Built an Incentive Program Model for a Technology Giant to Optimize their Spend and Maximize the ROI

Business Challenge:

The client is a Fortune 50 multinational technology giant and the worldwide leader in software, services, and solutions. They have a learning group within the organization that is responsible for designing, creating and driving sales of training assets related to their technology products in the market.

Even though the learning group had a marketing budget to run marketing campaigns and programs for their partner community to drive sales of training assets, they approached TurnB to design an incentive program that optimizes the marketing spend on training assets and will in turn maximizes the ROI.

TurnB Approach:

We identified and extracted relevant data elements from the client’s database and checked its accuracy. Following approaches were used:

  • An exhaustive list of factors was identified, and hypotheses were formulated
  • Each hypothesis was tested and exploratory analysis was performed on them. This helped in analyzing 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 payouts and revenue
  • Key metrics were identified and a Power BI dashboard was developed to track the performance of the program
  • We monitored the performance of the incentive program on a fixed cadence and suggested course corrections as needed

Implications:

Following were the outcomes after designing the incentive program model:

  • Due to time tracking of the incentive program performance, the learning group was able to take proactive course correction measures
  • There was a significant sales lift
  • Customer satisfaction was increased
  • Existing skill gaps were gradually reduced around emerging technologies in the market