High-tech manufacturers are transforming their businesses from traditional transaction-based models to ones that focus on securing recurring revenue for a larger selection of products and services. These business models offer significant upside: increased market share, better customer experiences, and sustainable long-term revenue. But they will also impact the indirect channel – and considering the channel is the source of up to 70% of a company’s revenue, that means you must also transform your incentive programs.
Channel strategies should incentivize partners to think beyond the sale to pre-sale demand generation and post-sale education, training, and retention activities. Along with this omnichannel approach to sales, you should consider the hybridization of the channel itself. There’s not only an ever-growing number of partners, but those partners now represent different types of partners including influencers, consultants, and managed service providers.
To address these shifts and ensure you can build and manage the best-possible partner journey, you need to embrace a channel strategy that factors in your business model, as well as your current and future channel partners. A key factor in the success of your channel strategy is changing your approach to channel incentive programs.
In the ebook, “Transform your channel incentive programs for today’s new business models,” Model N explores the five steps you should take to evolve your incentive programs to succeed in the new era of technology-as-a-service:
- Structure and define your programs to drive strategy.
- Engage and enable your channel to adapt to new selling models.
- Improve the partner experience by making it easy to do business.
- Establish financial controls to ensure channel compliance.
- Quickly respond to changes in the channel, the market, and your business.
Download the ebook to learn how you create incentive programs that are relevant, effective, and revenue-generating with a single platform that manages all your incentives from plan to pay.
