Global Marketing

B2B Incentive Programs

The B2B incentive program is a system designed to incentivize or reward customers to encourage transactions.  This is also known as a B2B Channel Incentive Program or a Customer Loyalty Program. 

Selecting a Program

Some examples include rebates, discounts, free products, charitable donations, and SPIFs (sales performance incentive fund).  For instance, a vendor would be incentivized to sell more product if there was a cash reward for exceeding a sales quota in place.  A wholesaler might be incentivized to purchase more if there was a discount on a minimum order.

Program Creation Tips

Due to the personalized relationship culture for B2B companies, it is advisable to create custom tailored incentive programs for each of your customers.  Not only can this increase customer loyalty, but B2B customers particularly stay with businesses that can provide greater value and lower risks.

Send occasional gifts to show your appreciation in addition to the expected incentive program. Surprises are a great way to show your customers that you are willing to go above and beyond.   You can select your most loyal or long-term customers to participate in exclusive events, free trials and private access to new products.

All of these incentives need to be communicated effectively so that both parties understand the terms and conditions.   An onboarding process is the best way to introduce your B2B customer to all of your offerings.  If virtual, consider using an onboarding email campaign, a short video tutorial, a Q&A webinar, or a program FAQ.

Closing Remarks

Consider these tips to create a strong B2B incentive program to reward your partners.