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