Incentives raise the sales bar, inspiring achievement in internal teams and brand loyalty for independent agents. Sales channel incentive programs are designed to help you:
Increase overall sales volume to produce higher ROI.
Establish clear goals and easily track KPIs.
Improve partner marketing and communication.
Promote product education for better bundling and cross-sales.
Gain quality insight into your channel with more complete customer data.
Identify and engage unknown channel partners throughout the entirety of your sales channel.
What steps are involved in launching a sales channel incentive program?
Start From The Beginning
Determine objectives for targeted segments – such as increased sales from dealer-distributor reps, or maybe improving product knowledge among contractors.
Build Your Budget
Allocate the budget needed to successfully influence your channel partners. It typically costs $500 in reward spend per channel partner per year to meaningfully affect their behavior.
Based on your goals, determine the timeline of your promotions, and learn what interests your audience.
Measure Your Performance
Set KPIs (key performance indicators) that will determine the success of your channel incentives program.
Go to market
Build awareness and engage your channel partners, making sure they are actually redeeming their points.