MarketingDive recently covered the release of Incentive Solutions’ newest ebook, Get More Sales in a Recession Using Channel Incentives. The ebook, which is free to download, highlights the importance for business-to-business (B2B) brands to implement a strong incentive program for in preparation for an economic downturn. With a well-planned incentive program, brands can even increase sales during a recession.
According to Nichole Gunn, Chief Marketing Officer of Incentive Solutions, customer retention costs five to 25 times less than customer acquisition, making an incentive program for existing channel partners an effective choice for marketing teams facing budget constraints. The program also yields important data about channel partner performance, which can aid in making cost-effective decisions that increase sales during a recession.
The ebook emphasizes the opportunity for brands to stand out by offering data-driven incentive programs with meaningful rewards. It covers topics such as creating excitement and emotional connection with rewards, leveraging customer and sales data, eliminating marketing data silos, and improving product knowledge through training incentives.
In conclusion, now is the time for B2B brands to invest in a high-performing incentive program, ensuring stability and a competitive edge during a recession. To learn more about the ebook, see the full press release on MarketingDive. Or download the ebook directly, for free!