Switching from a Low-Cost Incentive Plan Vendor Delivers Proven Results

 

CHALLENGE

To drive sales and grow brand loyalty, a multinational pharmaceutical and life sciences company decided to offer incentives to their distributor sales reps. They initially chose a low-cost vendor to execute their channel incentive program. After announcing the program to the channel, however, they discovered that their low-cost vendor was unable to deliver an effective solution. The pharma company needed to find a vendor that could quickly take up the reins to design and implement a program that would engage channel reps, fulfil rewards on time and ensure compliance in a highly regulated industry.

SOLUTION

ChannelAssist was asked to step in. They designed a channel engagement program that would increase rep performance and brand loyalty, and ultimately drive sales, while ensuring reporting compliance for taxable earnings. To secure rep buy-in and trust, the ChannelAssist program communicated rewards achieved and ensured that reps received those rewards, by setting up auto-fulfillment directly to reps from an outside data source and bypassing the distributors. Using reloadable reward cards, the program also ensured that reps received compensation on time, had full visibility and participant support, plus the added flexibility to choose their own rewards.

RESULTS

Switching from the low-cost vendor to ChannelAssist paid off for the pharma company. They have been rewarded with increased sales, resulting in a 33% growth in program earnings in each of the last 2 years. The program also launched with full regulatory compliance in less than 6 months. With 95% of eligible reps registered and a 99% payout rate, the program’s reloadable reward card maximizes satisfaction and sales focus by solving the challenge of distributors keeping rep monies.

 

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