It is every vendor’s dream to nurture lifelong relationships with their customers, which is why they need loyalty program resellers is more important than before.
To ensure the longevity of these relationships, however, business owners have to invest years of hard work, dedication, and patience. Even so, there is always the risk of businesses backfiring or other vendors stepping in.
In a world of fierce competition, manufacturers need to reach out to their best reselling business partners in order to help boost their progress with customers. While maintaining loyal relationships and thriving collaborations have never been a breeze, a loyalty program reseller makes the process easier.
Let’s dive deeper into the ways loyalty programs help vendors scale their businesses whilst preserving their most valuable customers for longer periods of time – and why it is all critical to the future of your enterprise.
Resellers Open New Markets
Holding on to your channel partners will take you places – increasing both your local and global visibility.
For instance, if you want to make an impact on new locations, resellers with experience in those areas will surely widen your reach.
Moreover, if your new company is aiming to reach a customer segment, but is missing essential regulations, selling your valuables might get trickier.
If you are, say, working in the food industry, but are missing certain FDA regulations, your product might be much harder to sell. Nonetheless, by finding partners that have obtained all regulations you lack, selling your product to them is bound to open many more new opportunities for you.
It Saves You Money
Holding onto your loyal partnership with a reseller is a great technique to save money. Due to your partner’s sales capabilities, the money you invested in advertising and marketing can be set aside for brighter days.
Benefits aside, let’s see how you can turn resellers into your most loyal ambassadors and customers.
Loyalty Program Reseller: Facilitating Communication
Lack of communication is the main reason why resellers will stop collaborating with you.
On one hand, misinformation will leave resellers feeling frustrated- which will ultimately push them towards a more reliable vendor. Trust me, a reseller won’t hesitate to replace you within seconds if it’s in their best interest to do so.
On the other hand, efforts to keep them constantly informed might take up a lot of time and resources.
The way a loyalty program reseller works in your favor is by informing your customers on the latest business updates and developing strategic communication tools for them- such as automated, yet personalized emails. This keeps your customers in the know, all the time.
Building That Trust
Communication aside, a loyalty program reseller should be based on another important principle – building trust.
Chances are, consumers might easily lose that long-term trust and switch vendors due to inconsistency. Changing sale strategies by the minute might exhaust resellers of repeatedly finding a solution to market a product, and they’ll eventually move elsewhere.
With loyalty programs, however, you will be facilitating your team in making smarter decisions without needing to continually change your strategies. Plus, loyalty programs will alleviate communication with your customers and prevent any misinformation or tardiness.
Customer Rewards are the Way to Go
It is well known that resellers help boost your sales, provide access to local markets, and further develop your strategies.
When motivated in the right manner, a loyalty program reseller will remain the driving revenue force of your company for the long run.
Loyalty program resellers give out the finest rewards and are a great way to incentivize channel partners to join you. Such programs can boost your sales and profit by as much as 50% – which doesn’t sound half as bad.
Lastly, customer rewards will excite your resellers to hear from you, so every time you have any relevant news to share – they’ll be there waiting.
With a loyalty program reseller, you can give each customer incentives according to their rank.
In this case, Glue will help you make a list of your most loyal customers who deserve a greater discount.
Even more, with a little help from Glue, you can easily track your customers’ purchasing frequencies and their spending. This way, you will know which customers should be treated with more privileges than others.
To keep other customers motivated, you can always offer a quantity-based discount.
For instance, set a scale for customers to reach: purchasing over 100 units gives a unit the price of $10; however if a customer purchases 300 units, the price will drop to $9 each.
Indulging in such discounts will make the customers buy more and more from you, and for longer periods of time.
Ensure Your Rewards are Attainable
In order to motivate your resellers to collaborate with you, and attainable loyalty reward reseller program is a must.
The incentive program doesn’t have to be super-easy to reach as it won’t be profitable. Instead, try making the reach a bit more challenging, and of course, profitable for both collaborators.
A bonus tip to ensure even more trust – reward resellers in a timely and accurate manner.
Present Clear Goals
At the very beginning, a vendor should clearly lay out his goals and expectations.
This is especially relevant in terms of payments, deliveries, and timing.
Being transparent from the get-go will build you stronger and lasting relationships later on.
Undoubtedly, as a vendor, you might come across various resellers with different goals. What this means is, you have to present your vision clearly and precisely without expecting an overall acceptance.
Sometimes, you either have to adjust to the customers’ needs or let them chase after a better option.
Referral Incentive: The Best Marketing Tool
In all loyalty programs, referral incentives can be declared the king of marketing.
Thanks to this valuable tool, you can easily expand your reach among a wider clientele.
This program rewards your channel partners every time they push your business a step forward.
Customer Rewards Programs
Ensure your customers can easily comprehend your rewards program.
Mainly, you want to show which rewards are currently available and what a customer has to do to obtain them.
Of course, the last thing business owners want is to find themselves in a situation where resellers expect a reward that cannot be granted on their part.
As a result of such negligence, you might aggravate your customers and urge them to seek a finer option elsewhere.
Don’t Let Your Employees Misguide Resellers
Be sure that all of your employees are well informed on your loyalty program reseller, its gains, and everything that comes with it.
Never allow employees to misguide your customers, as even simple misinformation might cost you a significant part of your revenue.
Instead, motivate your employees as you incentivize your customers to partake in your program, by offering rewards to the most successful ones.
Among other hacks, you can also exhibit a training poster, so your employees can always remind themselves of the basics.
Personalize Your Loyalty Program Reseller
Personalized rewards programs are one of the best choices vendors use to win their channel partner’s trust.
To incentivize them, you can give out personalized gift cards offering a power of choice.
A move like this will make your customers feel extra special when presented with more than options, such as quantity-based discounts.
Another thing you can do is send out reminders to your customers, informing them of their gathered points. If they have collected enough points, consider enforcing special rewards for your busiest point collectors.
As a result, your customers might browse your gallery more often, thus making more potential purchases. If you want to make them feel even more special, you can send them a reminder to let them know it’s been a while since they visited your customer rewards programs.
Glue’s Cloud-Based Loyalty Program Reseller
Glue is your go-to cloud-based platform, home to all the collaboration features offered to your channel partner.
With Glue’s software, you will always have insights into your customers’ spending habits. Additionally, this will help you organize your discounts and promotions easily.
The best part about this program is that it is all-around accessible from any device.
What’s more, Glue’s loyalty program indicates customers’ purchase activity – whenever, wherever.
Last but not least, this unique customer rewards program helps you keep track of the progress of your offered promotions, which easily puts you years ahead of any competitors.
Above all, your business is about nurturing relationships and rewarding the most deserving ones.
If treated well, resellers may certainly remain loyal to you as a vendor, thus skyrocketing your business to immense success.
By simply asking your customers what suits them, you will discover the best offers you can provide them with.
No matter the case, continuous collaboration with your customers and implementing suited rewards programs will tremendously expand your business on a global scale and make managing your venture far more efficient.