lsa bootcamp chicago: how to build a devoted customer base (belly)
Post on 11-Feb-2017
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How To Build A Devoted Customer Base
LAUREN LICATA
SENIOR DIRECTOR OF MARKETING
Who Are We?
8M+MEMBERS
12K+LOCATIONS
100M+VISITS
Customer Acquisition
Customer Retention
VS.
STREET FIGHT MAG80%of SMB Merchants said customer acquisition was their
main priority.
8%
Customer Loyalty vs. Customer Acquisition
said customer retention was a priority.
Customer Loyalty vs. Customer Acquisition
Building loyalty with 5% more customers would lead to an increased average profit per customer of between 25% and 100%
(The Loyalty Effect)
Loyal customers make up roughly 20% of your total customer base, but they account for about 80% of total revenue.
(Entrepreneur)
VIP and loyalty program members are 70% more likely to spread the word about your business.
(Loyalty 360)
Customer Loyalty vs. Customer Acquisition
You need NINE first time shoppers
To reach the conversion of ONE repeat customer.
66% of small businesses don’t have a
loyalty program.
34% of small businesses do have a program.
SOURCE: BIA KELSEY
Customer Loyalty vs. Customer Acquisition
46% of those are digital.
54% of those are NOT digital. (paper, verbal, other).
4 Types of Loyalty Programs
Types of Loyalty Programs
Southwest AirlinesBellyDiscover Rewards
Starbucks
Sephora
CVSWalgreens Barnes & Noble Petco
Panera Bread
Panera Bread
Best Buy
Papa John’s
Safeway
Target National Car RentalPlenti
PlentiPOINTS BASED
SPEND BASED
TIERED
DISCOUNT
COALITIONHilton HHonors
Types of Loyalty Programs
Southwest AirlinesBellyDiscover Rewards
Starbucks
Sephora
CVSWalgreens Barnes & Noble Petco
Panera Bread
Panera Bread
Best Buy
Papa John’s
Safeway
Target National Car RentalPlenti
POINTS BASED
SPEND BASED
TIERED
DISCOUNT
COALITIONHilton HHonors
Types of Loyalty Programs
Southwest AirlinesBellyDiscover Rewards
Starbucks
Sephora
CVSWalgreens Barnes & Noble Petco
Panera Bread
Panera Bread
Best Buy
Papa John’s
Safeway
Target National Car RentalPlenti
POINTS BASED
SPEND BASED
TIERED
DISCOUNT
COALITIONHilton HHonors
Types of Loyalty Programs
Southwest AirlinesBellyDiscover Rewards
Starbucks
Sephora
CVSWalgreens Barnes & Noble Petco
Panera Bread
Panera Bread
Best Buy
Papa John’s
Safeway
Target National Car RentalPlenti
POINTS BASED
SPEND BASED
TIERED
DISCOUNT
COALITIONHilton HHonors
Types of Loyalty Programs
Southwest AirlinesBellyDiscover Rewards
Starbucks
Sephora
CVSWalgreens Barnes & Noble Petco
Panera Bread
Panera Bread
Best Buy
Papa John’s
Safeway
Target National Car RentalHilton HHonors
Plenti
POINTS BASED
SPEND BASED
TIERED
DISCOUNT
COALITION
5 Common Loyalty Program Mistakes
Common Loyalty Program Mistakes MISTAKE #1
Creating Rewards That Are Not Valuable To Customers
Common Loyalty Program Mistakes
A Poor Customer Enrollment Process
MISTAKE #2
Common Loyalty Program Mistakes MISTAKE #3
Not Promoting Loyalty Program To Customers
Common Loyalty Program Mistakes MISTAKE #4
Not Sending Targeted Offers To Your Customers
Common Loyalty Program Mistakes MISTAKE #5
Initiating A Program Without Understanding How To Track Effectiveness
How To Market & Manage Your Loyalty
Program
Send An Announcement Email
Engage Your Employees & Staff
Tweet, Post & Share It
Iterate Rewards Based On Customer Response
Market Your Program In-Store
How To Market & Manage Your Loyalty Program
Send An Announcement Email
How To Market & Manage Your Loyalty Program
Engage Your Employees & Staff
How To Market & Manage Your Loyalty Program
Tweet, Post & Share It
How To Market & Manage Your Loyalty Program
Iterate Rewards Based On Customer Response
How To Market & Manage Your Loyalty Program
Market Your Program In-Store
How To Measure Effectiveness Of Your Loyalty Program
New vs. Returning customer %
Net Promoter Score
Customer Visit Frequency
Customer Engagement
Plan For Omni-Channel
Remember To Put The
Customer First
Consider A Digital Loyalty Program
But, What Next?
Focus on Customer Retention
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