PHD INSIGHTS ON SUCCESSFULLY ENGAGING YOUR CHANNEL PARTNERS
by Ivan Grisedale
Are you thinking; "do enablement & incentive programs build loyalty with Channel partners and resellers"?
If so then here are some key questions to consider if you're thinking about launching a B2B Loyalty Program or even how to re-engineer an existing one:
The first one is to ask yourself 'Is a loyalty program right for your business'? Like any marketing strategy, loyalty programs have a place and an ideal environment in which they should be deployed and managed.
Are we currently supporting our partners and what should we be considering?
You might then wonder if it’s a good idea to involve other vendors and 'what are the key benefits of a 'B2B Coalition'.
Amplifying the message internally through chat rooms, live chat, rating and feedback mechanisms as well as externally through Social Badging using the Open Badge platform may help you to understand 'why social media in your loyalty program increases ROI results'.
Thinking ahead, you might ponder thoughts around the best 'tactics to accelerate participation in your loyalty program' once you've arrived at the ‘threshold of engagement’.
Getting the balance right between the hard and soft benefits of your b2b channel loyalty program can be the key to its effectiveness.
When all is said and done, you’ll want to feel safe & secure in the knowledge that you have an “in tune” customer help desk to handle participant’s queries, comments, aspirations and…. complaints.
So if you already have a program that you've realised needs 'hacking'; a new approach is sometimes the best cure.
Motivforce is in line for a host of accolades over the next few months as we’ve been shortlisted for three high profile awards programs with our clients IBM, Lenovo and Celebrity Cruises.
Just in case you might have missed it; a wind of change has started to blow in the loyalty marketing landscape. In Europe the General Data Protection Regulation (GDPR) is about to go live and it marks a heightened privacy consciousness among businesses and their customers. And ultimately, we expect that the principles of GDPR will go global.
Even if you are not operating from the EU, it is not a bad idea to start reflecting on what the new model of data protection will mean for you and your program. Almost certainly, the bar will be raised and your program members will expect you to take your protection of their data to a whole new level.
So, are you GDPR ready? First off, the new privacy laws regulations are going to be complex and you definitely need to consult your legal team for expert advice (Disclaimer 1). But, there are several opportunities for loyalty marketing and programs on the horizon. Read on
This variation on an old Queen song came to mind when we asked ourselves a question that challenges one of the fundamental aspects of loyalty programs. Are those hierarchical program tier structures that group customers in different levels, depending on spending or selling pre-specified amounts, really the most effective design feature? Tiers foster feelings of status, depict various degrees of member loyalty, motivate people to keep their status and can easily be extended.
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.
What does 2018 have in store for the B2B loyalty sector? Our loyalty doctors have gazed into their crystal ball and are predicting greater transparency about privacy, more ‘loyalty hacking’, increased use of artificial intelligence (AI) to accelerate program members attention and interest (A&I) and more programs going local, not just in Acapulco. 2018 will also see a new era of ‘influencer loyalty’ via online reviews from proactive program members and more member-to-member live video streaming in a quest for personalisation. Programs will also see more effective loyalty cycle management so that they don’t become complacent about longstanding participants. You can read the full list of top 10 B2B loyalty program trends for by clicking here:
We’ve been pioneering the fusion of digital games with e-learning since 2006 so it’s good to see that we’ve been ranked among the top 10 gamification technology providers by APAC CIO Outlook Magazine
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.
Incentive travel has been seen as the ultimate incentive reward since the 1970's and 1980's when it really started to gain traction. The reason for its success is that it taps into our primal human nature, the adventure of travelling.
Humans have an adventure instinct to visit new places and to be able to do that as a reward is an incredibly enticing driver to achieve the required business outcome.
There has been a lot of debate in recent months about the most effective metrics to use when assessing the performance of a loyalty or incentive program.
To see the real effect of the power of loyalty and incentive program it is also recommended to use Confrere Analysis.
Loyalty and incentive programs are powerful tools. Used effectively they can generate habitual behavioral loyalty, increase sales revenue, decrease customer churn, increase share of wallet and limit variety-seeking behavior. Many of these results have been empirically tested in academic research and in award winning case studies.