We sat down with Glenn Shaw, Client & Business Development Director for New Zealand and Australia at B2B loyalty specialist Incentive Solutions, recently to talk about B2B loyalty marketing and how they're using auctions to disrupt the industry.
One area of specialty where Glenn has lots of experience is in using loyalty auctions to drive engagement and program success. Loyalty auctions are a powerful program tool, and we share this quick discussion with you so that you can get the info you need in less than ten minutes.
Using loyalty auctions is especially useful in the B2B, channel, or employee loyalty space because the member base is typically much smaller than in a consumer program. Fewer bidders means the participants have a great chance of winning and analyzing the auction results is faster and less burdensome.
Additionally, the point balance distribution across the entire membership is typically narrower than it would be in consumer markets. With more members having greater chances to win and the required points balance to get them there, the event turns out to be competitive, engaging, and fun.
Loyalty auctions are a great way to differentiate the reward experience in your program, plus did we say it yet, they're fun!
For a complete Guide to Loyalty Auction Best Practices, check out our previous article to learn more and download their guide for free.
In case you don’t know, Incentive Solutions has been providing loyalty services in NZ/AUS and parts of SE Asia for over 20 years. The company also owns and operates Reward Paths in the US, Canadian and Caribbean markets.