Dealers play a crucial role in your sales cycle. They serve as the middleman between you and your end users—the customers. Your sales will depend on how well your dealers are able to perform their jobs. For this reason, you need to keep your dealers motivated. One motivating factor for your sales channels is by giving them an incentive. According to a research by Channelinsight, incentive programs can boost sales through the channel. The survey found that an effective dealer incentive program can increase sales of a vendor’s product by up to 40%.
Furthermore, the Incentive Research Foundation revealed that sales channel incentive programs can increase revenue by up to 32%. Studies by the Aberdeen Group and Incentive Research Foundation reports that companies with non-cash rewards and recognition programs for their channel partners reported annual revenue increases averaging 9.6% compared to the 3% of other companies.
By putting in place dealer incentives, you can motivate your sales channel to promote your product. When you give them rewards like imprinted computer accessories will encourage them to sell your product. Here are the benefits you can derive from offering computer accessories with logo as dealer incentive:
INCREASED PRODUCT DISTRIBUTION
Your dealer will be competing against other dealers. Without an incentive, they will probably offer the cheapest unit just to get it done. However, if you motivate them with flashdrives with logo, they will push for the best quality product to your potential customers. Giving them imprinted flash drives will push them to sell your product.
INCREASE BRAND AWARENESS
When your dealers display imprinted mousepads in their store or kiosk, customers will see your brand. Keeping your dealers motivated through incentives, end users will get to know the mousepads with logo you are offering through the dealer. This will lead to greater awareness of your brand.
BOOST CUSTOMER LOYALTY
Once your dealer has successfully increased the distribution of computer mouse with logo and increased awareness of it, the next step in the chain is customer loyalty. Offering high quality imprinted computer mouse will give you more loyal customers. It will help you make an impression on end users.
DESIGNING AN EFFECTIVE INCENTIVE PROGRAM
In any company that has dealers, sales and incentives go hand in hand. As mentioned, your dealer is an integral part of your company. They make sure that the imprinted USB hubs you are selling will continue to thrive in the market. You need to give dealers the reason to keep pushing USB hubs with logo to customers. Here are the steps for designing an effective dealer incentive program:
Know the Legalities. In some states, giving out incentives like microfiber cloths with logo is a norm while in others such practice is prohibited. Make sure that giving incentives like imprinted microfiber cloths is legal in the state you are operating.
Check Your Margins. Before considering offering imprinted headphones, see if you have available budget. Never offer incentives that will not work for you. If you do not have the funds for headphones with logo, then look for other incentives you can offer.
Discuss with The Dealer. Before handing out speakers with logo as an incentive, you need to set things straight with the dealer so they know what to expect. Make it clear to them that they may not be receiving imprinted speakers the following year.
Incentive Should Be Measurable and Achievable. When giving out imprinted t-shirts make sure that it is understandable by both parties. The keep to successfully handing t-shirts with logo as an incentive is to keep it simple and straightforward for your dealer.
It Should Be Relevant To The Recipient. When handing out book lights with logo, you should make sure that it is appropriate to the recipient. If imprinted book lights will not be useful to the person you are giving it to, chances are they will overlook it.
Implementing a sales channel incentive program can help you set your business apart from your competitors. A motivated dealer can give you loyal customers as it can lead to lasting and positive sentiment and brand awareness. Rewarding your channel partners for being loyal and continued business will also increase product awareness which could lead to bigger market share and effective channel marketing and sales strategies.Dealer incentives need not be all about money all the time. Promotional products like imprinted crayons can also be effective as a motivational tool. When they receive crayons with logo, they will feel special and have an impression that you care for them.