{"id":1714,"date":"2019-06-01T05:07:04","date_gmt":"2019-06-01T05:07:04","guid":{"rendered":"https:\/\/new212fprod.wpenginepowered.com\/au\/insights\/b2b-channel-incentives\/"},"modified":"2024-12-02T12:27:41","modified_gmt":"2024-12-02T01:27:41","slug":"b2b-channel-incentives","status":"publish","type":"post","link":"https:\/\/212f.com\/au\/insights\/b2b-channel-incentives\/","title":{"rendered":"How Strategy Can Help Make The Most Of B2B Channel Incentives"},"content":{"rendered":"\n<p>Jim Sullivan (marketing consultant) suggested in B2B <a href=\"https:\/\/channelmarketerreport.com\/category\/topics\/page\/63\/\" target=\"_blank\" rel=\"noopener\">Channel Marketer Report<\/a>, that a well-executed strategy can greatly enhance the effectiveness of your B2B channel incentives program.<\/p>\n\n\n\n<p>Indeed, the success of a B2B channel incentives program can be achieved by considering how to create and leverage an effective strategy as well as getting to know each channel partner. <\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"\/contact\">Strategy first<\/a><\/div>\n<\/div>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n\n<section   class=\"two-column-block block-section alignfull col-12 row   light\"\n\t\t  style=\"background-image:url(https:\/\/212f.com\/au\/wp-content\/uploads\/sites\/2\/2024\/10\/red-waves.png);background-repeat: no-repeat;background-size: cover;background-position: top center;\" >\n\n\n\t<div class=\"row flex-start container container-xxl\">\n\n\t\t<div class=\"block-title-section row col-12 col-8-l no-padding \">\n<div class=\"col-12 no-padding\">\n<h2 class=\"\">\nWhat is Strategy About?\n<\/h2>\n\n<\/div><div class=\"block-text-area col-12 no-padding p-size \"><p><!-- wp:paragraph --><\/p>\n<p>To assess and shape your company&#8217;s strategy adequately, Michael Porter, a professor at the Harvard Business School, developed a framework of so-called forces that enable a deeper understanding of the macro environment and how it influences the microenvironment.<\/p>\n<p><!-- \/wp:paragraph --> <!-- wp:paragraph --><\/p>\n<p>The forces include the following:<\/p>\n<p><!-- \/wp:paragraph --> <!-- wp:list --><\/p>\n<ul class=\"wp-block-list\"><!-- wp:list-item --><\/p>\n<li>Competitive rivalry: Scrutinises the degree of competition.<\/li>\n<p><!-- \/wp:list-item --> <!-- wp:list-item --><\/p>\n<li>Power of suppliers: Considers the power balance between buyers and suppliers.<\/li>\n<p><!-- \/wp:list-item --> <!-- wp:list-item --><\/p>\n<li>Power of buyers: Looks at the ratio between buyers and sellers.<\/li>\n<p><!-- \/wp:list-item --> <!-- wp:list-item --><\/p>\n<li>Threat of new entrant: Analyses the relative ease of entry to the market.<\/li>\n<p><!-- \/wp:list-item --> <!-- wp:list-item --><\/p>\n<li>Threat of substitutes: Examines how many similar or same products there are in the industry.<\/li>\n<p><!-- \/wp:list-item --><\/ul>\n<p><!-- \/wp:list --> <!-- wp:paragraph --><\/p>\n<p>Applying Porter&#8217;s concept to your own operations will enable you to understand your position and how to influence it within the big picture. Moreover, being clear on your strategy can aid in the strengthening of brand loyalty overall.<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<\/div>\n\n\n\n\n<\/div>\n\n\t\t<div class=\"right-side col-12 col-4-l no-padding\">\n\t\t\t\t\t\t\t\t\t\t\t <div class=\"col-12 case-loop rotate-hover\"> \n\t\t\t\t\t<a class=\"casestudy-content col-12 row no-padding\" href=\"https:\/\/212f.com\/au\/case-studies\/new-holland-australia\/\">\n<div class=\"col-12 no-padding\">\n\n\t<div class=\"case-study-image\">\n\t\t<div class=\"the-image\" style=\"background-image: url(https:\/\/212f.com\/au\/wp-content\/uploads\/sites\/2\/2024\/10\/Case-Study-NH.jpg)\"><\/div>\n\n\t<\/div>\n\n<!-- graphic block -->\n\n\n\n\t\t\t<div class=\"graphic-image col-12 no-padding row flex-middle\">\n\n\t\t\t\t<p><b>94<\/b> % Sales Claims | <b>86:1<\/b> ROI<\/p>\n\n\t\t\t<\/div>\n\n\n\n\t\t\t\t<div class=\"col-12 quick-summary\">\n\t\t<i>Case Study<\/i>\n\t\t<h4>\n\t\tNew Holland Australia\t<\/h4>\n\t\t\t<p>\n\t\t\tIn a competitive agriculture market influenced by salespeople recommendations, find out how an incentive program drove sales growth and new product range. \t\t\t<\/p>\n\t\t<\/div>\n\t\t<\/div>\n\n<\/a>\t\t\t \t<\/div>\n\t\t\t\t\t <\/div>\n\n\t\n\n\t<\/div>\n\n\n<\/section>\n\n\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Knowing your Channel Partners<\/h3>\n\n\n\n<p>To be able to structure a high-value strategy, building good\nrelationships with channel partners is important and helpful. Making the most\nof this bond will naturally tie in with your strategy, but it requires\nconsideration of certain factors.<\/p>\n\n\n\n<p>Before commencing a relationship and determining what activities should\nbe undertaken, you need to have a specific vision as to what you can offer your\npartners. Management consultancy agency SME Strategy emphasises that asking\nwhat your long-term vision is will help you achieve it much faster than going\nin without a specific goal.&nbsp; <\/p>\n\n\n\n<p>Once you know what the endgame is, gaining as much information on your channel partners&#8217; businesses as possible will allow you to have a better understanding of how they determine success. Here, Porter&#8217;s framework starts to come in, as you can assess the relative competitive environment of your channel partners and analyse the level of commitment needed to enter the market as a new player.<\/p>\n\n\n\n\n<section   class=\"two-column-block block-section alignfull col-12 row flip  dark\"\n\t\t>\n\n\n\t<div class=\"row flex-start container container-xxl\">\n\n\t\t<div class=\"block-title-section row col-12 col-8-l no-padding \">\n<div class=\"col-12 no-padding\">\n<h2 class=\"\">\nThe Power of Suppliers & Buyers\n<\/h2>\n\n<\/div><div class=\"block-text-area col-12 no-padding p-size \"><p>At this point, analysing the relative power of suppliers and buyers about your channel partner will give you, yet again, a deeper understanding of the specific industry drivers, thus allowing you to tailor your program to their exact needs. The Loyalty Guide (TLG) suggests identifying who has the power to dictate price and product supply at what point in the supply chain.<\/p>\n<p>According to both Mr. Sullivan and TLG, once there&#8217;s an understanding of how success is defined for both you and your channel partners, establishing a comprehensive action plan together is key. Go as in-depth as possible, asking questions of who is in charge of what, when and where, as well as setting priorities of what can add value to the venture.<\/p>\n<p>Regarding the flow of inventory planning and control, collaboratively setting expectations as to the turnover rate and communication channels can further help reach desired targets more effectively.<\/p>\n<\/div>\n\n\n\n\n<\/div>\n\n\t\t<div class=\"right-side col-12 col-4-l no-padding\">\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"col-12 article-loop\"> \n\t\t\t\t\t\n\t\t\t\t\t<a class=\"article-content col-12 no-padding row\" href=\"https:\/\/212f.com\/au\/insights\/best-defense-good-offense\/\" style=\"margin:0 0 20px 0;\">\n\t<div class=\"col-12 row flex-content-top no-padding\">\n\t\t<div class=\"blog-image-wrapper col-5 no-padding\">\n\t\t\t<div class=\"blog-image\" >\n\n\t\t\t\t<div class=\"the-image\" style=\"background-image: url(https:\/\/212f.com\/au\/wp-content\/uploads\/sites\/2\/2024\/11\/Copy-of-Copy-of-Long-image-Incremental-sizing-3.png)\"><\/div>\n\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t<div class=\"col-7 row content-section\" style=\"align-content: flex-start;\">\n\t\t<h5 class=\"col-12\" style=\"font-size:80%;\" >\n\n\n\t\tThe Best Defense is a Good Offense!\t\t<\/h5>\n\t\t<div class=\"col-12 blog-content\" style=\"font-size:80%;\" >In this current market environment, the best defense is a good&#8230;<\/div>\n\t<\/div>\n<\/div>\n<\/a>\t\t\t <\/div>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"col-12 article-loop\"> \n\t\t\t\t\t\n\t\t\t\t\t<a class=\"article-content col-12 no-padding row\" href=\"https:\/\/212f.com\/au\/insights\/b2b-customer-journey\/\" style=\"margin:0 0 20px 0;\">\n\t<div class=\"col-12 row flex-content-top no-padding\">\n\t\t<div class=\"blog-image-wrapper col-5 no-padding\">\n\t\t\t<div class=\"blog-image\" >\n\n\t\t\t\t<div class=\"the-image\" style=\"background-image: url(https:\/\/212f.com\/au\/wp-content\/uploads\/sites\/2\/2024\/09\/iStock-1457869194.jpg)\"><\/div>\n\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t<div class=\"col-7 row content-section\" style=\"align-content: flex-start;\">\n\t\t<h5 class=\"col-12\" style=\"font-size:80%;\" >\n\n\n\t\tUnderstanding your B2B Customer Journey\t\t<\/h5>\n\t\t<div class=\"col-12 blog-content\" style=\"font-size:80%;\" >Your one-stop shop to understanding the B2B customer journey, and how&#8230;<\/div>\n\t<\/div>\n<\/div>\n<\/a>\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\n\t\n\n\t<\/div>\n\n\n<\/section>\n\n\n\n\n\n<h3 class=\"wp-block-heading\">How strategy can help you make the most of channel incentives?<\/h3>\n\n\n\n<p>Executing a great strategy is as important as creating it. <\/p>\n\n\n\n<p><strong>Things to look at<\/strong><\/p>\n\n\n\n<p>When creating a successful incentive program, you should always have the end-to-end supply chain in mind.  To do well, Sullivan suggests to do the following: <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Have a set goal beforehand: Focus on building\nobjectives that are specific, measurable, attainable, realistic, timely (SMART)\n<\/li>\n\n\n\n<li>Execute your strategy: Lay out a plan for\naccountability, feedback and progress reviews to stick to your strategic goals.<\/li>\n\n\n\n<li>Align your objectives: Prioritise making your\nchannel partner&#8217;s goals sync with yours to ensure you are working for the same\nvision.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>To be able to structure a high-value strategy, building good relationships with channel partners is important and helpful.<\/p>\n","protected":false},"author":5,"featured_media":1715,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[12,44],"tags":[],"class_list":["post-1714","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solution","category-channel-partner"],"acf":[],"_links":{"self":[{"href":"https:\/\/212f.com\/au\/wp-json\/wp\/v2\/posts\/1714","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/212f.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/212f.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/212f.com\/au\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/212f.com\/au\/wp-json\/wp\/v2\/comments?post=1714"}],"version-history":[{"count":0,"href":"https:\/\/212f.com\/au\/wp-json\/wp\/v2\/posts\/1714\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/212f.com\/au\/wp-json\/wp\/v2\/media\/1715"}],"wp:attachment":[{"href":"https:\/\/212f.com\/au\/wp-json\/wp\/v2\/media?parent=1714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/212f.com\/au\/wp-json\/wp\/v2\/categories?post=1714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/212f.com\/au\/wp-json\/wp\/v2\/tags?post=1714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}