Not many years from now, almost all manufacturing companies and B2B brands relied on excel sheets and several legacy systems to manage their channel loyalty programs as well as calculate the loyalty rewards. That wasted a lot of time and made the loyalty programs extremely cumbersome and repetitive.
Over the last few years, loyalty programs evolved, and how? With rapid technological changes, a majority of highly successful brands are using loyalty software to run their channel loyalty, brand loyalty, as well as influencer loyalty programs.
Now, the question arises “even though a majority of channel sales transactions happen offline, does it make sense to invest in an app-based channel loyalty program?” The answer is a resounding ‘Yes.’
At LoyaltyXpert, we have designed a wide range of app-based channel loyalty programs for various traditional manufacturing firms across industries and helped them cement their bonds with their channel sales partners.
In this blog post, we have discussed why B2B brands and traditional manufacturers need to leverage app-based loyalty programs to engage their channel sales partners and reinforce their loyalty. Read on to know more.
1) Allows you to provide instant rewards
In the age of instant gratification, a slight delay in returns or rewards can cause a lot of discontentment. Several studies in psychology found that if there is a delay in a loyalty program’s redemption rewards, then they become less effective.
By using traditional methods, manufacturing companies and B2B marketers tend to take a lot of time to reward their channel sales partners. When the channel sales partners don’t get their rewards on time, their motivation level drops, and they are less inclined to walk the extra mile and make extra efforts for your brand.
But by using an app-based channel loyalty program, you can reward your channel sales partners every time they perform the desired action. That’s how best-performing manufacturers and B2B marketers are successfully providing instant rewards and keeping their channel partners motivated.
2) Enables you to personalize your loyalty rewards
When crafting loyalty programs, some businesses design a one-size-fit-for-all program for their channel sales partners. That’s a huge mistake. Not two channel partners are alike, so how can you expect them to be happy with a standardized incentive program?
Personalized loyalty rewards work like magic for both the creators and recipients. When manufacturers and marketers find the key motivators for each of their channel sales partners, they can tailor their loyalty rewards as per the liking and preferences of their channel partners.
But by using excel sheets and traditional methods, manufacturing businesses can’t effectively segment their channel sales partners. On the other hand, app-based channel loyalty programs will enable them to personalize rewards for different channel sales partners.
3) Makes loyalty programs more convenient
The best thing about using technology is that it makes things so simple, easy, and convenient. App-based channel loyalty programs are convenient for both manufacturers and channel sales partners. The former won’t need to fill up the excel sheets manually nor do you need to worry about the files getting deleted. All they need is a high-quality loyalty platform and they are good to go.
Likewise, the latter i.e. the channel sales partners can redeem their loyalty rewards and track all the relevant metrics just by using their smartphones. In the digital age, digitizing channel loyalty programs is extremely prudent for manufacturers and B2B marketers as it will enable them to automate the entire channel loyalty program by using loyalty software.
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4) Helps you remain connected with your channel partners
As per a recent Bond’s Loyalty Report, nine out of every ten channel sales partners would like to engage with their preferred loyalty program by using the latest and emerging technologies. By using app-based channel loyalty programs, manufacturers can remain connected with their channel sales partners 24/7.
Channel sales partners can use messaging and text features to communicate with the brand’s sales and marketing team during working hours and beyond. A channel loyalty app will enable them to understand brands’ products better and forge stronger bonds. That, in turn, will motivate channel partners to be more efficient and remain loyal to a company for a long time.
5) Provides a massive competitive advantage
At present, creating a well-designed loyalty program is not at all a choice but a necessity in the digital age. A majority of successful manufacturing companies are already using app-based channel loyalty programs to reward their channel sales partners. In such a scenario, taking the help of a reliable loyalty solution provider will not only help you compete against them but help you stand out from the competitors that aren’t using app-based loyalty programs. It gives a major competitive edge.
Apart from that, with a majority of channel partners using smartphones, using app-based loyalty programs enable companies to remain connected with their distributors and resellers round-the-clock and provide all necessary support. This helps businesses to remain competitive in a fast-changing world.
Finally, it may be concluded
Using excel sheets and traditional tools for channel loyalty programs has become so outdated. At present, using app-based channel loyalty programs is the road to the future for manufacturing companies and B2B marketers. If you are looking for an app-based loyalty platform, then we at LoyaltyXpert can help you with the right solution. To know what we can do for your business, contact us today.