SPIFF Blindspots Are You Dealing with Them?
Operating a SPIFF program can be cumbersome, especially if you have hundreds, sometimes thousands, of sales associates, multiple locations, and an outdated sales incentive program. What makes it more problematic, is when you have SPIFF blindspots that linger within your program that cause your brand to suffer.
Here are two common blindspots you didn’t even know your brand is facing with your sales incentive program:
SPIFF BlindSpot 1: Fractured Communication With the Sales Channel
One of the biggest blindspots we have noticed as a leader in the incentives world, is fractured communication within the sales channel and neglecting to use a SPIFF program as a means to strengthen it.
Commonly, manufacturers will use channel incentive programs as a rationale to ship promotional materials at the beginning of the year, but won’t keep fresh information frequently flowing to the channel. This creates static, stale communication to the dealers, and enhances the already prevalent disconnect between brand and sales channel. Without a free flow of information and consistent updates, your sales channel won’t be engaged with your brand and your product won’t stay top of mind at the time of the consumer purchase, leading to lower sales and ultimately a lower ROI on your SPIFF program.
Without proper communication, such as the ability to deliver real-time updates enabled by a digital SPIFF program, brands face the inevitable loss in opportunity to educate sales associates on their product, on new promotions and important dates. By offering a digital SPIFF program, brands and manufacturers can instantly put relevant information on a landing page, educate owners and sales associates on new products, SPIFF promotions, brand updates etc. and allow for a more rapid and robust form of communication between brand and dealer, building brands advocates and maximizing ROI.
SPIFF BlindSpot 2: Excessive Focus on Competition and the Market
Another common blindspot brands face in the incentives world, is losing focus on brand SPIFF program initiatives.
When competitors or markets begin a trend, it is common for other brands to react and attempt to match those conditions. Too much time is then spent focusing on what the competition or market is doing and adopting their strategy, and less on enhancing the brand’s own current program. This can derail the whole purpose of your SPIFF program and cause confusion with your messaging to your channel and brand identity.
The focus needs to be on the SPIFF program as a reflection of your organization’s corporate strategy. A successful SPIFF program will have a definitive message, keep all areas of the channel informed and allow easy flow of communications between channel and brand. The program should be customizable, including targeted and branded messaging to your channel, while providing you with insights into how you are performing so you can make appropriate changes in order to make the most out of your sales incentives and maximize revenue. Additionally, your program should be connecting you with partners to help develop reporting metrics that will allow you to see how you are driving the program.
Avoiding SPIFF BlindSpots
Without clear visibility, your SPIFF program could lose traction and end up costing you more capital than you put in. Recognizing and eliminating these common blindspots won’t only increase your revenue but also create stronger relationships within your channel, benefitting you in the long run. A successful sales incentive program is more than just providing incentives to the sales team, it’s a way to build your brand.