Data powers incentive promotions. A channel incentives and program management (CIPM) solution can help streamline accuracy and efficiency of the channel; however, challenges tend to arise if your data inputs aren’t standardized and clean.
The Benefits of Clean Data
Complete and clean data enables smooth program automation and workflows – such as safe validation of claims, simple auditory compliance, quick creation of micro target audiences, reward payouts, communications, participant registration, and more.
With the efficiency created by the program doing the heavy lifting, it affords program Admins greater time to apply their channel expertise to more strategic and valuable work.
WorkStride incentive programs share three key common benefits to clean data:
- Be in the promotional driver’s seat. Simply incorporate complex inputs and calculation rules on one or many promotions to better suit your specific audiences. Create specific program requirements or enable your own specific trainings, to that particularly underperforming Western region, to keep the ecosystem productive and engaged. Choose the strategies that best suit the audience, such as promotion type—for example, unit SPIFFs, Loyalty Rebates, and Top Seller contests—as well as reward options like Visas, Direct Deposit, and a Rewards Mall.
- Reduce fraud and errors. Due to the reduction of the human element, a software-driven solution will have a smaller margin of error than self or manual reporting. This helps ensure claims are valid, user registrations are authorized, and reward payouts are accurate. Gain control to setup your processes to ensure that claims are being paid out fraud free, with compliant auditory trails.
- Realize the true potential of your reports. See standard reports like your promotion summary, user, or sales submission report, along with other standard or custom ones to broaden your promotional point-of-view. Avoid tooling around with exports from CRM or ERP systems to see how your program is performing.
Is Your Data Clean?
These benefits of an efficient and streamlined program start with ensuring that data feeding into the program is clean and reliable.
Your channel data can include product SKUs, sales data, user and partner attributes, along with other historical program data. As an accessory to raw program data, also important is the math element, including promotional logic, registration requirements, and other specific program rules. These criteria flow through and interact with program data inputs – all building the data plant which powers your promotions. The program data is the fuel source (like wind, oil, natural gas, etc. is for electrical plants) for incentive promotions.
Before unleashing the power, ask yourself:
- Where is all your data coming from?
In which location(s) does the data that will feed the program rest? It could be in a centralized system, dispersed amongst separate partner systems, across numerous files, not generated yet (in the case of a brand new program), or a multitude of other locations.
- In what condition is your data?
Is your data dirty? Is it organized enough to be processed for fulfillment or ingested into a channel incentive program? Is it free of blank cells, duplicates, extra spaces, non-standard or inconsistent formatting, etc.?
- How will the data get into your program?
Through what medium(s) will your data get from its current restful state to its platform to use in your promotions. Examples include file exports, transfers, system integration (or even multiple integrations).
- How will the data interact?
When you blend your data with product, sales, promotion, and other inputs, how are you ensuring the pieces all come together to tell the story of who sold what, when, where, and how much to ensure program longevity?
- What specific inputs (behaviors) deserve a reward?
Once your data is live and producing outputs, configure your program logic to payout your intended user behaviors that will earn the greatest return for your program. Consider percentage rebates to partner loyalists as a “thank you,” or motivating SPIFFs to brand new partners to get them participating.