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.
Why Channel Sales Incentive Programs Work
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 energize new products by giving channel sales turn-key access to center dollars and prompt control over how those dollars can be spent. Your sales partners will embrace and take part in brand controlled advertising programs.
Sales incentives will help you increase sales, create new markets, and stimulate greater partner loyalty, all of which you can construct your program around.
The Right Channel Sales Rewards
Of course, the best-designed loyalty program won’t work unless the incentive is a product that your end users value. Using checks, bulky merchandise or any other reward you have to mail to your participants can cause impatience and can keep your incentives from adequately motivating your participants. However, using a digital reward, such as All Digital Rewards’ virtual prepaid card is a lot faster and easier for everyone. The process goes something like this: after selecting a virtual prepaid card, it would be emailed to the participant immediately through the All Digital Rewards instant redemption process. Within minutes your participant will have their reward and can activate it immediately. Using digital rewards makes increasing engagement simple by giving your sales channel partner incentive program participants what they want when they want it.
All Digital Rewards specializes in program management software solutions utilizing various Microservices that provide single point integration, PCI level security, complex event processing, scalable proofing systems, reporting, and analytics. For more information about how our STACK™ SaaS reward management platform can benefit your incentive program initiatives, call 866-415-7703 now or click here to schedule a demo.