October 22, 2019 by Jeff Edwards
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%.
Objectives Identified
The IRF lists the following top business objectives for channel
rewards and incentive programs among US organizations over $1 million in revenue
(2019 data):
- Product or brand awareness (71%)
- Sales and market share (67%)
- Customer loyalty and satisfaction (55%)
Measuring Success
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.
March 27, 2019 by Jeff Edwards
A common topic in our industry centers around the benefits of differing reward types and their effectiveness to motivate when used in incentive and recognition programs. With much discussion and debate, many have offered theories and best practice formulas to substantiate their positions. Today we are fortunate to have more resources than ever which focus… Read more »
May 31, 2018 by Jeff Edwards
If you’re old enough to remember the 1980’s television series The A-Team, you probably recall Hannibal, Faceman, B.A., and Murdock always escaping the tight spots they found themselves in. On the run for crimes they didn’t commit, they survived by hiring themselves out in the defense of average folks fighting some form of local oppression… Read more »
July 28, 2017 by Rob Miklas
Today I once again direct your attention to the very useful Marketing Profs newsletter, where a recent entry by Laura Forer entitled The Indispensable Welcome Email [Infographic] caught my eye. This well-constructed infographic highlights the value and impact of effective communications, especially at the start of the business relationship. Regular readers of this blog will… Read more »
January 18, 2017 by Mike Sullivan
Our web-based incentive points platform features many modules designed to enhance the participant experience. Our clients use these to ensure participant engagement and maximize the benefit of their sales incentive or employee recognition programs. Whether it is the utilization of graphic goal trackers for a sales incentive program or the utilization of badges for “shout-outs”… Read more »
September 8, 2016 by Jeff Edwards
Small businesses are experiencing high levels of success utilizing incentive programs that feature merchandise rewards, according to a recent IMRA (Incentive Manufacturers and Representatives Alliance) survey/study. The survey was conducted in partnership with the IRF (Incentive Research Foundation) and focused on companies with between $1 million and $50 million in annual sales. IMRA found that… Read more »
