Is your B2B customer experience missing something? Do you need to find a way to pull ahead of your competition? Last month, we identified some warning signs that your B2B customer experience leaves something to be desired, pushing customers into your competitors’ arms. This month, we’re focusing on what you should do about it: create a B2B incentives program that increases customer retention and B2B loyalty. Here’s our step-by-step guide!
Research your channel partners and your competition.
Research your competitors’ B2B incentives or customer loyalty program.
- What type of program are they running?
- What behaviors are they rewarding?
- What kind of incentives rewards are they offering?
- What is their rewards payout structure?
Research your B2B customers and channel partners.
- Study their purchase history.
- Understand their pain points.
- Track them on social media.
- Target your communications to their interests and needs.
Partner with the right B2B incentives program provider.
- Partner up with an incentive company that specializes in B2B loyalty programs.
- Make sure incentive program reports are included in your set-up costs—don’t pay for every report you want to run!
- Check if B2B loyalty program evaluation is part of the deal. You should be able to analyze and strategize with your program provider.
- Ensure your incentive company understands your business, marketing objectives and sales goals.
- Ask questions! Find out if they really understand how to help you achieve your business goals.
Offer the right incentive rewards.
Use “the Big Three” rewards wisely:
When to use online rewards (aka online points programs)
- Offer to Large, diverse incentive program audiences.
- Offer to customers you want to keep for the long term.
- Offer to customers who don’t spend much, who can be motivated by “low-hanging fruit” rewards like movie tickets.
When to use debit card rewards
- Offer for short-term sales promotions.
- Offer to international participants.
- Offer to practical-minded participants, who would rather spend rewards on necessities than luxuries.
When to use incentive travel rewards
- Offer to VIP customers—those whose loyalty it’s essential for you to invest in
- Top performers, those who contributed the most to your revenue
Align your B2B incentives program goals with your sales and marketing goals.
Integrate your B2B incentives program.
Integrate your program with:
- Your corporate website or intranet
- Your customer relationship management (CRM) software
- Your marketing automation platform
Promote your program!
- Market your incentives program. Channel partners won’t participate if they don’t know about it!
- Allocate 10-20% of your loyalty program budget for marketing and communications.
- Go mobile! More than 70% of interaction happens through mobile devices.