How do you build loyalty with business customers?

We all have a fairly good idea on what will motivate a consumer, but we are often asked how to build loyalty with business customers. There are a number of other factors to take into account when dealing with business customers:

1.    Ethics/ law

2.    Taxation

3.    Motivating factors

Part 1 – ethics and law

Your starting point should be looking at any contracts, laws and code of conducts that are in place both with the company and through your industry body. Public Sector and many corporate contracts will often specifically prohibit or limit personal rewards. Also many bodies like the FCA will have rules around incentives that you should adhere to. The Bribery Act 2010 also has some provisions and public sector employees are also covered by a separate act which makes any personal award highly problematic.

 Next, you should always ensure that any participant gets the business owner or their line manager’s permission to take part. If you make sure you align your goals with those of the business then this generally shouldn’t be a problem.

 You should also consider whether the reward is proportional to what you are asking them to do – for example a £10,000 family holiday for giving you a company contract would not be but a chance to win a £10,000 contract for being the highest reseller of your products may well be. A reward should be seen as to add extra impetus rather than simply buying business.

 Next week I will cover taxation – but if you have any specific questions raised by this post please do not hesitate to contact me