Successful automotive sales rely largely on incentivising and motivating channel partners’. With increasing competition, it is essential that the channel partners are on top of their game.
Selling through channel partners opens organizations to new markets, making the launch and subsequent customer service smoother. It is essential to establish clarity over mutual expectations and value-based programs through consistent communication. It helps to recognize the value the organization offers to enhance a channel partner business and develop the right tools and resources.
It is essential to sustain loyalty and develop trust with channel partners for a long-term fruitful relationship. A combination of sales training, demos, marketing tools and lead generation programs, and training to identify and position solutions with assessment guides, scripts and case studies go a long way in equipping them.
Why start a channel incentives program?
With the current landscape, the kind of incentives expected has significantly changed from the past. This serves to reinforce the view that a more inventive strategy is needed in order to attract, retain, and get the best out of channel partners.
While commissions have been used as an incentive for several decades, research indicates there are more effective ways to encourage teams and drive sales. Cash-based incentives are important, however, they should not be the only reward for performance. This is where a structured incentive program is useful. It helps executives and management offer rewards that channel partners want to win.
Research demonstrates that non-cash rewards deliver an increase in performance when compared with cash. An ideal solution is to set up a rewards catalogue that spans different categories that ensure there is enough to interest everyone. Unlike cash rewards, non-cash incentives give the recipient the freedom and luxury to shop without the money automatically being absorbed into everyday finances.
Studies by the Incentive Research Foundation indicate that an incentive travel trip is a wonderful luxury option that will be remembered longer than cash. Similarly, products or merchandise, such as jewellery or electronic gadgets or even prepaid gift cards are increasingly popular options.
An incentive programme for an automotive business
The basic requirement here is that it integrates into day-to-day business operations seamlessly. The benefits offered by a well-structured incentive program include:
- Improved performance
- Higher sales
- Uplift in add-on sales
- Enhanced market share
- Heightened brand awareness
- Increased trust and confidence among personnel in the product being sold
- Improved loyalty
- Validation and appreciation for all teams within the company
- Optimized use of promotional funds
- Transparency over disbursing of promotional funds
Boosting Team Morale in Car Dealerships
For an incentive programme to have the maximum benefits, it needs to be capable of melding into the everyday routine of channel partners. This requires a customized, structurally sound programme that is strategically deployed incentives programme.
An incentives programme requires senior leadership to not just be aware of the benefits of a structured incentives programme, but communicate them with channel partners. With all this in mind an effectively managed incentives programme needs to have the following attributes:
- The focus should not just be on rewarding channel partners, but on engaging them
- Drive loyalty by reinforcing desired behaviours and outcomes
- Improved and transparent internal communications
- Ensure incentives are visible to and attainable by the partner community
- Structured within an agile framework capable of evolving
- Facilitate seamless reporting
- Capable of being deployed across multiple channel partners within the group
Deploying an incentive platform within the automotive industry
An online incentives platform needs to be expansive, accessible, agile and easy to manage.
- Instant rewards to acknowledge achievements, such as the sale of a high-end vehicle.
- A points-banking system encourages sales personnel to work towards larger rewards by meeting targets.
- A tracking feature that allows both employees and management to observe progress and claim rewards at a suitable time.
At Zaggle Propel, our incentive programmes are designed to drive higher engagement, motivation, and accelerated business results
- Our platform helps you define multiple KPI’s, KPI attributes, qualification criteria, weightages, ranges & more special conditions through a structured 5 step process. A game-changing feature allows you to design and implement a large variety of sales partner programs in mere minutes.
- Customizable redemption catalogue with gift merchandise and other experiences.
A versatile range of retail brand gift cards like Amazon, Lifestyle, Shoppers stop etc.
- Improved engagement and peer-to-peer interactions through our online portal.
- Individual dashboards for channel partners depicting their achievements and relative performance.
Zaggle Propel is an all-in-one solution for rewards, incentives and recognition to empower your channel partners.
- Seamless Onboard Experience
- Automated Claims and Schemes Management
- Peer Recognition & Nomination Based Rewards
- Customizable Metrics, Criteria, Conditions, Scorings for your Program
- AI-Driven Reports and Analytics
- Social Timeline Feeds, Polls, Surveys, Announcements
- Milestone Awards, Festival Giftings, Personal Occasions Etc
- Global Rewards & Redemption
Please reach out to us in case of any queries.