When businesses partner with contractors, they gain access to organizations and individuals that can become steady customers themselves while also acting as brand ambassadors, ensuring long-term, lucrative engagements. Having incentive programs in place can help keep your relationships strong, allowing you to secure business over your competitors.
A contractor rewards program is a form of loyalty program that manufacturers, distributors, and other B2B organizations use to encourage contractors to choose their products and remain loyal to the brand. These programs can provide diverse benefits for companies and contractors alike, and QIC can provide customized solutions tailored to specific goals.
Who Can Benefit from Contractor Loyalty Rewards Programs?
It can cost businesses 6 to 7 times more to get a new customer compared to retaining an existing one, and increasing customer retention by only 5% can lead to a profitability boost of 25% to 95% over time. Therefore, one of the main beneficiaries of contractor rewards programs is the company itself, since motivated partners can bring in and retain more business long-term.
But your partners can reap the rewards as well, as their loyalty to your brand and products can give them access to valuable incentives. Common partners of B2B organizations from contractor rewards programs include:
- Resellers
- Distributors
- Professional trade contractors
- Home builders
- Remodelers
- Construction companies
- Home improvement businesses
- Roofers
- Carpenters
- Electricians
- Swimming pool technicians
- Landscapers
Along with all these professionals, the customers and clients they work with will also benefit because they will gain access to the high-quality products your company produces and that your partners recommend.
Incorporate a Proven Contractor Rewards Program into Your Operations
If you conduct a quick search, you’ll find that there are many contractor rewards program examples out there, which is no surprise. In fact, 72% of contractors participate in loyalty programs currently, with many being associated with more than one, partnering with big box and independent retailers, manufacturers, and distributors and wholesalers.
But not all contractor rewards program examples you’ll find are equivalent, and not every company offering them have the experience and expertise needed to ensure they’re truly effective. At QIC, though, we have more than 60 years of experience in the field providing incentive and reward programs to diverse industries, and we are adept at tailoring our services to the needs of our clients.
Our contractor loyalty rewards programs fall under our channel partner incentives, designed for B2B companies looking to reward distributors, resellers, retailers, and other partners for selling select products and services.
Key advantages of choosing QIC for contractor rewards programs include:
- Our versatility, as we can adapt and customize our services to fit any industry or niche
- The ability to attain metrics on variable types of successes, including purchases, customer satisfaction, and more
- Dedicated rewards that align with your business and the needs of your channel partners
- A cloud-based platform that uses company data to streamline processes and facilitate improvements
- Increasing your control in the sales process and helping you bridge the gap between your business and end users
- Allowing you to develop KPIs for your contractors and other partners for sales initiatives
- Helping you build brand awareness, increase market share, boost profits, retain customers, and increase contractor loyalty and growth
Contractor Rewards Program Examples
When it comes to the types of rewards you can offer your independent contractors, resellers, distributors, and other partners, our team can work with you to provide relevant products and experiences that they will appreciate. We focus on:
- Popular lifestyle merchandise – By working with high-end companies, we can supply top-tier products by brands like Sony, Cuisinart, Dyson, Apple, Microsoft, and many more. In addition, we also offer a concierge shopping service for a personal, unique touch.
- Individual travel opportunities – Who doesn’t love a well-deserved getaway? Our programs can help your partners avoid the hassles of travel planning by overseeing the needs for stays, cruises, exciting adventures, and fan experiences.
Start Building a Contractor Rewards Program with QIC
When you invest in the people who distribute and recommend your products, everybody wins. Boost brand loyalty and improve your bottom line by letting us craft a contractor loyalty rewards program suited for your niche.
Contact our team today and we can get to work customizing the perfect approach.
