Incentivize and drive desired behaviors over a set timeframe, with the ability to easily track and reward behaviors
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Rewarding individuals with SPIFF programs for achieving key goals such as sales achievements, deal registration or training, will drive partner preference, in your favor.
Vendors recognize the value and necessity of channel partners as their scalable go to market mechanism. And while channel partners provide the means to sell products deep into markets that vendors do not have the ability or resources to reach, partners frequently have relationships with between six and ten vendors.
Channel partners therefore have lots of choices as to which vendor’s products to sell in competitive situations. As such, it is important to run incentive programs to incentivize partners to sell your product over a competitor.
Many vendors therefore use channel SPIFFs or SPIF’s (Sales Performance Incentive Funds) to influence behavior with their channel partner sales teams. A SPIFF is a short-term incentive to drive sales in a set period. They can include dollar rewards, prizes, or loyalty points – but they are all aimed at one thing – driving your sales.
SPIFs can be utilized to reward many kinds of activity including sales, net new logos, certifications, recruitment, meetings, distributor activity and YoY growth. And all these can vary by partner type, geography or any characteristic or attribute a vendor wishes to add as a level to the program. Vendors who run successful SPIFF programs develop stickiness with key partners and create the win/win relationships that continue to drive revenue. Schedule a Demo
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