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The Latest Incentive Industry Resources & News

Wednesday, November 9, 2016

B2B Channel Incentives and Distributor Promotions

Published by: Online Rewards Channel Incentives

Channel incentives and distributor or dealer promotions help create meaningful partnerships that increase loyalty and sales in the business-to-business (B2B) space based on purchase volumes and value.

Dealer promotions and distributor incentives are designed to inform, persuade, or remind your channel partners of your brand messaging and benefits.

Announcements

In one case study, a B2B channel incentive program helped an organization increase revenue by more than 32% (as well as many other great results).

A well-constructed B2B loyalty program for distributors and channel partners will help you:

  • Clearly communicate your brand
  • Launch new products
  • Increase sales of existing products
  • Direct sales efforts to specific products or brands
  • Expand your distribution network
  • Stay top-of-mind with your market between sales opportunities
  • Increase revenue and market share
What's in it for your distributor or channel partners?
  • Better trained sales force (on your brand's features and benefits)
  • Increased sales earn incentive rewards
  • Highly engaged sales representatives
Beware of unintended consequences

In some cases, distributors may be reluctant to take advantage of sales promotions based on volume purchases because they have no plan to move the excess inventory. An incentive professional can help the B2B partner structure a custom channel incentive program that helps the distributor sell the inventory through to their customers (pull-through incentive).

As with any partner incentive program, it’s important to start with clear objectives, then gear the program to that particular channel partner audience. By contracting with an incentive company that specializes in B2B marketing, you’ll be able to customize everything from the rule structure to reward options.

Monday, October 31, 2016

5 Scary Employee Recognition Mistakes

And How to Avoid Them

Pumpkin

Creating an employee recognition program can have a really big impact on your company. If done well, engagement scores will rise, and you will see a positive impact on productivity and your bottom line. However, if executed poorly, the mistakes can be downright scary! In the spirit of halloween, here are a few of the scary mistakes to avoid when creating a modern employee recognition program.

  1. Rewarding for Presence, & Not Performance.
    Your program needs to have the logic required to recognize employees for positive performance, and not just showing up.
     
  2. Poor Strategy
    Employee recognition is all about strategy, which informs the technology execution. If you don’t take the required time to develop a concrete plan upfront, your program will fail.
     
  3. Disjointed Programs
    If your organization is trying to increase employee engagement, but with multiple, disjointed programs that don’t connect and communicate —  the results will be messy and terrifying.
     
  4. Trying to Do it All By Yourself
    One of the most important steps in this process is making sure to select the best strategic partners. Whether internal or external, your stakeholders need to have a firm grasp on employee recognition strategy.
     
  5. Taking a “One-Size-Fits-All” Approach
    Every company is different. Thus, each employee recognition program should reflect this. Your employee recognition program should be as unique as your business.

Employee recognition can be scary if not done correctly. Finding an experienced partner can make it a little less frightening! See our employee recognition page for more.

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