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How to Tap into the Channel Partner’s Emotion Through Loyalty Programs?

Creating a loyal channel partner base in the B2B market is more important than ever. With countless options available to consumers, building a long-lasting relationship with them can be the key to sustainable success.

Building a loyalty program is more about just offering fantastic products or services. It’s about tapping into the emotional drivers that motivate customers to return repeatedly. In other words, you must tap your product “Shopping Mission.” In this blog, we’ll explore the psychology of loyalty and offer tips for creating deeper connections with them.

Understanding the Psychology of Loyalty

Loyalty is a rational choice. Channel partners engage with a brand because they believe it offers the best value, quality, or convenience.

 1. Trust:

The truth is that loyalty is primarily an emotional decision. B2B Channel partners stay loyal because they feel connected to a brand that goes beyond the practical benefits.

At the core of this emotional connection is trust. When partners trust a brand, they are more likely to overlook small mistakes, be forgiving when problems arise, and recommend the brand to others

 2. Sense of Belonging: 

But trust isn’t the only emotional driver of loyalty. When identifying with a brand, channel partners also feel a sense of belonging. They feel the brand reflects their values, personality, or aspirations. They feel that they are part of a community of like-minded people.

“Sense of belonging creates a powerful emotional connection that can be difficult for competitors to break.”

Creating Deeper Connections with Channel partners

Now the question arises, how can you tap into these emotional drivers of loyalty and create deeper connections with your targeted partners? Here are some tips to get you started:

 1. Authenticity:

It is a crucial element of building trust. Channel partners want to know you are reliable, transparent, and genuine. Avoid making promises you can’t keep, and be upfront about your limitations. When you make a mistake, own up to it and take steps to make things right.

 2. Consistency 

Consistency is another essential element of building trust. Channel partners want to know what to expect from you and want you to deliver on those expectations every time. Ensure your brand identity, messaging, and experience consistently across all channels a touchpoint.

3. Community Building:

Encourage your channel partners to feel like they are part of a community of like-minded individuals. Create opportunities to connect, such as online forums or social media groups. Host events or meetups where they can share their experiences.

 4. Personalized Experiences: 

Personalization is a powerful way to create a sense of belonging. Use channel partner data to tailor your messaging and experiences to each individual’s preferences and interests. It could include personalized product recommendations, special offers, or emails or messages.

 5. Appreciation:

Channel partners want to feel valued and appreciated. Ensure you thank your clients for their business and offer rewards or incentives to show appreciation. It could include a loyalty program, exclusive discounts, or unique gifts.

 6. Feedback and Grievance Resolution:

Ensure you actively listen to your channel partners and respond to their feedback. Use surveys, social media listening tools, and other feedback mechanisms to understand their needs. When they reach out with complaints or concerns, respond promptly and take steps to address their issues.

By focusing on these emotional drivers of loyalty, you can create deeper connections with them and build a base loyal to your brand for the long haul.

Conclusion 

Every organization is moving toward Loyalty Programs. So they can increase their channel partner engagement. While building it, you should have to check all these practices. It will ultimately bring you revenue growth.

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How to Increase Channel Engagement through Gamification in Loyalty Platform

Gamification is the easiest way to engage your channel partner. But while creating a loyalty and reward program, you must select engagement strategies that engage your specific channel partners.

Gamification is also known as “Game-like mechanics”. It is the process of integrating game elements into non-gaming activities to increase user engagement. Gamification has been applied in various industries, such as education, marketing, and customer service.

In this blog, we will discuss how gamification can enhance customer engagement and increase loyalty.

Set Clear Goals and Rewards

The first step to gamify your b2b customer engagement platform is “Setting clear goals and rewards.”

It is important to identify the specific actions you want your customers to take and give them rewards. This can include points, badges, and leaderboards to virtual goods or exclusive discounts.

| “Rewards are for distribution, then Give it to your channel Partners.” Anonymous |

By setting clear goals and rewards, customers are motivated to continue engaging with your brand and will be more likely to become loyal customers.

Implement a Points System

One of the most common gamification strategies is using “The Points System” in your loyalty and reward program.

Points are a simple and effective way to incentivize customers to engage with your brand. You can award points for activities such as completing a purchase, sharing content on social media, or referring friends. These points can be redeemed for rewards, such as discounts or exclusive products.

By implementing a points system, you can encourage B2B channel marketing that benefits your business while providing them with a sense of accomplishment and reward.

Use Badges and Leaderboards 

Badges and leaderboards are another popular gamification strategy.

  • Badges are digital rewards that customers can earn for completing specific tasks or achieving certain milestones.
  • Leaderboards are public lists that show how customers rank in terms of points or badges earned.

By incorporating badges and leaderboards, customers are motivated to engage with your brand to earn recognition and status among their peers. This can increase engagement and a sense of community around your brand.

Provide Feedback and Progress Tracking 

Gamification is about creating a sense of accomplishment and progress for the user. Providing feedback and progress tracking is an effective way to achieve this. For example, a progress bar that shows how close a customer is to earn a reward can be a powerful motivator.

Similarly, providing feedback on completed tasks or purchases can help customers feel a sense of accomplishment and encourage them to continue engaging with your brand.

Make it Social 

Social engagement is a key aspect of gamification.

  • Social media, intertwined with gamification experiences, can achieve something great where customers can interact with each other and share their progress and achievements. This can be done through social media integration, customer forums, or user-generated content.

This way, channel partners are more likely to feel connected to your brand and will be more likely to become loyal channel partners.

Make it Fun

Fun is the most important aspect of gamifying the loyalty and reward program. Customers will only want to participate if your gamified experience is enjoyable and engaging.

For this, you have to use eye-catching graphics, sounds, and animations to create a playful atmosphere. You can also incorporate storytelling elements to create a narrative around the customer’s journey.

By making it fun, you can create a positive association with your brand and encourage customers to continue engaging with you.

Test and Iterate 

Everything needs testing and a continuous process of upgradation.

| “Everything we do is “Hit and Try” because no one knows which will help one in the market.” Anonymous |

Collect customer feedback and monitor engagement metrics to see what works and is not. Use this information to make improvements to your gamification strategy and continue to refine it over time.

By constantly testing and iterating, you can create a gamified, effective and enjoyable experience for your customers.

A bonus advice because you reached here:

  • B2B businesses should also consider the importance of tracking and analyzing gamification data to optimize the effectiveness of their strategies. By monitoring performance metrics and using data analytics tools to gain insights into partner behavior, businesses can refine their gamification strategies over time and continue to drive engagement and growth.

Overall, gamification can be an effective way to increase channel engagement and drive growth in the B2B space, as long as it is executed with a thoughtful approach that focuses on delivering value and meeting the unique needs of partners and distributors.

 

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How to Boost Channel Partner Engagement through Loyalty and Rewards Program

For a distribution-led business, having channel partners is not enough. It is also important to keep them engaged and motivated. One of the best ways to do this is through loyalty and reward programs.

In this blog, we will discuss some tips for creating a successful channel partner loyalty and reward program.

Channel partners are one of the basic requirements for your distribution-led business. They can help increase your reach, bring in new customers, and boost sales. With the rise of e-commerce and mobile shopping, the market is changing rapidly.

So, businesses are seeking new ways to reach their customers and increase their sales and revenue.

Loyalty and reward programs are the easiest way to do that as businesses have the opportunity to increase the number of channel partners and their engagement with the business.

Yet, building a successful program is a challenge in itself. So, here are 6 tips that will help you build a great loyalty program.

Choose Your Enrollment KPI

Before you can start your B2B loyalty program, it is important to decide, what your enrollment key performance indicators (KPI) will be.

There are two main types of KPIs – closed and open.

  • Closed KPI meaning is specific goals that you have set for your channel partners, such as achieving certain sales targets or reaching a certain number of customer referrals.
  • Open KPIs are more flexible and allow channel partners to earn rewards for a variety of different actions.

Decide which type of KPI will work best for your business and which will provide better ROI.

Make the Sign-Up Process Easy and Nice

After choosing your KPIs, the next step is to “Easy and straightforward sign-up process.” This is important because a complicated or confusing sign-up process can lead to loss of interest before proper beginning.

  • You can have more information once the channel partner has sign-up. For that, you can use extra rewards for profile completion.
  • You can add various engaging activities to get specific information too. Just make sure it is engaging and rewarding

So, make sure that the sign-up process is simple, fast, and straightforward, with clear information displays.

Offer a Tiered Reward Program

Another way to keep your channel partners motivated is to offer tiered reward programs. This type of program motivates partners to earn rewards at a higher level. This ultimately leads to higher sales and
revenue.

  • Partners who hit higher sales targets will receive a higher commission rate.
  • Those who reach a certain number of customer referrals will receive a bonus or special loyalty point.

This type of program rewards high-performing partners and provides motivation for partners to continue working hard and growing their businesses.

Use Exclusivity as an Asset

Exclusivity can be a powerful tool in a channel partner loyalty and reward program. It offers special rewards to partners who perform exceptionally well. You could offer an exclusive product line or a special training program.

This type of program not only motivates partners to perform better, but also helps to build a strong, loyal relationship between you and your channel partners.

Encourage Customer Exclusivity

Along with channel partner exclusivity, it is also important to encourage customer exclusivity. This means encouraging your retailers to focus on building long-term relationships with their customers, rather than just making one-time sales.

  • You can offer special rewards for customer retention. This type of program will not only help to build stronger relationships with your channel partners, but also with your customers

Offer a Referral Program

You can consider offering a referral program. This type of program rewards channel partners for referring new partners.

  • You can offer a commission or a special discount for each referral, or even a special prize for the partner who refers the maximum number of new partners.
  • It not only encourages partners to spread the word about your business but also helps to increase your reach and bring in new customers.

Conclusion

Increasing channel partner loyalty and rewards requires a thoughtful and strategic approach. By focusing on your channel partners’ needs and providing value and incentives, you can create a mutually beneficial relationship that drives business growth and success for both parties.

Remember that building a strong and loyal channel partner network takes time and effort, but the reward of increased sales and revenue is well worth it.

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How Web3 will Help Loyalty and Reward Programs to Reach New Heights

Web 3.0, also known as the decentralized web, has the potential to revolutionize many industries, including loyalty programs. The current brand loyalty program industry entangled with Web 3.0 promises to bring it to new heights.

Loyalty and reward programs have been around for a while. They offer good rewards and sufficient channel engagement to B2B business partners. The loyalty program has great potential to be unlocked. And Web3 is here to do that with blockchain technology.

Let’s discuss how it will empower Loyalty and reward programs:

Transparency and Trust

Currently, loyalty and reward programs are handled by centralized professional organizations. These provide sufficient transparency to their channel partners.

Web3 docs offer increased transparency and trust for loyalty programs. Blockchain technology records all transactions in a public ledger. It makes tracking their rewards and points easier.

This increased transparency and trust will encourage channel partners to participate in loyalty programs, as they will know how their reward points are being managed and redeemed.

Increased Security

One of the biggest limitations of existing loyalty programs is personal information and rewards data security. With a centralized system, data is always vulnerable to hacking and breaches. Thus, in critical condition.

Web3 Token can help channel partners access their reward cards without any PII. This will separate the rewards and personal information. Along with a decentralized network, security will have a boost like never before. There is no central information center, making it much harder for hackers to compromise the system.

Frictionless Integration with Other Services

The loyalty & reward program is integrated with platforms, and the service provider always tries their best to provide seamless services. Sometimes, some aspects create minor friction.

Web3 will provide frictionless integration with other services and platforms. This means that users will be able to earn rewards and points from various sources, making it easier to accumulate rewards and participate in loyalty programs.

This integration will also allow for more personalized rewards through a wider range of data about users and their behaviors saved in Web3 tokens. This will qualify for more relevant and appealing rewards, making the overall experience more enjoyable for users without compromising any personal information of channel partners.

Improved Data Management

Every loyalty program provides data management to show clients its effects. For that, data is managed in the most efficient and simplified manner. In comparison, it keeps all the data on a centralized server.

With Web 3.0, data will be managed more efficiently and securely. The decentralized database will make data access, management, and organization easy. This will reduce the risk of data breaches and allow quicker and more efficient data management.

There are always thinkers, “if it isn’t broken, then why change it.”  And they will always prefer traditional and obsolete technology.

But, web3 is here to remove some frictions that existing reward program industries have. With decentralized systems and the integration of blockchain and smart contract technology, loyalty programs will offer a more secure, efficient, and engaging experience for channel partners.

It’s an exciting time for the loyalty program industry, and we can’t wait to see how Web 3.0 will change the landscape and bring much-needed innovation to the industry.

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Almond Solutions launches Channelverse – A channel engagement and experience platform

New Delhi [India], October 12 (ANI/NewsVoir): Almond Solutions, a channel engagement, and experiences company, today announced the launch of a channel engagement platform – ChannelVerse™. The platform empowers enterprises to increase revenues by effectively engaging channel partners and sales teams through utility experiences and engagements. Companies can use the platform to launch highly customized virtual events and exhibitions, loyalty and reward programs, product education initiatives, and digital sampling activities.

The mobile-first web platform integrates gamification, messaging tools like WhatsApp, advanced data and AI algorithms, and third-party APIs to help companies go beyond conventional tactics to excite, educate, engage, and reward the entire channel in new and exciting ways. Additionally, the platform enables channel partners to place order requests and companies to monitor fulfillment. Currently, more than one million channel partners are active on the platform.

Commenting on the launch, Abhinav Jain and Apurv Modi, Co-founders of Almond Solutions jointly said, “Channel is the backbone of every distribution-led organization. Sustaining a meaningful conversation, providing new tools and services, and always-on engagement is of strategic importance for revenue growth. This is where ChannelVerse helps any company to leverage the power of technology, data, and creativity to launch programs in a short span, and measure efficacy from the word go. Customer needs are changing rapidly, and organizations need to be more agile, creative, and data-driven. Our vision behind ChannelVerse is to replace the conventional channel engagement models with a solution that provides high ROI and business insights, ensures consistency, and closes all inefficient gaps caused by elaborate human intervention. ChannelVerse makes it easier for organizations to have sustained communication and a valued relationship with even a small-scale shopkeeper in a remote part of the country.”

ChannelVerse was launched as an unbranded beta platform in 2021 and is now being deployed by India’s leading FMCG and CPG brands. Organizations are using it for a variety of use-cases such as channel loyalty and rewards management, organizing hybrid events, training their category influencers, launching region specific sales promotions simultaneously, conducting retail audits, and educating shopkeepers on shelf-management. The platform can be used as a standalone application or integrated in existing systems.

For more information, you can reach out to (mailto:channelverse@almonds.ai).

Almond is an engine that helps companies efficiently accelerate distribution-led revenue growth. Since 2020, Almond Solutions is helping companies empower and scale their channel engagement. Almond’s product platform delivers hybrid and virtual events with a highly differentiated experience, product education initiatives, and innovative loyalty and rewards programs. Almond Solutions is headquartered in Gurugram with global operations in US, Africa and Europe.

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US-Based Hexa Global Ventures Bets On Engagement-Tech Platform Almond Solutions

Almond Solutions, an engagement-technology platform, has raised an undisclosed amount in its Seed funding round from US-based early-stage investor Hexa Global Ventures, the company said in a statement.

Almond Solutions plans to use the funds for product innovation and business expansion in new verticals and markets. The company also plans to scale-up operations of its software as a service (SaaS) and platform as a service (PaaS) product and hire more. Almond Solutions aims to reach $100 million revenue within the next two years, the statement said.

Almond Solutions, founded in 2018 by Abhinav Jain and Apurv Modi, builds customer-engagement solutions and platforms. It is a part of the ATechnos Group, an organisation which has a presence in gaming, Internet of Things (IoT), and content distribution. Almond’s engagement tech platform provides video, virtual, and digital engagement modules, last-mile digital solutions, and mar-tech products and services.

Abhinav Jain is a Harvard University alumni. Both he and Apurv Modi completed their MBA from IIM Bangalore. Jain co-founded ATechnos in 2012, and Modi is the Managing Director of the firm.

The company has been expanding operations and aggressively adding new platforms. Almond Solutions had launched a hyper-local marketing platform, named Vingage, for brands to engage with offline influencers earlier this year. It also launched Vouch, a digital-sampling platform and VGift, a loyalty and customer rewards solution platform.

In 2020, the company launched another platform named Virtex, a customisable virtual and hybrid events and experiences platform, which won five Guinness World Records, the company said. The pandemic has accelerated the usage of digi-tech mediums, and Almond Solutions enables companies to educate, engage and enable their customers to gauge the return on investments.

“We always believed we had a great SaaS or PaaS platform, but being a profitable company when it came to investment, we wanted a partner who’d not just bring the growth expertise, but also an ability to understand our ethos. With HEXA, we have begun our venture strategy for the American and European markets,” said Jain, co-founder and CEO (chief executive officer), Almond Solutions.

Hexa Global Ventures currently has a portfolio of 25 international SaaS startups and platforms. The company, based in Texas, also provides advisory, technology, operations, sales, marketing, administration, education, and training support to companies.

“By building an engagement tech platform and working with organisations to address business challenges, Almond has created a strong presence in India. Now, the timing couldn’t be better for their international expansion,” said Luis Rivera, Managing director, Hexa Global Ventures.

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Almond Solutions to represent India at the Metaverse Summit in Paris

Gurugram (Haryana) [India], July 12 (ANI/SRV): Almond Solutions, one of India’s leading channel engagement and experiences platform companies has been invited (amongst a selected few from Asia) to the Metaverse Summit 22 in Paris, France to showcase its metaverse capabilities to investors, corporates, and meta-enthusiasts. The company will discuss and showcase glimpses of its B2B and sales channel-focused metaverse solutions.

Almond with its Virtex platform has been redefining virtual and digital experiences way before COVID struck and has been at the forefront of B2B mar-tech innovation. With its decade-long B2B engagements experience, Almond is focusing on business, commerce, and retail in the metaverse. Almond’s under-development IP – ChannelVerseTM is a metaverse for retail, sales and supply chain encompassing product education, loyalty, B2B influencer engagement and sales enablement.

Commenting on Almond’s projects and visit to the Metaverse Summit, Abhinav Jain and Apurv Modi, co-founders of Almond Solution jointly said – “The trip to France is an opportunity for us to tell the whole world that India will be at the forefront of biz and tech innovations in this decade. We will be in front of global investors, developers and creators and we want to tell them that metaverse is not just for fun, games, and marketing gimmicks. It’s a limitless business and commerce opportunity for both legacy and challenger players that can unlock revenue and engagement avenues. We are just scratching the surface and are excited to build the future”.

Almond Solutions launched its operations in the USA earlier this year and is in discussion with VCs for pre-series A round to accelerate its growth internationally.

International Summit celebrating Technology and Creativity around Metaverse is scheduled on 16-17th July in Paris, France. The two-day summit will focus on various metaverse tracks where Almond will be showcasing the creative, engagement and tech models powering ChannelVerseTM, and engaging investors and developers for partnerships.

Launched in 2020 with its headquarters in Delhi-NCR and operations in US, Africa and Europe, Almond Solutions helps companies power and scale their channel engagement. Brands and organizations use Almond’s platforms to – conduct hybrid and virtual events that deliver a highly differentiated experience, provide product education, and launch loyalty and rewards programs.

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How to Build the Right Team for a Hybrid Event

How to Build the Right Team for a Hybrid Event

Hybrid events, those created by bringing together a host of traditional and digital techniques, are rising. But for organizations taking the plunge into a hybrid for the first time, putting together a team of experts can seem overwhelming.

While planning a hybrid event, questions generally come to mind – whether you need two separate teams? Should you be contracting specialists? And what skills and roles does one require to build the right team? Hybrid events are becoming more popular, but with different digital and physical requirements, putting together the team can be confusing.

If you’re about to run a hybrid event, here’s what you need to know about building the right team for your event. These are the points that Almond Virtex follows while planning any hybrid events.

Event Organizer

If you’re planning a hybrid event, you should know the right kind of team to build. This doesn’t mean you need a large team for your hybrid event. But it does mean that you need a director/ organizer who has the overall responsibility and the power to get things done.

The Hybrid Event Director should possess strong communication skills, the ability to collaborate with other departments, and a commitment to planning sessions that bring in the most revenue.

Logistics

Once the programme is finalized, it’s time to sort the logistics. Getting the logistics right for your hybrid event is integral to your overall success. While the accentuation might appear on the in-person side of things, it’s vital that no logistics are missed about the virtual part.

Once the event is finalized, all logistical details must be carefully planned. All aspects of your hybrid event need to be considered so that your virtual component has all its logistical bases covered.

Camera and Sound Operators

Most people prefer to attend in-person events, but with online attendance growing (nearly 70% of events organizers find it’s more challenging to keep attendees engaged during event sessions), you need to make an effort to engage everyone — whether they’re in-person or not.

Choose the right hybrid event platform that provides different tools and features to make your event engaging and interactive.

Sponsorship & Exhibitors

Sponsorship and exhibitors are two of the most crucial aspects of a conference. Therefore, one team should be assigned for your sponsorship and exhibitor’s work. Who can spend time getting sponsors on board for either the virtual or in-person event? They would also be able to work autonomously, thus freeing up some of your time and giving you room to work in other areas of the event.

Marketing & social media

Social media campaigns need to be planned from the start of the event and cannot be an afterthought. However, you should note that many people will attend the event virtually through live cast streaming.

As such, you should plan your social media campaign to cover the whole event and the needs of both in-person and virtual attendees. It’s a good idea to create a set of planning documents to be used as part of your overall marketing campaign.

Data Analysis & Insights

Data is collected when someone registers, signs up for a session or participates in a poll. Data is a currency that seems valuable to many organizations out there, and this is why they want to collect it first and then try and use it. They want to look at what they have, discover insights and trends, and then intelligently use this information. If you want to get the most out of your data at an event, you must analyze it correctly, read between the lines, and make recommendations based on that.

You can also go through the Hybrid Event FAQs to get a better idea of hybrid events and how they need to be planned, and what all areas need to be focused on.

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5 Powerful Product Launch Event Ideas

5 Powerful Product Launch Event Ideas

We all know that events are great for exposure, but they’re also a perfect way to show the world who you really are. Whether it’s a panel, virtual conference event or trade shows, events set the stage for exposure with an added human touch.

Product launch events can be a great tool to use in order to build interest in your new products and services. If done correctly, they can create immense excitement and hype around your products, leading to very positive PR, social media engagement, and credibility with prospective clients.

Companies can launch their product either through virtual event platforms or hybrid events platforms.

What are Product Launch Events?

A product launch is when a company brings a new product or service to market. A successful product launch starts well before the actual release date, and the effects of one will be felt long afterward. It will build anticipation, facilitate an initial influx of sales, and establish momentum that a company can expand upon.

With so many different creative ways to introduce your latest product, you can differentiate your product from the crowd and make an impact effectively.

5 Powerful Product Launch Event Ideas

Here are some of the best event planning tips for a grand product launch that in essence make it different from your average going away party though.

1. Create Buzz about the Event

Businesses have long recognized the value of using social media to announce a new product. Promoting such information creates excitement and connects your business with a larger audience, all while growing brand awareness.

2. Create Unique Hashtag

Encourage everyone at the event to use that hashtag when tweeting, posting or commenting about your event. Doing so will make it easier for followers to track what’s happening at the event and help you create buzz around your brand.

3. Organizing Contests

A well-organized and designed contest can be a great way to get people involved in your product launch. Encourage them to share their opinion or try to guess something about your product. Challenges are a great way of being creative when organizing contests for your products.

4. Do a Pre-Event Survey

As a host, you must be prepared with relevant data and information about your product. Get started with the pre-event survey and the results can give you answers to all those questions that have been on your mind.

5. Have a follow-Up plan

The launch of a new product is an exciting occasion and should definitely be celebrated. But, if you want to reap the maximum benefits from your product launch event, it’s important to follow up in the right ways.

As the necessity to accommodate remote and hybrid events grows, creating a memorable product launch event has become more difficult. However, that doesn’t mean you have to adhere to the same old dull tried-and-tested model that relies exclusively on your product to steal the show. An excellent product can be elevated with the appropriate buzz and become something that everyone wants.

If you are planning to host your product launch event through virtual or hybrid event platforms then there are some platforms like Dreamcast, vFairs, Almond Virtex, Hubilo, Airmeet that provide you with all-in-one solution for any and every event.

Source by: Almond Virtex

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