Earning Customer Loyalty


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This presentation examines how and why merchants should say thank you to their customers, and focus on getting a reputation for being awesome.

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Earning Customer Loyalty

  1. 1. Social Consumer Loyalty & Rewards Internet Summit 11/18/2010 Bill Bing Founder & CEO, Loyalese
  2. 2. Background Bill Bing Co-founded Loyalese, a social loyalty platform in early 2010 10 years experience at startups and in venture capital Square 1 Financial; worked with and invested in startups nationwide Upromise; online coalition loyalty program with 12 million members 2
  3. 3. THANK YOU 3
  4. 4. “Valued Customer, Thank you for your recent purchase…” 4 Not “Thank You”
  5. 5. “5% off your next purchase of more than $100* if you buy within the next 24 hours…” 5 Also Not “Thank You” *offer applies to select items and is subject to change
  6. 6. “Please complete this survey to provide us with feedback so we can better serve you…” 6 Definitely Not “Thank You”
  7. 7. “Customers are issuing a very clear warning to marketers. Give me relevant communications that reflect my history and connections to you, or we will go elsewhere with our business.” Sandra Zoratti, VP of Global Solutions Marketing for InfoPrint Solutions Company 7
  8. 8. Be Genuine Do something with no strings attached Pretend you’re giving a gift to a friend Avoid gimmicks that require further action Even better, do something creative, personal and relevant Give gifts that reflect customer interests Express your brand message through rewards 8
  9. 9. Develop a Reputation for Being Awesome 9
  10. 10. Loyal Customers are Essential Buy more products and services Provide insight and feedback Cost less to support Give you the chance to fix mistakes Refer new customers and recommend products to friends 10
  11. 11. Case Studies in Awesome Southwest – a new type of airline Lexus – outstanding customer service Bank of America – Museums on Us Starbucks – using geo-location and other social tools 11
  12. 12. Southwest Makes Flying Fun Customer-focused approach No charge for checking bags First-come, first-served seating Events for customers at airports Corporate social responsibility Active blog and social media presence 12
  13. 13. The Lexus Service Experience Complimentary car washes Great snacks and personal office space Program personal electronic settings Lexus loaners for use during service No up-selling or unnecessary work Keeps customers coming back 13
  14. 14. Bank of America: Museums on Us Free admission to 100+ US museums No strings attached Creative, valuable offer Reinforces brand connection by association through a shared interest Creates positive word-of-mouth 14
  15. 15. Check-in at Starbucks Integration with mobile apps Give customers a reason to take action Simple rewards and discounts Enhanced brand visibility through user generated content Differentiate from competitors 15
  16. 16. Value Beats Price Loyal consumers want value and quality rather than price and transactions Consistency and service are key Companies that care about customers have customers that care about them Great experiences get people talking/blogging/posting 16
  17. 17. Super Connectivity 17 Great customer experience 10 years ago Repeat business Tell a handful of friends …and that’s pretty much it Great customer experience today Repeat business Tell hundreds of FB friends and Twitter followers …and do all this in real time
  18. 18. Impact of Social Media Social drives more traffic than Google Search directs interest; social creates it Referrals outperform ads or search Proven benefit for consumer businesses Gaming (Zynga), Dating (Zoosk) Word-of-mouth brings new customers Source: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/02/14/BUU51C0AMN.DTL 18
  19. 19. Search Comparison Commodity Bad Math 19
  20. 20. Social Awesome Loyalty Good Math 20
  21. 21. Conversion (Point of Sale) Customer Service & Retention Customer Acquisition E-commerce Cycle 21 Loyalty happens here
  22. 22. When Was the Last Time… This: Or this: Led to this: Or this: http://www.joemonahansnewmexico.blogspot.com/2009_01_01_joemonahansnewmexico_archive.html http://crfidm.com/new_page_1.htm http://www.marketing24h7.com/world-mouth-advantage-disadvantage/ http://s.fatwallet.com/static/attachments/24703_staples10_offoneitem12_20_09to12_26_09.jpg Sources: 22
  23. 23. Takeaways Become awesome Get loyal customers Use social tools and creative rewards to help them tell their friends Get more loyal customers 23
  24. 24. THANK YOU 24 @BillNBing bill@loyalese.com