One of the biggest opportunities created by running a loyalty program to trade/channel partners is the one to grow deeper and more meaningful relationship. Numerous methods can be devised and features can be built which will improve the relationship from a purely transactional one to something in a more emotional space. This is why it is important to see beyond the traditional discounts, cash or physical rewards.
One important pointer in devising such rewards/benefits is, at the risk of being clichéd, start with the customer. In this case one needs to analyse what would be valued the most by the trade or channel partners. One space which is...
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In many industries, Trade Loyalty Programs have been functional for years now and their execution is more or less taken for granted. Programs are launched, announced and executed almost on an autopilot mode. But there is one very important action that many companies fail to take which can have the most impact on the success of the program. It is integrating the program into the Sales Call being made by the Salesman to collect orders from the outlets.
Loyalty programs are essentially a platform designed to incentivise the channel partners for continuous and growing business. In most cases, the structure of the pay-outs is based on target...
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Post demonetization, one area that has definitely witnessed all round progress is the promotion of cashless instruments in the country. In the domain of loyalty programs which involve lot of payouts to partners, this is going to have many implications.
Payouts for retailer and distributor loyalty programs are currently handled primarily through rewards as the scale of such programs is usually lower and the payout size is higher. But when it comes to influencer programs for target audience such as electricians, plumbers, carpenters, etc. the scale is much higher and the payout size is usually lower. Moreover, target groups like these will...
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The biggest make-or-break parameter of any campaign is the perception of the rewards. Not selecting proper rewards will be a sufficient condition for the failure of any program. The following are a few pointers that should be kept in mind while selecting the rewards that go with any campaign. They are listed in the order of importance with the first being the most important.
