The Key to Better Channel Incentive Program Buy-in
The importance of having clear program goals and objectives is generally understood. Many well-conceived channel programs fail as a result of errors made during program preparation or execution. Two whitepapers we published last year spoke to this idea: The first helps to plan your program to best meet your strategic needs and the second provides insights into how to evaluate your program.
Sandwiched in the middle between planning and evaluation is design. The successful deployment of a well-designed channel program relies heavily on maximizing participation and audience engagement, both of which help you overcome common pitfalls that prevent programs from reaching their full potential.
When designing a channel incentive program, the intent should be to raise the level of performance across your entire partner, reseller, distributor or clinic ecosystem — not merely to engage the current top performers who are already strong advocates of your offerings. It is important to attract program participation on a broader scale in addition to maintaining ongoing engagement.
Channel incentive programs often suffer from low levels of participation for a variety of reasons, particularly SPIF programs that target sales staff and other employees. Depending on your industry and program structure, it is not uncommon to experience a limited participation of 60–70% of the eligible population and, in many cases, much lower.
Our most recent whitepaper fits nicely between program planning and evaluation with best practices on program deployment and user onboarding. The insights gained by applying these best practices can help evolve your program design, and engage your audience.