eBook | 5 Guidelines to a Successful Spiff Program
How best to drive your channel partners to position your products over the competition
Vendors recognize the value and necessity of channel partners as their scalable go-to-market mechanism. Channel partners provide the means to sell products deep into markets that vendors do not have the ability or resources to reach. But when it comes to which vendor’s products to sell in competitive situations, channel partners have lots of choices. Therefore, vendors frequently use SPIFFs or SPIF’s (Sales Performance Incentive Funds) to influence the behavior of their channel partner sales teams. But what are SPIFFs? And how do you ensure you run a successful SPIFF Program?
The challenge for a vendor is:
“How do you best drive your channel partners to position your products versus the competition?”
What is a SPIFF or SPIF?
A SPIFF is a short-term incentive to drive sales in a set period of time. They can include dollar rewards, prizes, or loyalty points, but they are all aimed at one thing – driving your sales.
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Any kind of activity can be rewarded including sales, net new logos, certifications, recruitment, meetings, distributor activity, and YoY growth to name just a few. And all of these can vary by partner type, geography or any characteristic or attribute the user wishes to add as a level to the program.
Sounds good, right? But anyone who has experience working in the channel will tell you that if it were that easy, they’d use Spiff programs all the time and that would be all they need to drive sales. Put out a SPIFF and the rest takes care of itself. But, in reality of course, things aren’t that simple.
So download our eBook “5 Guidelines to a Successful Spiff Program” and discover how best to drive your channel partners to position your products over the competition!