A dealer incentive program has great potential to influence the behaviors of your B2B customers. The best way to make sure the program positively effects your bottom line is to get everything right from the get-go. If you don’t, you could end up wasting time and effort on a program that was doomed to fail from the start. Here are the five steps we recommend for a dealer incentive program that works:
1. Explain the program clearly.
Set solid parameters and explain them clearly. Don’t overcomplicate things. If dealers are confused by your program’s purpose and rules, they won’t bother enrolling.
2. Communicate a clear value proposition.
An effective dealer incentive program changes your dealers’ routines. Change is no easy thing to set in motion, so you have to be clear about your program’s value proposition. They should understand and get excited about what’s in it for them.
3. Show VIP buy-in.
A manager or executive should visibly show their support the program. This adds legitimacy to the program and instills a stronger brand awareness and relevance to overall sales channel goals.
4. Promote your brand values.
A Google/CEB study found that B2B buyers favor brands that demonstrate personal value through emotional appeals. Dealers want to work with brands whose values align with their own. Incentive programs are great “actions, not words” marketing tools. Do you truly support the training and ongoing education of your dealer salespeople, for example? Then offer them rewards for completing a series of training videos.
5. Launch a killer kick-off.
If someone tells you, “You earned a reward!”, What would you feel? Probably excitement and pride, right? Dealer rewards are fun and exciting, so capitalize on those positive emotions! Hold a raffle, a launch party, a contest, or offer the chance to win a big reward if they enroll by a certain deadline.