Channel partner relationships are essential for b2b2c business success. Building strong relationships that will motivate your channel sales team takes the right b2b2c strategy and sales team incentives. Incentives and rewards for sales personnel have been a cornerstone of successful B2b2c company motivation strategies. With the right incentive solutions and support structure, your channel sales partnerships will thrive.
Many people have questions to ask about incentives when creating or revising channel sales incentive and recognition programs. Some wonder when looking at their channel partner performance metrics, why incentives don’t work, or don’t seem to work with their current program. Others want to know if there’s really a strong tie between incentives, motivation, and workplace performance. Some are looking for rewards and recognition ideas and channel sales incentives examples.
Why You Need Incentives
Studies have shown that if a partner doesn’t start to market and sell your offering within the first 90 days of recruitment, it is very likely that they never will. Statistics show that by providing incentives and rewards for your channel sales partners, you help increase motivation and productivity, improving your ROI. It is true that some people believe that higher salaries are better than other incentives for motivating workers, but a study from the Incentive Research Foundation (IRF) showed that businesses that used a non-cash channel rewards program showed a 32% increase in total revenue and a 30% increase in market share.
What You Need To Make Incentives Work
Technology and Support
For your channel partner incentive program to be successful, you need the right technology and support to run your program smoothly. A study found that 73% of partners say vendor channel programs are too complex. You need to make sure that whatever type of program you’re running, participants can easily track their progress and access their rewards.
Your participants what top incentives that they’ll be able to really value. These could include offering custom branded prepaid debit cards, gift card options from highly-rated retailers (such as Amazon, Starbucks, etc.), experiential rewards, and chances in an instant win game for a single big prize. For ease of access, you can also include some of the most popular e gift cards and other digital incentives. Whatever rewards you choose, you must make sure they fit your demographics, or they won’t work. Taking to an incentive program rewards provider will help you find the best fit for your program.
All Digital Rewards
Working with a rewards program service provider like All Digital Rewards will allow you to easily set up a successful channel partner incentive program. We offer channel sales program management technology, reward delivery services, and channel sales incentive experts to help you through every stage of your program. Applying our SaaS Partner Relationship Management Platform will simplify even the smallest channel sales overlay promotion. We can connect to your existing system or provide an external solution to meet your needs.
To learn more about our ChannelSTACK™ SaaS Program Management Software, call us today at 866-415-7703, or click on the button below to schedule a demo.