Get Employees and Channel Partners Talking For Better Results

A recent study by Colloquy showed that consumers who participated in a loyalty program were 70% more likely to be champions for that companies products.  Some of the other "stats" from the study (free registration required) of over 6,000 consumers:

• 55% of reward program members are self-described WOM (word of mouth) champions.
• Only 32% of non-reward program members are self-described WOM champions.
• 68% of WOM champions in reward programs will recommend a program sponsor’s brand within a year.
• Actively participating reward program members are more than three times more likely to be WOM champions.

Here's where my head goes after reading this info – "would your employee and channel audiences exhibit the same behavior if they were participating in a 'loyalty' program?" 

Most consumers are employees (at least they used to be) and many consumers work within the channels companies use to sell and distribute their products – it only makes sense to me that these stats would "translate" over to employee reward programs and channel programs. 

Let me ask this… would you want your employees to be "champions" for your company?  Would you want your distributors and dealers to recommend your product over your competition?  I'm guessing your answer would be yes.  If so – consider the possibility that running a program for your employee and channel partners would increase their desire and behavior to recommend your company and your product.  It's just good business.

Reward Experience with an Experience

Another interesting fact from the study that may affect how you design your program…

Reward program members who have redeemed for experiential rewards are
30% more likely to be WOM champions than those who have redeemed for
discounts.

What this communicates to me is that "discounts" are economical – transactional – fungible – in other words "cold" and they have an affect on the way the audience interacts with your brand.  Think of your employee and channel programs – do you use cash, discounts or other "transactional" awards or are you looking for ways to reward folks with awards that let them have an experience?

Net-Net

Look for ways to reward people for their experience with your company, brand or products – and use experiences to reinforce that relationship.