If you are a technology vendor selling through reseller channels to end user businesses - and you want to build market share, then you need a foolproof loyalty and rewards program.
The Loyalty Pool is a B2B loyalty program that rewards reseller sales reps for sales activity on behalf of participating vendor members.
Here are 10 ways vendors can use loyalty programs to increase long term business value
- Provide SPIFFs directly to reseller reps and get their attention. With the Loyalty Pool, vendor rewards are pooled together into a rewards program that is easy to use and exciting to reps. You might not have got their attention before, if the dollar potential was modest, but as rewards pool together across vendors, a few hundred dollars to a rep from a single vendor is now highly attractive.
- Extend the reach of your Partner Managers. Cover existing accounts better. Partner Managers often have more accounts than they can effectively cover. The Loyalty Pool helps you stay top of mind across your entire partner channel.
- Reach new resellers that don't sell your products and services. With thousands of reseller reps participating, chances are there will be resellers and reps that do not currently sell your product or service line or lead with it.
- Provide incentives to sell solution bundles. Create SPIFFs that reward for bundles of products that include higher margin add-ons and related services.
- Develop cross-brand promotions with vendors of complementary products. Printers and laptops, tablets and cases, hardware and software, etc. Develop high value solution bundles with other participating members and offer compelling SPIFFs for selling new products bundle. The Loyalty Pool's streamlined claims submission process supports multiple vendor members on a single claim.
- Scale loyalty programs faster. We've seen vendors launch promotions that they cannot track, administer and reward because they don't have an effective platform to support the promotion, there is too much manual intervention and partner managers simply don't have the time. Their program stalls out and does not reach its potential - by a long shot. The Loyalty Pool platform is purpose built and an effective way to rapidly deploy loyalty programs.
- Improve communications with reps working for resellers. We all get more email than we can read, but when a rep is earning SPIFF dollars, they pay attention. Your messages get through - right to the rep that makes the decision on which products to quote, deal by deal.
- Use the Loyalty Pool's analytics to fine-tune your program and accelerate your results. You not only see how well promotions are working, you get insights into who is selling and who is buying - by vertical, by geography, by company, by reseller, etc. Make smarter decisions and grow your business faster with deeper insights from the points program.
- Deliver training - online, when and where it's needed to help move a sale forward. Perhaps a rep needs a briefing on the benefits of a new product or offer. Track, test and reward points for taking training and completing tests. When reps are confident and competent, they are more inclined to quote your products. Add a compelling SPIFF and you've got their commitment.
- Pay out rewards on a timely basis. It sounds logical, but too many companies lack the resources, processes and platforms to effectively manage programs through claims submission, validation and reward fulfillment. With the Loyalty Pool, you subscribe to 'best in class' services and we make sure rewards are available on a timely basis to help you strengthen your brand and build partner loyalty.
Is the Loyalty Pool right for your company? Start with a discussion and a demo. Contact us.