For many eCommerce brands, the term “multichannel strategy” may sound overwhelming, complicated, and the ROI may not seem worth the anticipated time required to implement. After all, many eCommerce or direct-to-consumer (D2C) brands rely on the simplicity of having a direct connection to their customers. Many alternative sales channels may add a disproportionate amount of work or risk when compared to potential benefits, but there is one sales channel all D2C brands need to consider when expanding to a multichannel strategy — B2B. More specifically, B2B gift cards and stored value offerings.
If your brand offers gift cards or has the capability to offer gift cards, then the B2B gift card sales channel can provide many key benefits such as increased brand awareness, new customer acquisition, and incremental sales. Participation in B2B sales programs is a standard strategy for many national, big box, and growing brands; and it should be for your brand too.
B2B gift card sales is a diverse channel with a myriad of opportunities. Some B2B programs are designed to support key employee initiatives such as engagement and rewards. Others, such as credit card rewards and affiliate-style programs, are designed to create loyalty within a specific consumer niche. No matter your target market or brand goals, there are B2B programs that can help you be successful. By leveraging programs focused on digital gift cards or digital stored value, your brand can take advantage of this opportunity without the added complication of maintaining specific inventory or even managing shipping. It’s not just an opportunity for your brand to be seen, but, importantly, can be a more level playing field for competing with large national brands.
When reviewing potential B2B partners it is important to understand who their core group of consumers are. This is different from traditional targeting on consumer-facing platforms such as social media or digital display services, where you are encountering a market that mimics the complexity of the world at large. Many B2B programs, on the other hand, corner a specific market, and, as a result, can be more personalized and curated to the end consumer. As a result, these programs can be an easy low-cost way to get your brand in front of all new audiences. Rather than paying for impressions and clicks for new demographics, some B2B partners such as Prizeout can get your brand in front of new customers without any investment until a customer turns into a purchase conversion.
By engaging with a B2B opportunity, not only does your brand get all of the benefits of increased awareness and sales, but the performance on the platform can be a treasure trove of data. These low-risk platforms make it easy for brands to test elements beyond targeting including creative assets such as advertising images, copy, and even strategic assets such as incentive amount. In fact, many brands utilize B2B programs to test key elements then implement their successes across their larger marketing strategy.
In the end, B2B programs are ultimately business to consumer, or B2C. They are bridges to end users and give them an opportunity to select your brand — committing to future purchases — and the learnings you glean from these programs can have a ripple effect across your entire marketing funnel.