Channel partners play an important role in marketing and
selling manufacturer’s or producer’s products, services, and technologies. In an increasingly competitive marketplace, a
channel partner reward program can be effective by focusing on behaviors that
drive bottom-line success.
A recent study conducted by the Incentive Federation concluded
that 43% of all businesses use non-cash channel reward programs. The
Incentive Research Foundation (IRF) has also shown through case studies
that non-cash channel programs can increase total revenues by as much as 32%
and market share by 30%.
The IRF lists the following top business objectives for channel
rewards and incentive programs among US organizations over $1 million in revenue
- Product or brand awareness (71%)
- Sales and market share (67%)
- Customer loyalty and satisfaction (55%)
According to the IRF’s channel partner Toolbox, channel
rewards and incentive programs provide both tangible (increased revenue, new
customers, increased market share), as well as intangible (culture,
collaboration, teamwork) benefits.
The IRF’s channel partner toolbox offers real-world information about the effectiveness and value of incentive, reward and recognition programs. We’ve been designing and managing these programs for decades, and we are glad to assist with any need you may have.
Several weeks ago, we began emphasizing a set of “exclamations” – behaviors that we want to be known for among each other and our clients. A different behavior is highlighted each week, and we begin again at the top when the entire list is addressed. So, we’re always reinforcing – exclaiming – a desired behavior… Read more »
We’ve always heard that’s it’s best to “over-promise and under-deliver” – no wait … that’s “under-promise and over-deliver.” In our world of seemingly endless responsibilities and with them, high expectations to succeed, it’s easy to lose sight of a very important concept that will keep us focused and on track. It’s our Exclamation of the… Read more »
The California Consumer Privacy Act (“CCPA”) will go into effect on January 1, 2020. Does that mean anything to anyone reading this blog? This law was created to protect the personal information of California consumers from being sold by the companies that have access to this information, and its implications are discussed in this Forbes.com… Read more »
A new week has begun, and with it comes another opportunity to emphasize QIC’s exclamation of the week: Find a Way. While perhaps a bit clichéd, the term still holds valuable meaning – describing our desire to see associates (individually and collectively) take initiative to consistently prevail over challenges and obstacles on behalf of our… Read more »
Culture – I hear this word all the time. I hear it from my boss. I hear it from our prospective clients. I hear it from our current clients. I even hear it from my friends in casual conversations. My point is, in the current professional landscape, this word gets thrown around a lot. What… Read more »