An effective way to grow your customer base, improve brand awareness, and increase your revenue is through the use of a channel partner program. Below, we’ll answer some of the most common questions asked about channel partner programs, how they can benefit your business, and ways to set your program up for success. A business initiative that creates a new revenue stream from an established product distribution network rather than a direct sales channel. Motivation and engagement elements are the effort required and the value given to partners for them to successfully sell your products. It includes the mechanisms of how you deliver the components to them with or without technology. Successfully aligning the effort needed with the reward value with real-time communications and delivery creates real brand advocates forging a true partnership. It demonstrates that you value your channel partners and their success, and they reciprocate by selling your product in their sales funnel. Yes, if you choose the right channel program platform provider. Some features are out of the box, and others need to be customized – so work with a company that can do both. The effort required before issuing a reward might be as simple as […]
Tag: Channel Partner Program
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 […]
The Easiest Way To Motivate Your Channel Partners
Motivation is the secret sauce for success in your channel partner program. The question is, how do you cultivate the motivation your sales force needs? A recent Forbes article outlined six keys to workplace motivation: Set goals Celebrate milestones Provide feedback Empower problem-solving and learning Follow through on promises Experiment and learn Most people will agree that these are all effective ways to motivate people, but how do you put this information into practice? A sales incentive program is an excellent way to apply all six of these motivation tips. In this post, we’ll show you how your new incentive program can implement each of these elements to increase your sales force’s motivation and productivity. Sales incentive programs allow for clear goal setting for your sales force. By offering incentives to your sales force in exchange for the completion of specific tasks or goals, you will increase their motivation and give them clear objectives to work towards. For bigger goals, you can offer individual incentives such as virtual prepaid cards, branded gift card incentives, or travel incentives like cruises and vacation packages. Additionally, with the help of a points-based incentive management solution, you could also give your sales force the […]
How To Get The Most Out Of Your Channel Partner Program Through The Power Of Incentives
Savvy businesses know that engagement is the most important ingredient in a successful channel partner program. When your channel sales team drives a considerable portion of your business’s revenue, keeping the relationship between you and your sales team strong becomes an essential part of your business’s focus. How do you improve those relationships and get the most out of your channel partner program? Incentives! Incentives are a popular way of improving channel partner programs. The goal of an incentive program is to change behavior. If your incentive program doesn’t cause a change in behavior, it isn’t effective. Effective incentive programs motivate and engage your sales force, pushing them to greater success! A quality incentive program will require you to have the right rewards, the right technology, and the right administrator. Rewards have to be something that your sales force with value, while also fitting your program’s budget. The Right RewardsChoosing the right rewards for your incentive program can be tricky. Rewards have to be something that your sales force with value, while also fitting your program’s budget. Rewards can include Visa prepaid cards, gift cards, merchandise, digital incentives, travel, and experiential rewards. Demographic information, surveys, and an understanding of current […]
