It can be a continual challenge to develop compelling ideas for B2B channel incentive promotions, but maintaining program participant interest is critical for success.
Here are four best practices for your next channel incentive promotion:
1. Keep It Fresh: Don’t run the same type of promotion over and over, like offering a double points offer. Keep it fresh and interesting by varying promotion types, including ideas such as threshold promotions (incenting participants to hit a specific sales goal) or gamification-related promotions (such as spin-the-wheel promotions, badges, and leader boards).
2. Make Rewards Attainable: Offering the chance to earn an Apple Mac Book Pro or a trip for two to Hawaii makes for a great promotion headline, but most participants quickly realize that they don’t have a chance to win (given their sales levels). So, make the big rewards attainable to lower tier members using a variety of techniques such as flash sales (redeem using fewer points in a limited, 30-minute time period), flash auctions, or sweepstakes. Program managers can control liability by limiting available quantities.
3. Mix It Up: Keep the rewards catalog fresh and interesting by mixing it up. Vary the awards that are featured in the catalog, continually add new items to the catalog, and don’t be afraid to take things out. Offer unique items that aren’t readily available in other programs.
4. Offer Alternative Earning Opportunities: Recognize that some program participants may experience long stretches between earnings, and offer points encouraging them to engage in different ways. Create non-transactional earnings opportunities, such as points for viewing videos about your products (which will help them sell your products more effectively), or points for sharing best practices with other program members, or points for taking training courses. Or, collect more information about your program members through point-earning surveys or asking them to complete advanced profiles.
Vanson would be glad to discuss these and other promotion ideas with you!
