How to Get Customer Data from B2B Loyalty Programs
In channel sales, you’re often out of touch with the suppliers, customers, and end-users who matter most. You need customer data to fix that, especially when you go to market through sales channel distribution. A B2B customer loyalty program can help you motivate channel partners to submit purchase information that helps you build up accurate, up-to-date customer data.
Loyaltyworks’ experience working side-by-side with B2B clients has enabled us to identify these best practices for using loyalty programs as a method of gaining valuable customer data:[ezcol_1half]
Offer irresistible incentive rewards.
No matter how you present them, undesirable incentives won’t change anyone’s behaviors. Everyone has different tastes, so it’s impossible offer one reward that appeals to your entire sales channel or customer base. The solution? Let them choose their own rewards. Distribute online reward points for desired behaviors (submitting invoices, warranty registrations, customer surveys, etc.), which they can then redeem for items in an online rewards catalog. Loyaltyworks’ rewards catalog features millions of merchandise rewards, along with travel and event ticket items, giving all your channel customers the opportunity to earn rewards that are truly motivating. You can also use the Uniquely Yours feature to allow high point earners to redeem their points for significant rewards like home renovations, college tuition and loan pay-offs, plastic surgery, vehicles and more.[/ezcol_1half] [ezcol_1half_end][/ezcol_1half_end]
Use loyalty program apps to facilitate better, faster data exchange.
To encourage optimum adoption of your customer loyalty program, it must be easy and convenient for participants. The combination of convenience and rewards gives your customers the incentive to do things they previously considered not worth the time and effort.One of the ways loyalty rewards can be made convenient is through the use of loyalty program apps. The Loyaltyworks mobile app is designed to make sales claims validation and reward redemption faster and easier. Your sales reps or customers simply scan a product UPC or snap a picture of an invoice while on-site and upload the documentation into your loyalty program. The app can be paired with performance tracking and claims verification features so you can automatically audit claims and distribute rewards. As reps submit more and more claims through this instantly gratifying system, you not only increase sales, but begin to amass customer data from invoices and other submitted documents.
Run strategic sales promotions and extensive reporting.
Sophisticated loyalty program software like Loyaltyworks’ allows you to run multiple, simultaneous sales promotions with specific channel customers participants. Schedule a three-month promotion designed specifically to motivate contractors to sell more units from a new, energy-efficient product line, for example. Targeted promotions help you zero in on certain customers and end-users, so you can gather data on the groups most influential to your sales.Advanced online incentive technology provides important program performance information that allows you to collect customer and participant data. Loyaltyworks offers free reports you can export directly from the program at any time. As you analyze these reports, you can identify pain points, trends, and customer purchasing patterns.
Use sales promotion results to improve your data quality.
What do you do once your loyalty program has allowed you to collect customer and sales data? Use that data to refine your sales and marketing strategies, gathering even better You can compare the results of sales promotions to discover new opportunities and potential for growth. Every time you do this, your data will become cleaner and your sales and marketing strategies will be more effective. [/ezcol_1half] [ezcol_1half_end][/ezcol_1half_end]In today’s markets, there’s no shortage of people offering shady methods of acquiring customer data. But if you want to gather your customer information and clean up your database the right way, customer loyalty programs are one of the best strategies. This is because customer loyalty incentives are mutually beneficial for both parties. Your sales channel partners enjoy their earned rewards, while you enjoy a stream of clean, updated customer data.
Let’s work together to create your custom incentive plan !