7 Myths of Channel Incentive Programs
Implementing a channel incentive promotion to light a fire under your partners is a tried and sometime-true proposition. This e-book from Through-Channel, a channel management platform company, takes a detailed look at some of the leading misperceptions about strategies and activities that can make or break an incentive program.
Some key take-aways from the e-book include:
- Avoid programs that really excite just the top 20% of partners driving 80% of your channel sales. Structure programs to reward new business by making sure that the middle 60% of your channel sees the reward for taking their game up a notch.
- Get creative with rewards. Cash doesn’t rule as much as people think, and there are some risks associated with offering dollars only to reward sales pros. Better yet, the non-cash value of many rewards can exceed the cost to purchase them.
- Think long-term, at least longer than the duration of most incentive programs. Extended programs can turn the spikes that result from short-term campaigns into more consistent partner performance and steadier gains.