Bi Worldwide, a company that specialises in loyalty and engagement solutions, conducted the first-of-its-kind research, in association with Kantar, the marketing data and analytics company, to analyse what inspires, engages, and motivates channel partners in India.
Bi Worldwide stated that its aim was to leverage insights from the research to create robust and reliable tools for brands to understand, measure, and strengthen their channel partner relationships.
The research focuses on channel partners’ perspective, to highlight key drivers of channel partner engagement, impact of rewards on channel partners, research-based framework to measure engagement, and new-age channel partner communication preferences.
Speaking about the research, Siddharth Reddy, Managing Director, Bi Worldwide India, said, “Bi Worldwide India commissioned KANTAR to pioneer a first-ever, in-depth research in the loyalty marketing industry, conducted at this scale. The research brings focus on a holistic relationship between brands and channel partners. Together, we endeavoured to identify the factors that affect channel partner engagement and developed a framework that enables brands to measure and optimise engagement.”
Biswapriya Bhattacharjee, Director, B2B & Technology, Insights Division, Kantar India, said, “The research is truly one-of-its-kind and delves deep into channel partners’ mindset to understand what inspires and motivates them to give their best. Brands can design results-oriented channel loyalty programs when informed by insights from a methodical and scientific research. Kantar is delighted to have partnered with Bi Worldwide India to bring together a plethora of such data-backed insights and perspectives on secrets to win over channel partners.”
Through in-depth interactions and scientific processes, the research analysed the behavioural patterns of 700+ channel partners across six prominent industries in India – Agriculture, Pharmaceuticals, Automotive, FMCG, Oil & Gas, and Building & Construction. Around 69pc of these channel partners were distributors and retailers, while 31pc were influencers, including skilled workers, such as electricians, plumbers, painters, mechanics, and daily wagers.
Commenting on the distinctive research, Sukesh Jain, CEO, Bi Worldwide India, said, “We manage channel loyalty programs for some of the leading global and Indian multi-national trade brands and provide them with proven and results oriented solutions. Bi Worldwide’s channel partners engagement research not only provides insights on strengthening brands and channel partners relationship but also helps clients and other brands to measure engagement through research based model and solution framework. We believe in turning inspiration into real business results, and the outcomes of this in-depth research help cultivate meaningful, profitable and lasting channel partner relationships, driving larger market share and in turn consistent revenue growth for brands.”
Key Research Takeaways
- The research uncovers key statistics and insights that brands should consider when designing and implementing their channel loyalty and engagement programs to drive better ROI.
- A staggering 78pc of channel partners in India are not engaged.
- 8 key drivers of engagement influence a brand’s relationship with its channel partners – Operational Excellence, Rewards & Incentives, Recognition, Learning, Brand Affinity, Communication, Well-being, and Events.
- Focusing holistically on all the 8 drivers helps brands foster strong and profitable channel partner relationships.
- A whopping 49pc of channel partners feel ‘Trapped’ with the brands they work for i.e. they prefer the brand even though they are not satisfied with it.
- 68pc of channel partners are extremely satisfied with travel-based rewards, followed closely by luxury rewards at 66pc, and business infrastructure-related rewards at 64pc.
- A brand’s best bet is to invest in a strategic mix of rewards that covers the entire efficacy scale – transactional, functional, and aspirational – to amplify channel partners’ loyalty.
- 50pc of channel partners prefer receiving business communication through app-based messaging platforms, such as WhatsApp and 50pc use social media platforms, such as Facebook, Instagram, etc.
- Voice, Messengers, and Apps are the mediums to consider while developing channel partners’ communication strategies.
