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Ready to dive into the dynamic world of B2B marketing and loyalty?
Our blog is a treasure trove of knowledge, waiting for you to uncover. Discover thought-provoking articles, hidden gems, valuable insights, expert strategies, and data-backed trends. Explore our latest insights on B2B loyalty, incentive rewards, and innovative strategies to drive business growth.
Is Your B2B Loyalty Program Losing Members?
It’s a bit of an understatement to say that the global pandemic has caused challenging trading conditions for a lot of businesses. Lockdowns have meant drastically reduced or zero product sales. Customers have become less motivated to buy from you and are more cautious about their spending. And if your company runs a loyalty program, the knock-on effect may well be that program members have given up on it.
After a period of dis- or even un-engagement, cancellations, and plummeted sales figures, it is time to reconnect with your B2B loyalty program members.
How to use rewards to drive incentive and loyalty program success
‘How can rewards be used to drive effective loyalty programs?’. Answering this question, we once again turn to member psychology in relation to rewarded behaviour.
During the past decade, as loyalty programs have come to terms with analysing Big Member Data, it has been consistently observed that members increase their spending after reward redemption for a short period of time. This is part of the Motivational Cycle. So how can you use this cycle to your advantage?
Cash v Experiences
Cash vs Experiences - Building meaningful and longer-term connections with customers through loyalty programs is an essential strategy for brands to survive in crowded marketplaces with little differentiation and low switching barriers. Rewards offer opportunities for unique relational positioning.
Rules of engagement - How to design loyalty program rules
There are lots of different reasons why a B2B loyalty or sales incentive program may not deliver the results you are looking for. You could be targeting the wrong type of participant, or maybe the level of rewards isn’t worth the effort of taking part.