sale floor days services. To speak to a member of our award-winning team:

Jo has worked at CR Worldwide as Events Operations Director since 2004. She is responsible for scoping and delivering all types of events, for clients of all sizes, globally. She manages the division’s team who organise and execute award-winning events – ranging from one-off sales floor days, corporate hospitality events and incentive travel trips, to annual conferences and partner summits.