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Silverpop: Taking Loyalty Beyond the Discount
 

Silverpop: Taking Loyalty Beyond the Discount

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The term "loyalty" means different things to different digital marketers. Many small- to medium-sized businesses have implemented punch card programs to encourage repeat business and reward frequent ...

The term "loyalty" means different things to different digital marketers. Many small- to medium-sized businesses have implemented punch card programs to encourage repeat business and reward frequent customers, while failing to capture important customer information in a meaningful and trackable way. Some large companies spend millions of dollars on loyalty programs that drive sales and customer satisfaction, but sometimes also create discount-happy customers.

In this Webinar, Silverpop's Dave Walters will offer his advice on shifting the current thinking around these types of programs to focus on what he calls "experience-based loyalty" -- focusing on identifying user actions that indicate a deep affinity for your brand and the kinds of experiences that will amaze your customers, rather than simply handing out discounts and coupons.

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    Silverpop: Taking Loyalty Beyond the Discount Silverpop: Taking Loyalty Beyond the Discount Presentation Transcript

    • Taking Loyalty Beyond The DiscountDave Walters, Product Evangelist@_DaveWalters
    • So Who is This Dude? Twenty-Year Digital MarketerCOO @ Loyalty Startup Corporate + Agency Relationship Marketing Practice Lead 2
    • Who is Silverpop? Silverpop is the Unified Digital Marketing Platform that delivers superior overall “return on relationship” powered by the deepest insight into the way customers behave. 3
    • 4,000+ Brands and 15,000 MarketersFinancial Services Retail Energy & Utilities Media Business Services SoftwareTravel & Hospitality Non-Profit Food & Beverage Hardware Entertainment Education 4
    • Behavioral Marketing Real-time, cross-channel, insanely relevant campaigns to one person at a time automatically driven by analytics of their actions, preferences and profiles.
    • The Wild West of Loyalty Marketing ~$100/mo./location$50 for 500 $3-5MM/yr. 6
    • Why Do Loyalty Programs Exist?• They created real choice modifiers and drove strong add-on revenues in specific industries, like travel and retail – Yep, he just used the past tense :: <CREATED>• More market competition drove increasing price and share-of- spend pressures – Sure, the rise of analytics weenies drove new dynamics• Buyers respond positively to more engaging relationships – Newsflash, we’re social beings who like being recognized• Marketing programs have their own momentum – Once proven, it’s hard to kill a big fish 7
    • When They’re Great High SKU-Level MarginsCommoditized Product Steady-State Marketing Budget Repeatable Purchase Cycle Data-Driven Marketers MDF Funds Recurring Customers 8
    • When They’re Terrible Price-Satisfied CustomersComplex Product Offering Commingled With Other Brands Few Fraud Controls No In-Store Training Just Free Stuff Nothing is ‘Learned’ 9
    • “A completely different mindset is required if any semblance of a loyalty program is going to stick to today’s 20-year-old, who is the prime earner of the next 20 years.Online reputation and real-life experiences will trump a 15% coupon any day of the week and twice on Sundays.” Me, 2010 10
    • Six New Tactics Beyond Discounts 11
    • Open Your Social Eyes• Better ‘appreciation dynamic’• It’s real-time, more personal, and is absolutely scalable• Consider social advocacy on par with item purchases• Use tools like Twitter Advanced Search or Radian6 12
    • Reward Based on Affinity • Think beyond the item being bought from you • What resonates with the PERSON • Gently test a wide range of hypotheses with partner offers • And then there’s Prime… 13
    • Go Deep on Mobile• Captain Obvious moment: your users have smartphones• Look closely at hard costs, and then spend that money build an app• Keep the experience immediate, drive- to-web is bad here• Remember non-digital high spenders 14
    • Factor for Location • Of all the ‘behaviors’, location is among the strongest predictors • Keep a permission layer, but use the data to inform your programs • Don’t miss the opportunity to socially thank visitors 15
    • Score It Like a Lead• As long as we’re beyond the transaction, go for it!• B2B-stlye lead scoring applies to events beautifully• Group your customers by tier and market to them differently• Experiment aggressively 16
    • An Open Architecture • The biggest challenge today • Takes affinity-driven rewards to their logical conclusion • Reduce costs *and* deepen your customer understandings • Pick only your best friends and partners 17
    • The Thank You Economy 18
    • Questions? Dave Walters  dwalters@silverpop.com  Twitter: @_DaveWalters www.slideshare.net/silverpop Twitter: @SIlverpop www.silverpop.com 19