If you’re looking to increase channel partner sales, a B2B loyalty program gives you the competitive edge to motivate distributors and gain insight into end-user behavior. You can throw up any old online loyalty program, hoping it increases sales. But B2B loyalty programs – and this is important – are only as good as the technology that powers it.
1. the road to [sales]success!
How to increase sales with distributors.
2. EFFECTIVELY MANAGING A LOYALTY PROGRAM IS IN THE
JOURNEY, NOT JUST THE DESTINATION.
It’s not enough to simply set up your loyalty program and walk away.
Loyalty programs need strategic planning and the right technology to
ultimately help you increase distributor sales.
Follow these directions to kickstart your journey.
3. THE ROADMAP LEADING TO INCREASED
SALES:
• Use data to study distributor sales performance. This
determines where your strengths and weaknesses are
as a manufacturer.
• Data drives effective communication. Report specific
goals and market insights to distributors, so that they
pass real value to the end-consumer.
• Launch intelligence-driven investigations to uncover
what end-users want, instead of adding on services.
• Train up your distributors on your products and
services with training incentives.
• Problem solve for your distributors to make their jobs
easier. Reward their sales performance with incentives.
This way to increased sales!
4. 1. FOCUS ON YOUR PERFORMANCE TRACKING TOOLS.
Just like you would study a map to determine the best path, you
need to study your distributors to determine which sales incentive strategies
encourage he behavior you want to see. Sort your channel partners into tiers
based on their sales performance and develop targeted sales promotions to best
incentivize each partner to make more sales. To do this, you need to be consistent
with data collection, an action that should be easy with an integrated version of
your B2B loyalty software and CRM solution.
5. 2.GIVE DATA, NOT MORE SERVICES.
Offering more services to end-users before finding out what value means
to them is a lot like driving blindfolded - you are going to crash. While
it’s tempting to add more services to appear more valueable than the
competition, it’s better to use data gathered from your distributors and their
interactions with end-customers to capture a better value proposition. Find
this data in purchase histories, feedback, and more.
6. 3. COMMUNICATE WITH YOUR DISTRIBUTORS.
On the journey to increasing sales revenue, getting to know
your distributor is essential. Without effective communication,
distributors feel unsupported and you may grow frustrated with
their performance.You should specify goals and exchange market
information so that you get better sales and marketing tips while
channel partners have a better idea of how to sell to the right
customer. To communicate frequently and efficiently, do so where
distributor’s prefer using your loyalty software’s open enrollment
feature.
7. 4. TRAIN YOUR DISTRIBUTORS.
Your distributors may be selling your products with little
knowledge of what separates them from rivals in the
market. That’s a hazardous road to turn on. Instead, steer
distributors down the right road. Incentivize training with
a training platform that educates and rewards distributor’s
for knowing how best to sell your product.
8. 5.BEAT THE COMPETITION WITH CONVENIENCE.
When your products and services are in spitting distance from the
competition, what separates you from them? That is, what will keep
your distributors working with you and your end-users loyal to your
brand? According to a Harvard Business Review article, it’s
convenience.
The best way to assure distributors stay loyal to your brand is to
• Remove obstacles (time, distance).
• Anticipate future issues and attack them head on.
• Address the emotional side of customer and distributor
interactions with incentive rewards programs.
- Harvard Business Review
“Stop Trying to Delight Your Customers” by Matthew Dixon,
Karen Freeman, and Nicholas Toman
https://hbr.org/2010/07/stop-trying-to-delight-your-customers
First, delighting customers doesn’t
build loyalty; reducing their effort—
the work they must do to get their
problem solved—does. Second,
acting deliberately on this insight
can help improve customer service,
reduce customer service costs, and
decrease customer churn.
“ “
9. rdf
6. SHOW YOUR DISTRIBUTORS THE PERKS OF
DOING BUSINESS WITH YOU.
Kickstart your sales promotions with loyalty rewards the
right way - with bonus points!
When a partipant enrolls in your B2B loyalty program, offer
them bonus rewards just for signing up. Doing so motivates
the participant to keep signing on to the program simply
because you’ve given them a head start.
Create targeted promotions just for a specific region,
branch or group.
People respond to exclusivity, especially when it means
reward-earning opportunities. Using B2B software with
flexible promotion scheduling and tracking capabilities,
single out participants in your call to action. According to
research,* they’re 15% more likely to respond.
*A HelpScout article.
https://www.helpscout.net/consumer-behavior/
Stack rewards on top of rewards!
When participants exceed sales goals, be sure to offer
them 2X, or even 3X the points.
Use gamification to excite participants.
From Spin to Win to Scratch Off games, gamification makes
it more fun to do business with you.
10. Follow these directions to improving your
loyalty program and you’ll be well on your
way to increased sales with your distributors!