Incentive programs have traditionally been tough for tire manufacturers to administer due to lack of time, experience, or employees to manage the program and measure its ROI. Online incentive technology has made it easier to operate incentive programs and measure their performance. Not only that, they can be used as channel data management tools that help you collect tire sales and customer information to improve sales strategies and increase revenue. Here’s how it works:
Sync incentive and channel data management technology.
You’re likely already using software that collects and/or manages tire sales data—CRM, marketing automation, inventory management, and sales enablement systems all collect different types of information about your sales and customer base. Sales incentive programs can contribute unique information about your dealers’ and end-customers’ lifestyle, demographic, and interests.
None of this data does you any good if it takes your teammates ages to find, export, and interpret it. For that reason, integration is an integral (see what I did there?) channel data management tool. Partner with an incentive program provider that provides integration technology and services to sync your program with your existing sales tech stack.
Enroll new B2B buyers.
An open enrollment module is a direct channel data management tool that requires little to no monitoring. With an open-enrollment sales incentive program, any of your customers can sign up for your incentive program, be they a distributor, a counterperson, or end-customer. Provide a registration form that has no barriers to access and prompts enrollees for the information you need for more effective sales and marketing initiatives. You can even sync the incentive program directly with your corporate website so it’s as easy as possible to find.
Reward sales data submission.
Online claims upload and verification technology uses a six-step process to help you capture sales data and reward counter sales reps:
- The counterperson can scan a receipt with an incentive app that has intelligent character recognition (ICR) technology.
- The ICR technology recognizes your product in the receipt.
- The manufacturer uses claims verification software to validate the sale.
- Incentive software distributes a pre-sent amount of reward points to the counterperson.
- The counterperson receives their reward points instantaneously, to be spent in an online rewards catalog with millions of items.
Instant rewards with personal value give distributors and counter salespeople much greater motivation to promote products, aftermarket services, and supplemental or high-margin items from your brand.
Engage and motivate channel partners with incentive marketing campaigns.
Marketing content related to sales rewards has a higher engagement rate than standard marketing campaigns. Think about it: would you be quicker to open an email about the rewards you can earn with your current point balance, or an impersonal referral request? Studies of incentive marketing show that incentive-related emails can be up to 400% higher than non-incentive marketing emails. This creates ideal conditions under which to gather sales and customer data. Your distribution channel partners are more likely to submit information when they’re engaged in a positive brand experience.
These days, a sales incentive program that’s no more than a vehicle for rewards is behind the times. With advanced, versatile online incentive technology at your disposal, you can create a program that acts as a sales training platform, channel data management tool, and sales motivation plan all in one.
