Does this sound familiar: The number of partners and partner types you have is growing. Your industry, and the market in general, are constantly changing. You know incentives are an important driver of revenue, but your current incentive program is struggling.
You’re not alone. Many companies struggle to find the right channel incentive management solution. One that can drive results while staying flexible enough to meet current channel trends and evolutions. And one that can run smoothly without burdening your busy internal teams.
Finding the right channel management incentive platform and provider can make the difference between a program that stagnates and one that creates measurable results. But there are dozens of providers selling solutions that, on paper, sound similar. How do you choose?
Let’s dive deeper into why finding the right incentive management solution is so important in the current channel landscape, how to evaluate what’s working in your current program and what steps you can take to select a provider and platform that meets your goals.
Why you need a smarter channel incentive management solution
The channel partner landscape has never been more dynamic. Indirect routes to market are expanding at an exponential rate and new channel partners expect any incentive program they participate in to provide a personalized, modern and engaging user experience.
Traditional, manual approaches to managing incentives are rarely sophisticated enough to keep up with the pace and scale of the changes.
Program elements that could be hindering your program’s success include:
- Outdated technology struggling to segment different partner types and their unique needs
- Limited data visibility failing to provide a complete picture of what’s happening down the channel, hurting chances to optimize the program for better results
- Manual processes making claim entry clunky for participants and validation time consuming for administrators
You need a mix of robust technology and expert support to achieve your goals and engage your diverse channel partners.
Is it the right time to change your channel incentive management platform or provider?
Probably. If you haven’t evaluated your current program in several years, there’s a good chance it’s not set up to account for the changing market or take advantage of technological advances. In Forrester’s 2024 Tech Tide: B2B Partner Ecosystems report, they identified partner incentive management solutions as a key area for investment.
If your program has been getting negative feedback from participants, engagement is stagnant or your internal teams feel it’s taking time away from their other priorities, you’re getting clear signs that you’ve outgrown your current incentives solution.
How do you get buy-in from leadership for a new channel incentive program?
Research proves again and again that channel partners are looking for an easy-to-use, personalized incentive program experience. In our recent study of distributors involved in such programs, 97% of respondents indicated that personalization is very or extremely important for their engagement and participation.
The stronger you can make your incentive solution, the better results you can expect—and the easier it will be to get buy-in for the change.
Many companies with best-in-class channel partner programs are already using dedicated third-party providers to manage their incentives. By partnering with trusted incentive experts and technology for day-to-day administration, channel leaders can redirect their internal teams toward higher-value initiatives—such as channel strategy and relationship building. This approach streamlines operations and empowers your team to focus on driving growth, strengthening your partner network and elevating your brand’s market position.
For example, one of our clients used our incentives know-how to automate 20+ manual processes and reduce hundreds of software coding hours annually. Another client’s J.D. Power Customer Service Satisfaction Score jumped 55 points since they elevated their incentive program strategy and technology.
Results like these will help you prove the case for a better incentives solution.
Related: Learn how to position your channel incentive program for success by securing executive support.
How to pick the right channel incentive management platform and provider
You’ve decided a third-party incentives provider is the way to go, and you’ve gotten leadership buy-in. Now what?
With so many channel incentive platforms available, the selection process could seem daunting. You need the right partner who understands your needs and is a good fit for your organization.
ITA Group’s new guide, “Selecting a channel incentive solution: How to evaluate the best incentive management providers and platforms to meet your business goals,” will walk you through our proven three-step process so you can evaluate providers with confidence. The structured evaluation process will help you find a partner and platform that fits your business, streamline your program, and deliver measurable results.
The process is broken into three clear steps.
- Evaluate your current incentive program for what is and isn’t working
- Decide on goals based on gaps you found when evaluating your program
- Find the right incentive management provider and platform who can meet all your goals
To help you compare provider and platform offerings, our experts collected the best questions to ask (organized by program component category). These questions form the foundation as you evaluate, improve and maximize your incentive strategy’s impact.
Samples questions include:
- Program design and flexibility: How flexible is the platform when creating behavior-based incentives?
- Partner communications: Can we segment communications based on performance, demographics, etc.?
- Technology capabilities: Will we be locked into limited configurations or can we customize it to meet our needs?
- Reporting and analytics: Can we create custom reports and dashboards?
- Partner experience: How intuitive is the user interface for partners?
- Service and support: What support is offered after the build and program launch?
- Global support: How many countries are supported?
Take the next steps toward elevating your incentive program’s channel partner experience
Choosing the right channel incentive management platform and provider is a big decision, but it doesn’t have to be overwhelming. By following our structured process and curated evaluation questions, you’ll be well-positioned to select the solution that best drives results for your organization and your partners.
Ready to dive deeper? Read our comprehensive channel incentive management buying guide for a step-by-step framework, detailed evaluation checklists and expert tips to aid you as you evaluate channel incentive management platforms and providers.