19 May 2020 | Partner Enablement and Loyalty
Three core reasons why partner loyalty programs fail are inflexibility, poor execution and not taking a data-driven approach. The following top tips will turn partner loyalty program failures into success stories.
Tip 1: Take a Programmatic Approach
A programmatic approach is a key contributor to the success of partner loyalty programs. This includes technical flexibility, having a variety of incentives running simultaneously, fast responses to changing environments and needs, as well as the adaptability to cater to different regions in a localized manner. For example, the variety of incentives could include different fulfilment methods, such as credit cards, vouchers or bank transfers, plus adapting different incentives per user role, country or region to achieve greater impact. Other examples include multilanguage options, as well as proactively and regularly engaging users with your brand through electronic direct mailings, gamification apps or training sessions.
Tip 2: Focus on Proper Execution
Taking a programmatic approach as mentioned in Tip 1 is all good and well, but without proper execution, success is not at all guaranteed. Proper execution includes having a proper tool and support system in place as the heartbeat of your partner loyalty program. It’s the differentiating factor between failure and success. What does this “tool” look like? Quite simply a secure, online platform or portal that can be a solid basis for activation, enablement and nurturing – as well as a central place for all activities. Whether it’s a brand-new platform or one integrated into your existing partner program, successful programs stand out because of a sound technical setup and execution. This execution could provide easy integration and registration, the option to have granular user structure adaptability for different roles, the means for targeted communication, as well as reporting in the form of detailed user information and analytics.
Tip 3: Invest in Business Intelligence and Data Management
It is important to have a holistic view of the entire channel network. This is where business intelligence and data management are vital components in getting a clear picture of the partner ecosystem, as well as possible areas of growth and targeted nurturing. Taking a data-driven approach can help to manage data more effectively and identify the potential to cross- and upsell products. Furthermore, reporting will allow you to strengthen partner loyalty by identifying relevant stakeholders to nurture. Once identified, you can develop specific tactics and drive targeted communication. This way the loyal stakeholders feel valued and nurtured, and you reach your business goals.
[CHECKLIST] How to Revive a Stagnant Partner Program
This checklist highlights some must-have aspects to revive a stagnant partner program, as well as helpful tips to motivate and retain channel partners.Download Checklist