The current situation in the B2B marketplace is becoming increasingly tense, caused by increasing number of competitors, more demanding customers and strong emphasis on budget efficiency. Managing such short-term challenges and simultaneously maintaining a long-term strategy turns out to be a major challenge for many B2B organizations.
As a result of these factors, customer loyalty is gaining significant momentum in the B2B market. B2B2C loyalty programs are often used in order to connect with the end customer and influence brand choice. Besides from strengthening the relationship between a company and its business clients, effectively designed B2B2C loyalty programs connect brands with their end customers and help them gather valuable customer insights.
Here are just a few reasons you might want to consider starting your own B2B2C loyalty program:
- Drive better results and higher profitability throughout the distribution network
By making your resellers/distributors part of a loyalty program, you inevitably provide one more reason to promote your products and services over other brands and sell more.
- Gather customer data
If your business is highly dependent on retailers and distributors and you don’t have a loyalty program, you probably don’t have direct access to your customers. By involving both your b2b and b2c clients under one scheme, you create a rewarding experience for all parties and gain the chance to influence their behavior.
- Adjust your marketing and sales strategy
Based on the data collected by the program, you can easily identify which areas of your marketing and sales efforts need improvement. For example, you can detect loss of interest from certain customers and act upon with relevant incentives to win them back.
- Use loyalty data in new product development
By collecting information for customer buying habits, you can gain multiple ideas for new product and service offerings which correspond to customer preferences.
Still not sure whether a B2B2C loyalty program is the right choice for your business?
Get in touch with us and get a free loyalty consultation for your business!