In today’s world, consumers are continuing to evolve their purchase habits and are dictating more of the sales process. From big box department stores to the auto showroom, sales associates are feeling the impact of highly informed, bargain hunting consumers. In response, companies are implementing powerful incentives that motivate consumers to buy their products and help sales associates hit their targets.
There are two processes that are critical to incentive-driven sales: Those that support collaborative partnerships across the sales team, including channel partners, and automated processes that make payouts for promotions fast and easy.
According to SAP, collaborative sales processes can increase profit and revenue across networks. That’s no small success when profit margins in many markets, including OEMs, are decreasing each year. One way to increase profit margins and revenue is by communicating the right insights, information and incentives, and these must be pulled from all of your channels, not just one.
Communicating cross-channel and multi-device data from your customers to your partners is a critical step in increasing their effectiveness. Channel managers can empower their partners by tying this data to information that helps market, sell and connect with target customers.
Incentives, when delivered by a platform that makes claiming rewards fast and easy, can be a powerful tool for motivating and aligning channel partners around sales goals. We see this in the automotive industry where implementing a powerful platform that lets channel partners and consumers submit and track promotional coupon claims drives partner motivation and customer satisfaction. When that same platform enables real-time tracking, customized promotions and in-depth analysis, cross-channel collaboration can become a reality. The result: channel managers and brands get a competitive advantage.
If you’re ready to learn how cross-channel collaboration and a digitized incentive program can support channel partner success, talk to a Marketing Innovators expert today.
Sources:
SAP: “Vehicle Sales Management.” 2013.
Shopvisible.com. White paper: 6 Best Practices to Promote Cross-Channel Collaboration Strategy: “Cross Channel Integration in Retail & Creating a Seamless Customer Experience” 2012.
Strategy: “Cross Channel Integration in Retail & Creating a Seamless Customer Experience” 2012.
