81% of Channel Reps Agree that Rewards Strengthen Their Relationship with and Loyalty to the Sponsoring Company
The overwhelming majority of manufacturers rely on independent Channel Reps to sell and move their products through the channel. Realizing these Channel Reps aren’t employed or compensated by them and most likely have the ability to also sell competitors’ products, many companies turn to Channel Rep incentive programs as a method for gaining mindshare and increased loyalty to their products and services. But do these programs really work?
Maritz conducted a Channel Market Study to better understand the state of the channel and the effectiveness of incentive programs. So you think you know the channel? You might find the study findings quite surprising as they relate to the influence these programs have on affecting the amount of effort Channel Reps put forth and the impact they have on getting results. In addition, Channel Reps were quite open about the types of awards they desire, how they like to be communicated with and the types of rules and goals that motivate them.
Insights from the 2013 Maritz Channel Market Study is available for download.
A companion paper, How to Create “True Loyalty” in the Channel, uncovers five critical steps to make your program stand out and make you the manufacturer of choice in your channel.
Read our insights from the 2013 Maritz Channel Market Study.
Discover best practices for building channel rep advocacy for your brand and increased resistance to competitive offers.