BI WORLDWIDE India | Motivate Channel Partners with Rewards that Really Matters at the Time of Crisis

Motivate Channel Partners with Rewards that Matter at the Time of Crisis

A compelling rewards program for channel partners is an integral component to drive sales and beat the competition by having your brand at the top of mind among your partners. From rewarding aspirational merchandise to offering luxurious travel options, brands had been doing everything they could to engage their channel partners.

However, this story isn’t that rosy anymore. In the last few months, mankind has witnessed one of the biggest crises that is challenging every aspect of human intelligence and existence. COVID 19 has brought unprecedented times for everyone. From layoffs, pay cuts, production halts, and even closures - the business environment has not witnessed such a deluge before. Businesses all over the world are evaluating multiple courses of action to cope with this new reality and ensure that they rise back.

Re-inventing Rewards at the Time of Crisis

In such challenging times, reward program designers around the world will have to demonstrate a significant shift in strategy - A strategy that keeps partners at the core and addresses their states of mind. While luxury experiences and exciting merchandise have scientifically proven to be more effective in creating hedonic experiences and driving productivity and performance, this time-honoured approach will have to be looked at with a different lens - a partner perspective lens.

Here are 4 novel ideas that will help brands rise up with relevant rewards

#1 Shift from aspirations to needs

With the entire world moving upside down in the era of physical distancing, people refraining from going to malls, shut-down of schools & movie halls, people have been pushed off their routine and are struggling to get the basics in place. Expand your reward catalogue with need-based offerings such as work from home kits including lamps, tables etc; groceries and sanitary kits. Programs that are able to offer such options will stand a good chance to be remembered as a thoughtful brand by the partners.

#2 Unlock the world of entertainment

Another by-product of the lockdown is the struggle to manage the abundance of time one has in hand. The worst part – the more the time, the more the panic and the worse the pandemic! It is important that as a brand you step up and focus on the mental well-being of your partners. While there is nothing much one can do to make the virus vanish (apart from staying put at home!), there are many things the brand can do to help partners stay calm and battle each day as it comes. Provide your partners with avenues to some great subscription services in the space of entertainment such as movies, songs, E-books and games that will engage them and instil a sense of peace in the midst of this crisis.

#3 Promote Excellence

Brands can also look at this period as an ideal time to empower their partners with skills and knowledge beneficial for the business. Providing access to premium courses on popular E- learning platforms would help partners make the best use of their time and invariably bounce back better equipped to perform.

To add to that, it is a perfect time for brands to wear the ‘empathy-hat’ and wonder what else would be running in the minds of the partners. With schools shut, most children are at home and lagging back in their academics. Brands can step in and provide access to kids-educational packages that can be redeemed through reward points. Now just picture your partner when he/she sees a thoughtful offering such as this!

#4 Give and Get them To Give

As a brand, you might already be working on ways to utilise your CSR budget in areas that will help the world battle the Coronavirus pandemic. Even at an individual level, every one of us is making contributions towards various not-for-profit organisations to do our bit for society. Providing avenues for your partners to utilise their reward points against causes that would help us collectively fight this battle will give them a sense of great fulfilment. Moreover, utilising points mentally bucketed for pamper/pleasure in areas of social impact would leave your partners with a sense of pride.

COVID19 has caused emotional-crisis more than anything else. When your program allows your channel partners to redeem what matters the most to them right now, they will remember your brand like no other. Moreover, when they use reward points to purchase essentials, entertainment, educational packages or donate for a cause, they will have a feeling of assurance of 'un-touched savings' that they could reserve for future scenarios.

While the current situation is temporary and possibly businesses/programs will roll back to the original time, it is important for all brands to re-look at their Rewards strategy right now. A strategic shift in gear will also help organizations go a long way and help establish them as a caring and responsible brand. Brands that can quickly adapt to such situations and offer thoughtful solutions will emerge as clear winners.