Coupon Centralization: 4 Ways to Increase Speed and Accuracy in the Ever-Changing Coupon Space

Coupon Centralization: 4 Ways to Increase Speed and Accuracy in the Ever-Changing Coupon Space

Coupon Centralization: 4 Ways to Increase Speed and Accuracy in The Ever-Changing Coupon Space


https://blog.passkit.com/Rapid change is common in the coupon space, and some brands have been struggling to keep up. This is the greatest era for technological development, and advances like digital promotions have given companies the tools to execute faster than ever before with complex market analysis. If this is your reality, there is a solution: coupon centralization or implementing a Center of Excellence (COE).

 

A COE is a centralized team that can be structured as an internal, external or hybrid solution. The COE team is focused on reducing complexities and ensuring operational excellence in this omnichannel era. By streamlining your processes to make them faster and more efficient, businesses can reduce risk, increase agility, improve speed to market and save money.
 

Below are 4 COE best practices:Center of Excellence

  1. Defining Best Practices and SOPs
    The COE should drive stewardship and governance for coupon execution to prevent fraud or over-redemption.  Try partnering with coupon suppliers to monitor live offers, optimizing the program in real time.
  2. Hyper Focus on Accuracy/Error Reduction
    Companies need to adapt quickly to increasingly savvy consumers, as well as retailer nuances and limitations. Even so, it is possible to consistently deliver all coupons to market with 100% accuracy through discipline and rigor. 
  3. Offset Added Digital Complexity
    By putting an emphasis on efficiency and simplification, process complexities can be reduced resulting in operational efficiencies and additional dollars to the bottom line. Through challenging the status quo, one pep COE was able to streamline the purchase order process, eliminating more than 20 hours from the workflow. This allowed more time and energy to be focused on strategy and simplifying work for the client, supplier partners and pep.
  4. Leverage Technology
    Digital coupons have given rise to new challenges, like stacking, UPC tagging and mobile rebate tracking. Moving from a manual excel-based workflow to an automated technology focused approach will save time and reduce risk to your budget. Our clients leverage pepconnect, a marketing management and procurement tool, to obtain transparency and insights with their volume and spend. 
     

You can’t put the genie back in the bottle. Coupons will continue to move digitally and grow more complex. This makes it even more crucial to establish a COE to enable speed, adapt on the fly and execute with accuracy.  Strong infrastructure, processes and staying well informed on latest trends will make this possible. 

 

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Allison Precht
Client Manager


For more information on coupon centralization, contact us: info@peppromotions.com

 

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