ICM for Marketing and Advertising Industry
Marketing and advertising industries work with complex data and complicated sales crediting rules. What you need is an intuitive platform that can handle any data source.
1. Components of typical sales incentive plans
- ♦OTE Modeling: Provides sales reps a realistic view of their compensation when their expected goals and quotas have been met. It is generally the base salary and commissions from closed deals.
- ♦Ranking Reports: Enable businesses to understand their most profitable products and their top or underperforming salespeople across a timeframe.
- ♦Advertising revenue: Businesses earn their income through paid advertisements on their websites and social media channels.
- ♦Ads spend quotas: It is a limit to the amount of money spent on advertising campaigns.
2. Sales compensation challenges
- ♦Complicated crediting rules: Crediting rules determine who gets credit for the sales and how much of it. In simple businesses, the crediting process is straightforward as there would be fewer individuals working on a sale. In the complex organizational structures today, many individuals from different departments would play a role in closing a deal. The rules determine how much credit each person gets, and the corresponding incentive becomes complicated.
- ♦Multiple data sources: Data is often dispersed across the organization in many systems, such as booking and finance systems. It is nearly impossible to manually gain useful insights into this data to make recommendations and decisions.
3. Common data sources
- ♦Data comes from multiple sources such as Salesforce, Tableau, Hubspot, Oracle, and SAP.
Automate to simplify your sales commission calculations
Do you have multiple data sources for your campaigns? Do the complicated crediting rules bog you down? Then it’s time to automate and speed things up.
Think about the workforce you would need to crunch the numbers from all your spreadsheets, the time it takes to do that, not to mention the frustration that comes with errors.
Automate the task and let Kennect take over! Regardless of how massive or varied your data sources are, you won’t have to waste more time on spreadsheets. Kennect makes it effortless to import, enrich and transform all your complex data.
Increase transparency of commissions for your reps
Between the brands, agencies, resellers, and territories, sales crediting rules in marketing and advertising companies can get complicated.
With Kennect’s real-time visibility of data and commission statements, your sales reps are up-to-date with the deals they are getting credit for. This means complete transparency into their incentives and less time spent on disputes.
Generate actionable insights from sales comp data like never before
Kennect offers a centralized place for all your sales comp data to speed up reporting and reduce errors. Imagine having all the insights you need on aggregate commissions across products and territories, sales rep performance, ineffective sales commission plans, and more in one place!
Why Choose Kennect?
With Kennect, you can unleash the power of automation across the entire lifecycle of your incentive plans. Our 99.9% calculation accuracy keeps 35,000+ users across the globe on time and budget.