Economic recovery from the COVID-19 pandemic will be a long process, and companies are still learning how to navigate the new context in which most of the world finds itself. Companies will benefit from having things like rebate programs that build loyalty with existing customers.
Though they are a valuable factor in driving continued patronage, rebate programs often live on spreadsheets or outdated, back-office ERP systems. For companies wanting to automate program tracking, provide one source of rebate data to stakeholders, and enable access to relevant channel partners and employees, cloud-managed services like Salesforce can help with that. Salesforce recently launched its rebate management solutions to help companies move away from the spreadsheet hell. With Rebate Management, businesses can efficiently build and scale incentive programs, while also nurturing trusted channel partner relationships. Here are some more reasons why adopting Salesforce Rebate Management makes sense for companies.
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Rebate Programs Are Visible Throughout The Company
A company using Salesforce cloud products can integrate Rebate Management software in their processes. These integrated applications can support companies that belong to network-reliant industries like consumer goods providers and manufacturing. With integrations, various departments can track channel partner sales using the same CRM system that account managers use to track other activities. Insights from these places can transform how a company handles rebate programs, making it more transparent.
Typically, sales teams do not have insight into the refund qualification status of customers. The sales team can have a comprehensive view of a channel partner's participation in the program, including real-time insights. With rebate management capabilities, sales officers can look up channel partners to gain visibility into recent transactions and what it would take for customers to secure larger payouts.
Encourages Channel Partners To Use Company Programs
A channel partner will have access to the company portal, enabling them to view the same cloud-managed services that the company does. The partner can monitor their progress towards earning rebates, their overall program history, and the payouts for which they qualify. For example, an auto parts distributor can access the manufacturer's partner portal every month to see if they can qualify for the rebate. They can also see how much money they have saved so far or check the payout from the previous month. Simplified tracking and transparency in profitability can help in establishing trust.
Allows Customized Rebate Programs
With Rebate Management, a company can automate, track, and scale rebate programs. Businesses can use historical data to predict how much value channel partners will get, track payouts compared to overall revenue, and study a program's performance across regional markets. With these capabilities, companies can tweak program refunds easily. They might add or remove refunds, customize offers, and find other ways of making their programs more attractive to channel partners.
Allows Automation Of Program Review And Payout
With Rebate Management automating the review and payout process, businesses reduce the chance for human error. The use of software also ensures timely, transparent payouts and frees up finance team members to do more complex tasks. Also, with Rebate Management, a company can customize the rebate program parameters to fit their needs.
Cloud-managed services like Salesforce have technologies like Rebate Management and loyalty management etc., enabling companies to reimagine their customer incentive programs. Whether the business prefers monetary payouts, point-based redemptions, or a combination of these, online software and tools can help develop better relationships with channel partners and drive more growth.
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