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The Key to Effective Global Incentive Programs

Wednesday, December 7, 2016

Published by: Online Rewards Employee Recognition

Why are some global incentive programs more successful than others? The devil is in the details – and the right partner.

Some company leaders simply run employee recognition programs in the U.S. and ship rewards internationally. Others run separate programs in individual countries in which they have a presence. Progressive leaders now understand the value of integrating and centralizing their workforce programs as part of a total international reward and recognition strategy and employee value proposition.

Employers continue to have to compete for top talent. A 2014 Global Talent Management and Rewards study revealed that, although nearly 65% of the respondents were having difficulty attracting and retaining employees for key positions, most of the organizations didn’t even know whether their career management programs were working; only 27% monitored their program’s effectiveness.

Announcements

Key Factors

Because of the complexity of international reward solutions, it’s important to partner with an experienced global incentives provider. Such a supplier will be able to guide you through all of the factors you’ll need to accommodate in an international rewards program such as multiple languages, various currencies, reward fulfillment in various countries, taxes, duties, and more. An international online rewards supplier will be able to offer a true global rewards catalog, often with locally sourced rewards.

As many as 30% of employees report that they are not happy or engaged in their current roles, citing the absence of rewards and recognition as the main reason for their dissatisfaction. In order for companies to achieve business objectives, it’s critical that employees are engaged. Successful global businesses understand that a total reward strategy including international rewards and recognition will attract, retain, and engage a stronger workforce. Partnering with an experienced global provider will ensure that international incentive programs will be structured effectively and produce results!

B2B Channel Incentives and Distributor Promotions

Wednesday, November 9, 2016

Published by: Online Rewards Channel Incentives

Channel incentives and distributor or dealer promotions help create meaningful partnerships that increase loyalty and sales in the business-to-business (B2B) space based on purchase volumes and value.

Dealer promotions and distributor incentives are designed to inform, persuade, or remind your channel partners of your brand messaging and benefits.

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In one case study, a B2B channel incentive program helped an organization increase revenue by more than 32% (as well as many other great results).

A well-constructed B2B loyalty program for distributors and channel partners will help you:

  • Clearly communicate your brand
  • Launch new products
  • Increase sales of existing products
  • Direct sales efforts to specific products or brands
  • Expand your distribution network
  • Stay top-of-mind with your market between sales opportunities
  • Increase revenue and market share
What's in it for your distributor or channel partners?
  • Better trained sales force (on your brand's features and benefits)
  • Increased sales earn incentive rewards
  • Highly engaged sales representatives
Beware of unintended consequences

In some cases, distributors may be reluctant to take advantage of sales promotions based on volume purchases because they have no plan to move the excess inventory. An incentive professional can help the B2B partner structure a custom channel incentive program that helps the distributor sell the inventory through to their customers (pull-through incentive).

As with any partner incentive program, it’s important to start with clear objectives, then gear the program to that particular channel partner audience. By contracting with an incentive company that specializes in B2B marketing, you’ll be able to customize everything from the rule structure to reward options.

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