3 ways to amp up your sales channels incentives

6 June 2024

Here’s a universal truth: everyone needs motivation—whether it’s the newbie on your team or the veteran who has been with your organization for a while now. In fact, motivation can manifest in how engaged your teams are and can be reflective of the business’ health. A recent study has shown that highly engaged teams increase business profitability by 21%.

It’s just as important to extend your engagement strategy beyond your employees. Don’t forget to add your sales channels into your motivation mix too. If your organization is one that works with dealers, distributors, agents, or resellers, this is for you.

Read on to know more about some ways you can level up your sales channel incentive schemes.

Have a tiered performance structure in place

Don’t just look at mere sales targets to incentivize your sales channels. Ensure that you have a set of diverse criteria that you can mix and match at specific intervals to keep things fresh. It could be anything from net promoter scores, quality of post-sales support given, number of meetings set, or even creative executions of market penetration strategies.

This incentivization scheme works for US-based travel agent company Rocketrip, where they give additional bonuses to agents who book the most meetings in a week.

Whatever floats your boat, just make sure that your tiered criteria are properly communicated. While you’re at it, make incentivization more exciting with gamification.

Train and accredit periodically

With industry trends shifting at hyper-speed, it’s important to stay in the loop if you don’t want your organization to be left behind. Make sure your partners’ skillsets are updated too. Enhance their knowledge, skills, and confidence with education on your industry’s best practices and your products or services.

This also encourages your channel partners to share their ideas and offer feedback. In effect, you get them more involved in the process and keep them engaged. Not to mention, partner accreditation also adds an air of legitimacy and invaluable expertise for your customers.

Renowned cloud-based software company Salesforce makes use of this strategy with their Trailhead program, where they help boost their partners’ confidence in making a sale through specialized training.

Be proactive with your reward and recognition practices

Don’t wait for your business to hit a slump to put rewards and recognition in the picture for your partners. Implement it in your strategy now to inspire healthy competition among your dealers, distributors, agents, or resellers.

While this requires more creativity and personalization on your part, your efforts are not wasted as it boosts motivation while fostering collaborative sales channels. Non-monetary incentives that enable joy are your best bet.

Here at Pluxee, we helped a pharmaceutical brand launch a campaign to increase the productivity of their partner dealers. The result? Incentivization through vouchers helped them achieve 100% of their sales targets for that period.

Pro-tip: Hassle-free incentivization with digital rewards

We know how challenging it can be to simplify your benefits management, especially when you’re dealing with sales channel partners nationwide. Logistical hassles, consideration of type of rewards for partners with different preferences and lifestyles—the list is endless!

Don’t worry, we’ve got your back! Let us help you create meaningful connections with your partners and boost productivity with digitally powered rewards.