Loyalty and Incentive Solutions For Manufacturers

According to the National Association of Manufacturers, in 2019 manufacturers in the United States accounted for 11.39% of the total output in the economy and employed 8.51% of the workforce. New growth and opportunities are attracting new competitors and as a result,  manufacturers are finding it more challenging to retain and grow their customer base.

Customer Loyalty Is Critical For Business Success 
In a Bain & Company study B2B companies with high customer loyalty were linked to higher sales growth, increased market share, more employee engagement and retention, and greater profitability. It was also found that such loyalty leaders tend to grow 4 to 8 points above their market’s annual growth, further demonstrating the value of investing in customer loyalty and incentive programs.  

Yet 68% of B2B executives say customers are less loyal than they used to be. Investing in customer loyalty and incentives programs is a proven method for accelerating organic growth; however manufacturers struggle with out-dated technology and inadequate analytical tools that lack the modern capabilities for generating long-lasting customer loyalty. 

In this guide:

• Technology Is Lacking
  The majority of B2B purchases are driven by information; providing clear product recommendations supported by specific rationale was found to increase purchases by 86%.
• Channel Partner Relationships 
  Channel partners who act as advocates and provide product recommendations are vital to manufacturing companies' success.
• Four Ways Loyalty and Incentive Platforms Help Manufacturers