Here's a question how much does it cost to run a successful channel program by yourself?
Ready for the number? On average, it costs roughly $2 million minimum.
Here's the truth. It takes over 50 people to run a successful channel incentive program. You'll need channel marketing, support, rewards fulfilment, finance, program management, IT developers, etc. They need years of experience with various specialized skills and resources.
While it's not impossible to do it yourself, it's a massive undertaking. That's why having a trusted vendor handle your channel incentive program with you is even better. Outsourcing can help you manage your resources properly, making your channel more efficient and effective.
Here are the benefits of working with a trusted partner:
Controlling Costs
That $2 Million? It can go down to $1 Million on average when you outsource. Reducing spending is possible with a trusted partner because they already have the resources. They've built the infrastructure, so you don't have to. They've already trained people, so you don't have to. They've been there and done that.
That means significant savings on your end, both tangible and intangible. Every dollar counts to ensure your program succeeds.
Efficiency
When your car breaks down, you go to a mechanic. When you have an illness, you go to a doctor. When you have a channel problem, you go to the channel experts.
There is no fumbling, guessing, or time wasted in getting your channel program up to standard. Going through every role and task in a channel incentive program would take days. You save time with a trusted vendor. Your partner is a resource with assets you can control and coordinate to help you identify aspects of your channel to improve.
Enables Future Planning
When you have a partner to take the burden off running your program, your team can focus on business-critical activities. You aren't worried about putting out fires and doing daily maintenance; you can make informed decisions. You can try new strategies, new product improvements, and innovate.
Conclusion
Working with a trusted partner means time and money saved. You will see an increase in revenue, engagement, and innovation.
A channel incentive program is not an unknowable monolith. It's a labour of love. One we know very well. Every day at ChannelAssist, there is an army behind the scene working. So consider outsourcing as an option when it comes to managing your channel.
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