Does any of the following sound familiar;
- You currently have an underperforming b2b customer incentive program that you are looking to scratch
- You are just about to create your business’s first-ever b2b incentive program
- You have poor experience running b2b customer loyalty programs and you are just about to start all over again
Whatever the case may be. I will show you just how to create effective reward programs in this article, but here are a few ingredients you need to pack in sufficient quantities to benefit from this freemium post.
What You Need To Do A Good Job With This Incentive Program
Put your focus on the right thing
Matters of this nature require a certain amount of funding to bring the dream to life, but instead of setting your mind on how much it will cost, set your eyes on the benefit that awaits your company if you successfully pull this through.
Create a positive user experience
The b2b incentive program should be friendly for the target users to want to try it out. You should not be hyped about monetizing every part of the reward program. For instance, it should be absolutely free for your customers to register. Make the process personalized for each customer so that it feels human and not robotic —What you get when you opt for a one size fit all b2b incentive program.
A diverse range of rewards
The point of incentive offers is to increase customer engagement with your brand. However, it does not necessarily imply that the rewards for doing this must be your company-branded products all through. If that is the case, it gives the customer a Deja Vu feeling that you are overselling. The resulting impact is the customers are more skeptical about your offer.
Got that, right?
Now, let’s see how we can create successful reward programs with your b2b incentive program initiative
How To Create An Effective Customer Incentive Reward Program
What’s your goal?
Why are you investing in an incentive program in the first place? To increase repeat purchases by existing customers? To get referrals? To get amazing reviews and testimonials from customers?
Decide your goal with this program then…
Create a strategy
You need a plan on how you will achieve your goals. Are you going to automate it? Are you going to develop your own software or pitch with a 3rd party? These are questions to consider in your strategy.
Avoid greediness
The actions you desire from the participants of the b2b loyalty program must be justifiable with the reward set in place. Customers would feel used if the obtainable reward feels cheap and as such the program may fail to achieve the desired result.
Invest in promotional activities for this b2b incentive program
You need all the hype, promotion, and shout-out you can possibly get to drive the attention of your target to this reward program. Lack of awareness is a fast way to a failed incentive program.