Sales incentives are powerful for brands. They motivate sales associates to talk about their products and sell them to customers. This extra push goes a long way!
In this article, we will uncover how to run an efficient, impactful and successful sales incentive campaign.
Before diving into the solution, let’s start by looking at each step of the process and how they are currently managed.
Current Situation
The first thing brands should do, but are currently unable to do, is set clear goals for their sales incentives. These goals are essential to determine if the campaign is successful, but because of a lack of visibility, brands cannot track their goals and know the results of their efforts.
Once the details of an initiative are confirmed, brands need to communicate to frontline employees. Usually, rep teams are heavily relied on to share this information. As second-hand information is spread to the store network, it can often lead to delays, misunderstanding and poor campaign adoption. Brands should be autonomous!
Once sales associates are informed about a campaign, brands need to manage the operations. Are the posters up in stores? How many sales associates know about it? Will they keep the receipts and submit them properly?
It is the current and problematic situation for brands wanting to run incentives. Now, what is the solution?
A platform designed and engineered for brands to launch and manage sales incentives. Let us tell you about ENDVR.
Solution
ENDVR is a digital platform made to drive real-world sales. It enables brands to boost their in-store sales and customer acquisition through sales incentives campaigns (amongst other things).
On the ENDVR dashboard, organizing and launching campaigns is simply done by building “missions.” Step by step, all the campaign information needed is pulled together on the platform as the mission is built.
Once launched, the campaign immediately reaches the phone of every sales associate in the brand’s targeted stores.
With ENDVR, the management of sales incentives is extremely smooth. Brands have real-time visibility over every entry that frontline employees make, and they can approve or reject them. ENDVR can also do this verification for brands with Premium Review.
Whilst live, and at the end of the campaign, brands can access the exact results and ROI, anytime and anywhere through the custom brand dashboard. This allows brands to track the return on every dollar invested.
The dashboard gives a complete overview of how much revenue a sales incentive drives and what the best-selling products are. Equally, there is full visibility of the brand’s retail network, where they can track the performance of regions, key accounts, individual stores and retail associates.
Most importantly, it allows brands to see if their sales incentive goals are accomplished.
So, here’s a summary of the steps with ENDVR:
1. Determine Your Objective
What does success look like for this initiative?
2. Create & Launch Your Incentives Program
Create your mission, being guided the whole way. Launch it when it’s ready and reach sales associates immediately.
3. Manage Your Program
Consult your dashboard to know how things are progressing. Verify and validate each entry, or let ENDVR take care of that part.
4. ROI & Analysis
Your dedicated ENDVR account manager will make a campaign analysis and make recommendations to refine your next campaigns. Together, you will also look to see if you hit your goal. This way, you are sure to make the most out of the ENDVR platform.
Conclusion
To run an efficient, impactful and successful sales incentives program, brands need to be autonomous and have access to every relevant metric. The organization and management need to be simple.
ENDVR is a platform that makes it all possible, while saving brands time and improving their results.
Take a look at their website to know more.
