Channel incentive programs are extremely powerful tools that can enable your company to surpass sales revenue goals. Your dealer owners and channel salespeople represent your bridge to the consumer, and their motivation to push your product over similar competitor offerings can be the difference between making the sale and losing out on potential business.
The two strategies through which you can stimulate sales of your product by your channel members include push and pull strategies.
Push strategies essentially “push” your dealers to attempt to sell your product over competitor offerings. Every program centers around offering a channel incentive, either to the salesperson or consumer, which compels them to buy your brand.
Implement push strategies such as:
Travel Incentive Programs – Reward those dealership owners and channel salespeople who meet quota or win a competition with exquisitely planned VIP trips. They’ll feel like royalty, appreciated for their efforts, and motivated to succeed in the future.
Merchandise Programs – Engage and incentivize with lower ticket items such as sporting goods, electronics, clothing, and other fun and useful items. Custom branded merchandise leaves a nice personalized feel that increases brand awareness and serves as a constant reminder of your company’s generosity.
Training Programs – It is crucial to invest in training and educating those who are on the front lines trying to push your product. It’s no secret that salespeople who feel confident with knowledge of your product are more likely to suggest and upsell add-ons and premium offerings of your brand.
Pull strategies focus on the end user and attempt to inspire them to seek out your product. Instead of incentivizing your channel members, you will incentivize your channel members’ customers.
Space Advertising – Advertise and market your product offerings through direct mail, exhibitions, and other marketing communications that create demand. Strategically and aesthetically pleasing campaigns that utilize the appropriate mediums are crucial for success in this arena.
Rebate Programs – Engage customers by offering limited-time cash rebates to consumers that purchase your product from your distribution channel members. The most cost-effective and timely way to distribute these consumer rebates is by issuing prepaid debit cards. These incentive and reward cards can be set up to be accepted wherever a major provider is accepted or redeemable at a sole retailer.
Web Page Advertising – Outline the value and benefits of products on websites to increase communication. Highlighting benefits, rather than features, and creating professional, functional designs requires marketing, graphics, and web design teams to be involved and instrumental in the process.
Motivating your distribution channel owners and salespeople is a delicate undertaking that requires the attention and experience of specialists in a variety of diverse industries. Outsourcing your program to a company with experts in travel planning, debit card distribution, marketing, web design, graphic design, and printing is one of the best investments you can make. Not only will you come out with a higher quality program, but it will be more cost effective and achieve greater return on investment.
Contact JNR today (http://www.jnrcorp.com/or call 800.343.4546) to learn about how our diverse team of experts can reinvigorate your channel incentive program.