Loyalty Goes Social
by Dr. David Cox
The concept of Social Loyalty has been growing over the last five years, but we predict that 2016 is the year when it will truly take off in terms of our clients.
The first steps were taken when loyalty and channel incentive programs began creating profiles and pages on Facebook and LinkedIn for participants to follow and ‘like’. Know Your IBM’s Facebook page for example already has over 2,000 ‘likes’.
Initially many companies and incentive agencies avoided this effective medium, as they felt they could not “control” the communication or feedback. Gradually they began to realise that participants and customers will set up their own unofficial Facebook and social media forums to discuss aspects of your loyalty program, product or service. As a result many companies now realise that it’s is better to be part of the conversation with a chance to participate than be left out.
Today’s leading programs have expanded beyond a presence on Facebook, Twitter or LinkedIn and have built internal collaboration and exchange through communities within the construct of the program via general chat rooms, live chat, rating and feedback mechanisms and special interest forums.
One of the latest innovations has been to embrace Social Badging using the Open Badge platform. This platform allows companies who operate loyalty and incentive programs to issue ‘badges’ for résumé-worthy achievements such as sales performance, skills development and collaboration.
These badges can then be shared and displayed via a participant’s social media presence such as LinkedIn or Facebook thus extending the footprint of the loyalty program and harnessing recognition from a wider audience – friends, family, colleagues and prospective employers can see their success. Further, these badges can also be used to earn accelerator or bonus points as well as a proxy for status tiers within a program.
In programs where Motivforce has deployed this concept, we have seen a dramatic increase in participant performance and a return on investment.
Social media is one of the most absorbing tasks that individuals undertake on a daily basis. Indeed for Millennials, their life is built around their social media habits. Thus savvy program designers are looking to leverage this existing infrastructure to drive their own programs.
In an age where clients are talking about the need to increase engagement with program participants, the fusion of social loyalty with existing tools such as effective communications and the right reward mix, is proving to be a powerful combination.
A common element of any loyalty and incentive program – whether simple short-term promotion or multi-faceted channel marketing program - is the need for an “in tune” customer help desk to handle participant’s queries, comments, aspirations and…. complaints. Whilst the latter is something we all try and avoid, resolving complaints satisfactorily is essential to the success of a program as most participants, particularly the highly-engaged, are often the sponsor firm’s best customers.
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?
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Getting the balance right between the hard and soft benefits of your channel loyalty program can be the key to its effectiveness. Dr. David Cox - CEO writes why soft benefits are the key to keeping participants loyal to your program.
Our Loyalty Doctors have drawn up their list of Top 10 B2B Loyalty Program Trends for 2017. Augmented reality, Chatbots and cognitive computing will all enter the channel loyalty program arena; so too will sales incentives and the Internet of Things. For the full list read on..
Have you ever wondered why points used in a loyalty program? and how many points should you award your B2B loyalty program participants?
Check out our Five Point Plan for setting the value of a reward point:
Motivforce has rounded off 2016 by scooping a hat trick of accolades at the recent B2B Marketing Awards in London in recognition of our work with the Lenovo LEAP channel loyalty marketing program.
In January 2016 we predicted the top 10 trends that B2B loyalty marketing would witness during the course of the year. But did we get it right? Let’s take a look back ….