Six Key B2B Loyalty Program Traits for Maximum ROI Impact

The reason more companies choose to employ rewards programs is because they deliver terrific ROI (return on investment) when structured and operated properly. Here are six key program traits for Maximum ROI impact.

1.   Sound Offer Structure. Plan your offer structure so it makes sense for your economics; the more valuable the sales outcome for you, the richer you make the associated reward value for your customer. Use reward tiers, graduated to reward your best customers at a higher rate than customers of lesser value.

2.   Program Awareness. Tell people. Get as many customers to sign up as possible; the program can’t influence them if they aren’t involved in it.

3.   Ease of Use. Make it easy for your customers/prospects to join the program; offer some sort of “welcome” bonus to get their attention and take a moment to sign up.

4.   Sales Team Involvement. Introduce a companion reward structure for your sales team, designed to ensure they encourage as many customers/prospects to sign up for the program as possible.

5.   Ongoing Engagement. Don’t use short duration programs; they are hugely inefficient; plan an ongoing program that encompasses both short term and long term sales objectives and create limited time and/or ongoing reward offers tied to these objectives; your customers will be able to accumulate more rewards and be increasingly influenced by the program.

6.   Program Visibility. Keep your customers in the loop about their reward status by sending out a monthly reward email that includes their reward balance; be sure to communicate new bonus offers tied to specific sales in these emails as well. A good reward program is a valuable sales tool, providing added account coverage for smaller accounts and more leverage for your sales team when they call on bigger accounts.

If you want to learn more contact me as I would be happy to help.