What's the buzz

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What's the buzz

  1. 4. <ul><li>Bing.com has done a great job trying to attract new customers by developing ads and placing them in media to reach new prospects. </li></ul>
  2. 5. <ul><ul><li>Potentials - conceivably have an interest in buying the company’s product or service but may not have the means or intention to buy </li></ul></ul><ul><ul><li>Prospects - people with the motivation, ability and opportunity to make a purchase </li></ul></ul><ul><ul><li>Clients - people whom the company gives very special and knowledgeable treatment </li></ul></ul><ul><ul><li>Members – belong to a program that offers benefits to customers to join </li></ul></ul><ul><ul><li>Advocates - customers who enthusiastically recommend the company and its products and services to others </li></ul></ul>
  3. 6. <ul><ul><li>Because Bing is interested in retaining customers once obtained, it has created and implemented a customer loyalty rewards program. </li></ul></ul>
  4. 7. <ul><li>Last Wednesday, Bing launched a preview of their new loyalty program, dubbed Bing Rewards. The program offers redeemable credits to people for conducting searches. The program rewards users for what they are already doing online - searching, exploring and discovering. </li></ul>
  5. 8. <ul><ul><li>Download the Bing Bar (www.bing.com/rewards) </li></ul></ul><ul><ul><li>Sign in with Windows Live ID (registration is free) </li></ul></ul><ul><ul><li>Complete the registration process </li></ul></ul>
  6. 9. <ul><ul><li>Start earning credits by: </li></ul></ul><ul><ul><ul><li>Using Bing for searches </li></ul></ul></ul><ul><ul><ul><li>Setting browser search defaults to Bing </li></ul></ul></ul><ul><ul><ul><li>Trying new Bing features </li></ul></ul></ul><ul><ul><li>Redeem credits in site Redemption Center </li></ul></ul>
  7. 10. <ul><li>Two types of Customer Loyalty Programs: </li></ul><ul><ul><li>Frequency Programs – designed to provide rewards to customers who buy frequently and in substantial amounts </li></ul></ul><ul><ul><ul><li>Ex: Grocery store discount cards, frequent traveler programs </li></ul></ul></ul><ul><ul><li>Club Membership Programs - can be open to everyone who purchases a product or service, or can be limited to a small group. A membership fee and certain conditions are usually involved, so these programs might only appeal to certain people. </li></ul></ul><ul><ul><ul><li>Ex: Costco, Harley-Davidson </li></ul></ul></ul>
  8. 11. <ul><li>Only search engine that is currently offering a rewards program to users </li></ul><ul><li>FPs are typically very successful for the first company in a specific industry to utilize them </li></ul><ul><li>FPs can become financially burdensome after a long period of time, therefore, Bing is limiting its rewards program to one year. </li></ul><ul><li>The program expires 9/30/11. This will allow Bing to analyze the results and determine the success of the program without breaking the bank. </li></ul>
  9. 12. <ul><li>Bing Rewards Preview </li></ul><ul><ul><li>1-Year Test Run </li></ul></ul><ul><ul><li>Replacing Bing Cashback, which expired in July 2010 </li></ul></ul><ul><li>Bing currently has a market share of 13.9%, a growth of 30% over the past year, according to Nielson. </li></ul><ul><ul><li>Further increase in market share and overall success of program is TBD </li></ul></ul>

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