Increased sales, improved brand recognition, a better reputation in your sales channel and business-customer loyalty are just some of the benefits of implementing a B2B engagement program.
If you’re not reaping these rewards, then your engagement incentive and rewards program needs a pick-me-up.
We take a look at some winning strategies that improve B2B customer engagement.
1. Continuously monitor customer satisfaction
You can’t implement strategies to improve B2B customer engagement without knowing what your existing customers think, so monitoring their satisfaction is crucial.
Don’t just do this when their purchases slow down or completely stop. Do it at key points throughout the business relationship – every quarter, after their first month of purchases during your incentive program, when they receive their first program reward, and so on. This will allow you to see if their level of engagement changes and what may affect it.
2. Segment your customers
Your sales partners and customers will have different levels of contribution to your business. Whether that is in terms of moving volume or budget contribution.
Consider offering each segment different rewards when implementing an incentive program. Each segment will be enticed by different rewards. Someone who has done a lot for your business would naturally expect some reciprocity in the relationship.
Rewards need to be commensurate to their efforts. Tailor your program to each segment.
3. Touch base with disengaged or lapsed customers
It’s easy to focus on engaged customers, but don’t forget to get in touch with those who haven’t purchased your products or services in a while. They might have simply forgotten that you’re around! You will be surprised how many lapsed accounts or customers engage again when reminding them you’re there.
Offering an incentive to do business with you again or activate their accounts will make your business stand out from your competitors, who stop giving customers attention once they think they’ve lost their business.
4. Offer surprise rewards
Allow your program to be flexible so your business can do meaningful things for your customers once in a while to make them feel valued. Of all B2B reward ideas that work, this one can make a big difference; especially if your customers are being rewarded by other companies only when they spend a certain amount of money. They’ll appreciate that you simply reward them for doing business with you.
These are just a few strategies you can adopt to improve your sales incentive and rewards program, and subsequently customer engagement. Start implementing them and see how your incentive and rewards program improves.