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3 Mistakes to Avoid When Implementing Incentive Programs for Channel Partners
Marketing is a dangerous game.
It’s as unpredictable as an earthquake, and as convoluted as a Calculus exam—but nonetheless—a strategy no company survives without.
Especially when you consider what today’s marketplace presents businesses with: An overloaded saturation of “look at me content” people have become innate to ignore, and willing to dismiss. But even in the most treacherous of times, marketers hold their heads high, throwing anything and everything against the wall, and seeing what sticks.
But perhaps creativity, the greatest weapon a marketer has, is the very reason so many fail. In particular, marketers who practice within the B2B world; a very, very different place than marketers who participate within the B2C realm.
Perhaps implementing a methodical philosophy into B2B channel marketing is the key to a successful campaign, and the ingredient that which so many disregard.
Here are 3 of the biggest mistakes B2B marketers make when implementing incentive programs for channel partners.
Targeting the Wrong Target
Depending on the situation, the ‘demand chain’ can evolve into a multifaceted sales funnel where many players are actively involved. Because of this, business rapports develop an obscurity to them, resulting in incentive programs incentivized to the wrong target. Whether it’s the end-user, reseller or distributor, vendors commonly offer sexy rewards to the wrong demographic.
Making the Process More Confusing than Need Be
As if channel marketing wasn’t confusing enough, vendors often provide incentive programs with ambiguous guidelines and broadly worded, open to interpretation, terms and conditions—an unnecessary, and entirely avoidable issue many vendors fail to resolve.
Traditional Methods, Harmful Results
Excel spreadsheets, emails, phone calls and “chicken-scratched” transcripts have been the normality of managing marketing incentive programs for decades. And because of this dated managerial process, vendors have lost an unprecedented amount of profit and channel partners due to erroneously submitted claims, long rebate delays, inaccurate accrual calculations and misplaced channel data.
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