Running an In-Store Promoter Program is one of the most effective but at the same time most challenging aspects of Sales management. Having a knowledgeable and motivated in store promoter can go a long way in amplifying the sales from an outlet but in the competitive world of In-store promoters it is important to get innovative to drive retention and motivation.
But in-Store Promoter Loyalty Programs are a different beast as compared to other trade or consumer programs. There are a few things that need to be kept in mind while designing such programs so that they are successful.
ยท Elaborate Points Structure
Brands can exercise much higher...
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When run efficiently, trade loyalty programs become the primary tool through which pay-outs are made to trade partners. All non-margin payments such as schemes, incentives, rewards, etc are passed on through the loyalty program. This amounts to quite large sums of money being distributed through the programs. In this context it is extremely necessary to have proper checks and balances in the system. A few of them are highlighted below.
In the past insights we have delved into various success aspects of Trade Loyalty Programs. In this post we turn that over its head and investigate the major failure points of them. The following are the major points which are usually overlooked in the design and execution of loyalty programs. Getting these right is the foundation on which successful programs are built. Keep in mind that these are necessary but not sufficient conditions for the success of a program. 1. Poor Scheme Design This is the most important factor to be kept in mind when designing a loyalty program. There are various ways in which this can go wrong.
With the increasing penetration of internet usage in our country comes the growing comfort of the citizens with online transactions. This has led to a massive surge in gift voucher/card led transactions across the board. As loyalty programs involve making pay-outs to multiple parties at high frequency, gift vouchers have become the staple reward choice for trade loyalty/reward programs. While there are lot of benefits associated with gift vouchers, there are a few hidden challenges as well. In this post we cover the pros and cons of including gift vouchers as an option in your trade loyalty programs.
The various benefits associated with the...
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