As with internal sales teams, keeping channel partners engaged requires meaningful and creative incentives. Channel partner management consultant Impartner emphasizes that channel partners have choices and will align with those partners that create the best experiences.
This case study from incentive program designer Next Level Performance shows how one company successfully drove incremental sales through channel partners with a self-funding incentive travel program.
An electrical products distributor that offers top channel partners a group travel program wanted to create an opportunity to connect with their mid-tier partners. Their goal was to drive sales and reward these partners for their incremental success along the way with a multi-tier payout structure.
Their goal was to increase sales across the board and prove the program to be self-funding. With the expenditure calculation factored into the total sales growth of over $10 million for this initiative, the program delivered an 8:1 ROI.
Next Level Performance, which creates custom incentive programs, delivered a loyalty platform that combined highly desirable awards for valued customers with controlled budget spends and purchases from valued customers with larger budget spends. By structuring an inclusive and attainable loyalty program to reward purchases, the client was able to create an integrated approach to ensure all stakeholders were engaged through tiered and targeted motivation strategies.
The goal was $180 million in sales growth. The client realized a 23% increase over projections. The incremental growth was the main focus of the client’s program success measurement.
Next Level (formerly Dittman Incentive Marketing) has helped client companies improve their performance for more than four decades through incentive and recognition programs. Learn more at nxlperformance.com.