Diversifying Your Incentives Strategy

Posted by Kellie Auman on Sep 19, 2017 2:05:00 PM

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.

Topics: sales partner incentives, channel incentives, developing incentives

How To Drive Sales Through Incentives

Posted by Kellie Auman on Aug 31, 2017 9:15:00 AM

Your company has just launched a new product. It is anticipated to be a huge part of your business. As the company’s sales director you are responsible for partner sales and have recruited and on-boarded the right channel partners. Now that your channel partners are thoroughly prepped, armed with new product information and ready to sell – you need a reason for them to sell more, sell often and meet/exceed quota.

Developing incentives will prime your channel partners to drive sales so that your product (and your company) will be leaders in the market space. It is important to understand that the underlying rationale of incentivizing channel partners is to motivate them to sell more. Incentives can take several forms such as:

  • Additional discounts off the sales price of the deal
  • Product rebates
  • Market development funds

Topics: Scale Your Channel, channel partner engagement, driving sales, developing incentives

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