Thought Leadership
-
Article
How to create frictionless channel incentive programs
Whether your channel incentive objective is stretching the top 20% of performers or driving incremental performance of the middle ground, the engagement of your target audience is the first challenge that any channel incentive designer must overcome. A common assumption is that this is simply achieved by curating the right reward selection. After all, the […]
-
Article
A complete guide to channel incentive programs
As a tool in a vendor’s toolkit, channel incentive programs are pivotal tools in transforming channel relationships, influencing positive behaviour change and driving performance. The Incentive Research Foundation (IRF) found that non-cash channel incentive programs could increase total revenues by 32%, increase market share by 30%, and increase net operating income to 19% of revenue. Engaged, motivated channel […]
-
Article
How to enhance sales with effective channel partner incentives
According to research by Frederick Reichheld of Bain & Company, a 5% increase in customer retention can lead to an increase in profits of between 25 and 95%. If your objective is genuine customer loyalty, read on for our recommendations on why recognizing the crucial steps toward a sale is the key to enhancing your bottom line. The […]
-
Article
How to design a SMART sales incentive plan
The key to a successful sales incentive lies in the planning. According to research, 90% of the top-performing organizations use sales incentives to motivate, recognize, and reward their salespeople. However, while organizations may mean well, the sheer existence of a sales incentive doesn’t automatically yield the desired results. For sales incentive plans to be effective, organizations need […]
-
Article
How to calculate the value of sales incentives
In the competitive world of sales, incentives play a crucial role in motivating teams and driving performance. However, one common pitfall is rewarding “business as usual” activities instead of delivering added value to your business, leading to complacency and stagnation. Sales incentives should be strategically designed to inspire exceptional performance, innovation, and value. Read on […]
-
Article
Employee Engagement Lifecycle: A Complete Guide
If you’re in Human Resources (HR) or any sort of leadership position that involves hiring and retaining employees, this guide will explore what the employee engagement lifecycle is and the various strategies and technologies that improve and extend the lifecycle. What is the employee engagement lifecycle? The employee engagement lifecycle encompasses the journey an employee […]
-
Article
How to reduce employee turnover
How much is employee turnover costing you? It’s the stuff of Human Resources (HR) nightmares: Recruit. Screen. Interview. Negotiate. Hire. Train. It’s a huge investment. And then that investment starts Googling: “How bad will it look on my resume if I leave a job after eight weeks?” Something, somewhere, went awry between the time they accepted […]
-
Article
3 ways to drive culture and strategy with HR leaders
HR leaders might seem to have a limited set of data to gauge organizational culture, focusing on employee engagement surveys, employee net promoter score (eNPS), and exit interviews. However, if you have an employee recognition program in place, you possess a treasure trove of information that can drive strategic decisions and provide actionable insights for cultural […]
-
Article
A three-step formula to improve customer retention and drive loyalty
Personalization goes beyond just using the customer’s name. Recognizing a customer for achieving a milestone or engaging in a critical touchpoint should be specifically acknowledged. Start by gathering meaningful customer data. What kind of information are you collecting about your customers beyond their name and contact details? Are you recognizing first-time buyers, repeat customers, or […]