Channel incentive programs are an important part of big companies who sell their products on large scale through more than one channel like distributors, retailers, direct marketers and resellers. Well implemented programs rise profits for both, the company and channel, leads to products moving at a swift rate and contribute in upholding a competitive edge by keeping products and brands on top of mind. With the advent of technology and internet, things are getting awfully easier to manage and maintain. You can easily find software for managing your channel incentive programs, which will lessen your burden automatically.
Of all the reasons that motivate your channels most for selling of the products and services, financial benefits and compensation tops the list. Thus, when any company employs marketing channels, motivation must be a straightforward matter. Channel incentive programs ought to be more thoughtful, than simply running Sale performance incentive fund (spiff) for sales that your channels may or may not have completed anyway. These programs must be about how you assist your channel partner to be more efficacious in their association with your organization.
But with so many important stuffs already on your hand, it could prove to be a difficult task to manage your channel incentive programs very effectively. You can buy software for channel incentive programs management. We operate in a highly competitive environment. You cannot put just any type of channel incentive program on the table and hope for it to work. Prudently made partner programs, inducements, actions and mindshare-building happenings can make available important competitive variation.
The software helps you in several ways. You can enhance the opportunity administration, sales credit assignment, and sales efficacy by spontaneously linking POS data to opportunities and accounts. The software can provide you with instant visibility to any activity in channel sales and also helps you keep taps on inventory in Sales force. The software helps in tracing of crucial opportunities, enhancing the whole process of sales commission and linking any Pos transactions to articular prospects. The rebates are also handled and calculated automatically, thus there is less chances of any error and dispute amongst your channel partners. You can track the performance of your channel partner and discover your weak links, if any. This will help to create awareness and consciousness among your partners and also enhance your sales and profit.
Further, since the channel partners will be paid accurately and on time, because of the software, there will be a higher level of satisfaction amid them. Your partners can also track their status, the points earned by them, their sales performance and much more by simply accessing the software. This will motivate them to work harder and you can have better control over them. Any software for channel incentive program must be bi-directional, i.e. motivating and providing partners with required incentives, while helping the companies to reach their goals. The software must also be flexible and built according to the needs of the company, as one size doesn’t fit all.