In the context of automotive sales, "fast starts" refer to incentive programs that reward salespeople for achieving high performance early in a given period, typically at the beginning of a month or sales cycle.
The idea is to motivate the sales team to start strong, setting a positive momentum for the rest of the period. They aren't as common as they were decades ago. But we still see them. The rewards can vary but often include bonuses, spiffs, or other incentives.
How Fast Start Programs Work
Fast Start programs are usually announced at the beginning of a sales cycle, such as the start of a new quarter or year. Sales managers set clear targets that need to be met within a specific timeframe, typically the first month or first quarter. These targets might include the number of vehicles sold, revenue generated, or meeting specific customer satisfaction goals.
For example, a dealership might set a target of selling 20 cars within the first month of the quarter. Salespeople who achieve this target might receive a bonus of $500 or a special spiff for each car sold beyond the target.
Synonyms:
- Fast Start Bonus
- Fast Start program
- Kickoff Bonus
- Push Bonus
Departments:
- Sales: Directly involved in meeting the targets set by Fast Start programs.
- Finance: Works with sales to ensure financial goals align with incentives and manufacturer programs.
- Management: Sets targets, tracks performance, and rewards achievements.
Potential Impact of a Fast Start
Consider this hypothetical scenario: Your management team launches a Fast Start program at the beginning of Q1. Salespeople are then challenged to sell 15 vehicles in the first month. Several people hit these targets and receive a $300 bonus per vehicle sold and an additional $1,000 bonus for hitting the overall target. This program led to a 18% increase in sales compared to the same period the previous year, demonstrating the effectiveness of Fast Start incentives.
Fast Starts, commissions, who Cares?!
Fast Start programs can spark commission initiatives. By achieving early targets, salespeople can boost their earnings quickly and set the stage for a profitable sales cycle. This early success can also motivate the team, creating a competitive and productive atmosphere.
Dealerships using a DMS-driven commission platform can easily track these achievements and ensure timely and accurate payouts, further enhancing motivation. For sales managers and dealership owners, implementing a well-designed Fast Start program can lead to higher sales, increased motivation, and greater overall profitability.
