Forrester's Now Tech: Channel Incentives And Program Management, Q1 2019
Today, many brands turn to channel incentives to boost participation and effectiveness of their programs. They are proven to be effective tools to increase local brand demand and loyalty through your trade partner channel. They are also used to motivate new customer acquisition or motivate sales of your most profitable products.
Unfortunately, implementation of channel incentive programs can often become burdensome for your trade partners and result in frustrated salespeople, poor program utilization, poor brand alignment and ultimately poor local brand demand. This can actually incent negative behavior – causing partners to be so frustrated that they drop attention to your brand and move their attention to your competitors’ brands.
However, a channel incentive provider that can work past these barriers, and excels at helping to improve revenue and profit, increasing mindshare and loyalty, and expanding the breadth and depth of customer relationships, is a provider you want.
In Forrester’s overview of 21 channel incentives and program management providers, Channel Fusion can be found on this list of a channel marketing provider who hits these marks. The Forrester’s Now Tech report is to help B2B channel marketers understand the value they can expect from a channel incentives provider and select the appropriate one based on size and functionality. They based their analysis of channel incentives and program management market on two factors: market presence and functionality.
To explore functionality at a deeper level, Forrester broke the channel incentives market into three segments; point solutions, horizontal channel software tools, and hybrid B2B and B2C incentives tools. Channel Fusion can be seen under the horizontal channel software tools. Horizontal providers cover the entire partner journey from strategy and design of a program, onboarding, enablement and development, incentives, motivation and loyalty, measurement, and reporting.
While channel incentive programs continue to grow, global marketers still consider managing their channel partners to be one of their greatest challenges. Make sure you are selecting a vendor that aligns with your programs’ requirements and overcomes the challenges we’ve listed earlier.