Channel marketers believe that having greater insight into their incentive programs can help to optimize their results. That’s one of the key findings of a survey conducted by IDG Research for 360insights, the Ontario-based provider of software-as-a-service solutions that automate incentive programs.
The heavy-lift processes associated with incentive programs not supported by end-to-end marketing technology solutions make them difficult to manage, respondents said, and even more challenging to monitor. As a result, only one third of the respondents described their spend across incentive programs as optimized. Fewer than 40% of those queried in the survey said they get anything more than basic outputs from what little analytics they employ.
Channel marketers said they recognize the value that automating incentive programs can provide. More than 80% agreed that the visibility gained from end-to-end, customer data analytics would reduce waste in channel marketing spend. Better integration between vendors, partners and sales agents would drive more purchases. Fully three-quarters of those surveyed said that providing an improved through-to-customer incentive experience could help to generate a positive brand experience.
Other benefits that marketers agreed end-to-end incentive solutions provide are:
Brad Matsugu, senior product marketing manager at 360insights, said the results of the directional survey emphasize that technology needs to be at the forefront of incentive and channel management strategies.
The full report can be accessed here.