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It is very true that there is no one-size-fits-all loyalty program. Especially not in the business-to-business industry. The B2B space is such a specific market with a narrower audience, so it must be treated as such. That means audience segmentation and personalized incentives are that much more important. This study will review how Annex Cloud helped two industry-leading companies build out their B2B loyalty programs and what impact it had on those brands
Challenge
Though the strategies may differ, there are several common goals of a B2B loyalty program. These businesses both needed to increase customer spend and increase customer lifetime value. This can be challenging in B2B because the market is not only competitive but niche as well. They wanted to build brand advocacy and basically create a community of ambassadors.
Solution
Every loyalty solution has its challenges but B2B requires another level of personalization. Both of these companies opted for Annex Cloud not only because we have a unified marketing platform with customer loyalty, user-generated content, and referral marketing capability, but also because we work with businesses to create a custom implementation strategy.
Annex Cloud also helps companies nurture their relationships with existing customers through personalized incentives, which in turn increases customer spend and average customer lifetime value. It’s about following the customer journey from beginning to end and building a true community around their B2B brand.
B2B Rewards: The key to rewards in the business-to-business space is allowing your customers to sample your products risk-free. If you offer an impressive product catalog with a great loyalty offering, they are more likely to purchase. It’s a low risk scenario if built surrounding high-margin products. This B2B model implemented by Annex Cloud has proven to help support sales and drive revenue.
Annex Cloud Products Used
Loyalty Experience Manager
Results + Benefits
Client A: Consumer Electronics
Small Businesses have signed up for our loyalty program
Increase in repeat purchase rate
Increase in customer lifetime value
New brand advocates for our client
Client B: Physician Loyalty
Decrease in discounts
Of business customers signed up through this program
Increase in customer lifetime value
Increase in customer lifetime value
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