Customer Loyalty.pptx
- 2. What is Customer Loyalty? Customer Loyalty can be described as when a consumer repeatedly comes back to buy a product, service, or supports a brand. This can be seen in customer rewards cards, apps, or top regulars.
- 3. How Loyalty Works When consumers purchase a product or service, you want them to revisit, and tell their friends. You want to have returning and happy customers. Loyalty is a never ending circle and it’s very hard to gain it back once it’s broken.
- 4. Examples At my job, Dorothy Lane Market we built a loyal following through our “DLM Club Card” through this loyal customers receive exclusive coupons. Everyone who signs up for a club card gets sale prices, and for every $2 spent, they receive a point. These points never expire and you can rack them up to get a discount price on staple items such as milk, eggs, bread, chicken, and ice cream.
- 5. Cost effective It costs more to gain the attention of new customers compared to regular customers. People tell their friends about the places they love, hence word-of- mouth marketing. People trust their friends opinion which drives more business.
- 6. How you can use it Point system VIP benefits Partnerships Accommodate Invest in your local community events
- 7. Brand Examples Sephora Insider Points-rack up points through purchase and receive free samples Amazon Prime-get fast free shipping and discounts in partnership with Whole Foods Hyatt Loyalty Program-stays with Hyatt and redeem for free hotel nights Starbucks Rewards- earn star points and redeem for free drinks and treats.
- 8. How to analyze data Customer Retention- how long are your customers staying with you, are they growing? Test your effectiveness of your loyalty Offer surveys, store reviews, check in’s Use social media to your advantage Talk to your customers, what do they want to see from you?
- 9. Video diving into Customer Loyalty Incentives https://www.youtube.com/watch?v=WXoJGESl0x4&feature=emb_title
- 10. In Conclusion Merch creates a cult following, make limited edition shirts Try implementing an advocate/influencer program Get to know your customers, ask them about their likes/dislikes Remember the customer is always right, people remember their experiences at businesses and how they were treated