If we talk about partner channel mindshare a lot in this blog, it’s because it’s critically important and yet a factor many vendors overlook -or underestimate- to their own detriment. Aside from situations where you have locked-in dedicated partners, it’s vital for a vendor to always remember that there will be competition for the time and attention of partner-level sales staff. The vendors who come out on top are usually going to be those who find the best ways to incentivize their partners.
One of the most common ways to do this is the ever-popular Sales Performance Incentive Fund, or SPIF. Or, just plain “bonuses.” Set sales targets, and pay out a SPIF to whatever partner or salesperson who performs the best. It’s simple, it’s direct, and it’s effective… but other options exist. It's key to diversify your sales incentives strategies rather than relying on SPIFs alone.