Let us talk loyalty. Well, not the human kind (although that’s equally important) but the business kind that you cultivate through a robust loyalty program management software. However, if your knowledge about loyalty program is limited to customer loyalty, think again.
We're diving deep into the world of channel partner and last-mile advocate loyalty programs – the unsung heroes who move your product and champion your brand. These back-end stakeholders are the ones driving the growth of your business.
However, when picking a loyalty management tool for your business, there are certain shortcomings that are preventing you to maximise the outcomes from these programs. If you want to join the 68% businesses that are investing in channel partner retention, the right loyalty tool can be a stepping stone.
1. Focusing Only on Points and Discounts—And Ignoring Real Engagement
The biggest foul move when choosing a loyalty management system is only focusing on points, cashback, and discounts. Unlike your customers who can be persuaded with them, your channel partners won’t.
Your channel partners aren’t looking for “free stuff”. Instead, they are looking for business growth opportunities and recognition for their efforts.
How 1Channel Solves This?
1Channel’s loyalty management software (LMS), goes beyond points and discounts. There are a lot more to explore, including tiered rewards, performance-based incentives, training, certification rewards, gamification, etc.
2. Choosing a One-Size-Fits-All Solution
A loyalty program for your channel partners can’t be a “one-size fits all” situation. In fact, a kind of loyalty program that’s yielding amazing returns for one industry might not yield the same returns for your business.
For example, the channel partners from different industries like FMCG, manufacturing, telecom, and retail all have different motivations, sales cycle and engagement pattern. This explains the need for a personalised loyalty management program instead of a “universal” one.
How 1Channel Solves This?
1Channel’s LMS is highly customisable, developed to fit varying industries and partner hierarchies. You can avail unique features like custom reward structures, industry-specific engagement models, localised rewards, etc.
3. Ignoring Ease of Use—A Clunky System Will Kill Engagement
Your channel partners don’t want to go through five different screens to check their reward balance. Not only is it frustrating, it is futile. So, one of the biggest mistakes you are probably making when choosing a loyalty management tool is not prioritising the ease of use or the user interface.
The key features when it comes to user experience of an LMS are simple, mobile-friendly, and easy to navigate. If its too complex, your channel partners will most likely abandon it.
How 1Channel Solves This?
1Channel LMS is designed with a mobile-first design, which enables the partners to track their rewards on the go. You also get access to intuitive dashboards and a quick redemption process, which makes the software effortless for partners to engage, earn, and redeem without confusion.
4. Neglecting Data-Driven Insights
If you are not tracking the effectiveness of your loyalty program, how do you even know its working? Many businesses do this mistake when choosing a loyalty management software. You need to choose a tool that offers factors like real-time analytics.
Having access to quantitative data allows the businesses to measure success and optimise the rewards too without any confusion.
How 1Channel Solves This?
1Channel enables the businesses to monitor engagement levels wherein you get to know who is redeeming and who isn’t. You also get to analyse sales impact and keep track of influence partner behaviour and also identify the top performers, enabling you to personalise the incentives for them.
5. Overcomplicating the Rewards System
A lot similar to the user experience part, you don’t want to overcomplicate the loyalty programs. For example, if your channel partners are confused about the redeeming process and vague point conversion criteria, they are bound to abandon the entire program.
Not just that, long waiting periods can also kill enthusiasm, making the entire ordeal even more confusing.
How 1Channel Solves This?
1Channel LMS keeps things simple and transparent with clear earning rules, instant reward tracking and quicker redemptions of the rewards too. This ensures that the partners stay motivated and engaged too.
6. Failing to Integrate with Existing Systems
For any business, the rewards management software isn’t the only tool in their operations. In fact, there are several accessory tools like sales force management, ERP, CRM, and the list goes on.
If your LMS doesn’t integrate with the existing systems, you are creating manual work and inefficiencies, which, in turn, leads to data silos, delays and errors too. You want smooth, automated tracking of the loyalty programs instead of having to put in manual efforts.
How 1Channel Solves This?
1Channel’s loyalty software is developed to seamlessly integrate in with your existing systems. Be it with CRM and ERP for real-time data sync or with sales tracking systems to automate partner rewards, 1Channel takes care of all the individual needs.
7. Offering Rewards That Don’t Excite Partners
Roughly 73% of the channel partners express dissatisfaction with the loyalty programs the businesses offer. Given how large the disparity is, it is likely that the rewards and incentives you are providing are not catering to the interests of the channel partners.
This is a big mistake several businesses commit when they choose an LMS. Generic rewards like gift cards don’t work for all partners. Some prefer cash, others value exclusive business perks. This means that if your rewards don’t match partner needs, your program will fail.
How 1Channel Solves This?
The main USP of 1Channel’s loyalty program management software is the customisation features. Depending on the business or the industry you operate in, you can customise every aspect of your channel partner loyalty programs, ensuring that they are motivated through and through.
8. Forgetting to Communicate and Promote the Program
Often, businesses have a loyalty program that most channel partners and last mile advocates don’t even know of. How do you expect a good engagement on the programs if people aren’t aware of its existence?
In short, a poorly communicated program is as good as non-existent. So, when choosing and implementing an LMS, you also need to be vocal about it to your channel partners.
How 1Channel Solves This?
With 1Channel’s LMS, the channel partners and last mile advocates that are part of the business’s network are already enrolled and informed about the loyalty programs through automated notifications. Not just that, our team also facilitates an onboarding session to educate the partners about the program to ensure maximum participation and awareness.
9. Failing to Adapt and Evolve
Market dynamics change. So, if the loyalty management system you are choosing is static, it will become irrelevant after a certain period.
Hence, the biggest mistake a business should avoid when choosing an LMS is picking a tool that comes with limitations and no room for growth.
How 1Channel Solves This?
1Channel LMS grows as your business grows. From real-time program updates to partner feedback loops and expansion of the programs to accommodate more channel partners, 1Channel does it all. The customisation also keeps the program fresh and effective.
10. Ignoring Fraud Prevention
Some partners exploit loopholes by faking transactions or gaming the system. While it might not be the case with every business or every channel partner, you can never be too alert.
So, when choosing an LMS, you need to ensure that in case situations or instances of fraud occur, there should be enough resources or features in place that will ensure prompt prevention of the said fraud and ensure a fair and transparent reward system for the channel partners.
How 1Channel Solves This?
1Channel’s loyalty program includes features like multi-tier verification system for redemptions to prevent frauds. There are audit trails in place, which keep track of suspicious activities too.
Get Loyalty Right with 1Channel!
With so many different loyalty program management software available in the market, settling on one becomes a confusion. You want to ensure that all the features that you foresee in your channel partner loyalty program are in place in the final loyalty system that you deploy for your business.
1Channel’s holistic and customisable channel partner loyalty program solutions take care of every aspect. From seamless automation and personalised partner engagement to data-driven insights and fraud-proofing, we take care of it all.
Want to build a highly successful partner loyalty program? Book a demo with 1Channel today!
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