A strong loyalty program is vital in the existing B2B landscape and marketplace. Implementing successful B2B customer loyalty programs not only increases customer acquisition but also drives growth, retention and referral making the business increase sales and drive profit overall.
But what makes a B2B rewards program successful?
Different companies take different approaches and strategies for designing their own loyalty programs. Some royalty programs focus on enabling the company more socially responsible while participating in the program and on the other hand, some programs prioritize maximizing participant engagement and offers fun and reward at the same time.
A successful B2B rewards program is one that is simple and straightforward for customers to understand and creates a win-win situation for both the business client and the customers. To make the program a meaningful one, it important to first understand the strategic goals of the business and then use the customer data, research customers and monitor interactions and analyze it and thereby create a best fit loyalty program strategy that focuses on enhancing the customer relationship.
Examples Of Most Innovative B2B Reward Programs That You Must Know About
Some of the best creative B2B Loyalty programs which served as the vital asset for some of the most well known B2B companies are as follow-
1. American Express Partners Plus
American Express Partners Plus is the reward program between an organization and American Express which Gives the benefit of partnering with American Express and offers lucrative expense management solutions to the business clients from American Express.
2. Know Your IBM program (KYI)
Know Your IBM program created by the Motivforce agency is IBM’s successful and innovative B2B reward program based on learning & earn and sell & earn module in which rewards are provided based on the sales performance and also how the participants level up in each learning module online.
3. The Lenovo Lenovo Expert Achievers Program (LEAP)
LEAP (The Lenovo Lenovo Expert Achievers Program) is one of the most innovative and hit B2B reward program which sold 7 times more Lenovo products. The key benefits of the program were based on ion learn and earn module and also on sale and earn module. Participants earned points for completing education online and were also rewarded for selling eligible Lenovo server products.
With a well-designed and successful customer loyalty program, you no more have to dread the customer-turnover rate. A value-driven right loyalty program not only safeguards clients but also drives results through incentive creation and performance.