Built an incentive program model for a technology giant to optimize their spend and maximize the ROI.
The Business Challenge
The client is a Fortune 50 multinational technology giant & the worldwide leader in software, services and solutions. They have a learning group within the organization that is responsible for designing, creating & driving sales of training assets related to their technology products in the market. The learning group does have a marketing budget to run marketing campaigns & programs for their partner community to drive sales of training assets. The learning group wants to design an Incentive Program that optimizes the marketing spend on training assets & maximizes ROI.
The TurnB Approach
- TurnB identified and extracted relevant data elements from the Client’s database and checked its accuracy.
- An exhaustive list of factors is identified and hypothesis were formulated.
- Each hypothesis was tested, and exploratory analysis was performed on them to analyse certain patterns in the sales data which eventually helped to forecast sales.
- The team designed a model using Python which assimilated dynamic fields to input quantity thresholds/rebates and estimated incentive pay-outs and revenue.
- Key metrics were identified and developed a Power BI dashboard to track the performance of the program.
- Monitored the performance of incentive program on a fixed cadence and suggested course corrections as needed.
- Significant sales lift was achieved.
- Increased customer satisfaction.
- The learning group is now able to take proactive course correction measures due to timely tracking of incentive program performance.
- Existing skills gap was gradually reduced around emerging technologies in the market.