Wondering how your channel incentive program compares to others?
Or, if it’s on track to deliver the ROI executives are looking for?
For many businesses looking to drive behavior in the channel with a channel incentive program, it all boils down to one question: how can I track channel incentive program success?
The key indicator, and ultimate goal, of loyalty program success, is that it drives revenue. But channel incentive programs take time to remodel participant behavior and build up loyalty. How then, between launch and program maturity, can your company gain insight into what a successful B2B incentive program looks like?
In our newly released benchmarks study, we sought out to answer just that question.
The Study: Breaking Down Channel Incentive Program Success
Currently running over 220 incentive programs, Incentive Solutions services a wide variety of clients in their incentive program needs. From customer loyalty building to employee recognition programs, our study focused specifically on programs that fit the following criteria:
- Strictly a channel sales incentive program;
- Active for at least three years or more; and
- Started after 2010.
The Five Benchmarks for Channel Incentive Program Success
Pulling data from 35 of our most successful programs, we concluded on five major benchmarks that indicate program success:
- Number of enrollments
- Reward distribution rate
- Reward redemption rate
- Program equity
- Performance tracking
Boiling down data to these five levels led our researchers to understand what key growth metrics power top-performing programs. Complete with graphs depicting ideal activity over the course of a five-year period, channel program managers can compare their current program data to determine if they are on track. The report also features a complete “engagement snapshot” comparing the ideal data points of all major key performance indicators in one place.
So what does channel incentive program success look like? To find out, download our free white paper.