The strategy aims to approximate and strengthen the relationship between a brand and its different audiences
Do you know when we get a perfect gift for that moment? Our reaction is one of joy and gratitude, basically nothing better than receiving something that seems made especially for us. Reward Marketing is about this.
Among the various actions to win the hearts of customers is Reward Marketing, a strategy that aims to bring closer and strengthen the relationship between a brand and its different audiences. We are talking about involvement and loyalty.
One research of OpenText, conducted with 2,000 Brazilians, revealed that 73% of consumers are more likely to buy more than once from brands that offer personalized treatment.
Do you realize the importance of creating a rewards program to maintain targeted communications and relationships that are always present in the daily life of customers? The intention is not only to promote awareness of the brand, but also to encourage people to have a much more positive view of the brand and, as a result, to sell more.
Difference between B2C and B2B
The essence of marketing is the same, the difference is in the audience to which you will provide experience with reward actions or programs. In B2C (Business-to-consumer), your target audience is people who are part of the final consumer group. In B2B (Business-to-business), your target audience is other companies. With that, the language of communication and rewards also become different. But, just note this truism, after all, all audiences are people. In other words, it’s always about human beings, who, by the way, like to win something.
Benefits of Reward Marketing in B2B
Reward Marketing can create a real bond between two companies. If you own a business or work for a company that has multiple suppliers, you know that good strategies focused on engagement and loyalty generate lasting relationships and have a direct impact on day-to-day operations and overall results.
A simple and efficient strategy can be responsible for establishing this long-term trusting relationship. With that, some of the benefits of Reward Marketing are: Increased engagement with the brand, Building a strong community around your business, Loyalty, Personalized and positive experiences, Improved quality of services and products, Reduced customer acquisition cost , increase in sales conversion rate, among others.
How to start creating reward marketing campaigns
You don’t need to create a great campaign to get started. There are several ways to keep your customers engaged with your brand, and believe it or not, you can start by testing it with very simple programs and actions. Simple convinces and is very powerful. Perform a few actions like the ones in this list:
- • Take time to listen to your clients about what motivates and drives them;
- • Set goals clearly and objectively;
- • Make an analysis of your service or product in question;
- • Define your customer base;
- • Write metrics and all indicators to track the performance of the rewards marketing campaign;
- • Describe the needs and characteristics of the audience you want to reach with a given campaign;
- • Establish the budget available to implement simple and fast incentive actions;
- • Start by involving your internal teams to improve processes before launching externally;
- • Create engagement actions;
- • Automate processes.
How about working with the Minimum Viable Product (MVP: Minimum Viable Product) concept? With this model, widely used in the startup universe, you can create your first version to test. Did you take off by plane? Make changes during the flight, choose the one that best fits your business and the needs of your customers, and move towards your goals.
Some questions to ask about B2B Rewards Marketing
There are many benefits, ways to do it, and examples. The most important thing is to always put yourself in the customer’s shoes. Based on this, I share some thoughts to make before investing in Reward Marketing in your business.
- • Would I be interested in the reward I offer?
- • What image does my company convey during the implementation of this Reward Marketing campaign?
- • Does the reward offered make sense for my client’s trading moment?
- • Does the incentive and rewards program I’m creating align with my company’s business strategies?
- • What does my company gain in return with this action focused on this clientele?
- • Do the prizes I’m offering appeal to the majority or just a small fraction?
- • Is my rewards program easily understood by people?
- • Is my rewards program easily measurable?
- • What are my campaign performance indicators?
This list could turn into a list, but the key point is this: Realize that such reflections naturally indicate answers and paths forward. From this diagnosis you will know what, for whom, how, when, where and why to do it.
The importance of having a smart rewards platform
It must be agreed that it is no longer possible to spend time and money on complicated and not always assertive processes. The success of a bounty campaign is based on a number of elements, not just one big idea in your head. An agile and easy-to-use digital assignment tool that optimizes everything in one place and that enjoys market trust is one of the success factors.
When you have a company do this work for you, it is possible to serve and reward thousands of people in one place, have guaranteed hassle-free logistics along the way, as well as customize what will be delivered to the customer. Other than that, to enhance your reward marketing strategy, you are guaranteed a low infrastructure investment.
[Este artigo foi escrito primeiramente para o blog da Premmiar, plataforma digital de premiação e recompensas, empresa parceira do Homework.]
Laíze Damasceno is a journalist, writer, LinkedIn Top Voice, humanized content specialist, and founder of Marketing de Kindness, a content creation, education, and consulting firm that helps brands be more humane, kind, influential, and thriving.
Source: Terra
Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.
