In any business that has an indirect route to market, where their products go to a vendor or distributor to sell, a motivated partner that prioritises the sale of your products over your competition is vital.
This can be a highly competitive environment, with lots of businesses all vying for the same level of attention and mindshare from sales teams. So, what can you do to ensure that your channel is as motivated as it can be?
The benefits of a motivated sales channel
A motivated distributor can be a huge boost to your sales and revenue. Forging a supportive relationship, where you help your suppliers to become more knowledgeable and adept at selling your products, can provide benefits to both businesses in terms of sales effectiveness.
The right incentive program can help improve behaviour within a sales team and help your partners to deliver better sales performance.
You won’t be the only business trying to get the attention of sales teams, especially in environments where your channel partners have access to a range of products from different suppliers.
Driving performance through an incentive program is a key tactic to maintain the attention of sales teams and help them to deliver the results you and your partners need.
A truly motivated channel can deliver a range of benefits to a business, including:
- Improved product knowledge
- Improved sales confidence
- Better and more sales
- Better attach rates
Reaching the point of mutual benefit with a channel partner takes time, effort and investment. Reaching joint goals, and effectively motivating your sales partners, requires you to overcome a series of different roadblocks.
Want to know more detail about how you can implement a program?
Read The Ultimate Guide to Channel Incentive Programs
Overcoming business relationship issues
Boosting your channel sales performance often requires you to adapt to, and overcome, a few challenges.
The battle for mindshare
Other businesses might use the same channels and vendors as you. They might offer similar products to you and compete within the same spaces. One of the largest challenges to overcome is ensuring that your products and services stand out from the crowd, and that employees have you and your brand front of mind when dealing with potential customers.
Your vendors need to be motivated to sell your product, but also be knowledgeable and confident enough to focus on your brand as a first choice when dealing with their clients.
Competition and saturation
You might be running an incentive program to drive engagement with your brand and boost sales, but your competitors might be doing the exact same thing. Much like with the battle for mindshare, you need to ensure that your incentive stands out, the best way for it to do so is with the right rewards.
Offer prizes that engage a team and offer benefits to businesses that encourage them to push your incentive over the competition. These could be instant rewards that keep sales teams constantly engaged with your brand, or a points-banking scheme that enables individuals to ‘save’ for goal items. Longer-term campaigns could result in a major prize such as a team trip or event. The key is to make sure that your reward is something desirable, and especially more desirable than the rewards being offered by other brands in your sector.
Planning and execution
Your incentive should be a collaboration. Put your partners first, and run your incentive with a view to training and coaching employees in order to provide the boost to performance you need.
Your incentives should be well thought out in order to maximise engagement and encourage the best performance of your sales teams. Our blog post about how to motivate your sales channel explains what you need to keep in mind.
In a saturated market, it is vital that you’re reactive and able to launch your incentive programme quickly.
This can ensure that you get a head start over competitors, but it also means you can respond to a need by providing extra motivation to channel teams without delay, especially if the product sales window is short. Sales might be slower than you projected. But deploying an incentive in response to this can be the reinvigoration your channel teams need and can help steer sales in the right direction.
To learn more about how using channel incentives effectively can be a huge benefit to your business, you can download our new ebook here.
We are CR Worldwide
Brands of all types trust us with their Channel Incentives
How we can help you to motivate your channel partners
Understanding the benefits and the obstacles to overcome can help you launch incentives that maximise the potential of your resellers and distributors.
We can help businesses to reach their true sales potential using our channel sales programs. These schemes are:
Easy to implement — Our turnkey MyRewards® platform can be tailored to suit your requirements, meaning you can be ready to implement incentive schemes quickly.
Easy to use — Our platforms are made to be quick to launch and easy to understand, so your sales channel teams can meet their targets, view potential rewards, and chart their progress towards winning them.
Easy to manage — Our programmes offer real-time reporting in participation with ROI and budget management. This makes managing, organising, tracking performance and assessing the value of your incentive schemes simple.
We’d love to excite, engage and inspire your teams with our Channel Incentive schemes. To speak to a member of our award-winning team: