What-if? Simulation Supporting Recognition Program Design

What-if? Simulation Supporting Recognition Program Design | MKT Analytics
An insurance and wealth management company was looking to restructure its incentive and recognition programs after having spent many years with the same template that featured over a dozen different ways opportunities for recognition and rewards. One challenge was to create a design that would expect to boost sales performance while staying within the same budget guidelines as prior years. 

Another was the two main product lines created net revenue in vastly different ways. 
MKT Analytics conducted a thorough analysis of overall sales performance, program performance, individual salesperson product mix, salesperson reward attainment across multiple programs and staffing trends over a five-year period. The output was a versatile, comprehensive What-if? simulator that allowed a planner to: 

  • Expand or remove programs 
  • Vary program time frames 
  • Change earning and attainment thresholds 
  • Set different thresholds based on salesperson tenure 
  • Input forecast assumptions for sales growth by product line 
  • View expected numbers of programs winners and overall ROI