sales channels

Grow your sales channels with incentives insights

  • June 01, 2016

Sales channels generally grow in an organic manner, with revenue and profit dictating the ways in which manufacturers expand their operations and introduce new products. But what if there was a better, more intelligent way to grow channels – one informed by real data and optimized in real time?

Brands that analyze and leverage incentive program data through a digital platform can achieve exactly that, and grow their channels with greater confidence thanks to tangible, actionable insights.

Most of all, incentive program solutions can provide a fresh perspective on sales channels that is much needed. Let’s check out a few ways in which incentive program data assists in smarter channel growth.

1. Pinpointing products (and partners): Retail sales numbers often have clear patterns, whether seasonal, based on demographic or other factors. These trends have the power to inform brands about the marketplace and let them strategize more effectively when it comes to growing sales channels. Individual product sales is one of the most important things to measure.

“A fresh perspective on channel management is much-needed.”

Collecting incentive data takes this analysis to a whole new level, giving brands insight into how incentive programs impact sales trends and the success of individual products. With this knowledge, they can better structure their incentives in accordance with these factors and grow their channels with far greater confidence – and better results.

2. Strategically training RSAs: Some channels lag behind others for no discernable reason, but by analyzing incentive data more closely, brands will see that these problems often stem from a lack of training and knowledge – not a shortage of incentive or interest. According to an article from Twice, training is one of the most important yet overlooked aspects of channel engagement.

Therefore, brands that want to optimize their sales channel growth will pay close attention to the training programs they choose to leverage. With a better understanding of what training solutions deliver results and when they should be incorporated, a brand will be able to invest in these programs more strategically, further sparking growth in sales channels.

3. Expanding into new regions: Location is key in any retail venture, and sales channel growth hinges largely on where a brand chooses to focus its expansion efforts. Traditionally, companies struggle to pinpoint the differences and similarities between regional partnership results, leaving them at a loss when it comes time to expand the boundaries of the business.

Now, organizations with centralized incentive solutions can see exactly where their partners are successfully selling particular products and services, allowing them to expand in a much more informed manner. No more guesswork – just data-driven results.

4. Refining incentive structures: Not all incentive programs are going to maximize sales channel growth, and it’s up to brands to determine which structures work better than others. Only with a centralized platform for incentive program management and analysis can an organization clearly see which programs are making a positive impact and which are holding the brand back.

With incentive insights on hand, companies will see just how powerful this data can be when it comes to expanding their sales channels.

Join the Discussion

Have something to add to this topic?

What happens in the Channel in 2021? How do we learn from 2020?Please take a listen to our #ChannelEdge discussion with 360insights CEO @jayatkins, as he shares what he learned from 2020 and what to expect for 2021. 

Listen here: https://okt.to/BaFdDk

#podcast #channeltrends

As the channel becomes more decentralized, vendors are under more pressure and are competing for share of voice and mindshare across an ever more varied channel eco-system. Is there a solution?

Our latest blog suggests there is, read on to find out: https://okt.to/K2CVzZ

Meet Kristy, Program Manager.
 
We’ve introduced Kristy as a part of our #dreamteam over on Facebook, check it out: https://okt.to/XLIm8A
 
#employeespotlight #careers #bestworkplaces

Want to accelerate your customer experience and markets by offering smarter, automated buyer promotions? 

You may find this success study showing how one brand achieved it insightful.

Read it here: https://okt.to/0AHPky

#casestudy #SuccessStory

The #OTAlumni Association Council is excited to announce the first 2021 speaker series: an evening all about workplace culture with @travisdutka, Culture Curator at @360insights and @OT_FBIT alumnus!

Register now: https://bit.ly/2XGXYcs

Load More...

What do you believe is the channel’s biggest challenge today?

Upcoming Channel Events

Are we missing an event? Tell us about it.

Channel Partners
May 4-7, 2020
VIRTUAL EVENT
SiriusDecisions
September 8-11, 2020
LAS VEGAS, NV
Channel Focus
Nov 17-19, 2020
NEWPORT BEACH, CA
360insights Relevance
Postponed
NEW ORLEANS, LA