Engaging and motivating your channel partner sales team and getting them excited about your products and services is a crucial aspect of your channel marketing strategy to generate sales, customers, and new leads! Channel partner incentive programs are an excellent way to motivate your channel partners, boost profitability, and it is an easy and cost-effective opportunity that every company should explore. It’s clear that Incentive programs are one of the secrets to Channel Sales Success. When looking at your channel marketing strategy and how incentives benefit it, there are three essential components to include. These key elements were used by a leader in the Automotive Industry and a client of All Digital Rewards. Their goal was to encourage its dealers to sell genuine accessories over that of third party parts to their customers. The promotion involved several departments at each dealership. The engagement that was delivered had to fit the needs of the dealer, the respective departments, and their consumers. The program was running for several years prior to them reaching out to All Digital Rewards (ADR). Their program was declining and needed a boost, and All Digital Rewards was honored to re-launch their program. Here’s how we did it: […]
Category: Channel Sales
The Secrets To Top Performing Manufacturing Companies Incentives and Rewards
With the pandemic raging on, many businesses have been worried about the effect that the current health crisis will have on their finances. A survey sponsored by the National Association of Manufacturers (NAM) revealed that about 80% of manufacturers expect a financial impact on their businesses, particularly as their work cannot be completed remotely by employees. When it becomes safe for businesses to resume normal operations, the manufacturing sector will be hard-pressed to come up with ways to recover. As a result, increasing productivity among employees, sales team members, and channel partners will be essential to their success. A 2020 study on Top Performers from the IRF showed that incentive programs, such as sales incentives and channel partner programs, were common among the most successful manufacturing companies prior to the pandemic. All companies classified as top performers in the IRF study had to show 5% revenue growth in the previous year, have a customer satisfaction/loyalty rating, and an employee satisfaction rating of at least 90%, and have a high-performing employee loss rate of less than 5%. Top Performers are likely to have broad-ranging recognition programs. 98% of top performers are in support of reward and recognition as part of achieving […]
Transform Your Channel Sales Incentive Program With the Best Software & Solutions
The most successful channel sales incentive programs are supported by the best software and technology. The best channel partner programs value incentive companies for the resources and support their software offers to their channel marketing strategy and channel sales incentive programs. Whether you’re setting up new sale incentive programs, revamping existing sales incentive plans, or looking for channel sales incentive program ideas, you should talk to our experts at All Digital Rewards. We know how important the right technology is to support a strong channel sales incentives program. Types of Programs We Support We support a wide range of channel sales partnership programs including: Your alliance partners who share customers with your business will always enjoy the benefits that rewards, incentives, and engagement bring. When your alliance partners are motivated, it will increase sales revenue and brand awareness. Our team knows how to navigate the nuances of your alliance partnership rewards program. Reseller partner incentive programs have their own specific challenges. With the right incentive technology solutions, we can help you maximize these partnerships. Your reseller incentive program can be the key to greater ROI for your business. Your trusted referral partnerships send qualified customers to your business. They want […]
Learn How To Measure Your Channel Sales Program’s Success
Data is the secret to measuring your success. If you want to dominate your channel sales and set yourself up for an awesome growth curve, you need the right data to build out the metrics for your program. Once you have the data, you can identify your program’s strengths, weaknesses, opportunities, and threats with ease. The most important thing to figure out is what metrics do you need for your channel sales program? You should divide your metrics up into categories: Profitability, Recruitment, Training/Support, and Success. Here is the channel sales data you need for each category: Channel Partner Profitability Metrics: CAC for direct vs, partner sale The retention rates for direct sales vs. partner sales Cross-sell and upsell rates for direct sales vs. partner sales Channel Sales Recruitment Metrics: What is the total number of partners Partner attrition rate Recruitment quota attainment data The percentage of partners recruited by channel (for example, 45% from networking groups, 28% from proactive outreach, 17% from referrals, etc.) The average cost of recruiting and onboarding a new partner The average length of time to recruit and onboard a new partner Channel Sales Training & Support: The percentage of partners who are using the […]
Cash-Based Incentives Your Channel Sales Team Will Adore – ADR
Channel Partner incentive programs are a fantastic way to motivate your channel sales teams. Incentive programs are used to maximize sales from your channel partners, increase motivation, improve partner relationships, and to create a positive culture. Choosing the right rewards and incentives ensures that your channel partners will have the best experience with your channel sales program. Our case studies have shown amazing returns on investment for companies that have implemented the right rewards and incentives for their channel partner incentive programs. Cash Equivalent Survey Incentives for channel partner participants are a popular choice among companies and their program participants. Participants love cash-equivalent and cash-based incentives. These can include physical and virtual gift cards, VISA prepaid cards, direct-spend (DS) codes, checks, and so much more. Using digital cash-equivalent incentives allows you to save both time and money. Your participants can receive their rewards instantly, and you don’t have to go through the time, effort, or cost of mailing out individual checks to your participants. All Digital Rewards has an extensive catalog of digital reward offerings, to include name brand gift cards to your participants’ favorite stores. Cash-based incentives can also be blended with merchandise. Blended incentive marketplaces often perform better […]
Should You Introduce New Technology Into Your Channel Sales Incentive Program?
No matter if your organization is just starting out, or has been using a channel sales incentive compensation program for years, the correct technology is key to your success. Does your current incentive management software come with too few incentive options to be effective to your channel marketing strategy? Have you run into security issues with your current technology? Is the user interface overly complicated or buggy? Are you being charged too much? You should consider upgrading your channel partner incentive program technology to improve your sales channel marketing program. Your incentive management system technology is the bedrock of your incentive program. If you don’t get the base right, the whole program will have problems. The right technology can lead to high ROI, program success, and greater channel partner satisfaction and engagement. The wrong technology can turn your incentive program into a giant money pit, swallowing up your profits and productivity. When you pick the wrong incentive program technology, your only return on investment will be stress. When comparing different incentive program technology providers, how do you figure out the best technology? There are many steps you can take to ensure you’re getting the best channel partner incentive management technology. […]
How to Guarantee Successful Sales Incentive Programs
If your company relies on a network of channel partners who play an integral role in bringing your products and services to market, you need to address a number of partner management needs that are unique and diverse. You may have looked at or are already using channel partner incentive programs to help strengthen your partner relationships. Channel partner incentive vendors will tell you that there are some key steps to take to guarantee your sales incentive program’s success. To create a successful channel sale incentive programs, you will need to choose the target of your sales program. Do you know what your goal is? Do you have a current program you are offering? Have you considered last year’s sales? Your desired growth? These are all great questions to help you determine what your objectives are for your sales incentives rewards program. If you have an existing program, identify the challenges you have faced in the past, so you won’t run into the same issues. If you’re creating new sales incentive plans, conduct research within the industry and the participant demographic to see what will work best for you and your partners. To deliver on what you promise, you must […]
Best sales incentive plans Rewards 2020
How do you go about executing super engaging sales incentive plans? By choosing the right rewards! There are several components to getting the best sales incentive plans rewards. You need to find out what rewards will motivate your sales force, you should have the right reward program technology, and work with channel partner incentive vendors. In order to help motivate and inspire your sales incentive program participants and encourage them to succeed, the incentive rewards offered should have high perceived value and be tailored to your participants’ demographics. Some of the most popular choices include gift cards, prepaid cards, and incorporating sweepstakes and instant win games. Gift card rewards’ benefits are well-known. Gift cards are often a superior choice for budget-conscious participants, as they allow them to use their gift card rewards for things they might not normally spend their money on. The gift cards your sales force members earn from your rewards programs can be redeemed at thousands of online and in-store retailers. Additionally, the perceived value of those gift card rewards is often even higher than the perceived value of cash rewards. A consumer’s use of gift cards may encourage them to buy things to spoil themselves — […]
Increase Your Channel Sales Program’s Success With Instant Win Games
The new year is fast approaching and it may be time for you to revamp your channel sales incentives program. There are lots of options to give your program a make-over for success. One of the most popular choices is adding instant win game applications to your incentive rewards program. Instant win games are extremely successful in getting higher levels of engagement in your channel sales incentive plans. Instant win game applications can be fun and exciting like a Plinko game or mobile phone scratch-offs and spin to win games. These games allow participants to experience instant gratification. Games can also be run over a period of time, helping to deepen participant engagement. Instant win game companies have found that these games are often wildly successful and lead to more games, more engagement, and a higher ROI. As more and more of your competitors come out with instant win games and sweepstakes technology apps to engage their participants, most companies do not understand how to use gamification competitively. Sweepstakes, instant win games, challenges, level, and progress measurements are all features commonly offered by instant win game developers and channel partner incentive vendors. When you get the spirit of gaming involved […]
How To Massively Increase Your Channel Sales Program’s Success
Whether you have the best or the worst Channel sales partners, a rewards program can go a long way to improving your participants’ and partners’ performance. Good Channel sales incentive plans will be cost-effective, enticing to your participants, have the right reward offerings, and give you a quality return on investment. When you are are looking at Channel sales incentive program ideas, it is essential to consider what sort of incentives you plan to work with. Gift card incentives, for example, are very popular forms of both physical and virtual incentives, prepaid Visa virtual and physical rewards are another excellent option, as are experiential rewards and merchandise. The rewards you use will be best if selected and explicitly tailored to your program, taking into account the interests of your participants’ demographics and your budgetary constraints. Ideally, to ensure a seamless reward experience, both for you and your participants, you should work with channel partner incentive vendors and reward management applications. Channel partner incentive companies know how important it is to have the right incentive rewards and technology to support your channel partner incentive program. Additionally, your channel sales technology provider may also recommend a variety of different ways to reward […]
Plan For The Best Sales Incentive Program
The best sales incentive plans are simple, flexible, easy to administer, easy to monitor and improve, have low overhead costs, and bring about measurable results. Most companies use their sales incentive plans as a way to reward their sales force for their efforts on behalf of the company. The sales incentive plan should help promote loyalty to the company and increase participant performance. If your sales incentive program does not meet these criteria, it is a sign that you need to review your sales incentive plan and consider making changes. In order to help motivate and inspire your sales incentive program participants and encourage them to succeed, the incentives offered should have high perceived value and be tailored to your participants’ demographics. Some of the most popular choices include gift cards and incorporating sweepstakes and instant win games. The benefits of gift card rewards are well-known to most companies. Gift cards are great for budget-conscious participants, allowing them to use their gift card rewards for things they might not normally spend their cash on. The gift cards earned from these types of rewards programs can be redeemed at thousands of online and in-store retailers. Additionally, the perceived value of those […]
Software & Solutions To Transform Your Channel Sales Incentive Program
The best sales incentive plans have the best software and technology backing them up. Successful channel partner programs prize incentive companies for the support and resources their software brings to the table. No matter whether you’re setting up new sale incentive programs, revamping existing sales incentive plans, or just looking for sales incentive program ideas, you need to talk to the experts at All Digital Rewards. We know how important the right technology is to support a strong channel sales incentives program. We support a wide range of channel sales partnership programs including: Your alliance partners who share customers with your business enjoy the perks that incentives, rewards, and engagement bring. Motivated alliance partners will increase brand awareness and sales revenue. We know how to navigate the nuances of your alliance partnership rewards program. Your trusted referral partnerships that send qualified customers to your business want to feel engaged and appreciated. Regardless of if you are using a strategic alliance program, direct to individuals program, or partner network program, we have incentive software solutions that will take your referral partnership incentive program to the next level. Reseller partner incentive programs come with their own unique elements. With the right incentive […]
