Consumer Brands swiftly move products from manufacturing facilities to end users facilitated by channel partners. Most brands recognize channel partners as the key element to succeed, and they need to ensure that they are highly motivated.
Existing Incentive Programs are Invoice-based Discounts, Rebates, Bulk Discounts, Lucky Draws, etc., which results in limited engagement with Channel Partners. The Trade Schemes of these brands are inflexible and do not cater to the needs of Channel Partners.
On the other hand, some brands are revamping their Loyalty Program with Technology. Digitized end-to-end Channel Loyalty and Engagement Platform with specially curated channel design and strategy, rewards, program management, and analytics to help drive measurable results and build profitable relationships with the channel partners.
Channel partners are responsible for a large percentage of revenue, making partner rewards and incentives a crucial consideration for brands. With a digitized loyalty program, brands can create, execute, and personalize Channel Partner Loyalty Programs that lead to more engagement, higher channel sales, and improved brand experience to motivate Channel Partners to perform better.
Building better Relationships with Channel Partner using Digital Loyalty Platforms:
- Personalisation & Tailored Rewards – Digital loyalty programs allow businesses to add a personal touch to loyalty programs and strengthen partnerships with channel partners. A highly personalized reward engine motivates channel partners to sell more of the brand’s products.
- Monitor Channel Partner Purchasing Behavior with Real-time Analytics – All loyalty transactions are collected in real-time, so it becomes easy for businesses to monitor trade campaigns and loyalty management. Brands can gain vital insights about their distribution network’s purchasing behavior on an analytics dashboard.
- Scalability & Adaptability – Digital reward program gives an ability to upgrade and capture the market at scale with the help of the latest technology and predictive analytics. Digital Programs that support current business and scalability for future growth are preferred over obsolete rigid incentive structures. This helps brands adapt even in the face of future technological advancement.
Embedding Gynger Platform to your Channel Partner Strategy!
With O4S’ Gynger Platform, Brands launched Channel Partner Loyalty Programs in a digitized format. Gynger Platform automates the loyalty management and rewards offered. Brands such as Akzo Nobel and Honeywell have launched the loyalty platform to run targeted loyalty schemes for channel partners across various countries. Gynger has more than 400k channel partners engaging with more than 50k loyalty transactions daily. These brands get real-time updates and data analytics on scheme performance, reward claims, and disbursals. With a DIY format for loyalty and rewards management, Gynger is one of the most efficient platforms for digital loyalty programs.
Know more about the digital transformation of contractor rewards at AkzoNobel and Honeywell usingO4S-Gynger SaaS platform, here.