Most of the Trade and Channel Loyalty programs follow the standard structures of points based redemption or slab based achievement. But in competitive markets where the trade is exposed to loyalty programs from multiple brands, these aren’t enough anymore. Especially when the trade partners are high net worth individuals. What can cut through the clutter and grab their attention however are personalized rewards.
We live in times where every enterprise we deal with as consumers or trade partners wants to communicate frequently and directly with us. Each of us is part of numerous loyalty programs, many of which we are not even aware exist. Our SMS folders and mailboxes are cluttered with business communication which has led to the emergence of priority inboxes in many mail and SMS interfaces. This in turn has made communication with consumers extremely difficult for enterprises as getting lost in this clutter of communication is pretty much the default consequence that we expect.
One of the most reliable and extensively used approaches to sell products from multi brand outlets(MBO) is deploying In store promoters. This is used the most in electronics category but is gaining prominence in other categories such as FMCG and others as well. But doing so would involve huge financial investment apart from the overheads of management.
Employee Rewards and Recognition Programs are making their way into organisations of all sizes and across industries. They are being recognised and adopted as very important tools to keep the employees motivated and acknowledge good work done. These programs can go a long way in creating excitement and driving the performance to the desired levels.
The most key aspect of running a loyalty program is handling the communication that is to be done to the participants of the program. Almost all the loyalty programs handled by anybody right now rely on manual file creations and uploads to drive the communication. Automating such communication can improve the efficiency of the program by leaps and bounds apart from providing flexibility in designing better and more targeted communication.