Your SlideShare is downloading. ×
Customer Loyalty: Beyond Likes, Tweets & Shares
Customer Loyalty: Beyond Likes, Tweets & Shares
Customer Loyalty: Beyond Likes, Tweets & Shares
Customer Loyalty: Beyond Likes, Tweets & Shares
Customer Loyalty: Beyond Likes, Tweets & Shares
Customer Loyalty: Beyond Likes, Tweets & Shares
Customer Loyalty: Beyond Likes, Tweets & Shares
Customer Loyalty: Beyond Likes, Tweets & Shares
Customer Loyalty: Beyond Likes, Tweets & Shares
Customer Loyalty: Beyond Likes, Tweets & Shares
Customer Loyalty: Beyond Likes, Tweets & Shares
Customer Loyalty: Beyond Likes, Tweets & Shares
Customer Loyalty: Beyond Likes, Tweets & Shares
Customer Loyalty: Beyond Likes, Tweets & Shares
Customer Loyalty: Beyond Likes, Tweets & Shares
Customer Loyalty: Beyond Likes, Tweets & Shares
Customer Loyalty: Beyond Likes, Tweets & Shares
Customer Loyalty: Beyond Likes, Tweets & Shares
Customer Loyalty: Beyond Likes, Tweets & Shares
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Customer Loyalty: Beyond Likes, Tweets & Shares

456

Published on

Why customer loyalty is beyond likes, tweets, and shares. And what marketers should refrain from doing.

Why customer loyalty is beyond likes, tweets, and shares. And what marketers should refrain from doing.

Published in: Business, News & Politics
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
456
On Slideshare
0
From Embeds
0
Number of Embeds
3
Actions
Shares
0
Downloads
21
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. Customer Loyalty: Beyond Likes, Tweets & SharesSumedha Chatterjee
  • 2. Loyalty, Now? You Must Be Crazy!•Marketing myopia—Loyalty is increasingly being interpreted as“likes” “follows”, and “re-tweets.”•Marketers need to step back and assess how many of thesemetrics are actually adding to/creating business value.•In the era of “fluid fingers”, how do marketers build loyalty?•Here, we examine what works (most of the times!) and whatdoes not.Customer Loyalty: Beyond Likes, Tweets & Shares 10/06/2013
  • 3. Loyalty: Why Is It a Digital Dilemma?•Instead of 1:1 conversations that matter, marketers chasescalable, automated & impersonal loyalty models that contributemore to the digital pandemonium.•Focus should be on delivering a “people-centric” loyaltyexperience on digital, & not a faceless/lifeless loyalty program.•Conversions are easier to accomplish & track. Traversing thepath from conversions to loyalty is the marketing equivalent of aMount-Etna-esque walk.Source: http://bit.ly/14aHxmLCustomer Loyalty: Beyond Likes, Tweets & Shares 10/06/2013
  • 4. Lessons Learnt: The Hard Way & OtherwiseHow digital helps build loyalty?•Engagement•Conversations•Share -of-heart vs mindHow digital deceives?•Tracking vanity metrics•Economic value of a “like”•Crystal ballingCustomer Loyalty: Beyond Likes, Tweets & Shares 10/06/2013
  • 5. How Digital Helps Build Loyalty?
  • 6. How Digital Loyalty Helps—EngagementEngagement First:Social is good for:― conversations―initiating dialogue― challenging viewpoints―engaging audienceMarketing Memo: Extending the audience’s love for the brand on social toextrapolation of their purchase probability, might be, in some cases, extreme.Customer Loyalty: Beyond Likes, Tweets & Shares 10/06/2013
  • 7. How Digital Loyalty Helps—EngagementYour brandstoryConverse andengage hereRefrain from “selling first,” helppeople connect around a sharedidea or a brand that they loveBuild conversations & dialogue,quit social extrapolationCustomer Loyalty: Beyond Likes, Tweets & Shares 10/06/2013
  • 8. How Digital Loyalty Helps—InfluenceThe Social Influencer:Social is good for:―a deep dive into the influencer sea― identifying relevant product ambassadors & their sphere of influence― golden triangle: 1-9-90 principle of socialMarketing Memo: Identify your best friends—your brand advocates , the 1-9-90 principle helps in deciding the marketing consideration for each of them.Source: http://slidesha.re/110oOoHCustomer Loyalty: Beyond Likes, Tweets & Shares 10/06/2013
  • 9. How Digital Loyalty Helps—Influence19 90The Big Fish•Popular on digital media•Everyone covets them•Hard to “acquire”•Marketing consideration:engage in 1:1 digital dialoguesThe Niche Experts•Wield considerable influenceamong small focused circles•Marketing consideration:relevanceThe Slient Majority•Just there•Marketing consideration:visibilityUse each marketing consideration set to build loyalty onlineCustomer Loyalty: Beyond Likes, Tweets & Shares 10/06/2013
  • 10. How Digital Loyalty Helps—Mind & Heart10,000+ likes on facebook?― what does that translate into for me?― is it valuable at all?― are these attitudinal loyalists? If yes, persevere, because share-of-heartprecedes share-of-wallet.―but beware, don’t obsess over likes & re-tweetsMarketing Memo: Identify what does a “like” mean toyou—social PR, a good-to-have indicator of your brand image, a must-havemetric or digital drivel. If “likes” matter to you, focus on getting the heart first,the mind and the wallet follows.Customer Loyalty: Beyond Likes, Tweets & Shares 10/06/2013
  • 11. How Digital Loyalty Helps—Mind & HeartSource: http://bit.ly/11uUpQqCustomer Loyalty: Beyond Likes, Tweets & Shares 10/06/2013versusMillenials Trust People Over BrandsThey buy with others’ inputs & seek brandengagementTherefore, your customer opinions are your headlines& share-of-voice your marketing stories
  • 12. How Digital Deceives?
  • 13. How Digital Loyalty Tricks—Stop Tracking Vanity MetricsAre you tracking vanity metrics?― “100 shares doesnt necessarily mean 100 sales—and it certainly doesntmeasure the potential value of those 100 shares”― Most marketers don’t have the tools to correlate these digital metrics to apotential sales pipeline.―Likes are good, but that’s what they just are. Good, not good enough.Marketing Memo: Identify the incremental value generated versus the timespent in tracking these metrics. Don’t invest resources in an activity with noscientifically justifiable sales correlation.Source: http://on.mash.to/16oj80s, http://onforb.es/13xUXs7, http://onforb.es/11b9vL0Customer Loyalty: Beyond Likes, Tweets & Shares 10/06/2013
  • 14. How Digital Loyalty Tricks—Stop Tracking Vanity Metrics$$LeadsLeadsLeadsVanity metricsWhat incremental value is beinggenerated by tracking these metrics &how strongly are these correlated to thesales pipeline?Customer Loyalty: Beyond Likes, Tweets & Shares 10/06/2013
  • 15. How Digital Loyalty Tricks—Economic Value of a “Like”Beware of digital intoxication!―Tetra-trillions of sub-optimal data is created purely through social media,but there is very little assessment of the economic value of such data―How strongly is loyalty correlated at all to the marketing metrics that we aretracking?―There is a tendency to find “cool “metrics to track, & some of the right metrics areun-cool & un-digitized?Marketing Memo: Pertinent is the answer to this question: How strongly is loyaltycorrelated to the marketing metrics that we are tracking?Source: http://bit.ly/ZvTcgqCustomer Loyalty: Beyond Likes, Tweets & Shares 10/06/2013
  • 16. How Digital Loyalty Tricks—Economic Value of a “Like”Average post engagement rate =Likes +comments + shares on a given day----------------------------------------------# of wall posts made by a page on a given day-----------------------------------------------------------------x 100Total fans on a given daySample trick metric; cool & not-so-usefulThe Average user:•May not even be connectedonline to the brands he loves•May be connected online tothe brands he doesnt loveIndifference needs to befactored in., which affects theeconomic value of suchmetrics.Based on metrics such asthese, how can marketersmake evidence baseddecisions?Customer Loyalty: Beyond Likes, Tweets & Shares 10/06/2013
  • 17. How Digital Loyalty Tricks—Crystal BallingUltimate Acid Test? Conversions & Repeats―present loyalty tools are generating volumes of data, reports, analytics, all ofwhich are contributing to gigabytes of trash―all of these lead to never ending “what if” scenarios, a drain of marketing time &investmentMarketing Memo: Align your activities to what matters to sales & salesprofessionals (is it 50%+ qualified leads generated instead of only prospects?renewals? or share –of-voice leading to an actual purchase?) Then buildmetrics to map these very requirements.Customer Loyalty: Beyond Likes, Tweets & Shares 10/06/2013
  • 18. How Digital Loyalty Tricks—Crystal BallingWe need to get to 50,000 likesby end of Q2.Our post-re-engagement rateneeds to be higher than thecompetitor!Our fan base needs to bevitalized to 1M+.What matters to salesprofessionals & what we loseout on: conversions & repeats!What marketing ends upbuilding & tracking;pseudo-loyalty!Customer Loyalty: Beyond Likes, Tweets & Shares 10/06/2013
  • 19. Read the complete story atdigitalmarketingconclave@blogspot.comReach me atsumedha.chatterjee@gmail.comLoved it? Hated it? Differ? Agree? Care to Let Knowagain at sumedha.chatterjee@gmail.comCustomer Loyalty: Beyond Likes, Tweets & Shares 10/06/2013

×