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An indirect channel or ecosystem of partners presents both opportunities and challenges for businesses looking to drive measurable results and go beyond a transactional relationship. The opportunities The opportunity for vendors with indirect channels of distribution today is to go beyond the transaction and identify and recognize the behaviours and points of influence that an […]
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When it comes to the relationship between a brand and its channel partners, the ultimate goal is often loyalty. Channel engagement programs are designed with this objective in mind. After all, when we achieve brand advocacy and loyalty, we see increased sales, enhanced customer experience, and many other benefits. But how do you measure success? Are all […]
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In the world of channel partner incentives, the trend is to encourage specific behaviours and personalize rewards beyond just hitting performance targets for rebates. However, when it comes to building end-customer loyalty through a distribution channel, a well-designed tiering system remains one of the most effective and easy-to-understand structures. Let’s explore how we can leverage tiering to help […]
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Looking to build a high-performing sales team? For most sales organizations, this is a common goal. Strong salespeople close more deals and generate bigger profits. Motivated salespeople are always driven to do better and sell more. Happy salespeople are likely to stay loyal to you as an employer and continue to bring in great results. Yet, […]
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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 […]
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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 […]
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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 […]