How to Improve Channel Sales Using SPIFF Programs in 2021
SPIFF programs , otherwise known as ‘Sales Program Incentive Funds, are essential in helping sales organizations achieve their primary objective – grow sales. Over the years, SPIFF programs have evolved to increase their impact on their return on investment and improve their sales. However, many SPIFF Programs are not without their share of challenges ranging from funding to administration and measuring ROI. To overcome these challenges, SPIFF program best practices are being implemented.
Distributor Loyalty Programs To Use In 2021
Customer loyalty programs are popular strategies businesses use in rewarding their customers to encourage them to become repeated buyers. But how do small businesses serving as distributors for large brands get rewarded for their services?
Global Rewards Catalog: How to Use It for Customer Incentives
A loyalty program is a highly effective way to increase your revenue and also encourage customer loyalty. About 84% of consumers say that they are more likely to remain loyal to a brand with an effective loyalty program. About 66% of consumers say that their spending behavior can be influenced by their ability to earn rewards for their loyalty to a brand.
Tiered Customer Loyalty Programs: Building A Robust Strategy for the Business
Many businesses spend billions of dollars searching for new customers, neglecting the need to retain old ones. Customer retention plays a role in profitability and the growth and perception of your brand. Studies show that it is six times more expensive for businesses to acquire a new customer than to keep an existing one.
5 Ways to Do Sales Incentives During the Economic Recovery
The pandemic has had devastating effects on many businesses and corporations around the world. Today, many employees work remotely. Others have lost their jobs as a result of the pandemic. Thanks to the rapid vaccination programs around the country, the possibility of economic recovery is brewing.
The “New Normal” is Digital-First. How Do I Adjust My B2B Incentives Program?
The transition to digital was not easy for all B2B companies. Despite the affordability of online program implementation, some businesses struggle to achieve the desired level of engagement and a decent ROI of their programs due to the fragmented allocation of efforts and budgets. The implementation of an online incentive program must accompany specific changes in communication and organization of processes to be successful.
Will Your Customer Loyalty Program Survive After the Pandemic?
Although, more than 90% of companies offer some sort of loyalty program to their customers, not all of them are created equally. In exploring the different types of customer loyalty programs and understanding their benefits, we will give you some insights on how to customize your program and make it stand out in a crowd of all other industry programs.
Starting a SPIFF Program: Best Practices
Companies that want to remain competitive need to constantly seek new ways to market and sell their products during uncertain times. One way to strategically increase sales for a subset of products or services is through the use of SPIFF programs. SPIFF (Sales Performance Incentive Funding Formula) is an acronym used to define a structured […]
