Technology has changed the way we shop, the way we travel and is well on its way to change the way we gift. Also, the use of technology in business has become a necessity. Now, what happens when we combine business with technological advancement in gifting? We get the most effective and efficient “reward program” for channel partners.
In the previous article, we talked about the Right Way to Reward Channel Partners using gift cards, rather than a limited range of merchandise. Gift card rewards hold a lot more value to the recipients as they have the freedom to buy something, they truly desire. This gift creates a long-lasting memory and keeps the channel partners engaged for a longer duration. But loyalty isn’t the only benefit that businesses get on using gift cards as rewards. There is a lot to gain if a company decides to roll out a Gift Card Reward Program by using the latest technology that Qwikcilver offers.
The biggest advantage is the ease of managing the reward program. And with this convenience comes savings – both logistics and time. Take for example QwikServx, a self-serve tool that enables companies to create, load and send physical as well as e-gift cards to their users. The tool fetches gift cards of multiple brands from the extensive catalog of Qwikcilver’s gift cards platform and makes them available for the client. At the other end, the tool dips into the underlying rewarding framework. This allows the client to access the performance of all the partners. They can then decide on which partners to reward and do so accordingly.
Another big issue that companies face is the lack of reliability on channel partner information as well as limited information on the secondary sales number. Again, technology can be used for facilitating channel partners to enroll in the rewards program. It is possible either through a web form or through a call-center. The next step is to enable the registered set of channel partners to access their profile and key-in data required to earn points. A microsite can be built with an easy-to-use workflow for channel partners to upload their purchase invoices. This allows the companies to capture the key metric of secondary sales data.
Once the invoices are uploaded, it is possible to digitize them and calculate reward points using Qwikcilver’s proven rewards framework, QwikServx . Upon approval from the client, the points are allocated to every channel partner. What’s more- you can schedule birthday wishes to the partner, send ‘progress cards’ to improve channel engagement and so on.
This was about enrolment and enablement of channel partners on the company’s reward program. The last and most important step is to engage the channel partners with suitable rewarding options. This is where the role of QwikCatalogx comes into play. QwikCatalogx makes available for the partners a choice of more than 100+ top brands, spread across 20 different consumption categories, to avail from.
As this well-established Gift Card Reward Program moves into the future with advanced technology from Qwikcilver, companies can expect not just a stronger channel partner relationship but also a great return on their investment.