Business-to-Business Loyalty

Premium Group is a specialist in the Business-to-Business loyalty market offering customised programmes tailored to each client’s needs.

If you want to retain and grow a customer, you're going to have to do more than just sell a product. The very nature of a B2B loyalty programme entails incorporating strategies such as soliciting customer input, empathising with customers' day-to-day challenges, retention tactics and rewarding top customers with extra service. A loyalty strategy should be focused on the overall customer experience.

Retention efforts are essential given that at least 20 percent of new sales generally come from existing customers, often more. It's much more cost-effective to keep a customer, satisfy them, increase that share of wallet and share of mind than to go out and acquire new customers. Yet, companies’ acquisition budgets and efforts are often larger than their retention budgets.

Segmentation is key to providing a successful and profitable loyalty programme. Throwing marketing dollars at unprofitable customers with no ability to increase their spend drains the overall success of a Programme.

The value of a programme lies in its ability to deliver:

  • Reward – thank-you to customers for changing their behaviour and allowing you to gain insights into what they value. Rewards must be attractive and easily attainable, yet aspirational enough to capture customers’ imaginations.
  • Recognition – the softer side of rewards. Some extra gesture – maybe a complimentary upgrade or invitation to an event – telling your best customers that you appreciate them.
  • Relevance – the future of loyalty in a crowded marketplace. When consumers are overwhelmed by fragmented information, competing messages and emerging channels such as social media and mobile – connect with them by showing you understand who they are and what they care about.

B2B Coalition Programmes

Business-to-Business companies can partner with non-competing brands that share a similar customer base to provide a significant rewards mechanism. The benefits of earning points from multiple sources in B2B are likely to provide an industry leading programme which will be difficult for competitors to match. B2B partnerships can be structured in many different ways – the Programme may be branded with a major name in an industry and supported by multiple smaller brands. Or the Programme may have a generic brand name with multiple partners of similar size who will all have even exposure.

  • Customers collecting a single currency from multiple sources have an opportunity to earn rewards more quickly, strengthening long-term engagement with the coalition – and with your brand.
  • The rich information provided by your customers can be combined with select data gathered across the coalition, including from customers who are not yet shopping with you. The result: deeper analytical insights that help you shape everything from better-targeted offers to more relevant communications, products and merchandising.
  • You share the costs of marketing, rewards, fulfillment and all other aspects of programme operations with other coalition partners.
  • The network effect from many strong partners coming together enhances the brand equity of the overall coalition while also multiplying the power of each brand within it.

Premium Group can assist with providing a suitable loyalty programme to align with your marketing strategies.