Managing channel incentives requires a comprehensive program
Managing a successful channel partner program to maximize profits and reward performers requires not only incentives, but training, communication and lead organization.
Any profitable channel incentive program will incorporate training and education for a vendor's partners, according to EzineMark.com. The relationship a customer has with channel partners reflects on the vendor itself, and a knowledgeable sales staff projects a successful impression.
Partners also need the ability to forecast consumer trends and market changes. Providing partners with the necessary information will increase revenues.
Additionally, organizing leads and preventing redundancy between partners helps avoid problems and assures that time is maximized.
Finally, marketing should not be left solely to partners, and asking them to produce reports and data can often take away time better used in sales and service. A profitable vendor will allow partners to benefit from organizational marketing campaigns and assist them with data collection.
Implementing a successful incentive program not only motivates partners, but also provides a standard for recruitment and adding talent. A professionally managed incentive program typically incorporates training, education and lead management with a reward system that encourages growth.