Large and small organizations across the U.S. often offer corporate discount programs to not only add extra perks for employees, but also bring in a little extra revenue from partnerships. While these channels can be great for those who are qualified for them, their potential is often crippled by the challenges of making these programs well-known and accessible. However, with the right tools in place, these corporate channels can end up being huge money makers.
Here’s three ways to increase traffic and growth to your corporate channels, which help to maximize its revenue potential:
Make it easy to find
One of the biggest challenges that organizations have when it comes to corporate discount programs, is that they are often hard to get to. Buried within the internal database, parked in a marketplace behind a forgettable username and password, or sitting in an obscure place in the cloud, employees often don’t take advantage of these deals because they simply don’t have the time or energy to jump through the hoops to find it.
So how can companies make this channel more visible and easy to find without jeopardizing the exclusivity of the discounts? With eligibility verification in place, brands can stick the link to their corporate offers anywhere they want, even in a location as public as their website.
Through the power of eligibility verification, brands can feel comfortable knowing that only those who are qualified to redeem the discount will be able to do so. All others will be rejected from the system, ensuring margins and revenue are as they should be. By making this channel public, you drive more traffic and get more eyes on the deals you and your partners have to offer.
Remove barriers in verification
While making these channels easy to find is one crucial step in driving more traffic, if you want to see conversion rates go up, you have to remove the barriers that prevent many from actually following through on their purchases.
Too often, qualified customers, whether its employees or others that have been deemed eligible for the corporate discount channel, go to make their purchase and find they have to jump through a variety of hoops to actually complete their transaction. Submitting forms of identification, which is usually followed by a wait period, significantly reduce the chance that the purchase will be completed.
By introducing eligibility verification software into the process, organizations can simplify the checkout process, simply asking for a few credentials (name, email, etc.). Those credentials are verified with actionable, real-time data sources, often returning the verification within minutes. Without the wait time and hassle, you significantly improve the customer experience and positively impact your conversion rates.
Considering opening it up to additional markets
As traditional corporate discount programs focus only on employees, the potential for revenue growth is often limited. And while these channels are usually used as an HR perk and a small extra revenue stream, there are major opportunities to open up the revenue flood gates.
By extending these channels to additional markets, such as military members, teachers, and students, you can dramatically increase the revenue potential of the employee channel. Eligibility verification can aid in ensuring these groups are verified with every transaction, ensuring that additional revenue is protected.
Just by adding eligibility verification to corporate discount programs, organizations can maximize the revenue potential from these partnerships and ensure that they’re seeing true ROI.