Sales incentive programs, or SPIFF programs, are proven to be effective tools to increase local brand demand and loyalty through your trade partner channel. This is especially true if your trade partners also sell competitor brands. We’ve always known that salespeople are highly motivated by direct monetary incentives. We have seen this to be especially true when they can directly and in real time see the status of their claims, can expect a high approval rate, and receive their SPIFF check quickly.
Why do companies utilize SPIFFS in their channel marketing strategies? A common reason we see SPIFFS used is when a new product or model is being launched to the market, a brand may want to move existing inventory off the trade partner floors and shelves so the salespeople can then get focused on the new product being launched. Putting an extra SPIFF on the old models can be extremely effective in accomplishing this goal. SPIFFS are also effective to motivate new customer acquisition or to motivate sales of your most profitable products. Conceptually, a typical sales SPIFF program is fairly straightforward to define and administer.
It would work something like this: The channel marketing program manager will identify the goals and objectives, requirements for salesperson eligibility, and requirements for product (or other defined parameter) eligibility. This is communicated to the channel partners and is well understood. The salesperson understands clearly, is motivated to sell the SPIFFed product(s) and does so, then registers the product model, and ta-da! They quickly receive their SPIFF check. They are rewarded, happy, and now focused more than ever on the brand and its products.
Unfortunately, implementation of SPIFF programs can often become burdensome for your trade partners and result in frustrated salespeople, poor program utilization, poor brand alignment and ultimately poor local brand demand. This not only completely defeats the purpose of implementing a SPIFF program, but it can actually incent negative behavior – causing salespeople to be so frustrated that they drop attention to your brand and move their attention to your competitors’ brands. Therefore, it’s critical that a SPIFF program be effectively set up and administered. Based on our work with some of the world’s strongest brands, we have found the following best practices in SPIFF program management:.
First and foremost, the SPIFF program should be integrated into the brand’s overall marketing activities and funds. It should be seen and managed as one of many tools in the marketer’s arsenal. It is ONE element of channel marketing. As you measure your overall channel marketing ROI, it should include your SPIFF incentives, along with the other channel marketing activities.
So, your sales SPIFF programs need to have good integration with all your other channel marketing programs. Clear upfront program rules: The program should clearly communicate what products are eligible for reimbursement and how quickly salespeople can expect to be reimbursed.
They should have smart rules programmed that are aligned with what salespeople are likely to do. By doing so, you will reduce the chance that salespeople experience the frustration of unmet expectations. Salespeople that are frustrated start focusing on the next brand. SPIFF reporting available to the salesperson on a real-time basis, in an easy to use format. Salespeople want to know the status of their SPIFF claim.
Has it been received? Approved or denied? When will I get paid?
Has the check been sent? A good SPIFF software management tool will provide all this information in a super easy to use form. (Remember, if it’s not easy for the salespeople to use, they won’t use it!).
Real-time validation (and correction) of the salesperson’s submitted information. With real-time information validation errors are identified on the spot, so it’s easy from a salesperson to make a correction. For example, right at the point of information entry, if the salesperson forgets to input a field, or provides a model number that is not covered under the SPIFF program, or an invalid address, good SPIFF software will immediately cause a pop up window to occur, flagging the missing or wrong information. A good SPIFF software program will have things like the correct model numbers defined up front, so it won’t even allow an incorrect model number to be entered. This real-time validation provides immediate feedback in the form of business rules and reduces salesperson frustration. Who wants your salespeople to think they’re getting SPIFFed on a product they sold, only to get the disappointing news after the fact, that the product wasn’t covered?
Again, frustrated salespeople results in them incented to focus on your competitors’ products. A good system will go even further to follow up with email messages to the salesperson, and when needed, quick personal outreach by phone and email.
Pro-active and interactive two-way information and communications system: A good system will provide the brand’s prioritized messages to the salespeople when they log into their program portal. For example, they might see information about new SPIFF programs that are beginning, or a reminder to correct a missing field of information on an existing claim.
A two-way communication system allows for better interaction vs. Manual programs, or programs that require salespeople to mail in, fax in, or email the information. Individualized communication preferences. How do your retail salespeople want to receive your information and submit claims?
A good program will let them identify this upon registering. For example, salespeople can identify to be emailed only, or some might prefer text messages or phone calls. For submitting claims, some might choose online submission or emailing claims with attachments, while others might prefer mail or fax. SPIFF Fraud Prevention Mechanisms: Unfortunately, fraud does exist, and it is estimated that between 2% to as high as 13% of claims are fraudulent, depending on the product category. A good SPIFF program will have business rules, and associated third party validation data that prevent fraudulent claims from being processed. So, for example, if the serial number is used more than once, or invalid addresses or consumer data is being submitted, it will be caught by the software rules immediately.
Fast and accurate claim review. We can’t overstate the importance of this. A good program will review a claim and provide feedback within 24-48 hours.
Salespeople are highly motivated by SPIFF Incentives, but we know from experience that if they don’t get quick turnaround on their claims and don’t receive their money quickly, they will disengage in the brand and turn their attention elsewhere. Automated claims review: Often SPIFF programs are implemented to motivate salespeople at a particular time of year (think holidays, the kick-off to spring lawn maintenance season, etc). If your SPIFF claims review process is manual and dependent on people, then it simply can’t process the capacity spikes in situations like this.
An automated system, with well-designed business rules can. It gets back to timeliness of response.
If the salesperson is not seeing feedback on their SPIFF claims with your brand, they’ll bale out quickly and redirect their selling energies. Friendly, experienced, and helpful humans: Automated software will dramatically reduce the number denial rate for SPIFF claims. However, there will always be those few salespeople that simply need a helpful human at the other end of the phone. A good SPIFF management program provider will have a team of experienced and helpful program managers for just such a case. The goal is to make the salespeople successful in submitting their claims, right? So let’s help them! The more successful they are the more successful we are in achieving our brand channel marketing objectives.
Fast SPIFF payment turnaround time: If you do the above things, your turnaround time should be fast, which means it will be effective. Payback in days is ideal and no more than a couple of weeks. Especially with products that have short sales cycles, salespeople are motivated on a short selling horizon. If your SPIFF turnaround time extends beyond this horizon, you will lose their attention. One singular point of entry for the distribution partner’s channel marketing: The SPIFF activity should be available in the same common portal dealer personnel use for their other channel marketing activities (co-op, rebates, ads, etc). This avoids separate site with numerous passwords to remember. When it’s all integrated, it’s easier for the dealers, more efficient for the brand marketers, and will result in program objectives being met.
Helpful SPIFF Reporting: By this we mean easy to access and understand reporting of claims status for the salespeople. They should be able to go online and quickly see the status of all their claims and know exactly how much was approved and then to expect the next check. It’s as simple as that. A report might look something like this: A successful sales SPIFF program needs to run very smoothly, otherwise it defeats the original purpose and can actually backfire, causing salespeople to actually stop promoting your product and incenting them to turn their attention to your competitors’ products. People (including trade partner salespeople) tend to take the path of least resistance. We believe if you implement these best practices into your sales SPIFF programs you will reduce those points of resistance and see more engaged salespeople and ultimately, stronger local brand demand and loyalty. To learn more about how we helps our clients achieve their sales SPIFF program goals.
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No notes for slide. SPIFF. Sales Incentives. Best practices and case studies. This term has been around for awhile. So has the idea of rewarding sales people for their performance.
Everybody always comments on the missing second “F”. Typical spiff program flow. Salesman sells Ginsu knives to restaurant. Restaurant buys knives and gives money to Ginsu. Ginsu receives money and pays salesman. Salesman receives regular commission for sale.
Salesman receives added incentive pay in the form of spiff rewards. In this example the spiff reward is cash that is loaded onto a Vis gift card for the salesman to spend at his discretion. Why this works. The spiff reward gives the sales person something tangible to use as a goal.
Their basic commission might be enough of an incentive for them to reach their quota. But when they have a separate account that is earning extra money for whatever they want to use it on, now those extra sales don’t just mean that they are beating their quota, they mean they are earning a jet ski or a trip to Hawaii or golf vacation or whatever. The spiff makes their fantasy a reality and gives them a way of achieving it. They are no longer selling a product, they’re building a boat.
They’re no longer generating leads, they’re adding to their set of golf clubs. Huntington Homes/Highland Homes is a Texas based home builder that shares one thing in common with other builders: incentive programs for realtors. Numantra helped Huntington Homes/Highland Homes introduce their latest incentive program with this over-sized brochure. The piece touts the big bonuses while it reinforces their Texas point of difference by reminding the realtor that “everything’s bigger in Texas. This is the front and back of an accordion fold brochure. The spiff program here involved a rechargeable credit card that would automatically receive cash bonuses when sales were completed. These bonuses were in addition to the standard #% commission and basically meant that a realtor could get paid as much as 5% commission on sales.
This spiff program we developed for Hoya was designed to eye care professionals working at dispensaries recommend and sell more HOYA lenses. The program goes something like this: Sell qualifying HOYALUX ® progressive lens designs to earn something green — add HOYA anti-reflective coatings, Transitions ® lenses or NuPolar ® polarized lenses for even more green. In addition to great prizes, monthly winners will receive cold hard cash.
Plus, two lucky grand prize drawing winners will walk away with the keys to something even greener — a Lexus ® GS 450h Hybrid two-year lease. Remember, the more you sell, the more green you can win. Click on the website image above (center picture) or go to to review the site that supported the program. The next spiff prlogram for HOYA was like the previous one. This time the grand prize was a trip to Greece. This time, we added more prizes and with a grand prize trip to Greece, we were able to make the prize pool more thematic. Check it out by clicking on the website image above (middle) or visit the following link:.
To increase program participation, we teased the next promotion with print ads that ran in the trade publications. The print ads lead to a landing page where eye care professionals could sign up to be informed of the prize destination by email. They were also invited to guess at the destination for a chance to win a free gift. Finally the destination was revealed. Visit the website by clicking the image above or visiting.
More thematic prizes were added to this promotion than before. And a virtual itinerary was created to lead eye care professionals around the various destinations of the grand prize. In addition to the stickers they can earn for selling HOYA product, they were also invited to take weekly quizzes that helped to sharpen their product knowledge. Correct answers on the quizzes were also rewarded. Product information was important to this program so in addition to the quizzes, every page had a revolving series of questions incorporated into the upper right corner. Quarterly sweepstakes keep sales people interested.
A new promotion is announced each quarter. An email is sent each month. One moth, the email announces the promotion.
The next month, the email provides a sales tip, announces the winner of the last promotion and announces the next upcoming promotion. And the third email invites sales tips from the salesforce.
And then the cycle is repeated. When too many points have been accumlated but not redeemed, we launch a point burner.
It’s a promotion designed to encourage salespeople to spend their points. In this case, they can spend their points for a chance to win cash instantly. Dentzone private labels their service so we also provide versions of the spiff porgram that are specific to those individual company salesforces. For Good Days from CDF, we helped generate a spiff program for their Walgreens fundraiser. When employees of Walgreens receive%5 donations for Good Days from their customers, they give the customer a free 2012 calendar. And the employees that receive the most donations receive free movie passes.
Plus the stores that perform the best receive movie watching parties. A managers guide and checklist was created to help managers launch and support the promotion. Calendars and coupon books were given to customers when they made donations.
ePrize is a leading e-promotion company that we have consulted with a several occasions. The following three slides are examples of their case studies. Spiff 101: Sales incentives. Best practices and case studies. Overview SPIFF Definition SPIFF Best Practices Numantra examples Eprize examples Key Considerations.
What’s a SPIFF? Spiff 1 verb (used with object) Informal. To make spiffy (usually followed by up ): Let's spiff up this office with new furniture. Origin: 1875–80; perhaps v. Spiff well-dressed; see spiffy. What’s a SPIFF?
Spiff 2 noun 1. A bonus or other form of remuneration given to retail salespeople for promoting the products of a particular manufacturer. Verb (used with object) 2. To reward (a salesperson) with a spiff.
Origin: 1855–60; origin uncertain. “ Special Performance Incentive Fund”. 1. Salesman sells company’s product to customers 2. Customers pay company for products 3.
Company pays salesman 4. Salesman receives regular commission 5. Salesman receives SPIFF rewards. Why this works TANGIBLE GOALS MEETS QUOTA. SPIFF Best Practices When a manufacturer wants to gain market adoption with a new product When a retailer wants to liquidate some of its inventory To incent sales people to sell certain combinations of widgets, etc. SPIFF Best Practices Budget of all programs should not exceed the total earnings of the sales force by 3%. Spiffs should be used for “doing something new for the first time.” They should not be used to spike performance during a period.
They are narcotic in nature: the more you use them the more you need to use them. Moderation of use with healthy hoopla is the best prescription for success. Avoid the use of “chance” to determine winners and payouts. SPIFF Best Practices Most contests or spiffs are made up of three components: A Sales Driver Measurement To Win A Prize. SPIFF Sales Drivers Sales Dollars, Revenue Dollars, Sales/Revenue For Target Products, Attainment of Quota, Average Order Size, New Business- Renewals-Winbacks, Pipeline Built, Quotes/Proposals Sent, Quote/Proposal Close Rate, Telephone Calls, Face To Face Visits, Decision Maker Contacts, Voicemails Returned/Inbound Calls, Phone Time You may also want to tie your contest to sales behaviors.
For example: Listening for sales reps using sales scripting or voicemail messages that you’ve coached them to use. Sales behaviors do drive sales, but are harder to track and measure. SPIFF Sales Measurement First, Most or Highest Most improved or biggest gains in specific period, ex.
Day over day, week over week Best team performance Most team members achieving drivers (ex. 70% of team, versus 30% of team). SPIFF Prizes If Reps have a very lucrative commission plan outside of the contest, the prize for your contest will need to be lucrative enough in comparison to drive any results. For example, if my monthly incentive target is $10,000 and is tied to hitting my sales dollar quota, if you run a contest tied to the best voicemail messages and the prize is only $100 or a company golf shirt, I will probably not participate.
It would be in my best interest to focus on driving sales toward my $10,000 payout. On the flipside, if the contest prize is too lucrative, I may stop focusing on my core responsibilities and just try to win the contest prize. EXAMPLES. DentZone Proposed Sales Incentive Program We’re going to keep dealership employees selling with the Dent Zone Sales Rewards program! First, we’ll create a 12-month long sweepstakes program with multiple entries.
In order to receive an entry, the dealership employees will need to watch a video or engage with the brand. We’ll also implement a sales reward program that will reward dealership employees for selling Dent Zone services. We’ll verify sales via a unique code, or integration with a back-end server that tracks all sales. For each sale and employee makes, they get a spin on the SPIFF Wheel! The SPIFF Wheel is pre-populated with different cash amounts that employees will win – from $5 to $500! The more you sell, the more chance of bringing in some huge cash! Employees will receive monthly emails with valuable content and reminders to sell and participate in the sweepstakes.
DentZone Proposed Sales Incentive Program Monthly Emails. Employees will receive one email every month with great content and a reminder to sell more and participate in the Sweepstakes.
Sweepstakes Overlays. Low-hurdle participation element to keep employees engaged over the course of the year, and educated about the service. High-level rewards keep players excited and engaged. They will sell more, knowing it increases their chances at larger rewards! Virtual Punchcard. Virtual Punchcard is a continuity approach designed to reward multiple behaviors over a longer campaign period. Increasing rewards over multiple thresholds helps reinforce behaviors, drive sales, and maintain interest.
E-PRIZE EXAMPLES. Key Considerations Goals and Objectives. What do you want to accomplish? What activity or behavior do you want to incentivize? What formats and channels will be used to communicate the program and support program activity? How will the program be implemented?
How will we protect against fraud? How will incentives be rewarded? How will success be measured, tracked and reported?
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Sales Spiff Programs
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. SoftServe collaborates with an Ontario-based provider of incentives management SaaS platform provider Fort Myers, FL — January 30, 2014 – SoftServe Inc., a leading global outsourced product and application development company, today announced the company has created a strategic alignment with, a provider of the user-friendly, sophisticated and highly flexible software as a service (SaaS) platform that enables large businesses to manage highly complex incentive programs in real time.
The SoftServe team will offer support and enhancements for the 360 incentives core website and main services. Moreover, the SoftServe DevOps experts will work on improving reliability, security and acceleration development and deployment cycles for 360 incentives.
“SoftServe approaches every project using the methodology that combines people, processes, and technology to deliver the highest quality software – in the most efficient manner,” said Alan Harlan, CEO, SoftServe. “We believe this approach sets SoftServe apart from our competitors as it’s the foundation for ensuring predictable, repeatable results and faster time to market for all our customers.” The 360 incentives solution allows manufacturers and distributors to maximize the effectiveness of their programs while minimizing administration efforts and costs to execute. It enables customers to create, measure and manage all of their incentives programs such as sales spiffs or rebates in real time with 100% auditing, fast payout of claims, enhanced analytics visibility, flexibility of modules and payment methods, and exceptional customer service. 360 Incentives platform ensures effective fulfillment of incentives programs by bringing new technology to a business to increase top-line revenue. The platform provides a process that is fast moving, fast paying and transparent throughout. ### About 360 Incentives 360 Incentives is a company founded in 2008 in Canada with the idea that the world of manufacturer and distributor sales spiffs, rebate programs, sell-through allowances and other marketing incentives could be handled using the latest technology and saving people time, paper and delivering a really unbelievable user experience. This commitment to delivering unbelievable experiences has enabled 360 Incentives to work with huge global brands: GE, Whirlpool, Samsung, LG, Electrolux, Sub Zero Wolf, Frigidaire, Danby, Bosch, Lennox and Unilock to name a handful.
For more information, visit. About SoftServe Inc. SoftServe, founded in 1993, is a leading global outsourced product and application development company dedicated to empowering businesses worldwide by providing end-to-end capabilities from product concept to completion. We leverage our Abiliton™ best practice framework for software development optimization, ensuring predictable, repeatable results, faster time to market and highest-quality applications. SoftServe delivers proactive solutions in the areas of SaaS/Cloud, Mobility, BI/Analytics and UI/UX for industries including Healthcare, Retail, Manufacturing, Logistics, and Infrastructure & Systems.
SoftServe is a rapidly growing global company with over 3,000 professionals and offices in North America, Western Europe, Russia and Ukraine. More information can be found.
Contents. Origin An early reference to a spiff can be found in a of 1859; 'The percentage allowed by to their young men when they effect sale of old fashioned or undesirable stock.' An article in the of 1890 on the practices in London shops uses the term: a 'spiff' system is usually adopted, spiffs being premiums placed on certain articles, not of the last fashion, indicated by a marvelous hieroglyphic put on the price ticket. These marks are well known by the assistant, and the almost invisible mystic sign explains why an article, wholly unsuitable, is foisted on the jaded customer as 'just the thing.'
The suggests that (apart from a corruption of specific) it could be connected with the use of the word in that period to mean a or somebody smartly dressed (hence spiffy, and to spiff up - to improve the appearance of a place or a person), but nobody seems to have been able to disentangle the threads of which came first, or what influenced what, or where the word originally came from. Practice In 1936 Rex Stout used the word in Nero Wolfe's 'The Red Box' (Chapter 3): 'He stopped, smiling from Wolfe to me and back again like a haberdasher's clerk trying to sell an old number with a big spiff on it.'
In 1947 it was reported that spiffs were prizes given to employees who sold particularly high amounts of electrical goods. Further reading. Andris A. Zoltners, Prabhakant Sinha, Sally E. Lorimer (2008) The Complete Guide to Sales Force Incentive Compensation, Amazon.
F. Caldierero & A. Coughlan (2007) Marketing Science 26 (1) pp 31–51 'Spiffed-up channels: The role of spiffs in hierarchical selling organizations'.
CCI eBook, References.
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