No matter how popular or on-trend your product is, if you can’t create an incentive reward program in a cost-effective manner, then you just won’t make a good return on your investment. When your manufacturing facility is not producing the profit margins that you desire, you’ll need to seek out some options that make sense and make your channel sales partners and accountants happy. As incentive and reward management systems evolve, brands and partners are continuing to modify business models, which serves as a catalyst for the change needed to work the core programs. These marketing programs are arguably the most important factors for businesses with indirect sales channels and contribute to the overall success of localized marketing strategy. Here is why: -Rewards programs drive channel revenue. Incentivizing your channel with MDF funds based on sales performance encourages branded co-marketing engagements. The more marketing funds that are dispersed through the network, the more likely the partner is to market the brand, which in turn increases foot traffic and sales. -Compensation programs build up a focused separation for your channel program. Giving your channel guide access to brand dollars expels the biggest boundary to a section for channel showcasing. -Reward programs […]
Tag: Reward
Top 7 Reasons Why Employees Steer Clear of Health and Wellness Programs and How to Reel Them Back In
Implementing a health and wellness program for your employees is an excellent strategy to engage and motivate employee retention. While these programs can offer great benefits such as health improvements, lowered health insurance costs, and increase productivity, they can also send up a red flag to a potential participating employee to run the other way. Listed below are the top 7 reasons why an employee may avoid a health and wellness program and how to resolve it. Problem: Over worked. Many employees feel work makes them tired, stressed and overworked. It makes sense that the health and wellness message is overlooked, especially when the employer is asking employees to participate in cutting back company costs. Solution: Avoid mentioning the benefits the company will reap and send a clear message that this program is for the employee and their health. *Tip: Offer paid lunches to those who participate in legitimate health care screenings on their lunch. Problem: Upper management doesn’t participate. This should go unsaid, but let’s face it, it’s been done. It gives off that “I can do what I want since I’m a manager vibe” and it can be offputting. When upper management doesn’t have to participate, and they […]
Successful Loyalty Program Delivers Channel Sales Results
Your channel sales team drives a significant portion of your company’s revenue. Their performance is important to you – and it’s important to make sure you have the best loyalty program to help ensure your sales team is happy and productive during the campaign. Participation by your partners is essential but can present challenges that can impact your bottom line. To avoid these problems a streamlined and well-organized loyalty and incentive and programs comes into play. As incentive and reward management systems evolve, brands and partners are continuing to modify business models which in turn drive the change which is necessary to work the core programs. These marketing programs are arguably the most important factors for businesses with indirect sales channels and contribute to the overall success of localized marketing strategy. Here is why: -Rewards programs drive channel revenue. Incentivizing your channel with MDF funds based on sales performance encourages branded co-marketing engagements. The more marketing funds that are dispersed through the network, the more likely the partner is to market the brand, which in turn increases foot traffic and sales. -Reward programs energize new products by giving channel sales turn-key access to center dollars and prompt control over how […]
