For companies that rely on channel sales for a significant portion of revenue, there’s been a noticeable shift in channel operations over the past couple of years. Evolving technologies, buyer behaviors, and environmental factors have all had some effect on how companies at various points of the channel conduct and experience business. For many, ch...
BLOG: Improving Incentive Programs to Increase Channel Revenue: 3 Essential Steps
For companies that rely on channel sales for a significant portion of revenue, there’s been a noticeable shift in channel operations over the past couple of years. Evolving technologies, buyer behaviors, and environmental factors have all had some effect on how companies at various points of the channel conduct and experience business.
For many, changes in the landscape have creeped up on them. The result? A tight, competitive market for top-performing, loyal channel partners. More than ever, companies are sharing the same partners. Thus, the need to stand out among channel partners is imperative. Manufacturers are tossing out their old, “vanilla” strategies in favor of developing more strategic, better-targeted, and high-impact incentive programs to stand out amongst competitors and appeal to partners.
Of course, the more strategic and complex the incentive program, the more difficult they can be to manage. They will include more precise eligibility requirements, such as complex combinations of products, purchase models, customer types, markets, market share, and geographies. The complexities are further amplified when you are offering complex products through multi-level complex channels!
The right incentive program will bring in the right partners. For most channel teams, going back to the older, simpler – albeit, easier to manage – incentive programs of the past is not an option if they want to be successful today. So, what do channel teams need in order to launch and manage more strategic – yet more complex – incentive programs effectively?
Purpose-built systems to define, operationalize, and assess their incentives. -CLICK THE LINK TO READ MORE-