{"id":838,"date":"2022-12-30T13:41:15","date_gmt":"2022-12-30T08:11:15","guid":{"rendered":"https:\/\/www.biworldwide.com\/en-in\/?p=838"},"modified":"2025-03-26T21:16:35","modified_gmt":"2025-03-26T15:46:35","slug":"behavioural-science-channel-partner-engagement","status":"publish","type":"post","link":"https:\/\/www.biworldwide.com\/en-in\/our-work\/blog\/behavioural-science-channel-partner-engagement\/","title":{"rendered":"Behavioural Science & Channel Partner Engagement"},"content":{"rendered":"\n
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\n\t\t\t\tBehavioural Science & Channel Partner Engagement\t\t\t<\/h1>\n\t\t\t\t\t\t\t\t\t\t
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Elevate your channel partner engagement with behavioral economics. Explore proven strategies like goal-setting, framing, and rewards that drive sales and performance. See how BI WORLDWIDE\u2019s expertise can transform your loyalty programs.<\/p>\n\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n

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Putting Behavioral Science at the Core of Your Channel Partner Engagement Strategy<\/strong><\/h2>\n\n\n\n

Sales leaders no longer could ambiguously build resilience strategies based on mere speculations and observations. The need of the hour, is, to delve deeper into the science of human behaviour to pull the strings together. Now, businesses are gearing up to build and present their channel partners with engagement programs that impact business results \u2013 incremental sales, ROI, market share, and satisfaction.<\/p>\n\n\n\n

While conventional economics suggests that people are prone to make rational decisions when they are offered multiple choices, the reality is that 70% of humans are heavily biased and emotional while making decisions. This is where behavioural economics helps profoundly, as it draws on psychology to assess what drives humans to make emotional decisions and why their behaviour fails to follow the predictions of economic models.<\/p>\n\n\n\n

BI WORLDWIDE India has complied with some of the proven engagement strategies implemented across fortune 500 brands in India and globally leveraging behavioural economics while designing channel and sales incentive programs.<\/p>\n\n\n\n

Choosing the right promotion tactics to drive incremental sales<\/strong><\/h3>\n\n\n\n

There are numerous promotion options that you can opt for to encourage your channel partners and sales teams. One of them, Sell X Get Y, could be a simple SKU-based promotion offered at the time of each purchase and sale or achievement of a target. This tactic of assigning fixed targets proves beneficial in encouraging sales professionals to focus on overall incremental sales and garner substantial results.<\/p>\n\n\n\n

Another promotional strategy is to provide them with the choice of self-selecting their goals, which they believe to be achievable. This not only makes them feel closer to their goals but also helps them align it with external factors of motivation, like rewards. This approach, also technically termed the Goal Gradient theory, suggests that people are more likely to work harder and feel responsible to meet their numbers when they start walking on the path of achieving it. Ultimately, this results in incremental sales, which come from the middle and bottom layers of channel partners and not just the top-performing partners.<\/p>\n\n\n\n

Engagement nudges to drive specific behavioural outcomes<\/strong><\/h3>\n\n\n\n

A simple nudge does not necessarily guarantee an action. Therefore, engagement nudges play an important role, especially to drive specific behavioural outcomes. Know more about these nudge principles and techniques:<\/p>\n\n\n\n