What role do incentive and reward programs play in your business?
I currently operate 0-1 loyalty initiative(s) for my customers and manufacturers.
I currently operate 2-4 different loyalty initiatives for my customers and manufacturers.
I currently operate 5+ different loyalty initiatives for my customers and manufacturers.
How do the program(s) support your business?
The program(s) are driven by audience-wide objectives.
Right now, the program(s) are primarily relationship-based—there aren’t really any defined objectives tied to them.
The program(s) feature defined, participant-specific goals that aggressively target audience-wide objectives like sales, loyalty and profit.
How do you manage your program(s) administratively?
I use custom technology that tracks, measures and analyzes the data my program(s) produce.
It’s a manual process—spreadsheets, pen and paper—that sort of thing.
It’s a mix of manual processes and automation—my CRM/PRM, inventory management software and logistics management tools help me house the data.
How much visibility into your overall profitability do your program(s) offer?
The data they generate provides a crystal-clear picture of which products, customers and channels are most profitable.
They give me somewhat of an idea, but I could benefit from a more detailed view.
How much emphasis do you place on communicating the program(s) to your partners?
I don’t have any communications specifically dedicated to the program(s) but do my best to promote them using other avenues.
I implement a highly strategic campaign throughout the year—strong branding, a mix of print and electronic communications, timely messaging—to ensure I’m maximizing the impact and optimizing the profit.
I officially announce the program(s) with dedicated communications—beyond that, it’s mainly word of mouth or as-needed updates throughout the year.
How valuable are your program(s) to your channel partners?
I honestly don’t know.
I think they view them favorably, but I can’t say definitively.
My program(s) are a big part of the reason my manufacturers and customers continue to do business with me.
How useful are your program(s)—and the data gleaned from them—in driving strategic business decisions?
Somewhat useful—I sometimes consult the data if I need to fill reporting gaps, for example.
Not very useful.
Very useful—the data is a key driver of decisions related to things like my sales and marketing strategy.