Channel partners are often a critical sales channel for businesses across industries. Keeping them motivated and nurtured is essential to ensure long-term association with them. For this, companies rely on channel partner incentive programs. Despite putting together a rewards program, businesses find fading interest in partners. This is mostly because the incentives usually remain unchanged….
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Tips To Improve Sales Through Channel Partners
Companies could have the best of offerings and an amazing sales team, but that will all hit a productivity limit because there are only so many hours in a day. While expanding the current sales team may seem logical, it can be expensive and takes up a lot of time. However, companies have another alternative…
Channel Partner Program: Enhancing Business Growth Through Incentives
For businesses to grow, they must expand their reach into newer markets and build a wide network of sales operations. This may be an expensive undertaking for SMEs. For this reason, most businesses rely on channel partner programs. These partners can be distributors, resellers, brokers, or agents who promote your business offerings and drive revenue….
Maximizing Channel Partner Performance: 12 Critical KPIs To Measure
In the current economy, partnerships are essential for businesses to ensure profitability. Quite a few companies depend on channel partner networks to achieve success through expansive market reach and unparalleled marketing. However, setting up a channel partner program is just one part of the strategy. You must ensure that your partners are driving growth and…
Innovative Employee Recognition Ideas For The Modern Workplace
Rewards and recognition are the most underrated programs that companies use to improve employee motivation. Even the companies that organize events to reward top-performing employees follow such a templatized and impersonal format that it fails to bring desired results. Companies need to understand that the rewards and recognition program is not just about awards, but…
Leveraging Employee Rewards for Employee Appraisal
Recognition has emerged as the top driver of ‘great work’ with 37% of employees voting for it in a survey by Great Place to Work. And one way a company recognises their employees is through appraisals. Appraisals are probably the most important professional event for employees. It typically signifies the day that their efforts will…
Transforming Channel Loyalty Programs With Data-Driven Insights
Channel loyalty programs are essential for businesses to accelerate sales and drive profitability from their sales partners. Having said that, companies must implement these loyalty programs without bias or confusion. Businesses must rely on performance metrics and revenue details before deciding on whether or not to reward a particular partner. Although most businesses sit on…
Beyond Bonuses: Creative Incentives To Boost Employee Morale
Employee rewards programs have the potential to transform your workplace into a hub of positivity and productivity. But for that to happen, you must overhaul a few things including employee performance bonuses. Instead of going for a one-time lump sum payout, you can implement multiple reward options. It is primarily because, like salaries, bonus amounts…
Channel Partner Incentives: The Secret Sauce For Sustainable Business Growth
For businesses to thrive and grow sustainably, they must build strong partnerships and collaborations, particularly with channel partners. A recent Forrester study disclosed that over 73% of global trade flows through channel partners. These stats further affirm the crucial role that channel partnerships play in enhancing business sales and revenues. Since these partnerships run on…
