In a new article featured in Manufacturing.net, Jeff Cagle (Director of Global Accounts at Incentive Solutions and Extu) shares insights on how channel incentive programs can help B2B brands build incremental revenue and customer loyalty. By using best practices, manufacturers can develop a “low-cost, high return” incentive strategy that benefits the brand, even in times of economic stress. Some of these recommendations include:
- Engage channel partners with meaningful, non-cash rewards such as debit cards, gift cards, and group incentive travel.
- Implement an incentive program with a sales claims upload tool that’s easy for channel partners to use, giving you more access to useful customer data.
- Use an incentive program to deliver multimedia training content and reward partners for participating.
- Integrate your incentive program with other channel software so you can develop better, data-based understanding of channel partners and customers.
As Cagle says,
Incentive programs help you build better channel partner relationships, while giving you the visibility downstream that helps you make better sales and marketing decisions.
For more insights on using channel incentive programs to protect your brand against economic downturn, read the full article on Manufacturing.net.