Automate a partner rewards program, helping channel partners become more loyal and profitable
Impartner, the world’s most complete, most highly rated, and most award-winning Partner Relationship Management (PRM) provider, has launched Rewards Management in Impartner PRM, helping channel leaders drive more partner loyalty and profitability.
Rewards Management helps channel programs formalize their rewards programs, eliminating sales friction and motivating partners to sell the company’s products over their competitors. The new SaaS feature automates advancement toward rewards and incentivizes partners to follow critical sales behaviors, such as deal registration, journey completion, etc. A dashboard shows progress toward these goals in one view.
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Impartner’s new Rewards Management helps channel leaders drive more partner loyalty and profitability.
“Implementing Rewards Management as part of your channel partner strategy helps motivate partners past the onboarding process by enabling incentive programs that are simple to manage and easy to use,” Gary Sabin, VP of Product at Impartner. “Channel programs become more nimble in meeting the needs of the entire channel program.”
Jay McBain, Chief Analyst at Canalys, discussed how important partner retention was in his keynote at ImpartnerCON2022. Companies must rethink partners past the initial purchase and discover how to engage and retain them like a 30-day renewable subscription model. He termed it as rethinking channels across partner and customer engagement every 30 days endlessly.
With Rewards Management, companies make rewards visible to partners so they understand what they are eligible to earn, the rules and requirements, what they have earned, and when they will get paid. If a partner believes it deserves a reward, they can submit a claim into the system where the claim can be reviewed and approved.
Some features of Rewards Management:
- Define reward calculation rules and requirements.
- The Dashboard displays activities, rewards earned or claimed, and approval status.
- Automate point or cash reward system for individual or company activity related to Deals, Journeys, Training, MDF, and more.
- Integrated with Approval Workflows to support review and validation of earned and claimed rewards before redemption.
- Sync rewards data to CRM or other external systems for fulfillment.
- Tie reward points into Business Planning or Program Compliance targets.