The past three years have changed how we do business. And as a sales leader of a business-to-business (B2B) company, you're expected to develop a sales plan that will drive net sales growth, despite any hurdles.
No matter how you measure growth from the prior period (quarter over quarter or year over year), it is imperative that your sales plan employ sales tactics that will deliver optimal revenue growth regardless of the external influences beyond your control. Sales are still happening, and you need to ensure you get your share.
Customer loyalty is key to increasing channel sales. For any B2B company, now is the time for decision makers to revisit sales strategies and implement a robust growth-based customer loyalty program that helps with your sales process automation.
B2B reward programs (such as year-end rebates or dealer trips) have been around for a long time, but advancements in data analysis and communication technology have resulted in modern B2B reward programs becoming one of the most effective and cost-efficient ways to grow sales and deliver unparalleled sales ROI.
Reward program benefits
An
incentive program is a great way to increase loyalty and channel sales from B2B buyers. Consider the following reward program benefits:
B2B reward programs are highly measurable
A B2B loyalty program leverages your customer data to drive growth
Growth-based B2B reward programs are remotely operated and a key part of sales process automation
How Lift & Shift helps clients grow sales
We segment your customers
We develop sales goals and objectives for each customer segment
We create a reward offer matrix
We deploy highly targeted reward offers to your customer segments
We measure your program-related growth and ROI
Using our clientโs previous year(s) sales data, we track variations in spending by both reward and non-reward customers. In aggregate, across many programs, we see that reward customer spending tends to dramatically out-pace non-reward customers.
One pandemic-related impact on program measurement has been the need to use normalized sales data as much as possible. Given the wild sales swings many companies have seen over the past few years (good and bad), we will often introduce the idea of using pre-pandemic data as a benchmark for post-pandemic sales targets. In doing so, program results are not as skewed by volatile market conditions.
Using the incremental sales and available margins delivered by participating reward customers, we can easily deduct the related reward costs to ascertain a clear program ROI. And because we employ offer values that reflect the available margins, program ROI is always excellent, and the increased profit from the incremental purchases by program participants pays for the costs of the reward program many times over.
If you are looking to deliver improved sales growth and a higher profit on your income statement,
reach out to us and we can show you how a growth-based B2B rewards program will do just that.
Lift & Shift offers a powerful B2B reward platform that can help your company leverage its sales data to drive incremental purchases with customers and channel partners or motivate sales staff. We work with manufacturers, distributors and service providers to analyze sales data, identifying purchasing gaps and other valuable targeting opportunities.
We create and deliver highly relevant offers to customers, in-house sales staff or sales associates, motivating your target audience to respond, using a wide array of appealing reward options as influencers. Our performance-based reward structures deliver an unparalleled return on investment, with absolutely no wasted budget.
Our customizable reward platform enables clients to easily benefit from a robust loyalty reward program. It's affordable and includes Lift & Shiftโs turnkey professional program administration. We take care of everything so you can focus on your key initiatives.
The Ultimate Guide to B2B Loyalty Programs
This article is part of a series covering how growth-based loyalty programs can elevate sales and company profits by incentivizing current customers to spend more, attracting new customers with appealing rewards, and motivating your sales team.