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Channel Transformation & The Role of Incentives

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How do you go about designing effective incentive programs that incorporate best practices, achieve transformational goals and positively impact channel behavior? At our recent webinar, Channel Transformation: Influencing Behavior with Incentives, presenters, Maria Chien, Service Director, Channel Marketing Strategies @SiriusDecisions, Lisa Penn, Chief of Staff, Global Partner Marketing @SAP, and Steve Kellam, VP of Global Alliances @360insights outline key tactics on how to do this.

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Channel Transformation & The Role of Incentives

  1. 1. September 26, 2018 CHANNEL TRANSFORMATION ROLE OF INCENTIVES
  2. 2. AGENDA + Speaker Introductions + The Channel Transformation Challenge + Role of Channel Incentives + Core Incentive Planning Components + Q & A
  3. 3. Hello – A Brief Introduction of Your Presenters Maria Chien Service Director, Channel Marketing Strategies Maria is an industry thought leader in b-to-b channels with more than 20 years of experience defining and implementing marketing and channel strategy. She is experienced in a variety of disciplines including channel marketing, channel readiness, partner enablement, partner program design and field marketing, and has expertise in leading and executing innovative go-to-market strategies to and through the channel. Lisa Penn Chief of Staff Global Partner Marketing Lisa brings over 20 years as an executive leader responsible for the development and execution of business-critical channel initiatives driving innovation and best practice across the global SAP partner eco system. She specializes in change management, channel marketing & sales, business operations and results-based management. Steven Kellam Vice President, Global Alliances Steven is Vice President of Global Alliances at 360insights. Steven has decades of experience and is a respected leader in channel incentives and marketing and has a comprehensive end-to-end understanding of what it takes for brands to succeed selling through complex sales channels.
  4. 4. © 2018 SiriusDecisions. All Rights Reserved The Reality in B-to-B Buyer Behavior The need for sales and marketing transformation
  5. 5. SiriusPerspective: @siriusdecisions 5 © 2018 SiriusDecisions. All Rights Reserved The Primary Driver: Buyer Behavior Organizations need to understand how buyers are likely to behave, and then how buyers actually respond to your organization’s offerings and tactics. Loosening of the Status Quo Committing to Change Exploring Possible Solutions Committing to a Solution Justifying the Decision Making the Selection 1. 2. 3. 4. 5. 6. SolutionEducation Vendor Selection
  6. 6. SiriusPerspective: 6 © 2018 SiriusDecisions. All Rights Reserved@siriusdecisions The Digital Imperative: The Reality of Buyer Behavior Information gathering and other activity via digital channels is consistent throughout the buying process. 66% 67% 66% 34% 33% 34% Early Mid Late Buyer Interaction Pattern Online Offline
  7. 7. SiriusPerspective: 7 © 2018 SiriusDecisions. All Rights Reserved@siriusdecisions Top Business Challenges for Sales and Partners Today Many of these challenges can be addressed through buyer-centric enablement and demand programs that focus on competency gaps. 72% Inability to connect offerings to buyer needs and challenges 69% Inability to differentiate offerings from competition or status quo 65% Poor content quality or inaccessibility Source: SiriusDecisions Command Center™
  8. 8. SiriusPerspective: 8 © 2018 SiriusDecisions. All Rights Reserved@siriusdecisions The SiriusDecisions B-to-B Buying Decision Process Framework Decision making is a cognitive process defined by psychologists as the selection of a course of action from multiple alternatives. Education SelectionSolution Period of Status Quo The buying entity is not a current client of any provider Period of Customer Experience The buying entity is a current client Period of Competitor Experience The buying entity is a current client of a competitor Decision is made that there is a reason for change Why? Decision is made on the approach on how to change Decision is made on the vendor of choice How? Who?
  9. 9. SiriusPerspective: 9 © 2018 SiriusDecisions. All Rights Reserved@siriusdecisions What Content Asset Types Are Most Valuable to Buyers? Content asset type is the receptacle for sharing information with a buyer to progress the journey to purchase. Analyst Report 32% Sales Presentation 27% Case Study 23% Published Article 21% Interactive Brochure 21% Most Popular Content Asset Types Source: 2017 Buying Study Static Brochure Promotional Video 16% (tie)
  10. 10. 10 © 2018 SiriusDecisions. All Rights Reserved@siriusdecisions Aligning Content to Buying Cycle Stages Loosening of the Status Quo Committing to Change Exploring Possible Solutions Committing to a Solution Justifying the Decision Making the Selection 1. 2. 3. 4. 5. 6. SolutionEducation Vendor Selection We might have a problem, or we are conceiving a vision. • Virtual Events • Social Media • Trade Shows • White Papers • Blogs Thought Leadership • Web Site/SEO • Webcasts • Self-Guided Demos • Product Collateral We understand the problem and how it connects to our business. Your solution applies to our need. • Sales Presentations • Webcasts • Live Events • Case Studies • Internal Blogs Your solution will have the greatest impact on our business. • Trials • Proofs of Concept • Competitive Tools • SME Access The business case is justified internally. • ROI Tools • TCO Tools • Business Case • Financial Presentation • Live Events We are confident on moving forward. • Executive Briefings • Analyst Reports • Customer References Solution Category Knowledge Value Story Solution Differentiation Financial Justification Decision Validation
  11. 11. © 2018 SiriusDecisions. All Rights Reserved The Evolution of Channel Incentive Programs Don’t take a one-size-fits-all approach – consider partner types, business models and personas
  12. 12. SiriusPerspective: 12 © 2018 SiriusDecisions. All Rights Reserved@siriusdecisions Channel Incentives in the Rearview Mirror Past performance is not an indicator of future growth – suppliers must look beyond sales rewards and develop incentives that drive future performance.
  13. 13. SiriusPerspective: @siriusdecisions 13 © 2018 SiriusDecisions. All Rights Reserved Why Channel Incentives Are Important Channel incentives keep the partner ecosystem engaged and motivated to drive demand and sell the organization’s offerings. • Recognize and reward partner contribution and performance • Enhance partner experience • Strengthen partner relationships and increase loyalty • Establish and maintain partner mindshare • Drive desired partner behavior
  14. 14. SiriusPerspective: 14 © 2018 SiriusDecisions. All Rights Reserved@siriusdecisions Aligning Incentives to Fuel Performance What growth goal are you are trying to achieve? Growth G Type What partner types are you trying to influence? T Persona What partner personas would you like to target? P Behavior What behavior would you like to see? B Channel leaders should start by identifying overarching goals, then apply incentives based on the behaviors they want specific partner types to follow.
  15. 15. WHICH MACRO TREND HAS HAD THE BIGGEST IMPACT ON YOUR CHANNEL? A. Emergence of New Partner Types B. Change in Buyer’s Journey C. Born-in-the-Clouds Resellers D. Other
  16. 16. Key Channel Transformation Challenges Insights about how buyers want to purchase b2b offerings are essential for driving growth and go-to- market strategies aligned to the buyer’s journey Suppliers continue to struggle to apply incentives, resulting in a lack of effectiveness and ROI Incentives often focus on past performance, rather than on influencing future behavior Changing factors – such as new routes to market, emerging partner types and new technology offerings – are altering the way incentives are created and executed Many partner programs have not been transformed or adapted to expanded routes to market or to consolidate disjointed programs Suppliers must modernize programs and incorporate best practices Best-in-class b2b organizations struggle to establish channel partner programs that can support their channel strategy and growth objectives PROGRAM GROWTH ALIGNMENT LACK OF PROGAM TRANSFORMATION ALIGNMENT TO BUYER’S JOURNEY INCENTIVE EFFECTIVENESS NEW INCENTIVE METHODS
  17. 17. WHICH CHANNEL TRANSFORMATION CHALLENGE IS MOST IMPORTANT TO YOU? A. Program Growth Alignment B. Lack of Program Transformation C. Alignment to the New Buyer’s Journey D. Incentive Effectiveness E. New Incentive Methods
  18. 18. Incentives Decision Matrix Planning, Implementation & Program Management Presented by Lisa Penn
  19. 19. Positioning an incentive program Planning the Right Incentive Program for Your Company ALIGNMENT EXISTING EFFORTS FUNDINGS EXECUTIVE SPONSORS TIMELINE Do you have critical KPIs that would benefit from an incentive to drive awareness and behavior? Are your stakeholders (regional or global) currently delivering incentives? Best practice? Extend & enhance? Can you secure budget to fund the start up, the maintenance and the programs? Can the region, product teams, sales or marketing teams share funding? Every program that is partner facing and requires budget, MUST have an executive sponsor. This leader often owns the budget for the program. What is the best time to launch the program? New product launch? Annual Kickoff? Digital marketing enablement End of quarter? (consider a pilot) OBJECTIVES Are there partner behaviours you need to drive? Do they differ by partner type? By location? By certification level? DECISION MATRIX
  20. 20. Program Requirements Identify Implementation Guidelines for Your Company TAX & COUNTRY GAME RULES CORPORATE COMPLIANCE RULES OF ENAGEMENT PILOT, LAUNCH & COMMUNICATE REGIONAL & LOCAL LT SPONSORSHIP Define ownership for the management of tax & country game/ program guidelines Corporate compliance is required; it may define program parameters, lengths and award amounts Define owners for overall program management, program development, comms and reconciliation Sponsorship from your regional leadership is required to secure approval, drive adoption and establish goals & targets When working with incentive programs, proper timely documentation is mandatory PLANNING & IMPLEMENTATION GUIDELINES
  21. 21. Ongoing Focus is Required Program Management Ensures Program Longevity PROGRAM MANAGEMENT STAKEHOLDER MANAGEMENT SALES MARKETING PRODUCT ENABLE SALES SALES SALESMARKETING DESIGN DESIGN DESIGN DESIGN DESIGN DESIGN DESIGN DESIGN DEVELOP LAUNCH DEVELOP LAUNCH DEVELOP LAUNCH DEVELOP LAUNCH DEVELOP LAUNCH DEVELOP LAUNCH DEVELOP LAUNCH DEVELOP LAUNCH BUSINESS NEED Understand your business and how the program supports current and future strategic efforts. Expand use to grow program ‘stickiness’. SPONSORSHIP Update your executive stakeholders on a regular cadence. Report results and highlight successes to a broad base of stakeholders. FUNDING Ensure your programs are integrated into annual planning processes. Position incentives for critical efforts requiring behavioral transformation.
  22. 22. HOW IMPORTANT ARE INCENTIVES TO DRIVING CHANNEL TRANSFORMATION? Very Important Important So-So Less Important Not Important
  23. 23. CONCLUSION
  24. 24. Core Incentive Planning Components What are you trying to achieve? Which channel segments are you targeting? What the best incentive for the persona & behavior? What behavior needs to be influence? GOALS PARTNERS INCENTIVEBEHAVIORS Incentive Planning starts with a clear goal, a target audience and behavior, and a program designed to achieve the goal through behavioral change.
  25. 25. QUESTIONS? WE HAVE ANSWERS.

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