5 things to consider before buying channel sales incentive software
5 things to consider before buying channel sales incentive software
In our last blog, we explored how channel sales incentive programs can fail if there is a lack of communication and if the program isn’t monitored from end-to-end. Now, one way to easily ensure an effective channel sales program is a well-made sales incentive software system. But not all the software out there will have the same capabilities.
In this blog, we will list five must-have features in the sales incentive software that you should be looking out for. Being the decision-maker, this will ensure that you empower your business by choosing the right tool available in the market.
So, what are the things to consider when buying channel sales incentive software?
Even though it is imperative to a business’ success, many still depend on traditional methods especially using the spreadsheet to drive their channel sales. This could be detrimental to business growth and the scaling of the incentive program itself.
Investing in the right software is of utmost importance. It is one of the key pillars of your channel sales incentive program. So, what are the things to consider when investing in one?
1) Is the software secure?
Overlooking security-related concerns can be a big mistake. This is because security breaches have become pretty frequent these days. As the digital landscape grows, so does the world of cybercriminals.
The automated incentive program for your channel partners needs to have the right security features in place. This is critical to safeguard company data. When considering buying a software system to help expedite the channel program and make it effective, ensure that the platform is impregnable.
2) Comprehensive dashboard for analysis and reporting for real-time visibility
A modern-day sales incentive software cannot be effective minus the dashboard. Every good system will have a payee dashboard that will keep the sales teams informed about their performance, reward status, targets assigned, achievement information, etc. All of this information will also be captured in real time.
Introducing hierarchy is also important in the dashboard view. Can an area manager see data of channel partners in their area? Can a zonal manager be given a similar but more detailed view? Besides this, individual sales representatives with targets should have access to the details of the commission plan and calculations for better clarity. Plus, if the system comes with built-in forecasting features, it can work as a motivator for the team members of the channel partner.
3) Gamification features to drive better engagement
To ensure that the incentive program keeps the channel partners engaged, including gamification is an interesting option. Such features usually include things that you would expect from an online game. Examples include leaderboards, chatrooms, quizzes, target meters, and more. Such features keep the program interactive and fun. It can help create a healthy competitive spirit amongst team members.
4) Mobile access
If the software system is accessible from a handheld device like a smartphone, it can make things further engaging for the ground team. On-the-go access is an essential parameter if the majority of your channel sales team is on the road.
Be it the redemption of awards, checking status, or getting a real-time report on key parameters, the team feels empowered. As you look to increase your sales and revenues, mobile accessibility can help the channel sales incentive program robustly.
5) Well-designed administrative functionalities
Another pre-requisite for the software program is related to making the system accessible on a role-based module. Managers, payees, HR, Finance, Operations, Support Help Desk, and the admin-in-charge should be able to access the system seamlessly. The system should have in-built functionalities that help send emails, messages to phone numbers, SLACK integrated, and so on.
In a nutshell …
A channel sales incentive program’s performance can be further boosted with the help of a well-designed software system. My Incentives is one such customizable platform that helps collaborate across distributed teams, provides authentic analytical insight, and is accessible from mobile phones. A versatile and multi-faceted software system that makes automation of your incentive compensation program a comfortable and seamless journey.
Interested to know more about My Incentives? Get in touch for a detailed demo!
In our last blog, we explored how channel sales incentive programs can fail if there is a lack of communication and if the program isn’t monitored from end-to-end. Now, one way to easily ensure an effective channel sales program is a well-made sales incentive software system. But not all the software out there will have the same capabilities.
In this blog, we will list five must-have features in the sales incentive software that you should be looking out for. Being the decision-maker, this will ensure that you empower your business by choosing the right tool available in the market.
So, what are the things to consider when buying channel sales incentive software?
Even though it is imperative to a business’ success, many still depend on traditional methods especially using the spreadsheet to drive their channel sales. This could be detrimental to business growth and the scaling of the incentive program itself.
Investing in the right software is of utmost importance. It is one of the key pillars of your channel sales incentive program. So, what are the things to consider when investing in one?
1) Is the software secure?
Overlooking security-related concerns can be a big mistake. This is because security breaches have become pretty frequent these days. As the digital landscape grows, so does the world of cybercriminals.
The automated incentive program for your channel partners needs to have the right security features in place. This is critical to safeguard company data. When considering buying a software system to help expedite the channel program and make it effective, ensure that the platform is impregnable.
2) Comprehensive dashboard for analysis and reporting for real-time visibility
A modern-day sales incentive software cannot be effective minus the dashboard. Every good system will have a payee dashboard that will keep the sales teams informed about their performance, reward status, targets assigned, achievement information, etc. All of this information will also be captured in real time.
Introducing hierarchy is also important in the dashboard view. Can an area manager see data of channel partners in their area? Can a zonal manager be given a similar but more detailed view? Besides this, individual sales representatives with targets should have access to the details of the commission plan and calculations for better clarity. Plus, if the system comes with built-in forecasting features, it can work as a motivator for the team members of the channel partner.
3) Gamification features to drive better engagement
To ensure that the incentive program keeps the channel partners engaged, including gamification is an interesting option. Such features usually include things that you would expect from an online game. Examples include leaderboards, chatrooms, quizzes, target meters, and more. Such features keep the program interactive and fun. It can help create a healthy competitive spirit amongst team members.
4) Mobile access
If the software system is accessible from a handheld device like a smartphone, it can make things further engaging for the ground team. On-the-go access is an essential parameter if the majority of your channel sales team is on the road.
Be it the redemption of awards, checking status, or getting a real-time report on key parameters, the team feels empowered. As you look to increase your sales and revenues, mobile accessibility can help the channel sales incentive program robustly.
5) Well-designed administrative functionalities
Another pre-requisite for the software program is related to making the system accessible on a role-based module. Managers, payees, HR, Finance, Operations, Support Help Desk, and the admin-in-charge should be able to access the system seamlessly. The system should have in-built functionalities that help send emails, messages to phone numbers, SLACK integrated, and so on.
In a nutshell …
A channel sales incentive program’s performance can be further boosted with the help of a well-designed software system. My Incentives is one such customizable platform that helps collaborate across distributed teams, provides authentic analytical insight, and is accessible from mobile phones. A versatile and multi-faceted software system that makes automation of your incentive compensation program a comfortable and seamless journey.
Interested to know more about My Incentives? Get in touch for a detailed demo!