B2B Leaders in Loyalty Podcast

“Why are we spending so much money launching a loyalty program?” “Why can’t we cut the loyalty program budget?” 

In this episode, and our final podcast of the series, Dr. David Cox - CEO of Motivforce answers the types of questions that you may well face from stakeholders in your organization. Company executives across all departments, from marketing and sales to operations and finance, often underestimate the amount of effort and expertise it takes to run loyalty and incentive programs, the work required to execute these programs at both strategic and operational levels, and the ROI these programs can deliver. 

Internal misalignment often begins with a lack of strategic vision, while clarity starts with a clear sales, marketing and loyalty strategy.

In this episode, and following on from episode 3, Dr. David Cox - CEO of Motivforce shares his insights into the concept of running a pilot program if you are a business considering dipping your toe into the loyalty marketing sector.

So, you’ve considered all the relevant business issues and objectives for launching a loyalty program. Your product and pricing are right. You have identified your target customer. You have decided that a loyalty program is appropriate for your business and could deliver ROI. But you still don’t know where to start?

Loyalty programs are a long-term strategy. Getting them launched requires the strategy to be embraced and signed off by stakeholders across your organization, including finance, operations, sales and marketing. Each of these departments has their own agenda and expectations as to what the loyalty program will deliver. This ongoing internal assessment can delay the launch of a program for years, and prevent the company from enjoying the benefits that a well-structured loyalty and incentive program can deliver.

In this episode, and following on from episode 2, Dr. David Cox - CEO of Motivforce shares his insights into the concept of creating the ideal loyalty program participant profile and rewarding for all behaviours that a participant demonstrates in adopting this profile.

When you launch a loyalty program, you need to target a certain customer, segment. Loyalty programs never appeal to every customer who has
ever bought something from your company, or every business partner in your B2B channel who has sold one of your products. But once you’ve
defined the target audience for your loyalty program, the next step is to consider ‘profile performance’. This is the concept of creating the ideal
loyalty program participant profile and rewarding for all behaviours that a participant demonstrates in adopting this profile.

In this episode Dr. David Cox - CEO of Motivforce shares his insights into planning which customers or business partners you should target with your loyalty program to ensure its success.

Loyalty and incentive programs are very powerful, adaptable and flexible tools. They work across many B2B and B2C industries including finance, retail, travel, high tech, manufacturing, medical and agriculture. They tend to be a defensive marketing strategy and used to protect against customer defection and to build ongoing behavioural loyalty. But it’s really important to establish which customers or business partners you should target with your loyalty program. Without the correct segmentation, the results of your loyalty program will not deliver on your business objectives.

It is really important to establish which customers or business partners you should target with your loyalty program. Without the correct segmentation, the results of your loyalty program will not deliver on your business objectives.

In this episode Dr. David Cox - CEO of Motivforce gives his advice on what to think about if your business is looking to start a B2B loyalty program. 

Like all of the marketing weapons that a business has at its disposal, loyalty programs are only highly effective under certain conditions. And they are also more effective for certain products and services.  

For those reasons, it’s important to consider various business issues first and make sure you get them right. If not, then your loyalty program is going to fall flat and won’t deliver the results you are looking for.