Why B2B Loyalty Programs is need of the Hour

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Why B2B Loyalty Programs is need of the Hour?
The B2B landscape entails dealings between two
business firms, like a retailer, manufacturer,
wholesaler and dealer. Every business firm wants
clients that can give them business till
eternity. However, retaining an old client is not
as easy as it may sound, especially in this era
of cut-throat competition. Losing loyal clients
could significantly undermine your efforts to
take your business to new heights. That said,
businesses must pay heed to B2B Loyalty Programs
as they are especially designed to help you keep
a good hold of your business clients, coupled
with performance track and analytics reports. A
recent survey showed that the cost of acquiring a
new client is 10 times more than retaining an old
client. Besides, new client acquisition is more
extortionate than retaining the old client. The
Takeaway It's paramount for every business to
earn user loyalty. And the best way to ensure
that is adopting B2B Loyalty Programs.
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How B2B Loyalty Programs Help Keep a Tenacious
Hold of Old Customers
B2B Loyalty Programs go a long way in
maintaining large business users for lead
generation by offering rich, cost-effective and
scalable feature for any size enterprise. It
helps retain existing dealers, improve brand
value and ultimately increase business growth. If
you want your users to remain loyal, you must
find a way to WOW them. The best part of the
B2B Loyalty Program is that it offers
unprecedented experience to its dealers in a fun
filled environment. Online B2B Loyalty Programs
are much more effective than conventional ones
when it comes to time and money. They are much
easier and quicker to set up when compared to the
existing Loyalty Programs that take weeks or even
months to flourish. A survey conducted by
Forrester research showed that an average company
loses 10 of their clients every year. But,
business owners can bring Online B2B Loyalty
Programs to their rescue. The statistics even
showed that a 2 increase in customer retention
is equivalent to profit on 10 cost cuts. The
Pepperdine University Graziadio Business Review,
leaked out the report claiming that Online B2B
Loyalty Programs help retain 92 of the
customers compared to 68 customer acquisition
rate from advertisements. Below are a few key
features offered by the B2B Loyalty Program-
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• SOCIAL FAN PROGRAM
• BUZZ MARKETING
• INFLUENCER MARKETING
• CUSTOM FACEBOOK APPS
• VIRAL MARKETING
• The common Loyalty Programs involve offering of
  reward points to their customers, often adding
  incentives for making a purchase. Offering
  Loyalty reward programs with the needs of the
  users could prove to be the best marketing
  strategy one can follow.
• To cite an example, one of the best retail
  Loyalty Program is Starbucks Rewards. The
  statistical report showed that the B2B Loyalty
  Program helped the firm raise its revenue to
  stunning heights of 2.65 billion.
• Customer loyalty programs have become the need of
  the hour for almost every business, regardless of
  their sizes. Have you ever been part of a
  customer loyalty program? What you think about
  the efficacy of customer loyalty programs? As
  always, your views are vital for us, please add
  them in the comment box below.