Keys To An Effective B2B Loyalty Program
When we hear the words "loyalty program" traditionally B2C gift card programs come to mind. However most businesses, whether they are B2C or B2B face the challenge of engaging customers in repeat purchases, increasing spend and driving referral business.
"When we began considering a loyalty program we realized that we were trying to drive the same behaviors with our business customers as our individual consumers," says Mike Moeller, President of Remy Battery.
- Avoid perception of bribery
- Consider benefits to the business rather than the individual
- Include multiple points of contact (ensure continuity with employee turnover)
- Realize that small businesses (owners) think more like consumers than large businesses
These challenges can result in different types of planning than with a B2C loyalty program. Much like with a B2C loyalty program research into the B2B clients's needs and wants mitigate the aforementioned challenges. Email surveys can be used but may not yield enough detail for the development of program. Phone surveys and/or focus groups will provide more detailed insights but do not require more time and financial resources.
Other significant benefit to B2B loyalty programs is the acquisition client data to be used in marketing campaigns, marketing research, sales prospecting and CRM systems.
Want to learn more about how loyalty programs can help grow your business? Call us today at 800-287-7198 or email us at inquiry@bungeeloyalty programs.com.