Voluntary executive learning is an important element of many B2B loyalty and channel programs. Indeed the cost effectiveness that the digital revolution has offered to program sponsors allows for the deployment of online e-learning modules quickly, covering remote geographies and in multiple languages.
Whilst the digital revolution encompassing online platforms has heralded a new age in corporate learning, the advancement in learning structure and content has not moved at the same pace.
Gamification is the use of game-play mechanics for non-game applications and it has grown in popularity as a loyalty program tactic. Indeed, when used effectively digital games have achieved fantastic results.
Equally, there have been numerous examples where the gamification execution has failed to deliver. This can be extremely problematic for businesses as the financial investment and staff resources required to design and deploy gamification can be considerable.
The top three reasons why gamification tactics and campaigns failing to deliver the desired ROI have been identified as:
Loyalty and incentive programs attract, motivate and reward your best customers and there is no doubt that they can be very powerful marketing tools – their success has been well documented in industry case studies, academic literature and loyalty marketing awards programs.
Your best customers are the ones that listen to and respond to your loyalty promise. But delivering on that promise is highly dependent on structuring an effective program. All too often loyalty programs fail to deliver their promise not only to participants; they also fail to meet the high expectations of senior management.
Thus, to deliver on the ‘spectacle’ of a loyalty program, it’s vital we work on the ‘science’ behind it. Here are 8 key elements to applying this science.
One of the growing challenges facing all loyalty practitioners is how to drive higher levels of engagement. Traditional methods such as bonus points and bespoke communications, whilst still effective, are losing their impact, particularly when competitor loyalty programs are also engaging in these tactics.
In today’s markets company success seems to depend increasingly on the capabilities of their business partners. The proliferation of online courses and just-in-time knowledge available through mobile is prompting organizations to pay attention to innovative modes of instruction. Yet, we often see that too many enablement programs focus on the wrong content. When we point this out to clients, we invariably get asked the question ‘But how can we design programs that link to our strategic channel priorities?’ Here’s input for starting that very strategic conversation.
The development of online education modules continues to be a growth market for Motivforce. While we keep expanding our enablement portfolio with some of our accounts in conjunction with the latest social loyalty tools (such as gamification), others are simply all about business partner learning. We often get asked to come up with a convincing business case that outlines how clients will start earning by learning.
We think there are four key benefits, all with direct important bottom-line implications.
Over the past 20 years, the structure of B2B loyalty programs has grown from simple sales incentives that reward for achieving sales targets to rewarding for profile performance. Profile performance is the concept of creating the ideal participant profile and rewarding for all behaviours that a participant demonstrates in adopting this profile.
There are many variables to consider when creating the ideal channel loyalty program participant profile and these are broadly classified into the following 5 types of loyalty program participant profiles:
Our research has shown greater loyalty (measured by sales and other valued added behaviours) amongst program participants who are active in enablement tasks, compared to those who are not. In looking at correlations between those participants who have undertaken enablement tasks, versus those who have not, we have observed three traits....
A term that we commonly use in channel loyalty and incentive programs is the effort advantage ratio. This is the study of consumer loyalty programs and the effort a participant must undertake to achieve a loyalty program reward and how this effort impacted on attractiveness of the loyalty program for their continued participation.
These are 7 things to consider when weighing up the Effort Advantage Ratio.
Technology is now defining the route which companies need to take in order to stay relevant and is changing at a rate so fast that organisations and to some extent, society is struggling to keep up.
And whilst digital transformation can start with the introduction of new tech, business transformation is inevitable, which can mean a complete overhaul in a company's products, positioning and ultimately, business goals.
How does your company approach enablement with your resellers and is your incentive strategy driving the right performance behaviours?
Business Partner Loyalty. 10 questions you need to consider.
Think of yourself and your company as a Sherpa and the role you play when it comes to ensuring your business partners achieve their goals:
- Are you prepared to help your partners navigate through challenging business conditions?
- Do you understand their strengths and weaknesses?
Personal development is recognised as the most effective way in which business relationships with business partners can be nurtured. And while business schools are having trouble to keep pace with these developments, this is presenting a very bright business future for online enablement. It is proven that certified business partners sell more...
Most companies have come to realise that offering online education modules continues to be an important driving force in establishing successful channel partner relationships. At Motivforce R&D, we often are asked to come up with a convincing business case that outlines how clients will start earning by learning, simply by making the switch to online enablement. These are the four key benefits on which we think such a case can be built: