When running a sales incentive program with a channel, dealer, broker, distribution, or trading partner, are you confident your incentives will influence behavior? Are they fun and engaging; do they hit the mark? Your sales incentives need to be personalized and resonate with your target audience to secure the sales growth and loyalty you’re targeting.
Keeping your brand front-of-mind for your partners is key to achieving your shared goals. Maybe it’s time to go the extra mile and gamify your sales incentive promotions and really engage and incentivize a winning partnership?
Whether you’re incentivizing the sale of shoes, insurance, cars, or software, here’s what you need to know.
What is an incentive?
An incentive is anything that motivates or encourages someone to do something. Many people have incentives in their personal and professional lives, and incentives can bring about significant change when approached in the right way. Businesses often use incentives to motivate their partners. In a world where partner revenue is becoming more critical to top-line growth, incentives often now play a more significant role in the broader business strategy.
What is gamification, and why use it?
Gamification utilizes the idea of an incentive to create gamified, interactive solutions for your channel, dealer, distribution, or trading partner. Gamification allows companies to develop gamified experiences to challenge, excite and motivate both internally and externally.
It plays on the basic psychology that drives humans to compete, improve, and win – and get rewarded for it. This works perfectly to encourage sales partners, who are predominantly target-led. By taking targets that sales partners need to meet and providing gamified incentives, motivation increases, as does performance.
Not all sales incentive programs are equal
Most traditional incentive programs are a little dull! They typically are not interactive and do not engage and excite the recipient. Depending on the outcome, gamification can lead to real prizes – but in all cases, gamification scratches the competitive itch that all salespeople have.
Everyones a customer
Your recipient has hit their target, played the game, won a voucher, and now their thoughts will turn to how and where they’ll spend it.
Just like any other customer, they want the freedom to choose their reward. So whatever you do, don’t second-guess what they want.
A great way to offer them that choice is through our channel incentives solution, Rewards. Winning recipients receive a unique digital code, which they can exchange for a gift card from hundreds of well-known brands available, so there’s something for everyone.
Is your sales incentive program memorable?
Your sales incentive program could be one of many trying to win over your B2B customers. Your rewards must resonate with your target audience. But if people don’t remember who’s behind them, you’re missing out on the ROI that you’ve earned.
You want people to connect the dots between what they’ve won and how they earned it. You want them to tell their colleagues about it; you want them to want to win more. This repeated success will encourage others to want the same.
There’s no better way to do this than having your own custom virtual currency. Using our platform, you can quickly create a virtual currency, assign a real-world value to it, and reward people. People can then choose to exchange these for vouchers whenever they wish. It’s a great way to stay front of mind and reinforce your brand identity.
Keep it simple, but make it quick
Once the winner has earned their reward, they want it quickly, so the redemption journey must be straightforward.
Whether you’re managing your channel incentives program in-house or through a third-party platform, speed and simplicity are key. By sending recipients a digital code they can swap for a gift card, you keep things quick and straightforward. Add in API integration, and it becomes even more seamless.
A long Term Relationship
When you offer the right rewards at the right time and in the right way, you’ve got the foundation for a successful, long-term, and profitable relationship with your channel, dealer, broker, distribution, or trading partner.