Rewards for Business by Christine Hepburn and Jacqui Matthews

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The way that we interact with customers has changed. The environment for businesses has transformed over recent years. Client expectations are higher and the level of transparency and involvement that many customers expect has been 'turned on its head'.

So, how do you reward and thank the very people who are keeping you in business and driving new business to you?

Join us for the Rewards for Business webinar.

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Rewards for Business by Christine Hepburn and Jacqui Matthews

  1. 1. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Rewards for Business How to reward customers, create a loyal fan base and transform your customers experience.
  2. 2. Rewards for Business: How to reward customers, create a loyal fan base and transform your customers experience. !Suzi DafnisAustralian Businesswomen s Network
  3. 3. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Q&A
  4. 4. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Victoria’s Small Business Festival runs from 1–31 August with hundreds of low-cost and free events throughout Melbourne and regional Victoria business.vic.gov.au/festival
  5. 5. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. TWITTER Use tag: #abnrewards Follow along:• Suzi is @suzidafnis• Jacqui is @rawsugaloyalty• Christine is @Christine_ tde
  6. 6. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Today s Speakers Christine Hepburn Jacqui Matthews The Defining Edge rawsuga
  7. 7. Rewards for Business: How to reward customers, create a loyal fan base and transform your customers experience.Jacqui MatthewsManaging Director, rawsuga
  8. 8. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Agenda1.  The value of customer loyalty •  A competitive advantage in a commoditised market2.  Customer loyalty and Customer insights3.  Customer evangelism4.  Simple loyalty ideas
  9. 9. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience.The value of customer loyalty Customer loyalty: a competitive advantage in a commoditised market
  10. 10. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience.Some customers loyalty means they never switch brands
  11. 11. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Customer monogamy myth Are your customers playing the field?
  12. 12. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience.Businesses who understand the value of loyalty 8 million members 3 million dual members
  13. 13. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Australians know their loyalty Members: •  2009 = 3 million •  2010 = 5.4 million •  2011 = 8.4 million
  14. 14. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience.Woolworths Everyday Rewards two years on“Our customer engagement strategy went from strengthto strength with more than 8.4 million customers now signedup to our loyalty programs in Australia andNew Zealand.In addition to rewarding ourcustomers, we are now deriving considerablebenefits from the data analytics and integratingthis rich knowledge into our decision-making in orderto further improve our offer to customers.” Michael Luscombe, former CEO of Woolworths* *Woolworths Annual Report 2011
  15. 15. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience.Rewarding and learning from our customers Its about gaining valuable insights into the individual differences among your individual customers,…… If all your customers are exactly the same, then an everyday low pricing strategy is the right strategy. Don Peppers, Architect of Everyday Rewards *SMH September 2009
  16. 16. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Coles – learning from mistakes Almost $2 million was spent on the new card mail out alone (16,000,000 cards).
  17. 17. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Customers Value of Loyalty: critical data and information generated by customers
  18. 18. Rewards for Business: How to reward customers, create a loyal fan base and transform your customers experience. Small Business in Australia - ABS•  35% of industry value added in 2009 – 2010 from small businesses (0 – 19 employees).•  Almost half of Australian industry employment by small businesses. Key Statistics – Australian Small Business – 2011 !
  19. 19. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Small Businesses and loyalty Victorian Yellow Pages sample •  Accountants and Auditors 4009 •  Dentists 4414 •  Physiotherapists 3405 •  Optometrists 1589 •  Hairdressers 4555 •  Graphic designers 1721 Key Statistics – Australian Small Business – 2011
  20. 20. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Have a point of difference and stand out from the crowd
  21. 21. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Customer Loyalty and Customer Insights
  22. 22. Rewards for Business: How to reward customers, create a loyal fan base and transform your customers experience.Customer barometer – how can we get it right? Most recent Amex Service Barometer – 10 countries, 10,000 people: •  46% - feel companies are helpful but don’t do anything extra to keep your business. •  25% - take your business for granted. •  Australia, UK and France have the lowest rating for feeling that business valued their custom.
  23. 23. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Loyal customers are profitable•  It costs a business about 5 – 10 times more to acquire a new customer.•  Current (loyal) customers spend 67% more with your business that new ones.•  Retention more profitable than acquisition – Customer Lifetime value
  24. 24. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience.Customer Insights - Data•  Customer lifetime value•  Accounting software•  Website – membership•  Emails / enquiries•  Booking software•  Point of sale•  Ask questions Born this way – the millennial loyalty survey – How generation Y will reshape customer loyalty, Rick Ferguson – VP Knowledge Development !
  25. 25. Rewards for Business: How to reward customers, create a loyal fan base and transform your customers experience.A fair exchange…customers and their information What value would you need in order to share personal information with marketers? Born this way – the millennial loyalty survey – How generation Y will reshape customer loyalty, Rick Ferguson – VP Knowledge Development
  26. 26. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Invest in your loyalty•  Utilise online CRM software – free OR•  Act! Database•  Excel and accesssugarcrm.com – modularTine20.org – free Born this way – the millennial loyalty survey – How generation Y will reshape customer loyalty, Rick Ferguson – VP Knowledge Development !
  27. 27. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Customer Evangelism The link between customer loyalty marketing and referrals – internal and external.
  28. 28. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Happy customers tell 3 friends, unhappy customers tell facebook Word of mouth marketing Social Word of mouth marketing
  29. 29. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Net Promoter ScoreAmerican Express have completed NPSas part of Relationship Care strategy –turning Detractors into Promoters:• 20 – 25% increase card member spend• 6 x lower attrition of members
  30. 30. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Simple loyalty ideas that work
  31. 31. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Loyalty Business Model ….Adopt as a business strategy not as a marketing expense
  32. 32. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience.Over 4,500 customers have told us... What they do like… • Easy to understand rewards – simplicity • Reward for their spend with your business. • Using their “name”, surprise and delight • Birthday rewards • Quality customer service experiences that support the rewards. • Targeted, relevant offers • Being reminded of offer
  33. 33. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. What they don’t like… • Loyalty programs that are confusing. • Too hard / take too long to earn points. • Irrelevant rewards that are not suited to their behaviour/demographic. • Being punished for losing / not having card - inflexibility • POINTS EXPIRY • SPAM
  34. 34. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience.Simple loyalty ideas•  Members only pricing / exclusive rewards (Adairs/amazon)•  Tiering – QANTAS, clubs•  Free stuff – Starbucks
  35. 35. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience.Simple loyalty ideas•  Points – points multipliers, pay by points discounts and offers•  Celebrating events•  Saying thankyou•  Relevance – Jeans West
  36. 36. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience.Ruby and Samuel Cook – Loyalty Programs What went wrong: •  The reward program did not suit the age demographic. •  Too complicated and hard to earn rewards.
  37. 37. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Customer Loyalty is a competitive advantage in a commoditised market web: rawsuga.com.au!
  38. 38. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Jacqui Matthews rawsuga /@rawsugaloyalty /rawsuga /rawsuga
  39. 39. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Christine Hepburn The Defining Edge Training and Development
  40. 40. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Meeting demands How today s business environment demands more from you
  41. 41. Rewards for Business: How to reward customers, create a loyal fan base and transform your customers experience.Live your brand from the inside out
  42. 42. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Does Equality Mean Equal?Are all customers created equal?
  43. 43. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience.What kind of gift is your business?Why generosity is your secret weapon to customer loyalty
  44. 44. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience.Resuscitate, Rejuvenate, RevitaliseTransform your client experience
  45. 45. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Purpose, Passion, ProfitsThe mechanics of fuelling customer evangelism•  Create a community, create a movement
  46. 46. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience.
  47. 47. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Christine Hepburn The Defining Edge /@Christine_ tde /christine.hepburn888 /ChristineHepburn
  48. 48. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Q&AUse the Question Pane to Ask Your Questions
  49. 49. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Today s Speakers Christine Hepburn Jacqui Matthews The Defining Edge rawsuga
  50. 50. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Victoria’s Small Business Festival runs from 1–31 August with hundreds of low-cost and free events throughout Melbourne and regional Victoria business.vic.gov.au/festival
  51. 51. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. 21 August 2012 27 August 2012 11.00am – 12.00pm 11.00am – 12.00pm FREE FREE
  52. 52. Rewards for Business:How to reward customers, create a loyal fan base and transform your customers experience. Become a member today. www.abn.org.au

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