Measuring Incentive ROI is the holy grail of successful sales promotion campaigns. Before embarking on any sales incentive, setting meaningful benchmarks that assess the broader impact of the incentive across the entire organization is key. The issue is usually what benchmarks and methodology to consider. Two widely used methodologies are: 1. Experimentation using a control group 2. Historical data analysis on select variables before and after the incentive.
While a bit old, this published paper dives into a success story using the second methodology with some specific tactics and benchmarks to use.
Please link to our website and register for more information on Hawkeye's Reward center, which includes a Scenario module that enables ROI driven sales analysis of future promotions to be completed in real-time. Use Hawkeye Rewards to limit your financial exposure, calculate future ROI on past sales behavior and manage ongoing incentives.