Trend 1 - Top 5 B2B Loyalty Marketing Trends for 2021
We have reached that point in time when we sit back, relax, and reflect on our expectations for the upcoming year by gazing into our crystal ball. But, it feels different this time. Initially, all we could think was ‘Wow, did 2020 just really happen?’. Then we realised that, although a light is shimmering at the end of the Covid tunnel, what has happened is very much casting a shadow on what will happen in what hopefully will be the beginning of the post-Covid period. We know that things may never be quite the same and that we will have to define the new normal in so many ways. So, in that spirit, here it is, our vision of the future of the Loyalty Marketing space re-imagined, accompanied by actions we recommend to make this a reality in 2021.
1. One size will no longer fit all: programs need to pivot towards member centricity
If you are running a global program, like many of our clients do, you will have developed an eye and ear for differences in rules and regulations, T’s and C’s and compliance issues (e.g., point caps). And yes, you would be aware of cultural sensitivities and wide-ranging member preferences (e.g., cash vs. gift or retail catalogues).
If you are running programs catering to specific market segments, similar but slightly different challenges apply. At this time, you realise that in the face of the current predicament, B2B loyalty programs need to pivot towards member centricity. And the realisation that you can no longer use a one-blanket program design keeps you awake at night.
Moving into 2021, the good news is that we have a method that lets your members state their preferences on the design parameters of your program. In this way you can not only find out what is important to them, but also what the most effective program design is in circumstances where point caps are perhaps mandatory or when cash is not a reward option in a region. And you can apply this at market, country, or industry levels, quickly and efficiently, by taking members preferences, trade-offs and choices into account when developing member-centric variations on your program’s theme.
You can rest assured that with this new analytics service from Motivforce, based on choice science, you can offer your members the program that fits them best.
