Today I want to focus on the fourth step, incentives. How does your business perpetuate habitual behavior from your partners? That is the key question here. Incentives should be about driving partner behavior that, potentially, wouldn’t happen organically.
You want your partners to be engaging with their customers in a way that has a positive impact on your revenue and promotional products. At Spur, we have a very specific way at looking at incentives.
We’ve created a model for incentivizing partner behavior that works here at Spur and is based on our company’s goals and values. When looking at incentives we measure contribution, capacity, coverage, commitment, and consumption.
These five incentives types are the most relevant to channel managers:
If you’re a channel manager, you need to decide what behaviors you want to change and incentive. This is all going to vary and differ on an individual basis for many cases, for both partners and customers.
Figuring out what behavior a partner needs to change will help you decide what type of incentive you need to have in place to make the biggest impact and drive revenues. Partner incentives really come down to aligning the right incentives to the right behaviors. This will generate the most success and have the greatest impact on your channel.
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Richard Flynn is a recognized leader in channels and go-to-market business strategy and execution. A Founding Partner and Chief Marketing Officer for The Spur Group, Richard has over 25 years of go-to-market experience in sales transformation, channel management, and customer marketing.