One of the key challenges that B2B brands have to overcome is the fact that they just don’t have as many customers as the average B2C brand. To put this in perspective, the population of the United States is over 300 million. Each of these 300 million people is a potential consumer. This is in stark contrast with the total number of American businesses, which is only 29.5 million – a number which actually falls to 5.72 million when you remove micro SMBs with no employees.
54% of survey respondents to a McKinsey Solutions Survey said they would consider increasing the amount of business they do with a company for a loyalty reward.
B2B brands have to be laser focused in their marketing efforts because they don’t have the option to cast as wide of a net and reel in a subset of a large market. B2B brands frequently spend less on mediums such as digital or television advertising, choosing instead to invest in a sales department who can directly engage the exact clients the brand is targeting.
Loyalty programs offer benefits to loyal buyers. Some businesses offer frequent-shopper discounts or points-based reward systems that allow customers to accumulate benefits with every purchase. Other companies offer incentives to obtain customer cooperation, for example, by paying customers for referrals. Such incentives offer many advantages.
About jenneblogger
Susan Elder is Senior Director of Marketing at Jenne, Inc., a leading value-added distributor of technology products and solutions focusing on unified communications and collaboration, data networking, video conferencing, premise security, the Internet of Things (IoT) and the Cloud, including equipment and software for the Enterprise and SME markets. She joined Jenne in 2012 after 25 years of experience in marketing and corporate communications for major companies and organizations, including the American Red Cross of Greater Cleveland where she served as Chief Marketing Officer, and Invacare Corporation, a global Fortune 500 company that manufactures medical products. At Jenne, Inc., Elder leads the company’s marketing function which provides marketing programs and services to the 180 technology manufacturers for which Jenne distributes products. Additionally, under her leadership, Jenne has developed and offers end-user lead generation programs for their partners, which incorporate best practices in content marketing, social media and inbound sales techniques. Elder’s expertise extends to branding, media relations, investor relations, digital and content marketing, market research and social media. She has earned certifications from HubSpot in Email Marketing, Content Marketing and Inbound Sales. She has received numerous marketing and communications awards, including the SoMe Impact Award at the 2013 Midwest Social Media Summit, as well as the Distinguished Marketing and Sales Award from the Sales and Marketing Executives of Cleveland. She has been named by CRN to its Women of the Channel list multiple times.
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