5 Steps to Take While Leveraging Channel Partner Incentives

Channel partners are an integral part of indirect sales.

“If you give it to them, they will sell it” is not necessarily true for channel partners. And even if it is, you will not be maximizing the number of sales you could make. Sales can prosper when your channel partners are engaged and loyal to your brand.

To begin that engagement process, your product must be accompanied by ancillary access to specific services in order to engage your channel partners and encourage and empower them to sell your product.

These services can include:

  • Unique sales training and access to product training
  • New and improved iterations of vendor products
  • Vendor support services and technical support services
  • Unique channel partner incentive program

ESG Incentives can set up a channel partner incentive program specifically geared toward maximizing your channel partners sales.

5 Steps To Make While Leveraging Incentives

  1. Establish what your partner needs.

    To establish what is best for your channel partners, first, establish what your partner needs and wants from their brand partner. Give them access to training that will elevate their processes, which in turn will motivate your channel partners to sell your product. An advocate that is trained well will be one of your best salespeople.

  2. Meaningful connections.

    Another incentive that channel partners are craving is a higher level of personal contact. Meaningful connections will help your liaison to feel more personally connected to your product, which will lead to a stronger partnership.

  3. Singular points of contact for systems.

    These are a pain point for many channel partners. They like singular POCs for their vendors, and the fewer the number of systems they need to access in order to sell and function, the easier their jobs become.

  4. Access to a support center.

    It is rare that every person will be able to pick up the software necessary to complete a sale the first time. Therefore, it’s important to give your channel partner access to a support center, where frequently asked questions and technical services can be accessed quickly.

  5. Unique incentives to drive behavior.

    Finally, what will influence partner loyalty is plainly more and better incentives (such as the kind ESG can provide). Everything from travel rewards to loyalty rewards and better corporate meetings – incentives should take on a variety of shapes and target the different audience that each of your unique partners will identify as a unique reward. Create the right mix of company, team and individual incentives that best motivates your channel partners, makes them happy, and solves an issue in their life.

Remember: When your product or service makes a difference in your channel partner’s life, they are likely to be more engaged with your brand. To facilitate this development, incentivize them to stay and partake of the success of both of your companies.

How to Pick the Right Incentives

Addressing the kind of incentives that will be the most beneficial to your channel partner to build brand loyalty can be tricky. You should speak with a qualified corporate happiness specialist, and take the following steps to make sure your company is headed for success.

Steps to motivate your partners:

  1. Assessment of your current program.

    Take an assessment of your current program with your partners and figure out where you stand with your competition. How can you elevate your partners’ success?

  2. Do you have what the modern-day company needs to successfully complete a sale?

    Take stock of your current incentive program.

  3. Understand what your current goals are.

    Evaluate how those goals fit into your channel partner program.

  4. Always be willing to innovate and change.

    Test constantly, learn continuously, and monitor the performance of your incentive program all the time. Adapt as much as needed to ensure a mutually beneficial partnership at all times.

Your incentive program should be the vehicle that empowers your channel partner and your business to develop a meaningful system in which both of you succeed. If you’re not sure how to begin, contact us today.

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