Channel partner relationships flourish when brands send the right message to the right participant at the right time. That level of personalization requires channel managers to have access to data that matters. Setting up an intentional data collection strategy directly benefits channel partner engagement, enabling:
- Tailored incentives based on partner performance
- Communication strategies aligned to participant preferences
Why does personalization matter?
As humans, we all want to feel understood and recognized. In our recent research on sales incentive programs, 80%+ of participants said personalization in a program was highly important to them and their program engagement. The sense of connection people desire doesn't just happen.
Channel programs need good data to understand participants, further develop partner relationships and generate brand loyalty. Launching an intentional data collection strategy protects program health, while also identifying areas for improvement.
Related: Learn how one of our data-driven incentive programs drove participant satisfaction and decreased turnover risk
3 common data collection challenges (and how to start addressing them)
Channel data can get messy, especially when there are complex indirect routes to market. That frequently means lots of partners and limited visibility into program data further down the channel. Organizations often struggle to create an impactful incentive program when they don’t have a clear plan for collecting, managing or using their partner data. A “one-size-fits-all" approach isn’t enough to create an engaging participant experience.
Most data collection challenges fall into three categories: how much to collect, how to address regulatons and how to get started.
1. Brands building new programs often get stuck in the earliest stages by under- or over-collecting participant data without a set strategy for how to use it.
- If they undercollect, they can’t create a complete picture of their audience.
- If they overcollect, they don’t know how to parse out what’s most important to act on. (Longstanding programs often struggle with this as well because over time they accumulate a high volume of disorganized information, dispersed across the enterprise.)
2. The ever-evolving regulatory environment, growing concerns about data privacy and changing internal policies add to these challenges, affecting how brands:
- Collect reliable data with limited resources
- Work around outdated channel partner program systems
- Filter inconsistent or inaccurate data
- Deal with channel partner data silos
3. When program leaders feel too overwhelmed trying to sort through their data, they often stop before they really get started developing their data strategy.
The best way to start addressing all of these? Analyzing your existing data collection sources, processes and technology for gaps is a great first step toward improving data-driven decision-making.
Related: Learn straightforward solutions to four common data gathering challenges.
A case against one-size-fits-all channel incentive programs
After identifying program gaps, focus on segmentation goals. For example, when our Fortune 100 insurance company client wanted to reach its 40,000 independent agents, a revitalized segmentation strategy and multiaudience incentive technology platform delivered. Personalizing the experience helped it scale, resulting in more independent agent sold policies.
In this example, the personalization helped agents:
- See their progress
- Know what action to take next
- Keep earning for both sales and non-sales behaviors
The program expanded beyond independent partner agents to additional audiences, including career agents and call center employees. Operations teams monitored their activity to start building what would later become five core segments: bronze, silver, gold, platinum and ambassador. Each segment promotes agents’ progress and inspires them to unlock new rewards at each level.
Customizing rewards to reach multiple audiences and encouraging low and middle performers will help your program reach its full motivational potential. And insurance isn’t the only industry where personalization matters. Manufacturing, automotive and other sectors realized results after adopting data-informed segmentation strategies.
Related: 5 examples of how to add personalization into your channel incentive program
Channel partner engagement begins with an intentional segmentation strategy
How do you segment channel partner data effectively? Start by defining clear partner segments and map the participant journey you want to create for each. Don’t do everything at once. You can improve the strategy as you go.
Several data points to segment by include:
- Partner role
- Region
- Performance tier (e.g., top performer, middle performer, low performer)
- Program tenure
Identify the data available to start optimizing the participant experience (versus dwelling on what data you’d like to have). If the latter isn’t currently available, determine how you can collect it and work it into your long-term data strategy. Once applicable segments are defined, initiate the participant journey for each by tailoring program goals and desired behaviors with relevant messaging, incentives and rewards.
Every channel partner incentive program is unique, but segmentation benefits a multitude of industries by helping “move the middle." Top performers are already loyal to your organization and have limited room to increase how much business they do with you. Middle performers have more room to grow (and there are more of them), so identifying and motivating them to do more with your brand can have a massive impact. Segmenting your data to focus on this audience, and tailoring your program to their needs, will boost your program’s success.
Related: Data highlights point-in-time partner engagement trends and the progress each partner has made on individual program goals
Leveraging channel incentive partner data to personalize promotions
Setting up an intentional data collection strategy is just the beginning. Next comes data analysis and data application. Moving data out of a CRM repository or spreadsheet used to be tedious work, but new technology has optimized the process. It can quickly connect data to determine targeted promotions and and launch timely communications. There’s so much more your data can be doing to help your organization and your promotions reach new levels of success.
Ready to do more with your data? Learn how to get and use channel partner data effectively.