Team Building: 8 Initiatives for Executives to Boost Bottom Line Results

 

Executives who perceive team building as a cost-centre are missing the mark. When team building is perceived as a “nice to do” discretionary item on the income statement it can be challenging to discern the difference between team building and team activities that are strictly recreational.

Instead of putting team building on the back-burner, unleash its full potential. Team building will pay for itself many times over if you engage teams in designing revenue-generating projects.

With the right approach, not only can team building pay for itself. The tools, strategies, and programmes designed through team building can generate measurable bottom line results.

Team Building That Pays for Itself

Don’t use recreational events as a substitute for “real” team building. Instead, team building can be a vehicle to design and execute initiatives that generate revenue and contribute directly to the bottom line (e.g guerilla marketing events, pop-up events, product launches, marketing campaigns, commercials, print ads,  and flash sales).

Here is how it works.

  • Set your targets
  • Prepare. (e.g. reserve venues, ad space on-line and in print media, locations for pop-up events or guerilla marketing.)
  • Ask the team to prepare. For example, ask team members to grow their social media networks and add clients and colleagues in other organizations to their networks. You may have to conduct a hand’s on social media boot camp for some team members.
  • Use a teaser.It could be print, on the radio and in social media. A save the date notice or a “Watch this space for something big about to happen on [date]” A major Canadian Retailer used this approach for their annual Record-Breaking Day flash sale. It was re-branded as Bay Days and expanded to a 5-day event.
  • Get the team together.
  • Familiarize them with a shared toolkit for brainstorming and decision-making.
  • Assign the project.
  • Give the group time to design the initiative in teams or as a whole group.
  • Launch and execute.
  • Measure results.

Examples of 8 Initiatives That would be Great for Team Building Projects

  1. csrprojectIdea Incubators: Engage teams in generating ideas for new products, new uses for existing products, and new target markets.Projects don’t always have to be marketing driven. They can focus on ideas for cost savings, removing bottlenecks, improving cross-functional teamwork, reducing red tape, improving customer service, and generating revenue.

 

  1. Pop-up EventsPop-up events are one of the best ways to grab the attention of a target market and leave a lasting impact.
  1. FlashSales.Get creative. Think Christmas in July events or design an event around a day that relates to your brand (e.g. National Chocolate Day)
  2. Guerilla Marketing Events Guerilla marketing events can garner a lot of buzz if they are really targeted. By shooting high-quality video footage, the life of the campaign can be extended and multiplied. They are ideal for product launches, re-branding, initiatives to reinforce your brand and boost your company’s visibility.
  1. Design Print Ads or Develop Content for Blogs.
  2. Product Launches or Location Openings
  1. TV Commercials or Marketing Videos
  2. Integrated Marketing Campaigns (social media, direct mail, viral marketing)

Team building can also be used to design and execute corporate social responsibility (CSR) and client appreciation initiatives.

Instead of putting team building on the back-burner, unleash its full potential. Engage your team in designing initiatives to generate revenue, reinforce your branding or build client loyalty.

Photo Credit: tec_estromberg (Flickr)


Team Building That Pays for Itself!

Visexecutaries: Seizing Opportunities
in our Shifting Corporate Landscape

During our powerful programme, participants work as teams or as a group to design revenue-generating or cost-savings initiatives.

Contact us today for details.


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4 thoughts on “Team Building: 8 Initiatives for Executives to Boost Bottom Line Results

  1. Dr. Scott Simmerman says:

    All that team building stuff needs one simple thing to impact profitability and performance: It needs to anchor to a desired alternative future and drive changes in business decision-making. It is not the activity, it is the debriefing. It is not the fun, it is the cognitive dissonance produced between actual game state and desired future outcome(s).

    Far too many activities are “team bonding,” with the focus on improving friendships and getting to know other people and all that stuff. Fine well and good. But me sharing a great apple pie and eating someone’s chocolate-covered organically grown strawberries will not have one iota of impact on results. Sure, I might get less angry when they say something stupid at a meeting, but am I likely to improve MY performance because I know them better? UNlikely,

    We push things differently. We tell them to collaborate and optimize, for example, and they choose to compete. Their choices sub-optimize the overall results, which was not the goal, and we then discuss why they chose to do that, how that is like what they do in their workplace(s), and what they could and should be doing differently.

    If you ain’t got a solid debriefing based on obvious behavioral choices and measurable results, then YOU are choosing to sub-optimize the results of your team building initiatives. And if you get no results, or poor results, from your efforts and expenses, then you will probably stop doing teambuilding down the road. Walking around on some treasure hunt or climbing some ropes or paddling down a river are not going to get you to your destination, in my opinion…

    If you want to improve results, do things that will improve results.

    .

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