What are partner incentives?
Partner incentives refer to the rewards, rebates, and other benefits you offer to your partners to motivate them to perform better, reach your shared sales targets, or promote your products more effectively.
Common partner incentives include financial rewards based on sales performance. Non-monetary incentives like exclusive access to training, public acknowledgements, co-marketing resources, or early product releases can also motivate your partners. In general, partner incentives include:
- Deal registration protection
- Training access
- The ability to offer long-term service contracts to your customers
- Marketing resources
- Early product access
- Public recognition
- Advisory council participation
- Joint marketing campaigns
- Co-op funds
- Lead sharing
- Market development funds (MDFs)
- Exclusive events
- Special promotions
Which incentives you choose to offer will depend on your partner program goals and your partner’s needs. Consider a cybersecurity firm, for instance. It may offer incentives like additional technical support, exclusive access to new products, or event sponsorship for partners who show consistent high performance. On the other hand, a manufacturing company may offer increasing volume-based rebates that incentivize partners to exceed their sales volume targets.
Partner incentives play a vital role in building your successful partnership strategy. They not only encourage partners to sell more of your products or services but also increase their loyalty and commitment to your brand.