How WorkStride Reporting Can Help Fine Tune Your Incentives Strategy
When it comes to running a profitable channel incentives program, your campaign plan and the digital tool you use to keep it on course need to go hand in hand.
Without today’s technology, it would be nearly impossible to track the variables of such sophisticated campaigns to gain full understanding of which elements should be adjusted for maximum profitability. But with a highly capable channel incentives and program management (CIPM) platform like WorkStride, even companies with the most complex channel incentive programs can automatically record, collect and parse the key data they need to evaluate how their sales of products or services are performing under various elements of your plan.
Of course, your campaign platform of choice also plays a major part in the level of engagement you maintain with key partners—an element that can’t be overemphasized in today’s competitive business environment. Whether your platform is working on your behalf to offer training materials, send messages with new product information, or dole out earned incentives, it should play a major part in helping you build stronger partner relationships that foster greater collaboration and better trust—and ultimately help drive your sales train forward.
WorkStride offers the ability to customize incentive campaigns however you wish. Choose the rules, timelines, incentives and other variables most likely to drive sales from a range of different partners. The platform’s advanced audience segmentation features allow you to define and separate key customer groups so you can pinpoint which ones are responding best and least to your campaign strategies. That lets you invest more marketing dollars toward the target audiences most likely to listen to your messaging, buy/sell your products, and grow your sales.
As the platform measures the rewards being redeemed by your partners, you have real-time access to the details and can fine-tune the amounts you must spend on incentives to produce significant changes in selling behavior. That keeps you from overspending and helps you set optimal budgets for future incentives campaigns.
WorkStride’s reporting functionality has a number of benefits:
- It lets you respond nimbly to sales opportunities that may be attached to a time element. For example, if your campaign reports show you’re moving product quickly in a certain area due to weather conditions, you can immediately enact our Promotion Builder tool to expand your campaign and optimize those sales before the demand goes away.
- It can work in conjunction with your other tools, extracting their unformatted data and reformatting it into graphs and charts that provide additional valuable insights into your sales.
- It can measure participation in and completion of your sales training modules, then track participants’ sales performances to determine whether the training seems to have impacted their success.
- It can help you identify (and respond to) partners that are bound to underperform no matter how much they’re incentivized to improve sales.
Interested in seeing for yourself how WorkStride can create invaluable insights into your sales strategies? Contact us now to set up a free demo of our platform in action.