In August of 2021 we launched a new midstream offering in Wyoming. The goal of this new offer was to influence stocking practices of distributors and allow them to carry more efficient products and also keep more of them on hand for counter sales. In order to reach this goal a portion of the incentive is paid directly to the vendor and after the sale the customer can apply to collect the remaining incentive. Paying the distributor an incentive is done in order to encourage them to sell efficient products, have wiggle room to run promotions on efficient products, and also to help offset the carrying costs of stocking efficient products.
Like any change there is a lot of work that goes into the transition on both the program administrators and participants. On the distributor side, sales reports must be created and formatted correctly in such a way that all the required information is passed over as part of the application. Much time is spent going back and forth at the start to make sure that the report is how it needs to be. The good news is that once the report is built, the next time around it can be as simple as hitting a button to generate it for the next month. Then in return the distributor receives hundreds or even thousands of dollars in incentive funds. It’s a very good return on investment for those vendors that have taken the time to participate. We will continue to get more distributors on board and continue to help influence stocking/sales practices to get them to maximize available incentives.
If you are interested in participating in the new midstream offer please contact your outreach coordinator for more information.