Last Updated:
April 30, 2024
7 Effective Channel Incentive Programs that Work Like Magic for PVC Businesses
A strong distribution channel is critical for the PVC pipes and fittings industry. Manufacturers in the industry mostly rely on a multi-tier distribution system. They sell their products to distributors, who in turn sell to dealers, sub-dealers, or wholesalers. The wholesalers sell the products to retailers, who sell to plumbers or end-users. To ensure the smooth transition of plumbing products, many PVC makers leverage different types of channel loyalty programs, which help them enter untapped markets and give them a competitive advantage. At LoyaltyXpert, we not only help different sizes of PVC manufacturers in running a wide array of highly-effective channel loyalty programs but also brand loyalty programs and influencer loyalty programs. In this blog post, we have listed seven types of popular channel programs that work like magic in the PVC pipes and fittings sector. Read on to gain valuable insights. 1.Channel financing Even though it is not a channel incentive program in the truest sense, channel financing is one of the most attractive and effective mechanisms that can create solid loyalty among channel partners. Under this program, a select group of channel partners and key distributors get access to working capital at attractive rates, which allows them to undertake bigger […] read more
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Your Ultimate Guide For Channel Loyalty Programs
If you’re a traditional manufacturer or a B2B marketer, then you must be familiar with the terms ‘value chain distribution channel’ and ‘channel Loyalty programs.’ The former refers to intermediaries—distributors, dealers, stockists, wholesalers, and retailers—through which the end-user buys a product or service. The latter is a method to reward the intermediaries, aka channel partners, when they perform a desired activity or achieve sales targets and milestones. This blog post details everything you need to know about channel incentive programs starting from various types to the challenges, solutions, and best practices to run effective channel incentive programs. Types of channel incentive programs Channel incentive programs come in several different types. Some are designed to enhance sales volumes and profits of a sales channel, while others are created to enhance engagement with channel partners. Here are seven common types of channel incentive programs. 1. Sales incentives: Among the most popular incentives, these long-term programs are designed to enhance overall sales across a brand’s products. In this, channel sales partners receive incentives upon exceeding sales targets, volumes, and margins. 2. Sales performance incentive funds: These are performance-driven incentives that channel partners receive after promoting or selling specific products. When a brand invests in SPIFs, […] read more
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5 Popular Incentive Programs Work for Painters Businesses
As a paint manufacturer, you must tick all the above boxes before rolling out your paints and coatings into the market. But it would be best if you were particularly careful about the last two. Channel partners are the backbone of your brand and they can make or break your business. So, it is crucial to adopt the right channel incentive programs to motivate and keep them loyal. 1. Sales incentives These are the most common types of incentives channel sales partners receive in the paint industry when they achieve or exceed a particular sales target. Even though a majority of sales incentives are monetary, sales incentives such as single-use debit cards, gift cards, and point-based rewards are gaining popularity in the sector. Many renowned paint brands around the globe use sales incentives to reward their channel sales partners after they achieve specific revenue goals. If you want to motivate your channel partners and retain them for a long time, sales incentives will work like a charm. 2. Sales Performance Incentive Funds These incentives are designed to achieve high sales targets for a specific product or push harder for sales in a relatively short period of time. A recent report in Economic […] read more
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Your Ultimate Guide For Channel Loyalty Programs
If you’re a traditional manufacturer or a B2B marketer, then you must be familiar with the terms ‘value chain distribution channel’ and ‘channel Loyalty programs.’ The former refers to intermediaries—distributors, dealers, stockists, wholesalers, and retailers—through which the end-user buys a product or service. The latter is a method to reward the intermediaries, aka channel partners, when they perform a desired activity or achieve sales targets and milestones. This blog post details everything you need to know about channel incentive programs starting from various types to the challenges, solutions, and best practices to run effective channel incentive programs. Types of channel incentive programs Channel incentive programs come in several different types. Some are designed to enhance sales volumes and profits of a sales channel, while others are created to enhance engagement with channel partners. Here are seven common types of channel incentive programs. 1. Sales incentives: Among the most popular incentives, these long-term programs are designed to enhance overall sales across a brand’s products. In this, channel sales partners receive incentives upon exceeding sales targets, volumes, and margins. 2. Sales performance incentive funds: These are performance-driven incentives that channel partners receive after promoting or selling specific products. When a brand invests in SPIFs, […] read more
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