Creating a B2B loyalty program can be a great way to build a relationship with your customers and incentivize them to choose your business over your competitors. Here are the steps to create a B2B loyalty program that drives customer engagement and loyalty:

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There is an age-old debate about the best way to motivate people in a B2B environment. Should we motivate people to reach their sales targets by rewarding them with merchandise such as gadgets, gift vouchers, Gucci bags? This is known as ‘extrinsic’ motivation.

Or, should individuals motivate themselves by seeing sales as a valuable and personally rewarding activity in itself? This is called ‘intrinsic’ motivation.

‘Motivation’ is a complex concept, but it’s what drives loyalty. It determines why your loyalty program participants are willing to increase your share of wallet, or even go the extra mile for your business.

But how can you measure ‘motivation’? Most agencies and pundits will only tell you how to measure ‘loyalty’. Often this is done using the basic method of asking program participants ‘the only question that matters’, aka calculating your Net Promoter Score (NPS). But the science has repeatedly shown that the NPS is at best marginally related to loyalty program success.

In today’s markets, your company’s success depends hugely on the motivation and abilities of your business partners. Willingness is often fuelled by elaborate incentive structures, but ability is a different cookie. More and more firms are experimenting with online modules across multiple (mobile) platforms, so there are ample and innovative opportunities to work on your business partners’ tech, marketing and sales skills. Yet, we often see that the message cannot keep up with the medium. In other words, content is offered that is out of line or, at best, loosely coupled to strategic channel objectives.

Follow our 5 step process: