Upon first glance, B2C and B2B loyalty programs may seem very similar—after all, they have the same goals, right? Increase sales, customer loyalty, and collect program participant data. But the key difference between the two is size: B2C loyalty programs need to have broad appeal in order to attract as many participants as possible. B2B [ ] The post What s the Difference Between B2C and B2B Loyalty Programs? appeared first on Loyaltyworks, Inc..
Sometimes it seems like those in business-to-consumer (B2C) marketing get all the fun stuff. The touchy-feely commercials and billboard campaigns, the viral Twitter hashtags, the attention of a mass audience, customer loyalty programs—but wait! B2C doesn’t get it all when it comes to loyalty programs. Business-to-business (B2B) companies should implement and manage B2B loyalty programs [ ] The post How Are B2C and B2B Loyalty Programs Different? appeared first on Loyaltyworks, Inc..
Building relationships and improving global partner performance is a struggle for every type of business. Depending upon your partner locations, this might be a bigger hurdle than you can win by traditional marketing methods. That s especially true when language barriers are in place. Consider the robust selection of incentive methods available today when brainstorming how [ ] The post The 3 Best Ways to Boost Global Partner Performance appeared first on Loyaltyworks, Inc..
Traditionally, buying behavior of B2B customers relied heavily on building personal relationships, nurturing those contacts and providing them with a reliable point-of-sale with their preferred suppliers. Millenials have flipped the script. Few stay in one position long enough to learn everyone’s name at their own companies, let alone establish profiles within an industry. Technology is [ ] The post Understanding the Buying Behavior of B2B Customers appeared first on Loyaltyworks, Inc..
The cost of bringing in new customers can be up to 4-10 times as much as keeping current customers. This is especially surprising when you consider the fact that 44% of companies put greater emphasis on new customer acquisition than current customer retention (a mere 18%). With such an obvious discrepancy, it makes you wonder [ ] The post How to Focus Your Loyalty Program on B2B Customer Retention appeared first on Loyaltyworks, Inc..
When your business functions primarily on a B2B model, it can be easy to become so focused on managing your channel sales relationships that you put end-user interactions on the back burner. But at the end of the day, it’s your customers who will be supporting your business—and hopefully sticking around long-term. A loyalty program [ ] The post Customer Retention Strategies for Your B2B Loyalty Program appeared first on Loyaltyworks, Inc..
Even in the B2C world, it costs more to acquire a new customer than to retain an existing one. But this is especially true in B2B markets where you work with drastically fewer customers. Customer retention is the very lifeblood of your marketing. This being the case, a B2B customer loyalty program should have slightly [ ] The post Focus Your B2B Loyalty Strategies on Customer Retention appeared first on Loyaltyworks, Inc..