While many companies run loyalty programs in one form or the other, only a few run them in an organised manner which would maximise the engagement of all parties concerned. Among them only a handful companies close the loop of Loyalty Programs by using real-time dashboards and analytics. This post dives deeper into these dashboards and explains how they can help in better execution and utilisation of loyalty programs.
Loyalty Programs, by their nature, are built on the most important data for any organisation. Their base is always rooted in the transaction data with the most important trade partners/customers. While other systems may act as sources of data, it is only in Loyalty Programs that the long tail of data is deleted, and each piece of data can give valuable business action points. Analysing the data related to loyalty programs cuts out the clutter and noise of all the irrelevant data points and therefore looking at company performance from the prism of loyalty programs is important.
The basic dashboards that can be built using Loyalty Programs data are as follows.
- Overall Sales Trend – cuts by Geography and Product
- Overall Trend of Billed outlets – cuts by Geography and Product
- Overall Trend of Lines cut in an outlet – cuts by Geography and Product category
- Overall Trend of Average Bill Value – cuts by Geography and Product
- New Product Launch Trackers
- Secondary vs Tertiary Sales trend – By combining the data in cases where there are multiple loyalty programs running at different levels of the supply chain
- Sales Team Leader board
- Outlet-wise Sales history
- Non-productive outlets
There is no end to the dashboards that can be imagined using the data and each organisation has different requirements when it comes to these. But the ones in the list tend to be most important based on our experience.
While all the dashboards can be useful for everyone across the chain, the last two are especially powerful when the frontline Sales team has access to them. Those two can directly be involved in a Sales call and can lead to much better talking points making the call more productive. They can also help plan the day, especially in the peak time of month/quarter/year closure. And with the increasing penetration and usage of smartphones, these dashboards can be made available on mobile/tablet too through mobile compatible websites or custom designed apps.
By giving role based access to various member of the organisation data security and confidentiality can be maintained. For example, Mumbai Area Sales Manager should not have access to the data of Kolkata. Everyone in the Sales team can have access to the data of only those outlets which fall under their purview.
If you want us to help you in running your loyalty programs more effectively while giving you visibility to the business trends of your most valued partners, please fill the for in the following link and let us reach out to you.