Loyalty and Rewards: Can B2B Catch Up?
Business Solutions New trends surrounding personalization and simplicity are beginning to permeate the business-to-consumer (B2C) world, but the business-to-business (B2B) arena is lagging behind.
Across both the B2C and B2B landscapes, behaviors and habits are changing, and new technological forces and cultural norms are evolving at a startling rate. To remain competitive, companies across every industry and every vertical must ensure that experiences are tied to a high degree of convenience, flexibility and, perhaps most importantly, a significant amount of relevance.
This is where the concept of customer loyalty is moving, and it’s an emerging trend that is reverberating throughout a number of B2C industries. However, many B2B organizations are still lacking in this respect. There are discrepancies between the lenses through which many B2B and B2C customer loyalty initiatives are viewed. The problem is that many in the B2B space have not yet embraced the same enlightened approach to loyalty.
B2C consumers are looking for emotional relevance, personal connections and trusting relationships with the brands. But B2B clients are also looking to build the same kinds of deep relationships with the organizations they work with.
Speaking the same language
The sheer “businesses speak” of B2B marketing often belies the very human element that comprises the foundation of every business. And some strategists are beginning to modify and combine the traditional B2B and B2C conceptualizations by reimagining the process as P2P, or person-to-person marketing. And, when considering our current marketing environment, this shift in perspective may be a more appropriate definition.
"Across both B2C and B2B organizations, the goal should be to foster trust, follow through on the brand promise and create a true sense of alignment..."
But regardless of the labels, the underlining idea holds true. Whether your organization is dealing with individual consumers or entire businesses, creating true loyalty is still about creating simplicity and building the emotional connections with the people who matter most to your organization.
Loyalty is not just an idea meant only for consumers. Loyalty is understood and respected by everyone, and this includes business partners, clients and employees alike. Regardless of the industry involved, it all comes down to knowing how to work with people.
There is a growing need to blur the lines between the traditional B2B and B2C loyalty marketing practices. And once these two concepts are more fully merging into one, marketers can begin crafting the personalized customer and client experiences that connect and resonate with authenticity.
In the end, it’s people that ultimately make the decisions, and the same modern concepts of loyalty apply equally. Across both B2C and B2B organizations, the goal should be to foster trust, follow through on the brand promise and create a true sense of alignment with those who engage with you at every level.