What is a Channel?

Simply put, Channel is the best route for the brand (products) to reach the desired audience or end consumers. It ideally offers and should enable maximum efficiency and systematic movement of goods from one level to the next in the supply chain. Companies painstakingly develop these channels to provide them better visibility / control, and also help them achieve their products reaching the right place at the right time with minimal loss and maximum speed.

Why are Channel Partners needed for a brand?

Channel Partners, often called Trade Partners, are those entities or businesses who help brands reach closer / deliver their products to users. They are the intermediaries basically involved in trade business whose focus is on distribution and retailing. Companies call them “ Business Partners” because of their critical role in the entire supply chain system. They are valued for their trust in the brand, and business they generate to produce and provide.

Typically, physical goods and hardware products are routed via Channel Partners such as Distributors, Wholesalers / Dealers, Agencies, Retailers before it reaches the final user.

What is a Channel Partners Loyalty Program?

A Channel Partners loyalty program is a corporate marketing strategy to attract, retain and grow Partners loyalty. The primary intent of Channel Partners loyalty program is to constantly improve the relationship between the brand and Partners, and elevate it to an emotional level rather than just transactional.

Why is a Channel Partners Loyalty Program important?

It is very clear that the cost of acquiring a new business partner is several times higher than that of retaining the existing ones. Plus there is no guarantee that the new partner will stick to a brand with no proactive initiatives - such as a loyalty program to build and nurture relationships. An emotionally motivated partner is, naturally, always resourceful and highly productive to the brand. The business benefits are, of course, mutual.

The need to have a Channel Partners loyalty program is even more prominent when brands face ever increasing competition in the market, and the absence of a well-designed program might result in being a golden opportunity for competitors to strategize and capture markets with their loyalty program.

Tools to execute a Channel Partners Loyalty Program

Segmentation - this feature enables grouping of loyalty members as several cohorts considering various demographic, geographic and personal parameters.

QR Code - a seamless way of claiming points by scanning codes on the products through apps with an added advantage of tracking and tracing genuinity of product.

Tiering - tiers are both scientific and logical hierarchies created keeping aspirations and desires of Partners in mind. Base-tier sets the start-line during the launch and as it matures, the higher tiers start showing Partners who are performing better and are eligible for higher incentives/rewards. Tiers can be created on both criteria - total points earned or value of business achieved during a particular period. Automatic movement (upwards or downward) can also be configured to make it more consistent and inspiring.

Gamification - games are like spices that add flavour to an otherwise plain program. Games can be attached to a scheme or can be thrown to the user who qualifies for them. Partner’s engagement can be substantially increased by designing animation-based games such as Magic Box, Spin-the-Wheel, Poker (Slot-Machine), Flying Bird, Cards etc. Games thus played can increase Partners’ chances of winning more points and boost their mindset to play more thus becoming a cycle by itself. Raffles (lottery tickets) can also be purchased from their existing points, and the lucky jackpot-winner could be announced later.

Promotions - promotions are frequent offers and communications through which brands influence Partners to buy products and services. This can be notified to users via e-mails, SMS or app-push to make them aware of various marketing initiatives including latest schemes. Promotions can be either aimed at a particular target-group (based on segmentation) or generally to all Partners. Along with promotions and offers, communication on launch of new products, events etc. can also be executed. Gift-coupons - another popular method to avail discounts etc. can also be part of periodic offers.

Helpdesk - this is critical to handle general enquiry, grievances, and any other specific queries Partners may have regarding the program. This may require the called person speaking in their regional language to understand better and provide agile service. This can be rendered through either real voice at the desk or automated chatbots with native machine learning capabilities. Traditional methods such as e-mails, SMS, Whatsapp and missed-call services also augment their options. Helpdesk provides a systematic channel to route escalations to appropriate brand personnel to take remedial actions at the earliest.

Elements of a successful Loyalty Program

Admin Panel - a role-based solution with loyalty dashboard, reports & modules
Digital interfaces - for quick access, notification and interaction (apps)
Recognition - based on participation levels, involvement, achievement, other behaviours,etc.
Communication - of schemes, rewards, events, progress and relevant program information to Partners
Personalisation - based on languages, profile of users, expectations etc.
Rewards - objective and scientific method to award points in line with recency, frequency, monetary (RFM) factors and other behavioural parameters
Gifts Catalog - for a wide range of gifts and eVouchers to exchange for points
Redemption - fulfilment / delivery of gifts and eVouchers for instant gratification
Experience - from onboarding and member journey through various stages of loyalty program, delivering a rich and complete experience

Benefits of Loyalty Program for the brand

Centralised Data - brands get enormous loyalty data such as Partners details, activities etc.
Loyalty Dashboard - shows latest numbers of KPIs designed specifically to meet brand requirements
Insightful Information - wide range of prescriptive reports in predetermined formats for easy dissemination
Track Progress - monitor and analyse data to indicate consistency and fluctuation or evaluate program success
Immediate Action - gives an opportunity to take swift action to control damage, if any, or act on business intelligence to tap the market
Course Correction - for optimisation and scale program to the next level

What it needs to run a great Loyalty Program?

Knowledge, experience and innovations are the keys to success here. Our flagship framework L1 is the epitome of all of the elements stated above. With over a decade of undivided focus and attention to loyalty, Loyltwo3ks has gained an in-depth understanding of client’s business challenges, and mastery of designing programs that ensure success!

We offer cutting-edge and unique solutions to a wide range industry verticals from auto to retail, construction to logistics with our high-performance ecosystem backed by proven Program Management to suit every single client’s needs - globally.

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