The B2B practice is one of the most successful business systems if handled correctly. Here, two businesses or organisations are in a commercial transaction-based partnership. So, you need to maintain good relations with your B2B customers. These include dealers, distributors, wholesalers, and other channel sales associates.
One of the best plans you can use is the B2B channel loyalty incentive program, where you reward your customers. This makes them want to maintain a long-term relationship. Some of the incentive types include rebates, cash, free or discounted products, etc.
Top 10 Ways to Use B2B Channel Loyalty Incentives for Effective Marketing
This program is good for building customer relationships, but you need to put in the right effort. You can take up the following methods of applying the channel loyalty incentives to better market your brand.
- Customise B2B incentive programs
You should keep in mind that your B2B customers are business owners themselves. And they have to deal with their own goals, tests, and motives. So, when you create a business reward program, you have to plan one for each customer individually. They want personalised experiences anyway, and they stay loyal to those who meet their expectations.
You need to research well and ensure that the plan you use would give your B2B customers the best value and least risk. After that, they would purchase more from you since they trust your business to care for them.
- Focus on building trust and transparency
B2B programs are generally more relationship-oriented instead of focusing on fast-paced marketing and sales. So, you need to concentrate on building clearer communication with your B2B customers and earning their trust. When they see and believe you can benefit their company, they would work with you more.
You should offer them incentives like rebates, discounts, etc., and explain your program’s rules and conditions in detail. So, an honest and clear discussion would help you grow your partnership for longer.
- Offer attractive incentives
To be honest, who does not like free things? Indeed, when you have companies as customers, they would appreciate it if you send those gifts or special rewards. They would feel that you care about your relationship with them and feel better about working with you.
You can also provide other perks like free trials of unreleased products, exclusive event invites, or private access to upcoming features. As a result, the customers would maintain a better relationship with you to receive more premium rewards in the future.
- Increase warranties, registrations, and post-sales services
One of the incentives you can give your B2B customers is rewarding them if they give add-on services to their end-customers or increase warranties for them. Plus, they should offer free similar products too.
So, when you make the registration process and product protection as incentive-earning possibilities, it helps your channel partners. Indeed, it promises to the customers that your brand would help them if their purchased products are defective. All these improve customer relations.
- Develop a mobile incentive program
Currently, everyone is on their mobile devices, even companies. So, you should create a non-complicated B2B incentive program in a mobile app version. Make sure to simplify the steps and information you add, and the companies can take part in your program more easily.
And also, you can offer incentives to the customers who download the app. The other customers would want to get this reward, too, and would take part in your mobile app program.
- Educate channel partners on your offers
While you are pursuing a company to become your channel partners, chances are that other companies are pursuing them too. Even after one becomes your B2B customer, they may have better offers from your competitors. And at the moment, they are looking at both of the options. So, check out the ‘Affiliates’ section of your competitor companies to see what terms they are offering.
These include things like their commission rates/percentages. Therefore, after doing proper research, you can inform your customers about why your offers are better. And you can give them higher incentive percentages, too, judging the market scenario. Never forget to mention your offers in detail to your channel partners from the beginning.
- Create content around your customer’s success
Most businesses want recognition, and you can give it to them through features. So, make case studies or other such features to promote your customer’s works. Not only do some of them directly publish such case studies on their blogs, but also you can feature them on your testimonials or newsletters. Furthermore, you can share on your social media too, and they would further share that with their followers.
- Start a tier-based rewards system
To be fair, among your many customers, it is obvious some would give you more benefits than others. These high-value customers may best meet your bottom line and expand your margin by referring you to others. So, you should offer higher b2b loyalty to them, and forming a tier-based reward system would help.
Here, the best sales strategy is ABM or account-based marketing, which calculates how each customer affects your business using their data. Then, it gives incentives based on their value, the more premium ones for high-value customers. Seeing this, other customers would also work harder to gain top-tier positions themselves.
- Making Channel Partners as Your Brand Advocates
Word-of-mouth recommendations are a great way to promote brands, and your channel partners can do that. They can suggest your brand to their customers. You need to gain your B2B customers’ favor first. And giving them personalised rewards and offers would help. Then, they would advocate your brand more.
10. Keep your business partners up to date
You should always inform your B2B partners about new products, certifications, and security policies. Training them and the sales rep well would help them inform the end-customers better too. As a result, you would get brand loyalty and repeat business.
If you give good incentives, more companies will partner with you. So, consider these tips carefully.