Are you looking out for some ideas to strengthen your channel Partner program? Channel partners are often considered the backbone of a business as they act as the medium between the brand and the final users.
Hence, it is necessary to reward and recognize these channel partners by integrating some channel loyalty program. A neatly crafted loyalty program will help the channel partners to take ownership of the sales and take an initiative to contribute more towards the growth of the brand and their personal as well.
For different brands, there are different strategies available in the industry that can be implemented as loyalty program in India. However, the options available in the market can lead to confusion as well, hence, here are some options for you to explore and understand how these channel loyalty program can help to drive more sales.
What is a Loyalty Program?
A loyalty program or a channel loyalty program is a set of strategies integrated in a brand’s initiatives which can help to recognize the efforts of the channel partners associated and reward them as well. The objective of integrating these loyalty program is to strengthen the relationship between the channel partners and the brand by supporting their efforts.
Here you can offer incentives, rewards and recognition, support, additional training for ensuring that the channel partners feel a part of the brand and get a sense of their hard work being rewarded which ensures more efforts from their end to get the rewards again.
Why Integrate Channel Loyalty Program?
It is evident that having such a system in place that can recognize and reward the efforts of channel partners is beneficial for the brand and for the channel partners as well. Furthermore, here are some more points to shed light on the importance of integrating a channel loyalty program in India.
- Building Relationship
Recognizing the channel partners and their efforts will help you to establish a stronger relationship with them. This strong relationship will be further strengthened with the loyalty program being integrated in the brand strategy. The sense of appreciation will further allow the relationship between the brand and the channel partners to be further strengthened and enhanced.
- Enhanced Brand Recognition
Offering channel partners the appreciation for their efforts will further push them to add in more efforts and hence create more brand awareness which will result in more brand recognition among the target audience.
- Increased Partner Engagement
Channel loyalty program ensure that channel partners are more comfortable with the brand and hence are more inclined to engage with the brand with any issues and communicate openly.
- Higher Sales and Revenue
Since the channel partners will be more inclined and comfortable with the brand and will be putting in efforts to create more awareness for the brand. This will help to drive more sales and revenue for the brand and hence allow the brand along with the channel partners to grow.
- Better Communication
Allowing the channel partners to interact with the brand will further increase and enhance their communication which will further have effect on the channel-brand effective communication. For this the brands are required to offer the channel partners with a safe and comfortable environment to talk and interact.
- Competitive Edge
Rewarded channel partners, leads to more efforts and hard work, which further provides the brand with a competitive advantage in the market among other competitors in the market. Furthermore, this allows the channel partners to showcase their recognition and influence more such channel partners towards the brand, contributing to the growth of the brand.
Different Channel Loyalty Program in India
Moving on, having established the importance of integrating channel loyalty program, let’s glance through different types of channel loyalty programs available for you to explore.
- Value-added Rewards
Be it channel partner or any other partner, they appreciate value-added rewards and incentives more as compared to the traditional monetary incentives or rewards. For these value-added rewards brands can partner up with loyalty program providers such as RewardPort and integrate different programs such as CineRewardz, Sweepstakes, or Subscription Nation all of which can add value to the channel partner’s experience and make them feel more appreciated.
- Referral Incentives
For referrals, channel partners should be offered a form of incentive for referring and adding value by introducing more channel partners to the community. For this brands can add different incentives such as FreeBucks, Digiflix and others which offers them a relaxing feel and allows them to have a comfortable experience.
- Rebates
For hitting a specific target number or sales, channel partners can be offered rebates which will reflect on their efforts and hard work contributed towards the brand’s growth. This further allows the channel partners to feel rewarded and appreciated.
- Vouchers and Gift Cards
Lastly, brands can add different forms of discount vouchers, or gift cards to be offered to channel partners which would offer them an appreciation for all the hard work they are putting in for the brand. These vouchers can be offered on a monthly or bi-montly basis depending on the brand strategy.
For this you can integrate CineRewardz, AirPac or VacPac to the channel partners and show them gratitude for their undying efforts and support for the brand.
Channel Loyalty Program with RewardPort
RewardPort being one of the leading providers of loyalty programs in India, offers a wide range of channel loyalty program which can be integrated by different brands to appreciate and recognize the efforts of their channel partners.
To leverage this, brands can pick from a wide range of products such as CineRewardz, Subscription Nation, Digiflix, and others. With the expert and experienced team of RewardPort it becomes easy to track, maintain, and integrate these loyalty programs in the brand’s strategy.
For more information get in touch with the expert team of RewardPort today and get your channel loyalty program in place today!
Frequently Asked Questions: –
1. What is the target market of loyalty programs?
Target market for loyalty programs is brands that are trying to reward and recognize the efforts of their channel partners, or the loyal customers as well for their efforts and support towards the brand.
2. What type of marketing is a loyalty program?
Loyalty program is the process of appreciating and rewarding the efforts of channel partners, loyal customers for their undying support for the brand and their hard work which has helped the brand to grow.
3. How big is the loyalty program market?
Loyalty programs are a huge market whose worth keeps on increasing every month and year. This is possible due to the brand loyalty program and the channel loyalty program being integrated by the brands.
Frequently Asked Questions
What is the target market of loyalty programs?
Target market for loyalty programs is brands that are trying to reward and recognize the efforts of their channel partners, or the loyal customers as well for their efforts and support towards the brand.
What type of marketing is a loyalty program?
Loyalty program is the process of appreciating and rewarding the efforts of channel partners, loyal customers for their undying support for the brand and their hard work which has helped the brand to grow.
How big is the loyalty program market?
Loyalty programs are a huge market whose worth keeps on increasing every month and year. This is possible due to the brand loyalty program and the channel loyalty program being integrated by the brands.
