Channel partnerships are a cornerstone of business growth, extending market reach and opening the door to new customers and revenue. Loyalty partnerships—focused on creating mutual benefits and building customer loyalty—can yield similar benefits.
For resellers, distributors, and value-added resellers (VARs), the right partner can propel growth, especially for companies that utilize gift cards and rewards.
Whether you're looking to build a new program or scale an existing one, establishing a partnership can be instrumental in helping your company reach goals. Let's dig into six qualities that set world-class channel and loyalty partners apart from the rest.
Customizable gift card and reward solutions allow businesses to tailor their offerings to meet specific client requirements. This flexibility ensures that your company is equipped to succeed in a range of markets and scenarios.
For consumer-facing resellers, distributors, and VARs, tailored solutions are especially important. According to 2024 research by Deloitte, four out of five consumers value flexibility when earning and redeeming program rewards, and personalization can be a market differentiator—only 60% of consumers are currently satisfied with their customized and targeted experiences.
Whether your company is seeking a channel partnership focused on B2B, B2C, or D2C, there are common features you'll want to prioritize:
Customizable solutions play a significant role in boosting client satisfaction and retention, helping propel growth.
As an example, Grubhub and Seamless invested in a physical gift card program in 2020 to supplement a digital offering. The companies chose BHN, Tango’s parent company, to help them create a custom experience that boosts brand awareness and revenue with multiple touch points across the customer lifecycle.
A revenue-generating model is crucial for channel partnerships—as well as loyalty partnerships—since it ensures mutual growth and profitability. Seek out a partner with documented results that rewards success in sales and client retention.
Key features to consider:
Your chosen partner should have a proven revenue-generating model, one that has helped resellers, distributors, and VARs like you boost sales and retain clients. IncentivePilot, as an example, implemented a gift card API to generate Reward Links, enabling sellers to earn gift cards for completing activities such as training or attending events.
This seamless reward delivery process has significantly increased engagement, with IncentivePilot achieving over 50,000 activities and goals by more than 10,000 sellers, distributing over $8 million in rewards.
Advanced technology and seamless integrations are essential to effective channel partnerships, especially for enterprise businesses. These elements ensure that rewards are delivered efficiently and securely, enhancing the overall experience for partners and their clients, at any scale.
Features to look out for:
Seamless integrations ensure that channel and loyalty partner programs can be easily incorporated into existing systems, reducing the need for costly developer hours and manual processes. Seek out partners that offer integrations with various types of software, including CRM, MAS, and task automators.
For loyalty programs that involve points, look for options to use a points bank, integrate with an API, or even embed a reward shopping experience in your own portal.
State-of-the-art fraud prevention and data encryption technologies are crucial for maintaining trust and reliability in both channel partnerships and loyalty partnerships. These measures protect resellers, distributors, and VARs, as well as end consumers, ensuring that gift cards and rewards are delivered with the utmost security and compliance.
Key offerings to consider:
By prioritizing these security measures, partners can ensure their reward and gift card programs are safe and reliable.
A quality solution will offer dedicated support and resources for channel partners. Partner services and assets will help your business succeed and grow with the support your team, other partners, and recipients need, when they need it.
Key features should include:
By providing dedicated support and robust partner resources, the right channel partner can help your company achieve goals, fostering a successful and collaborative partnership long-term. The same goes for loyalty partnerships.
A global reward network that can adapt to local markets is crucial for the success of resellers, distributors, and VARs entering channel partnerships. Solutions that have global reach can ensure that rewards are accessible to clients and partners worldwide—local expertise allows for the customization of these rewards to meet the unique needs of different regions.
Key aspects to focus include:
A global reward network should be flexible enough to cater to the diverse preferences and cultural nuances of various regions. This adaptability ensures that rewards are relevant and appealing to recipients, enhancing engagement and satisfaction.
Tailored solutions are essential for addressing the specific challenges and goals of clients in different regions. Tango's Global Choice Link provides access to a catalog of digital gift cards, prepaid cards, and charitable donations, allowing recipients to select rewards that best fit their local market.
Leveraging local expertise can significantly enhance the effectiveness of reward programs. Local experts understand the cultural, economic, and regulatory landscape of their region, enabling them to provide insights and recommendations that align with local preferences.
Selecting the right channel partner or loyalty partner is crucial for achieving business growth. An experienced partner with comprehensive and customizable solutions, a proven business model, industry-leading technology and security measures, ample resources, and global reach, can help your company scale gift cards and rewards.
Ready to explore partnerships that drive growth and success? Discover how Tango can help you achieve your goals with tailored solutions and global rewards. Connect with our team.