I have a confession: when confronted with too much data, I used to glaze over, turtle and wait for the storm of numbers to pass me by.
At 360, it has been useful learning to view huge data sets in smaller, easy-to-digest, bite-size bits.
By this point, everyone who works in a large enterprise has heard the promise of big data, wondering what it means for them and their job. For channel marketing professionals, the data means something different to everyone within an enterprise. I realize that on this blog we speak a lot about fraud detection and what data sets may mean to people in finance so today, let’s have a look at some data from the dashboard of a regional sales manager (RSM).
The above screen grab is a generic view of a dashboard for a hypothetical RSM of an appliance manufacturer. This particular view shows sales results by SKU and by dealer filtered to show just the top five. If you look in the left-hand column, the RSM can also choose a view all the way down the channel: dealer groups, by dealer, by sales associates or by programs.
Having quick access to this information helps the RSM do a better job in a few different ways:
1) Top Guns
As an RSM, empirically knowing your dealer information is necessary for incentive success.
Once you identify these people, you can better leverage your top person in each dealership. Get to know them, keep them happy and find out what makes them sell your product above all others. How can you empower them to sell more? How can you empower others to be more like them?
Real-time analytics help you determine whether or not you are over or under budget for your campaign. This data allows you to invest budgetary surplus to underperforming areas. Besides being nice information to have, this data keeps you nimble in the sense that it frees you up to move additional budget into areas which may be under-performing. Plus, if you see that you are not spending your budget that brings us to point number three.
3) Am I Achieving My Goals?
This is always the right question to be asking with any marketing campaign. Sometimes as marketers (myself included) we may be guilty of having too much fun at work. Sales incentives such as spiffs and rebates make up such a huge portion of most manufacturers’ marketing budgets and it is critical to stay goal-focused on all campaigns. Nothing helps you stay focused more than having real-time analytics at your fingertips.
Keeping an eye on the people and dealers who are in the lower end of your sales metrics creates opportunities for you to help those people do a better job. After all, when your dealers are doing well and their sales reps are moving your product, everybody wins. Detecting people who are substantially below the sales curve does not mean you should be ignoring these people or spending less effort on marketing to them – on the contrary it creates an opportunity for you to offer additional sales tools, perhaps in the form of training or special offers which are limited only to those dealerships. Is there anyone in your data who is due for a visit from you, their regional sales manager?
As I mentioned above, the use of data varies widely across a single enterprise and we are always interested to see how our clients are harnessing the data from their channels to improve sales and build ever-more engagement with their partners and dealers.
Kevin Martin is a Sales Channel Incentive Specialist at 360incentives.com. Connect with him on LinkedIn right here.