Incentive Program Business Incentive programs

Obviously, vendors want to earn revenue through channel partners, so that’s the primary goal. But when it comes to channel recruitment, role definition requires more. First of all, resellers need to understand   which geographic, horizontal, vertical, and product markets to target.  Next, successful candidates must have certain skills, specialist knowledge, and other qualities. And finally, the vendor needs to know what kind of incentives and rewards will “entice” applicants.  More specifically, vendors can look for the “six C’s of channel recruitment”:

1. Coverage- vendors need to know which markets the reseller is operating in, which audiences they target, and how much market share they have.
2. Capability- know the sizes and skills of the sales force, what marketing techniques are used, and the strength of after sales support.
3.  Capacity- understand partner’s capacity for growth in terms of infrastructure, location, size of customer base, and amount of inventory they can manage.
4. Commitment- assess partner’s current commitments by checking their level of investment into the relationship, and how much effort the vendor has to make.
5. Credit – a viable channel partner must simply be credit worthy.
6. Contribution – sometimes sales revenue is the only criteria used by vendors.

Hence, with the appropriate quantitative and qualitative recruitment tools, vendors can find successful resellers who will be good channel partners.

Motivating employees or sales force is one of the most difficult challenges for a manager.

The incentive industry will want you to believe that a properly constructed, communicated and monitored tangible incentive program will yield greater end results than cash; and as a consequence, justify the added cost associated with just throwing cash at the recipients.

Goodyear Tire and Rubber sought to test what improved sales. The results are music to the employee motivation and recognition industry’s ears!

With tangible rewards (incentive travel, incentive merchandise, employee rewards), ROI was 46% greater than the cash only incentive. In addition, the tangible incentives cash flow proved to be beneficiary.

Business incentive executives maintain that money does not have the emotional “pull” of incentive merchandise or exotic incentive travel.

  Be Impeccable with Your Word                                                                                                              This one is so important that it’s listed first. It’s basically about not gossiping, which is a waste of time and energy.  It also suggests that we “say what we mean” and “mean what we say, “in other words “practice what we preach.”

Don’t Take Anything Personally                                                                                                              The reasoning behind this advice is the fact that we often get caught up in other people’s moods, even though they usually have nothing to do with us.  This can be a counter-productive drain on our energy.

Don’t Make Assumptions                                                                                                                          This is where it’s important to ask questions. We’ve all heard that “the only stupid question is the one not asked.” Having a thorough understanding of the procedures is more important than being afraid to ask about them, and will actually be more empowering.

Always Do Your Best                                                                                                                                   This simply means that we’re all human, and for various reasons we’re not aways going to be 100% as productive as we’d like, perhaps because we’re tired or don’t feel well.  At these times we just keep trying. Also, and in conclusion, if we follow the above guidelines, we’ll probably feel better and will thus be more motivated and productive!

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