7 Critical Steps to Successful Loyalty Marketing
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Who We Are
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What We Do
Increase customer lifetime value
Drive new revenue
Boost conversion rates
7 Critical StepsTo Successful Loyalty Marketing
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• Develop Clear Goals Critical Step
#1
#1 Develop Clear Goals
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#1 Develop Clear Goals
Think Beyond Retention
Source(s): Social Annex
• Increase retention/conversions• Drive referral revenue• Increase customer value• Build a brand community
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#1 Develop Clear Goals
Think Beyond Retention
Source(s): Social Annex
• Increase retention/conversions• Drive referral revenue• Increase customer value• Build a brand community
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#1 Develop Clear Goals
Think Beyond Retention
Source(s): Social Annex
• Increase retention/conversions• Drive referral revenue• Increase customer value• Build a brand community
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#1 Develop Clear Goals
• Increase retention/conversions• Drive referral revenue• Increase customer value• Build a brand community
Think Beyond Retention
Source(s): JimmyJazz.com, Delias
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#1 Develop Clear Goals
Quantify the Goal
• Customer Lifetime Value – AOV– Purchase Frequency
• Social Activity• Social Reach• Referrals• Total active loyalty customers• Additional revenue attributable
to the loyalty program
Source(s): AbesMarket.com
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#2 Understand Your Customers
• Understand Your Customers
Critical Step
#2
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#2 Understand Your Customers
• Gather social data from social APIs with tools like Social Login• Develop ideal consumer scenarios – their likes, interests, time
spent online, purchasing behavior, etc.
Make Customer Profiles Actionable
Source(s): Social Annex, Facebook
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#2 Understand Your Customers
• At the core of every loyalty program is the consumer
Add Practical Attributes to Customer Profiles
Source(s): Social Annex
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• Identify Rewards That Will Motivate Your Customers
Critical Step
#3
#3 Identify Rewards
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#3 Identify Rewards
• What do shoppers care about?– Publicly competing– Discounts– Personalization– Exclusivity
Make Shoppers Excited to Act
Source(s): VAULT, CaféPress.com
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#3 Identify Rewards
• Personalization– Service
• Exclusivity – Instore and online
VIP events– Brand ambassador
programs
Image Conscious & Price Inelastic
Source(s): AbesMarket.com
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#3 Identify Rewards
Omnichannel Incentives and Actions
Source(s): American Signature Furniture
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Critical Step
#4
• Value Available Actions
#4 Value Available Actions
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#4 Value Available Actions
• Determine the value (in terms of dollars) of each available action
• Estimate the cost of each action
• Define your max cost per action
What Aligns with Your Goals?
Source(s): VAULT
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#4 Value Available Actions
• Build brand advocates– Referrals programs– Social Q&A
• Implicit Points
Image Conscious Socialites
Source(s): Social Annex, VAULT
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Critical Step
#5
• Define a Rewards Scheme
#5 Define a Rewards Scheme
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#5 Define a Rewards Scheme
• Badges• Public boards• Hierarchy• Perks
What’s the Core Value Proposition?
Source(s): TeeFury.com
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• Hierarchy– Exclusive levels
• Perks– Mystery perks
How Will You Market?
Source(s): TeeFury.com, AbesMarket.com, Prep Sportswear
#5 Define a Rewards Scheme
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Critical Step
#6
• For Success, Invest
#6 For Success, Invest
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#6 For Success, Invest
• Cross promotion• Expiring High Value offers• CTA placement• ESP Integration
Drive Program Adoption
Source(s): Paula’s Choice
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#6 For Success, Invest
Drive Program Adoption
• Cross promotion• Expiring High Value offers• CTA placement• ESP Integration
Source(s): VAULT
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#6 For Success, Invest
• Cross promotion• Expiring High Value offers• CTA placement• ESP Integration
Drive Program Adoption
Source(s): AbesMarket.com
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#6 For Success, Invest
• Cross promotion• Expiring High Value offers• CTA placement• ESP Integration
Drive Program Adoption
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Critical Step
#7
• Evaluate and Optimize for ROI
#7 Evaluate, Optimize for ROI
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#7 Evaluate, Optimize for ROI
• Set up and get comfortable with a dashboard
• Solidify a process for evaluating your loyalty program
Prepare to Reap Your Rewards
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#7 Evaluate, Optimize for ROI
• A/B testing• Continually iterate• Who’s opting in?• Surveys• Adjust goals/timelines
Stay Vigilant
Key TakeawaysFor Successful Loyalty Marketing
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Key Takeaways
1. Develop Clear Goals2. Understand your Customers3. Identify Rewards that will Motivate4. Value Available Actions5. Define a Rewards Scheme6. For Success, Invest7. Evaluate and Optimize for ROI
Recap
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• Please reach out with any questions of if you would like to set up a demo.
Thanks for Listening!