Everyone in sales enjoys a good sales contest and IACFB professional members, factoring brokers, and commercial finance consultants are no exception. Each year, IACFB sponsors two (2) exciting sales contests for it’s members which include…
- Summer Membership Drive (June 21st-September 22nd): prizes and awards based upon new IACFB membership referrals
- Career Builder Challenge (September 22nd-September 21st): prizes and awards based upon new client submissions and receivables funded through IACFB Wholesale Operations
Both contests offer valuable awards and prizes and are designed so virtually any IACFB member can “cash in” and cash in BIG. But to do so, you’ll need to learn a little bit about how organization sales contests are designed and more specifically, about the unique Trophy Point Awards System at IACFB. Members accumulate two (2) types of Trophy Points:
- Core Trophy Points
- Contest Trophy Points
What are “Core” Trophy Points and How Are They Earned?
At IACFB, Trophy Points are awarded to members when they join or as they complete specific tasks. Every IACFB Members has a “core” trophy balance. For example, members earn “Core” Trophy Points for…
- Becoming an IACFB Member
- Professional Member = 10 Trophies
- Agent Member = 25 Trophies
- Factoring 101 Freelance = 50 Trophies
- Posting comments and starting new threads on the Factoring Broker Forums = 5 – 50 Trophies
- Passing the Factoring Proficiency Exam = 70 – 100 Trophies
- Subscribing to the Pipedrive CRM System = 15 Trophies
- Adding Agents (Factoring 101 Only) = 10 Trophies per active agent
Core Trophy Points provide the “base” trophy count when a member begins or enters any contest such as the Annual Career Builder Challenge. Contest Trophies are then added to a members “core” count as they are earned during the contest period.
Paul is an IACFB Sponsored Agent who is relatively active on the Factoring Broker Forums. His Core Trophy Count is 148 and is calculated as follows…
- 25 Trophies as a Sponsored Agent
- 37 Trophies for current posts level on the Factoring Broker Forums
- 86 Trophies for scoring an 86% on the Factoring Proficiency Exam
Paul will start every IACFB contest with 148 Trophies. He can increase this “core” amount by posting additional content on the Factoring Broker Forums and by subscribing to Pipedrive through the IACFB “Refer a Friend” link.
What Are “Contest” Trophy Points and How Are They Earned?
Contest Trophies are added to a member’s “Core” Trophy Base during any contest. Some can be added at the start of any contest such as Trophies for existing clients on the books. Others will be added as the contest progresses at IACFB and new clients are brought in. So “Contest Trophies” are earned by…
- EXISTING CLIENTS on the IACFB books as of the contest’s kickoff date = 50 Trophies per EXISTING client
- Generating NEW CLIENTS during the contest through IACFB Wholesale = 100 Trophies per NEW client
- Adding new SPONSORED AGENTS or NEW MEMBERS (Factoring 101 Program) = 10 Trophies per new Agent added or new member referred during the contest.
With IACFB’s unique Trophy Point Award System, it is very easy to begin every sales contest each year as an AUTOMATIC WINNER, having built up enough contest trophy points so that all you need to do is pick out a prize. Now how great is that?
Build Your Core Trophy Points Early
It’s never too early to begin building your “Core” Trophy Points and it is relatively easy.
- Study your Factoring 101 Broker’s Guide and take the Proficiency Exam: You have two attempts and your highest score adds to your “Core” Trophy count.
- Post content on the Factoring Broker Forums: One of the easiest ways to boost “Core” Trophies is to start threads and post comments on the forums. Read an article on the Commercial Finance Consultant magazine and then post comments about it on the forums. You can earn up to 50 “Core” Trophy Points simply by getting active on the forums.
- Watch for Trophy Specials: Watch for Trophy Specials during any contest and build your “Core” Trophy as soon as possible. All IACFB Contests or Promotions are exciting and easy to win if you have built a solid balance of Trophy Points with which to enter.
Adding Sponsored Agents (The BIG Kahuna of Trophies for Factoring 101 Brokers)
For those in the IACFB’s Factoring 101 Program, one of the most productive methods of marketing is to build networks. Standard networks naturally include bank loan officers, accounting professionals, and other groups that can send business your way. One of the most powerful networks for business development, however, is to build networks of sub-agents using the IACFB agency concept and program. This is an exceptionally low cost yet highly productive method of marketing and should be on the “high-priority list” for all new Factoring 101 brokers. Additionally, Factoring 101 Brokers earn 10 Contest Trophy Points for each active agent they add to their network during any 12 month contest period.
Gina is an IACFB Factoring 101 Broker that has build a powerful network of 18 sub-agents that generate quality leads for her. Her “Core Trophy Point” balance is calculated as follows:
- 50 Trophies as a Factoring 101 Program Member
- 50 Trophies for her post and thread activity on the forums
- 85 Trophies for her score on the proficiency exam
- 15 Trophies for her Pipedrive subscription
Every year, during the annual Career Builder Challenge Sales Contest, Gina begins the contest with 200 Trophy Points. She must now only meet the one requirement of landing one new client during the entire contest year which generates 100 Trophies and to earn a Level One Prize. She can additionally elevate her prize level to Level Two by adding just a few new agents to her network or simply by referring new members to IACFB.
During the Contest Period (current year), 12 of her 18 agents generate just one new client each for Gina. This means she has reached and surpassed Level Five Status. If the total receivables factored by the 12 clients she now has on the books exceeds $750,000 per month, Gina will be driving a new lease vehicle paid for by her Lease Cash Monthly Bonus.
Checking Your Current Trophy Balance
For IACFB Professional Members, Agents, and Freelance Brokers, checking your current Trophy Point balance is easy. To do so, simply…
- Log in to the Factoring Broker Forums www.factoringbrokerforums.com
- Mouse over your USER PROFILE
- Your Trophy Balance is displayed
- You can also post a comment or new thread. Your avatar will display your current Trophy Balance