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Best Practices for a Successful Channel Incentive Program
Vendors depend on channel incentive programs to drive the performance of products and penetrate new markets. Therefore, it is fair to say that channel incentive best practices are the objective of every vendor.
Partners rely on incentives as essential towards margin growth and bottom line sustainability.
As so, vendors must build incentives on the idea they’re mutually profitable opportunities that lead to a wide range of opportunities.Implementation of incentives, however, is not easy. Vendors must execute programs that go beyond traditional expectations such as attainable goals, eradicating channel conflict, commission overrides, big deal discounts, etc.
When designing your next channel incentive program, think about the following characteristics that make an incentive successful/unsuccessful and are considered channel incentive best practices.