REWARD MIX IS ESSENTIAL IN A SUCCESSFUL LOYALTY PROGRAM
Has your sales incentive program turned to loyalty rewards yet? Are you finding that you have good engagement from your channel partners with your current channel sales incentive program? Does your sales promotions need deeper engagement and a more personalized contact to drive loyalty? Or are you still using mass blast communications and gimmicks? If so, it’s time to look at a new way to expand on your current direct sales marketing and create a whole new way to excite and pique the interest of your sales channel.
An excellent way to promote new engagement is by mixing it up with your reward program. Studies have shown that the people in your rewards programs are the ones who make the best and most profitable customers.* So, why not reward those sales’ teams that have been in the program longest or participated the most with a loyalty program that makes them happy and mixes up the rewards to provoke new interest and allegiance!
A mixed arrangement regularly gives a truly necessary fit between the business prerequisites, spending plan, and reclamation strategy. Normally the way of the venture dictates if a physical offer piece or an electronic code that is dispersed for online distribution. Furthermore, the nature of the venture can depend on the spending parameters and the customer relationship which will also come into play to decide the proper method of distribution. This conflict between all the options often puts the redemption process at odds with the required distribution method. The solution is a blended method that provides a fluid solution to bridging this operational crevice.
By offering a reward with a one-time interaction will introduce your end users but what long term relationship are you building? By offering a mix of physical and digital rewards you will create a few extra steps, but with careful planning and offering rewards that are desired your sales team will be quite willing to follow through. At this point it is essential to have a professional incentive marketing agency work with you at each step to give your program a positive user experience. As with all promotional incentives, the key is communication. The nature of the reward must be accurately communicated to the end user to ensure they do not feel mislead and ultimately frustrated with one of the steps.
While the real motivator offered has the best control over the decision making of the recipient, it is by offering a fabulous reward with a streamlined delivery system that will keep your team satisfied and engaged. Individuals will buy your item exclusively as a result of the motivating force offered; however convey that by means of a profoundly unpredictable, 10 stage, and non-easy to understand reclamation prepare and those same clients are impossible ever to buy from you again.
While it is true that the actual incentive offered has the greatest power over the immediate decision making of the recipient, it also is true that the redemption process will likely have the greatest long-term impact on revenue generated by the recipient. By offering an incredible reward as a gift with purchase and you will get short term results. People will purchase your product solely because of the incentive offered; but deliver that via a highly complex, 10 step, and non-user friendly redemption process and those same customers are unlikely ever to purchase from you again.
Key stakeholder’s well-designed incentive plan should not only offer products and services enticing enough to impact behavior but also be structured to have a delivery mechanism to meet budgetary and client expectation and relationship requirements. Creating and maintaining that balance is the difference between creating a long lasting relationship with your audience or not. A marketing undertaking that has the potential to generate revenue today…and tomorrow.
All Digital Rewards (ADR) offers everything you need for you sales channel marketing strategy. ADR’s SaaS ChannelSTACK™ offers a real time automated loyalty platform that is easy to integrate with most existing internal CRM solutions. With ChannelSTACK™ we set the control back in your grasp with instant access to more than 100,000 one of a kind incentive awards, prizes, email delivery, and reporting and analytics in a simple easy to use dashboard.
For more information on ChannelSTACK™ , or any of our other proprietary STACK™ program management SaaS applications, check out Four Key Components of a Successful Loyalty Program or call us now at 866-415-7703!