B2C vs. B2B Loyalty Programs
When people think of loyalty programs, they most likely picture the kinds of programs they encounter in their daily lives: saving up travel miles for a free ticket, filling up a stamp card, or even just accumulating points to spend in an online rewards catalog. The team in charge of running the programs are usually trying to include as many participants as possible, and thus market their program in a way that will garner mass appeal. This kind of program is referred to as business-to-customer (B2C), and it makes up the majority of all loyalty programs.
The other type of loyalty program is much less commonly known: B2B (business-to-business). B2B refers to the commercial transactions and relationships between manufacturers, distributors, dealers, contractors, retailers and more. According to Sean Geehan, author of The B2B Executive Playbook, an average B2B company typically has five or fewer loyal B2B customers. This makes the relationship between you and your B2B customers absolutely vital to the continued health and growth of your business.
The Importance of B2B Marketing
All of that means there’s whole lot riding on the success of your B2B loyalty program. It’s not as simple as just filling up a stamp card or getting cash-back credit card rewards. B2B loyalty programs require a very different marketing approach than B2C—but that’s not necessarily a bad thing! While its smaller size may seem limiting (and maybe even a little intimidating!) initially, there are plenty of interesting strategies and features that you can rely on when marketing your B2B loyalty program.
We’ve put together a B2B Loyalty Program survival guide to help you to understand the differences between B2C and B2B marketing, and all the helpful tips and tricks you need to get your B2B loyalty program off to a strong start.