B2B success starts with a strategy!
Choose a partner with B2B loyalty and incentives expertise that truly understands your business pain points and helps find a solution for them. Insight into the dynamics between you and your distributors, customers and channel partners, and purchase behaviours all help to create a custom strategy that motivates and lifts performance.
Creating measurable changes in behaviours that improve your business performance begins with building the right strategy. Building a successful B2B loyalty and incentives program requires a partner that gives you more than just a single reward option or a fancy website with a reward catalogue that calls your program “live”!
Your B2B loyalty and incentives program must focus on achieving business objectives. Rather than rolling out a cookie-cutter program that does not factor in your business goals, we take the time to understand the critical pain points and areas within your business before we begin our suggestions.
The foundation of an excellent strategy is knowing how you engage within your industry and its unique features. With insights about your customers, distribution, sales staff, buying behaviours, challenges and pain points, we assemble the building blocks to determine an engagement program that delivers you genuine ROI.
Based on your business insights, we will build a strategic plan unique to your business objectives. The plan will outline your engagement solution-to-be, how your program kicks goals, and how to measure the results it set out to achieve.
For us, it’s the final piece of the puzzle. With our “strategy first, rewards second” approach, you know in advance what rewards will get you a long-term behaviour change with your program. And whatever you use to inspire performance — from Visa Prepaid Cards, Merchandise or Travel Incentives — is 100% supported by our in-house management and delivery teams.
There isn’t a part of the process we can’t help with to get our channel partner program delivering change for your business!
Whether your sales channels hit the high notes or fall flat, building a B2B loyalty and incentives program to change your distribution channel behaviours starts with solid foundations.
A B2B loyalty and incentives program aims to influence sales-based behaviours for the better. The risk is that the wrong incentives don’t trigger any change or, worse, it creates unwanted patterns. But when you combine behavioural insights with a matching strategy, you can inspire almost anyone to achieve the goals you’re after.
Strategically built B2B loyalty and incentives program influences customers who have an account with you and purchase your products or service or your sales team or sales channel who sell and recommend your product.
Incentives are measurable and can be linked to an ROI. When participants in your incentive program don’t achieve the behaviours or benchmarks you have established, they don’t get rewarded, which means you’re not spending money on what you don’t achieve. And if they do, it means that your program is working well and you are getting the results you set out to reach out of your investment.
It’s time to evolve! Don’t just dangle a carrot. Think strategy first, reward second!
Every business and every industry are different. They all are in different stages of growth and have various pain points. So, recognising the complexities of human behaviour and relevancies at work and the pain points in your channel and distribution network will make your incentive program succeed.
Some of the pain points we have solved with our program over the years:
Your customers and channel partners regularly interact with several vendors and suppliers, so your incentive and rewards program must consider these relationships and ensure your brand remains competitive and in front of your mind.
In partnership with you, we work on a rewards strategy that will change behaviour and solve your business pain points. This results in brand engagement, more transactions, and better customer lifetime value.
Beyond an ROI, your program will result in better sales performance, strengthen relationships with dealers and partners and secure customer loyalty. And most importantly, it will give you a clear advantage in the market in which you operate.
If you are more curious about our methodology and process work, here is the journey we will take you through to build a winning incentive strategy.
From discovering the change and performance improvements required in your partner and sales channel, all the way through to understanding your stakeholders, building a solution, launching, and managing your program, to the fulfilment of your reward and reviewing the program’s success.
A well-designed rewards strategy stimulates sales in any B2B environment, but a strategy combined with expertise in your particular industry will make your program practically unstoppable.
At 212F, we understand your channel. By focusing on specific business pain points, we have created unique rewards programs for just about every industry. We have strategies for the following industries:
We challenge whether an incentive and rewards strategy implemented in other industries would work in your market by adapting it and following your particular needs. Whilst you can learn and see many parallels, implementing an engagement strategy in a specific sector isn’t straightforward.
Every company in every industry has nuances and a very different path for products to move from vendors or manufacturers to end consumers or users. Purchase intentions will depend on a buyer’s position in the sales channel within their industry. Therefore, the behaviours are different, and so are the relationship dynamics, needing to consider loyal customers and new customer acquisition.
Check out some examples of engaging and successful B2B Incentive & Rewards programs that achieved program objectives and more importantly, changed long term behaviour.
We stay on top of the latest B2B sales incentive trends to help you lift the game of your channel, distributor, and partner programs.
