How Do You Know Your Sales Incentives Are Working?
Today’s process of providing sales incentives can be challenging. From the sales person’s perspective, filling out a bunch of paperwork is just another aggravating job, keeping them off the retail floor. In addition, it can be a lengthy process to get claims validated, to the extent that by the time the sale representatives receive their funds, they’re not thinking of it as an incentive anymore; they’re thinking, «Yeah, it’s about time!»
For any type of incentive to work, the turnaround time needs to be fast, reinforcing the selling behavior your brand is looking to reward.
From a brands perspective, the problem isn’t just a matter of convenience; it’s a perplexing business challenge. Brands can spend tens or sometimes hundreds of millions of dollars on a program and still have difficulty answering a few simple questions:
- Who are the SPIFFs going to? (i.e. the individual rep, and how many SPIFFs that representatives claimed)
- What products are associated with the greatest number of SPIFF claims?
- When are SPIFFs most effective? (i.e. quarterly programs, weekly or daily SPIFF campaigns)
- Where are the SPIFF dollars being spent? (i.e. region, territory, dealer/reseller)
- How much does the SPIFF need to be in order to have the desired effect? Is the amount the same amount for every region?
The 360insights SPIFF Module will help you extract meaningful insights from every single SPIFF transaction run through our Channel Success Platform. We give you the ability to confidently answer the who, what, when, where, why and how’s, along with the power to influence sales at the most critical inflection point: the retail floor.
See The Difference
Real-time dashboards and a variety of reporting options allow you to watch how your programs are performing. Our platform’s flexibility will allow you to measure your effectiveness and make program changes on the fly as more data becomes available. The insights you uncover from your claim history will help you work your way up the data stack from «What happened?» to «Why did it happen?» and, the ultimate visibility question: «What will happen next?»
Build Connections That Matter
As a digital leader, we will provide you with your own online branded portal, not only making claim submission simple and easy, but also accelerating claim redemption. Your portal will give you unprecedented communication directly with your sales representatives – from notifications about new product launches, programs and training to wishing them a “Happy Birthday”.
Here are a couple remarkable ways our clients harnessed this increased engagement:
- A client started using survey tools in their portal, offering a fifty dollar sweepstakes to sales associates who would fill out the survey. They got over 800 respondents from the first one!
- With our easy to use tools and technologies, a client was able to properly communicate with a channel that is often disconnected, enabling them to effectively execute targeted messaging directly to their channel and gain credibility with sales reps.
100% Audit = 100% Effective
Why waste money paying out claims that are invalid, duplicates or flat-out fraudulent? Gain access to industry first processing technology to achieve accurate and meticulous claim verification through our 100% auditing of all incentive claims. Your claims are digitally verified and payouts are expedited through digital funds, ensuring that data is inputted correctly and that sales associates qualify for a SPIFF.
With 360insight’s validation engine, you know that your spend is going toward supporting your business goals.