Channel Incentives Solutions: Improving the Partner Experience
Powered by the latest cloud, social, mobile, and data science technologies, Perks’ Enterprise Engagement Engine℠(E3) gives suppliers more flexibility and capabilities to accelerate growth. The result is a better partner experience and increased loyalty.
Channel incentives programs that enable companies to transform themselves and engage with their partners in entirely new ways.
Perks | Channel empowers leading global enterprises channel sales and channel marketing management programs they need to produce a competitive advantage through their indirect sales channels. Our solution encompasses the three most critical areas to optimize indirect channel marketing and channel sales performance: marketing enablement, channel incentives management, and global managed services. We provide these services to some of the most influential companies in the world, all backed and supported by years of expertise and our E3 technology.
More than software alone, creating best-in-class channel incentive and loyalty programs requires an orchestration of the right strategy and program design to achieve your go-to-market objectives, as well as the right infrastructure and processes to streamline program administration.
E3 technology is your competitive advantage.
E3 is a powerful channel incentives platform that provides a consistent, modern user experience across any device.
E3 comprises multiple incentive modules - Planner, MDF, Co-Op, Marketplace, Deal Registration, Rebates, and Rewards - seamlessly bound to address customers’ needs, in a way that individual components cannot deliver on their own.
E3 delivers a partner experience that is actionable, interactive, and gamified - through dashboards, progress bars, social media, and analytics - always letting participants know, where they stand on their journey.
Collaborate with partners by setting goals, objectives and expectations. Forecast business performance. Gain an advantage in the channel by aligning your business interests with those of your partners.
Increase partner engagement and loyalty while improving visibility into your sales pipeline by incenting your partners for deal registration submission into SFDC. CAM’s may view all deal registration submissions and manage approvals from their mobile devices.
Deploy, track and measure MDF/Co-Op performance in real-time. Fine tune MDF and Co-Ops to meet your needs and those of your partners. Give your partners the means to increase your company’s reach in the channel.
Enjoy the convenience of pre-approved / pre-packaged marketing activities through an integrated storefront. Email, direct mail, collateral, events, search engine optimization and more are instantly available. All activities funded by MDF and Co-Op are supported.
Send payments to partners globally and in a partner's own currency. Payments are secure and bank accounts are verified before processing. Details of payments are provided in the partner benefit statement.
Distribute funds in real time. Give partners access to their funds when they are ready to invest in marketing activities. Monitor partner-led marketing performance and adjust how funds are distributed across marketing campaigns.
Reward individuals and teams with an assortment of experiences, travel, merchandise and gift cards via a lifestyle rewards catalog that is mobile, social and personalized to each user’s role and partner’s tier.
Design, manage and monitor POS-based and claim-based rebates. Track all accepted agreements, promotional periods and earnings. Keep partners informed about their standing against goals through interactive dashboards and a monthly account statement delivered via e-mail.
Our technology is your competitive advantage.
E3 technology comprises multiple channel incentive modules on a single portal, including a Partner Scorecard, Marketing Planner, MDF, Co-Op, Marketplace, Deal Registration, Rebates, and Rewards, seamlessly bound to addresses our customers' needs in a way individual components cannot deliver on their own.
How Perks ensures suppliers improve partner performance
Perks has turned years of analysis into an evaluation and design process that we call “The Science of Motivation™”. This process gathers historical data to establish current-state benchmarks, together with predictive analytics to establish future-state benchmarks, in order to define the elements of engagement that best serve the needs of suppliers, and thus the partners who represent them.
This analysis drives the development of a strategic lifecycle roadmap and program design, to increase strategic engagement and bolster channel loyalty.
A perfect example of how our methodology can positively impact your channel ecosystem can be found on our approach to the number one issue impacting suppliers and partners today. The misalignment of the partners’ sales process to the digitally connected buyer’s journey.
Our Methodology in Action: How Perks Ensures Suppliers Improve Partner Performance
Understanding your end-customer buyer’s journey and teaching partners how to engage buyers by aligning their sales cycle to the buyer's journey is vital to the success of your partner in this digitally-connected end-customer environment. Engaging throughout the end- customer’s buying cycle requires a completely different mindset, as buyers now expect B2B suppliers and their partners to be at the right (digital or physical) place, at the right time.
The Buyer's Journey
Today’s buyers control their journey through the buying cycle much more than today’s suppliers and partners control the selling cycle. The internet is providing buyers with enough information to drive them 75% of the way through their journey before their first contact with a supplier or partner. Digitally connected buyers are driving a whole range of behavioral changes between suppliers, partners, and end-customers; especially when dealing with how end-customers obtain information and purchase products.
The Partner's Journey
However, the partner’s sales cycle remains the same, an activity based process designed over 10 years ago. This sales process is still designed around activities independent from the buyer’s position in the buying process. It is critical for suppliers to educate partners how to connect with each buyer at each phase of their journey. This is where behavioral incentives make a big difference in helping partners modify their behavior towards proven methodologies designed around the buyer’s journey.
Aligning the Journeys
By comparing both journey’s it becomes obvious that there is no alignment between the buyer’s journey and the partner’s sales process. Understanding where buyers are in their journey empowers partners to serve up the content the buyer is looking for to deliver value at the beginning of their journey. Aligning these two paths through an incentive framework that influences the partner’s behavior at each stage of the buyer’s journey is vital to achieve partner performance improvement.
Define Behaviors that Need to be Reinforced
Aligning the two journeys through an incentive framework starts by understanding the three distinct buyer’s scenarios, and mapping the buyer’s phases and stages to observable outcomes. You then segment the partners’ sales cycle into three phases: Enablement, Pre-Sales and Post-Sales and provide the assets and activities to interest the buyer. Mapping the three key phases of the partner sales cycle to behaviors, activities and skills empowers you to modify the partners’ behaviors through incentives.
Align Behavioral Incentives to Partner's Sales-Cycle
Once you’ve defined those behaviors and activities, you must segment your audience into two groups, for real effective behavior modification: company level behaviors and activities, and individual level behaviors and skills. These segments provide the foundation for the framework and program design, so it’s important that you consider clear objectives and KPI’s associated with these specific behaviors, as all of these should be measurable.
Pairing Company and Individual Behaviors With the Right Incentives
When you are done with tagging company level behaviors and individual level behaviors, we can then overlay the way in which you want to influence those behaviors by applying the right type of incentive program. For individual level incentives, you may want to apply a points based rewards program or spiff. For company level behaviors, MDF, Co-Op, or Rebates may be more appropriate. Pairing company and individual behaviors with the right incentives is key for effectiveness and impact.
Applying the Right Incentive Value
And finally apply the benchmark incentive rate – as a percentage of revenue or fixed relevant amount– to be paid for each activity, behavior, or skill needed to align the partner’s sales cycle to the digitally connected buyer.
Improving performance in the channel begins with understanding the journeys of the modern partner and buyer.
Today's buyers are 75% of the way through the journey before they reach out to the vendor.
60% of vendors say ease of doing business is their number one partnering priority.
42% of today's manufacturers use more than 50 different channel partners.
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