As Loop continues to evolve, our priority is to make business operations at multi-site organisations as streamlined as possible, driving optimal performance across the network. One major frustration we often hear regarding data management is:
“I spend so much time jumping from one tool to another collating the data”.
To address this, we continue to expand Loop’s features, giving you a more comprehensive way to manage your retailer network performance. In July, we released the first iteration of our Margin Programme, also referred to as an Incentive, Bonus or Reward Programme. By centralising margin data alongside your key performance insights, Loop can streamline your processes and help nurture your retailer relationships.
How can the Margin Programme improve your operations?
Key benefits of the Margin Programme:
- Centralised single source of truth
The Margin Programme seamlessly integrates into Loop as a bolt-on feature, allowing customers to visualise real-time bonus data alongside other critical business management metrics such as performance dashboards, scorecards, actions and surveys.
- Automation minimises risk from manual intervention
Results of the Margin Programme are created from gateways, which are directly linked to existing data within other Loop modules. Gone is the manual work of data compilation, instead automated notifications are sent to retailers informing them about milestones, reviews and finalised results, keeping them engaged and reducing errors.
- Enhances retailer accountability
Retailers can see their standing at any point, enabling them to clearly understand what is expected of them and take proactive steps to meet those criteria.
- Improve efficiencies and encourage a strategic outlook
Automation, as highlighted above, is key to saving time, freeing up Head Office to adopt a more strategic approach and respond to market challenges in a timely manner. Communications are also more streamlined as the tool houses messages, reviews and results, reducing back-and-forth on emails.
- Customisable results management
We understand that, on occasion, Head Office may need to override results; this process that can be completed within the tool, providing a full audit trail. Retailers can make appeals, and the progress and outcome of the investigation are recorded for full transparency.
- Simplifies reporting and analysis
Loop allows all margin-related data to be exported for analysis. Head Office can assess whether if the Margin Programme has been effective across the network and modify strategies or processes as needed based on results. The process is also quicker than the traditional method, meaning that retailers are recognised for their achievements more promptly, therefore making it more impactful.
Key features of the Margin Programme and how it works
- Self-serve to create margin programme templates.
- Customise templates for each participant as required.
- Templates can include participants at varying levels – for example retailers, groups, areas, regions and countries.
- Programme gateways can be added, meaning that participants must meet specific criteria before becoming eligible to enter the Margin Programme – once met the field will be tagged as unlocked.
- Once participating in the Margin Programme, progress is tracked and displayed, and users are allocated either a fail or pass status throughout the programme period.
- The view can be filtered to see active, upcoming and past programmes. You can also drill down the levels from this view and export results. This quickly identifies those retailers in need of additional support or encouragement should they be close to hitting their targets.
- Overviews include programme status, start/end dates, progress and when the results were last updated.
- Automated notifications are sent when a programme starts, closes, is under review and when results are finalised.
- Retailers can appeal bonus payments within the tool and the system provides a full audit trail of the investigation and outcome.
- As with all Loop’s other modules, the Margin Programme is available in 15 languages.
How do I find out more?
When we first released the tool we explored how Loop’s new Margin/Bonus Programme could streamline operational processes for automotive OEMs, from the perspective of different stakeholders across the network. Having listened to the frustrations of automotive OEMs in managing the constant cycle of administering bonuses, we realised the huge benefits of incorporating it into Loop. If you’re ready to see the tool in action and visualise how it could help your brand with real-life scenarios you can book a dedicated demo with the team.
For existing customers, the Margin Programme can be seamlessly integrated into your Loop platform, working hand-in-hand with your dashboards, balanced scorecards, actions and surveys. The combined power of the Loop modules ensures your organisation can work as efficiently as possible from a centralised viewpoint, reacting to real-time data to drive better business outcomes.