Maritz research reveals what incentive qualifiers really want
In today’s competitive landscape, channel partners are inundated with incentive programs. To capture their attention and drive sales, your program needs to stand out. New research from Maritz, a performance improvement company, provides a roadmap for incentive planners to maximize engagement and ROI.
Key Takeaways
Flexibility is king: Channel partners crave choice and flexibility in their rewards. Reward currency, points, travel options, and gift cards/certificates top the list of preferred incentives.
One size does not fit all: Partners value rewards tailored to their individual needs and preferences. Offering a diverse catalog of options ensures there’s something for everyone.
Motivation matters: A staggering 91% of channel partners say incentives significantly influence their sales motivation.
Clarity is crucial: Complex programs with opaque earning rules are a turn-off. 39% of partners have abandoned programs due to difficulty in understanding reward structures.
The Top Rewards: Maritz surveyed hundreds of channel partners to determine their most desired incentives. Here’s how the rewards stacked up:
Award preference on a scale of 1 to 5 with 5 being most desirable:
4.2 Group travel
4.2 Individual travel
4.2 Reward currency or points
4.2 Gift cards/certificates
4.1 Discounts on company products/services
4.1 Choice from catalog or website
4.1 Rebates
4.1. Entertainment Tickets
4.1. Market development funds (MDF)
4.0. Certifications or credentials
4.0. Badges or online designations
4.0. Placement on a special board or task force
4.0. Branded company items
4.0. Cooperative advertising
3.9. Charitable donations
Further Reading: The Top 4 Reasons Incentive Programs Flop
The Bottom Line
Incentive programs that prioritize flexibility, choice, and clear earning structures are most likely to resonate with channel partners. By understanding partner preferences and offering a diverse range of rewards, companies can boost engagement, drive sales, and foster long-term loyalty.
Any thoughts, opinions, or news? Please share them with me at vince@meetingsevents.com.
Photo by Hartono Creative Studio For Unsplash+
