Whether we meet people at a trade show or through other connections, one of the first questions we are asked is, “Why offer a rewards program?” or “What will a loyalty program do for my company? My line of business is B2B.”
For most people, their experience with a rewards program is limited to their personal participation in a frequent flyer program or a loyalty program offered by their grocer, coffee shop, or gas station. The level to which they are engaged or whether the program is well run is debatable, and it is unlikely that the participant has ever considered the reasons the merchant started the reward program in the first place. They look at the program from the perspective of “what’s in it for me,” not what the business owner gets out of it.
To move your B2B business forward, having a strong relationship with your customers, sales team, and distribution network is key. Maintaining that loyalty with your target group is a proven method for growing and sustaining market share.
Simply put, a loyalty program can help with a multitude of issues, results, or activities that your company may encounter in its line of business, whether you:
- Sell a product or service
- Have competitors
- Spend money on advertising or any other form of marketing
- Offer discounts or don’t want to offer discounts
- Wish to introduce new products or services
- Want to motivate an in-house sales team
- Want to motivate distribution salespeople who sell their products
- Want to educate salespeople about new products or services so they can sell even more
- Want to be paid on time
- Want to keep existing customers
- Want to attract new customers
- Want to sell more products or services to existing customers
- Want to increase average transaction sizes
- Want to increase the incidence of selling higher-margin items
- Want to sell product bundles
- Want to increase the number of product categories sold to the average customer
- Want to understand the sales impact/ROI of a $1 spent on marketing
Every one of the activities above can be influenced using a well-structured and professionally administered customer reward program.
A loyalty program needs to be simple to access and participate, relevant to your industry trends, and appealing to your audience. And one size does not fit all. That’s why Lift & Shift works with you to build a program that suits your needs.
Lift & Shift loyalty programs are flexible and results-oriented, and we know how to operate a program to obtain your desired results.
When we meet with you, we will ask you to create a list of your top 10 corporate objectives, so we can begin the process of structuring the design and focus of the reward program to help attain those goals. Next, we structure offer values that are designed to impact the desired target audience’s behavior. Then we administer the program, so it is top of mind and does the job you intended.
Why do you need a B2B loyalty program? To drive incremental sales, add new customers, increase retention, and improve average customer lifetime value. Let us help you get started!