A lot of reward trends have come and gone during the past 20 years, following the lead of consumer purchasing patterns. There have been big disruptions—MP3 players, smartphones, voice assistants—but there has never been an event like the pandemic, which radically shifted people’s habits, interests and expectations.
Building channel loyalty has always been a challenge, and the pandemic has complicated matters more. From shuttered stores to the Great Resignation, many companies are looking for new ways to incent their indirect channels. Fortunately, there are newer and better ways to keep distributors engaged.
Partnering with a SaaS platform provider for sales rewards is a great way to not only increase sales but give great offers while rewarding customers.
Building channel loyalty has always been a challenge, and the pandemic has complicated matters more. From shuttered stores to the Great Resignation, many companies are looking for new ways to incent their indirect channels. Fortunately, there are newer and better ways to keep distributors engaged.
If you’re like most incentive program managers, you felt the pain of the pandemic. According to the Incentive Research Foundation (IRF), “there was a very large increase in merchandise and gift card program cancellations in 2021. The percentage of cancellations rose from 29% in 2020 to 44% in 2021. The percentage cancelling programs in Europe this past year was even higher than North America, with 66% of Europeans reporting cancelled programs.”
If you’re like most marketers, you’re looking for better ways to boost customer loyalty in today’s very competitive market. Shopper behavior has changed in the last two years, and your loyalty program needs to keep up. And here’s the really obvious challenge: as me-too companies have jumped on the cash-back bandwagon, cash-back is losing its appeal. It’s no longer a differentiator, and it’s practically table stakes in some industries, such as credit cards.
Employers typically compensate their salespeople with base salaries, commissions, and bonuses. They give a quota, generally a sales target like revenue or volume. In return, salespeople look for prospects, book appointments, give presentations, send proposals, and close deals. Yet, the sales process these days is not as straightforward anymore. Gone are the days when salespeople controlled the entire cycle.
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