If you’re part of a channel sales chain, it can be easy to feel disconnected—it’s not uncommon to have miscommunications, as well as important details and data falling through the cracks. This means lower sales and fragile partnerships, which can weaken your business big time. That’s why a channel incentive program is such a powerful tool: It can facilitate communication and collaboration, even between channel sales partners that don’t normally deal with one another. These factors can then contribute to building loyalty and increasing sales for every party involved.
Here are just a few of the ways a channel incentive program can get your sales chain connected and thriving!
Use fun marketing strategies to get your program off to a strong start.
An exciting, well-organized launch is a key factor in the success of any incentive program. With channel sales, you want to drive up interest and engagement from the start by holding contests and sending out regular communications to remind your participants about the upcoming launch.
Be precise in your sales promotions and goals.
When developing any incentive program, having specific goals is incredibly important—otherwise, how can you develop effective strategies? This rings especially true for channel incentive programs, where clear communication can make or break a program. Consider this real-life success story: When our client, Mitsubishi Electric Cooling and Heating, noticed that they were losing contractor sales to competitors, they devised a channel incentive program to help resolve the issue. Their overall goal was to increase sales but, more specifically, they were looking to win over contractors who had not previously sold their units. The program was a roaring success, leading to a 45% increase in units sold as well as an amazing overall ROI of 307%!
Utilize corporate events and incentive travel to reward your VIPs
In a channel sales partnership, there’s no better way to treat your VIP participants like royalty than with exclusive travel incentives and luxurious corporate events. A good incentive program provider will be able to make planning and executing these events a breeze, allowing you to focus on building your VIP partnerships and creating memories that will last.
These are just a few of the channel incentive strategies that can take your channels sales to the next level—take a look at our slideshare below to learn more about these incentive strategies and others!